Pacific Bay reports Partner UrAmerica Outlines Drill Targets

Pacific Bay reports outlined drill targets on it’s uranium Cerro Solo area claims located in Argentina were provided by its partner UrAmerica. 

UrAmerica is in the first year of an option agreement to earn a 60% interest in the Property by incurring USD$1,200,000 in exploration expenditures and paying Pacific Bay USD$140,000 over 4 years.

Nine drill locations have been outlined to target potential paleo-channels favourable for uranium mineralization similar to the Cerro Solo deposit of the region. Field observations by UrAmerica indicate that the favourable “Los Adobes” formation may lie below the rocks of the Chubut Group which outcrop on the Property. UrAmerica is scheduled to commence a 20,000 meter drill program in October 2010 on its various claims in the district, including some drilling on the Pacific Bay/UrAmerica property.

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