Paget Minerals Corp.

Paget Minerals Corp.

September 07, 2011 14:50 ET

Paget Minerals Provides Exploration Plan for Ball Creek Gold-Copper Property in B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Paget Minerals Corp. (TSX VENTURE:PGS) ("Paget" or the "Company") is pleased to provide its exploration plan and additional background data for the newly acquired Ball Creek Gold-Copper-Molybdenum-Silver (Au-Cu-Mo-Ag) property in Northwestern British Columbia (see news release of September 2, 2011).

The Ball Creek property contains five porphyry Au-Cu-(Mo-Ag) systems (Ball Creek, Goat/Cliff, Mess Creek, North More and North Rainbow), and four epithermal Au-Ag systems (Lower Rainbow, Upper Rainbow, Rojo Grande and HP) within 144 claims covering over 47,200 hectares. The gold-enriched Ball Creek porphyry is the most accessible porphyry system in the Iskut region, located 37 kilometres ("kms") from the Bob Quinn transfer station on the new Northwest Transmission Line and 8 kms west of Highway 37 ((Galore Creek (NovaGold/Teck Resources) – 82 kms, Red Chris (Imperial Metals) – 90 kms and Schaft Creek (Copper Fox) – 67 kms from the transmission line)).

David Volkert, President and CEO, stated, "In addition to the excellent potential for gold-copper porphyry deposits, peripheral epithermal targets at Ball Creek contain high-grade gold values of 5–59 grams per tonne ("g/t") that could enhance the value of the Ball Creek Porphyry. The North Rainbow, Goat/Cliff, Mess Creek and North More porphyry targets add further long-term potential making the entire Ball Creek property highly prospective."

The exploration plans for the remainder of the 2011 season, weather permitting, include drilling on the following targets:

  • Upper Rainbow epithermal target: sediment-hosted, structurally-controlled mineralization with highs of 19 and 59 g/t Au and 106 and 169 g/t Ag from surface sampling,
  • North Rainbow porphyry target: volcanic-hosted, Maricunga-style sheeted veining with highs of 4.6 and 8.1 g/t Au and 0.29% Cu from surface sampling,
  • Ball Creek porphyry target: a deep drill hole (800–1,000 metres) to test the depth potential of historic drilling that returned 231 metres @ 0.54 g /t Au and 0.21% Cu.

Disclosure of a technical or scientific nature in this news release has been reviewed and approved by David Volkert, AIPG, who serves as a Qualified Person under the definition of National Instrument 43-101.

About Paget Minerals Corp.

Paget Minerals Corp. is a British Columbia company focused on mineral exploration and the advancement of a diverse range of precious metal and copper projects in British Columbia, Mexico and Colombia, all under active exploration with drill projects in B.C. including Ball Creek, Chist Creek, Icy Lake, Fae and Slam.

On Behalf of the Board of Paget Minerals Corp.,

David F. Volkert, President & CEO

Neither 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.

Contact Information

  • Paget Minerals Corp.
    David Volkert
    President & CEO
    (778) 327-4449
    (778) 327-6546 (FAX)