Pegasus Resources Inc Stock Price, News & Analysis

Pegasus Resources Inc. announced the results of its summer 2021 exploration program at its Gold Mountain and Punch Bowl properties in British Columbia. Significant findings include:

• Gold Mountain's mineralization extended from 600m to over 900m, with sample results of 1.63% Cu, 76 g/t Ag, and 2.34 g/t Au.
• Punch Bowl confirmed multiple gold-bearing veins, with some samples exceeding 1.0 g/t Au and a new copper zone with samples up to 1.68% Cu.

The company aims to expand further in the next exploration season.

Pegasus Resources reported promising results from its summer 2021 prospecting program at the Vertebrae Ridge Property in British Columbia, encompassing 5,324 ha. Significant findings include the discovery of the Canon Cu-Au Zone and confirmed mineralization at existing sites. Key highlights feature:

• Crest Zone: 65 samples collected, averaging 2.7% Cu, with a maximum of 29% Cu.
• Barrel Zone: 13 samples averaging 0.87% Cu, highest value at 5.06% Cu.
• Cannon Zone: 26 samples averaging 1.03% Cu, including notable gold values.

The findings suggest a large mineralized system in a region with growing copper demand, enhancing exploration potential.

Pegasus Resources Inc. (OTC: SLTFF) has initiated permitting for its uranium projects in the Athabasca Basin, covering approximately 60,054 ha across 19 claims, including Pine Channel and others. A permit application has been submitted for the Pine Channel project, with ground radon and gravity surveys planned upon approval. The company is also collaborating with Northern communities and awaits assay results from recent work on other properties. The technical information has been reviewed by a qualified expert.

Pegasus Resources Inc. (OTC: SLTFF) announced exploration plans for its uranium projects in the Athabasca Basin, covering approximately 60,054 hectares across 19 claims. The company aims to advance exploration at the Pine Channel property through radon soil gas and gravity surveys, making it drill-ready. Plans include data compilation at Mozzie Lake, Wollaston Northeast, and Bentley Lake properties to strategize spring exploration. Historical data indicates potential uranium mineralization, with previous drilling revealing 0.15% U3O8 over 0.15m.

Pegasus Resources Inc. (SLTFF) announced the acquisition of four uranium properties near the Athabasca Basin in northern Saskatchewan. This includes a historical resource estimate of 204,200 tons at 0.119% U₃0₈, equating to 535,718 pounds of uranium. The properties span 54,026 hectares and encompass Wollaston Northeast, Bentley Lake, Mozzie Lake, and Pine Channel. The acquisition aims to leverage the growing interest in uranium exploration and enhance the company's resource base.

Pegasus Resources Inc. (OTC: SLTFF) has acquired the Pine Channel Uranium Property in the Athabasca Basin, spanning 6,028 ha. The acquisition includes a 100% interest in one claim from Eagle Plains Resources Ltd. and an adjacent claim via a binding LOI. Historical explorations reveal conductive trends and anomalous uranium levels, with previous drilling indicating 0.15% U3O8 over 0.15m. CEO Charles Desjardins expressed excitement over the project, which has seen little activity since 1981. The company plans immediate data compilation and exploration planning.

Pegasus Resources Inc. (OTC symbol: SLTFF) has reported ongoing activities at its Millionara Property in Nevada, an intermediate exploration project within the Independence Gold Trend. Engaging DIRT Exploration for LWIR interpretation, the company aims to identify mineral distribution for future exploration. Historical drilling indicates promising gold results, with significant intervals yielding up to 4.05 g/t Au. The property benefits from excellent accessibility and proximity to major mining operations, enhancing its exploration potential.

Pegasus Resources Inc. (OTC/Pink Sheet symbol SLTFF) has settled $20,000 in outstanding debt through the issuance of 400,000 common shares at a price of $0.05 per share, following approval from the TSX Venture Exchange. This Shares for Debt Settlement aims to streamline the company's financial obligations. The issued shares will be under a four-month hold period. Pegasus, a diversified mineral exploration company focused on zinc and base metals in North America, continues to seek opportunities that enhance shareholder value.

Pegasus Resources Inc. (OTC/Pink Sheet symbol SLTFF) announced the appointment of Mike England as a director, succeeding Glen MacDonald, who resigned. England has over 30 years of experience in public markets and has raised over $80 million for mineral projects. Additionally, the Company will issue 400,000 common shares at $0.05 each to settle $20,000 of debt, pending TSX Venture Exchange approval, subject to a four-month hold. Pegasus focuses on zinc and base metals in North America and looks for opportunities to enhance shareholder value.