Exploration Plans At Golden And Millionara Projects

VANCOUVER - Pegasus Resources Inc. reported on upcoming and ongoing activities on two of its high priority gold and copper projects in Nevada and BC. A recently completed hyperspectral remote-sensing survey on the Millionara Property has identified several high-priority target areas on the property. The Company has integrated the remote-sensing target areas with the historical exploration database and expect to follow up on the ground in September with a program of mapping and sampling in advance of a fall drill program. The goal of the drilling program is expected to confirm and expand upon the highest priority historical mineralization Hole M88C-3: 19.8 m of 3.63 g/t Au and Hole WILC-4: 21.3 m of 4.05 g/t Au; and to test any new mineralized areas that have been identified in the upcoming work.

At the Golden Project in southeastern BC, crews are planning a follow-up mapping and sampling program in August, followed by a shallow/small diameter drilling program in late-August/early-September. The 2020 work reported by the Company at the three claim blocks which constitute the Golden Project (Gold Mountain, Vertebrae Ridge and Punch Bowl) have identified extensive copper, gold and silver results, and the Company expects to continue to delineate the mineralized zones.

“We are excited to get back to work on the Golden project in BC which has had remarkable assays from both limited drilling and surface sampling in the past. We have begun, and will continue, to employ the latest in mineral exploration technologies on both the Golden project and the recently acquired Millionara project in Nevada to give us the best shots at making a bonafide discovery,” said, Charles Desjardins, CEO of Pegasus.