Based in British Columbia, Pacific Bay Minerals Limited has exploration projects on the go both nationally and internationally with claims in Quebec, BC, the Yukon and Argentina.
According to David H. Brett, President & CEO of Pacific Bay Minerals, the company has three separate projects in the Otish region. The main one is a joint venture with Strateco on the surrounding claims around Strateco-owned property where the Matoush deposit is located. Strateco has 60% of this and Pacific Bay owns the other 40%.
Brett said there are other claims owned solely by Pacific Bay, but little work has been done on them in recent times because the price of uranium has been depressed for a long time and it has been difficult to raise money.
“We still think that these properties have a lot of potential and we would like to go back and continue exploring.
“People like us are hoping for the best in those discussions because that will affect everything else. There is no point in looking for uranium in a place where people don’t want it to be found,” said Brett.
The two other Pacific Bay projects are Otish Southwest and Papaskwasati, which Brett says is closer to Mistissini.
In recent years these projects have not been touched as they are difficult to access logistically and because of the downturn in the global economy. As a result, the company currently has no budget allocated to develop these areas.
This could change should Strateco get approval for their project as it will make it easier for other projects to get approval in the region.
“We are hoping that everything goes well and that the relationship with the local communities will be favourable. Hopefully their issues or differences can be ironed out.
“We are hopeful that we can get back in the area to do more work if the market improves because we think that uranium has a big future and hopefully in Quebec,” said Brett.
For more info: www.pacificbayminerals.com
