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PEGA - Pegasus Resources Inc News Story

C$0.07 0.0  16.7%

Last Trade - 17/09/21

Sector
Basic Materials
Size
Micro Cap
Market Cap £3.25m
Enterprise Value £3.19m
Revenue £n/a
Position in Universe 2255th / 2709

Pegasus Update on Green Energy Projects

Wed 17th February, 2021 1:30pm
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VANCOUVER, British Columbia, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Pegasus
Resources Inc. (TSX-V: PEGA; Frankfurt – OQS2, OTC/Pink Sheet symbol SLTFF)
(the “Company” or “Pegasus”) is pleased to inform shareholders that it
is continuing to review several Green Energy opportunities consistent with the
company’s mineral exploration focus. Projects under review are within North
American jurisdictions favorable for mineral exploration and development.
Opportunities under review consist of Lithium, Copper, Nickel and/or Uranium.
Our technical team is presently conducting a review of multiple opportunities
and intends on providing further updates after the due diligence is completed.

Charles Desjardins, President and CEO of Pegasus Resources Inc. states that
“with the company being fully funded and with lithium, copper, nickel and
uranium being in great demand and for the foreseeable future, we will explore
the possibility of acquiring additional opportunities if they meet our
criteria of enhancing value to the company and its shareholders.

We also look forward to a busy field season at our Golden, BC area properties,
such as our Vertebrae Ridge Project, where we believe the extensive,
high-grades of copper mineralization are indicative of a unique,
high-potential discovery.”

The sale of the Confederation Lake properties (see News Release 06
January,2021) is almost complete. The $500,000 cash payment has been received
and we are awaiting the final transfer of $1,250,000 worth of Trillium Gold
Mines Inc. shares.

Pegasus remains focused on exploring the Company’s Golden Project which
contains the Gold Mountain and Vertebrae Ridge projects.

GOLD MOUNTAIN
Exploration during 1982 at the North Showing, near the adit, identified a 1 m
wide quartz vein, which returned a grab samples of 4.87 g/t Au, 647 g/t Ag and
1.89% Cu.

At the South Showing, five veins are exposed by trenches within a zone about 4
m wide, a peak value of 30.3 g/t Au, 123.1 g/t Ag and 32.54% Cu was returned.

Eight shallow back pack style drill holes were completed in 1984, though poor
recoveries were noted, results include:
* 4.04 m - 59.04 g/t Au, 6,863.1 g/t Ag, 16.9% Cu, and 8.95% Pb


* 4.50 m - 7.89 g/t Au, 942.2 g/t Ag, 2.3% Cu, and 5.26% Pb
VERTABRAE RIDGE

Zone 1
* 18 rock samples collected over a 1,400+ metre strike with sample assays of
4.13% Cu, 28.6% Pb, 4.74% Zn, and 360 g/t Ag;
* Exhibits anomalous concentrations of As, Hg and Sb, in addition to Cu, Pb,
Zn and Ag;
Zone 2 North
* 13 rock samples collected over a 650+ metre strike returned an arithmetic
average of 2.5% Cu and 4.5 g/t Ag, with peak values of 10.7% Cu and 29.1 g/t
Ag; and
Vein 160 Showing

Seven rock samples collected over an approximate 250 metre strike returned an
arithmetic average of 10.5% Cu and 14.7 g/t Ag, with peak values of 35.5% Cu
and 96.7 g/t Ag

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by
Nathan Schmidt., P.Geo., a Qualified Person as defined in National Instrument
43-101.

About Pegasus Resources Inc.

Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration
Company with a focus on zinc and base metal properties in North America. The
Company is also actively pursuing the right opportunity in other resources to
enhance shareholders value. For additional information please visit the
Company at www.pegasusresourcesinc.com or contact Charles Desjardins at
charles@pegasusresourcesinc.com.

On Behalf of the Board of Directors

Charles Desjardins
 President and Director
 Pegasus Resources Inc. 
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6 
1-604-369-8973 
E: info@pegasusresourcesinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Forward Looking Statements. 
Statements included in this announcement, including statements concerning the
Company’s plans, intentions and expectations, which are not historical in
nature are intended to be, and are hereby identified as, “forward-looking
statements”. Forward-looking statements may be identified by words including
“anticipates”, “believes”, “intends”, “estimates”,
“expects” and similar expressions. The Company cautions readers that
forward-looking statements, including without limitation those relating to the
Company’s future operations and business prospects, are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those indicated in the forward-looking statements


(https://www.globenewswire.com/NewsRoom/AttachmentNg/f9c097c1-4076-4c07-8ac9-c5436253127d)



GlobeNewswire, Inc. 2021
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