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October 23, 2008
An Induced Polarisation (IP) survey has been planned and it is expected that this will be completed before the end of 2008. Assessment of tailings from the abandoned Long Lake Gold Mine was still in progress.
July 31, 2008
Metallurgical test work has commenced on a group of 7 tailings samples from the abandoned Long Lake Gold Mine. Though the mine workings are not within the Eden claims area the tailings deposits, covering some 8.3 hectares, are within the claim group. Gold grades of samples range between 0.37 and 6.22 g/t gold. Initial gravity separation and flotation results indicate that most of the gold is intimately associated with the sulphides present in the tailings. The next tests will involve cyanide leaching of finely ground flotation.concentrates. A helicopter-borne VTEM time-domain survey has been completed in Mar/08. Several zones of quartz diorite outcrop are coincident with VTEM anomalies and the Pegasus intends to conduct IP suveys over these zones preliminary to drilling the anomalies.
December 11, 2007
It has completed a reconnaissance sampling program and samples have been submitted for analyses.