EXPLORATION SEASON TO BEGIN AT SILVER COIN
Pinnacle Mines Ltd. and Mountain Boy Minerals report that the 2005 Phase I program on the Silver Coin project, in Northwestern British Columbia, has commenced. All permitting for the project has been obtained and the companies recently opened the access road and expect to begin drilling the first week of May.
The mineralization on the project consists of quartz breccia, silicified wall rocks, quartz stringers and mineralized trachyte dykes containing visible gold, galena, sphalerite and chalcopyrite. Higher grade mineralization appears to occur in discrete parallel to sub-parallel sections of a zone that may be up to 100 meters in width. The mineralization is hosted in a sheared, brecciated and silicified zone that is over 300 meters wide that has been traced for over 1.5 kilometers in length.
Pinnacle Mines Ltd has budgeted $620,000.00 for Phase I of this year’s program. Phase I of this year’s program will include diamond drilling, geochemical surveys and trenching. Drilling will concentrate on the Perseverance zone discovered in 2004 and other wide zones in order to develop a large tonnage gold-base metal deposit. Initially, drilling will focus on stepping out north and south of an area where drill holes 2004-31, 34 and 36 intersected 11.35 grams per tonne (g/t) gold over 17.8 meters, 11.29 g/t gold over 21.33 meters and 11.65 g/t gold over 14.02 meters respectively. These significant intersections are found within much wider zones that grade from 1.5 to 3 g/t gold and also contain significant amounts of base metals.
Work will also include the continued trenching of a number of other highly mineralized zones to develop additional drill targets. One of the priority targets will be an area of float boulders at the northwest extension of the 1.5 kilometer zone where assays of 3 to 10 g/t gold and greater than 30 g/t silver with significant copper, lead and zinc values were obtained.
The Silver Coin property shares many characteristics with the nearby Silbak-Premier mine which produced 4.7 million tons that yielded approximately 1.8 million ounces gold, 41 million ounces silver, 4.2 million pounds copper, 62 million pounds lead and 20 million pounds zinc during the period 1918 to 1979.
E. Kruchkowski, P. Geo. is in charge of the exploration programs on behalf of the Company. Assayers Canada, an accredited laboratory conducts all assaying on behalf of the company.
Pinnacle Mines Ltd. is a Canadian based mineral exploration and development company whose activities are international in scope. In Canada, Pinnacle holds several properties in Northwestern British Columbia, in proximity to numerous past and producing mines including the Silbak-Premier Mine and Barrick Gold’s famed Eskay Creek Mine. In China, Pinnacle’s current focus is in Southeast Yunnan, an area being increasingly considered for its potential to host significant mineral resources including “Carlin” style gold deposits.
For further information contact Andrew Bowering, President, at 604-922-7377 or visit Pinnacle’s website at http://www.pinnaclemines.com.
On behalf of the Board of Directors
“Andrew W. Bowering”
President and CEO
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