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Pegasus Metals Ltd.

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Summary

Project:

Dablo

Deposit:Dablo
Location:Burkina Faso
Commodities:Gold-Platinum-Palladium-Nickel-Copper
Date:10/23/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:23-10-2018: Pegasus Metals Ltd. announces an Exploration/Drilling Update report for its Dablo deposit at the Dablo project. Drilling results incl. 29m @ 0.65g/t Au, 0.99g/t Pt, 2.33g/t Pd, 0.7731% Ni, 0.2392% Cu from 32m. Pegasus Metals Limited (ASX:PUN)
Resources:x
CP/QP:[Overall Report]: Grant Osborne (Independent)
ABSTRACT:Pegasus Metals Limited (ASX:PUN) (“Pegasus” or the “Company”) is pleased to announce results from the completion of a recent 3000m Reverse Circulation (RC) drilling programme (refer PUN:ASX announcements 12th June 2018 and 18th June 2018) at the Dablo Pd-Pt-Au-Ni-Cu (palladium-platinum-gold-nickel-copper) Prospect in Burkina Faso in Africa (Dablo Project). Burkina Faso is considered a premier exploration destination for large mineral deposits (particularly gold) within the Paleo-Proterozoic greenstones of the Birimian shield (refer Figure 1). The Dablo Project consists of a large tenement package comprising 4 tenements for a total of 981 km2 (refer Figure 2) covering the Dablo Ultramafic-Mafic Intrusive Complex (DUMIC), with a strike length of 6 km identified so-far within a geochemically anomalous trend of over 30 km length (the Dablo corridor). The Dablo Project contains a significant multi-pulse, dynamic ultramafic-mafic complex (DUMIC) in an emerging PGE-Au-Ni-Cu Province, which could potentially host large palladium-platinum-gold-nickel-copper deposits. Focused drilling on the discovery outcrop at Dablo North has confirmed that significant mineralisation can now be inferred to extend for over 300 m of strike in the small portion of the DUMIC tested-to-date. Reconnaissance drilling in 2018 of targets within the DUMIC has resulted in two new discoveries, with significant multi-element intercepts returned from similar cumulate rocks to the Dablo North discovery. (For full details of significant intersections, refer Table 1.) These results confirm the potential for multiple zones of PGE-Au-Ni-Cu mineralisation along the 6 km of target zone identified so-far, within an anomalous interpreted and untested trend of over 30 km length (the DUMIC corridor) inside the Dablo project tenure. In addition, a single discovery hole, DBRC2018-04, was completed immediately north of the Dablo North prospect and returned a significant high-grade orogenic gold intersect from sulfide-bearing amphibolite of 2m @ 13.75 g/t Au from 88 m. This zone is completely open in all directions and warrants additional drilling to determine the geometry and scale of the gold mineralisation. Additional RC and Diamond drilling is planned to expand the known mineralisation at all three new prospects, as well as RC drilling at other untested regional targets within the DUMIC corridor.

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