DRILLING CONTINUES TO EXPAND THE MAIN BRECCIA ZONE AT SILVER COIN
NEW ZONE RETURNS 11 METRES GRADING 28.7 GRAMS PER TONNE GOLD
Vancouver, BC - Pinnacle Mines Ltd. and Mountain Boy Minerals Ltd. report that drilling continues to expand the Main Breccia Zone at the Silver Coin Project located 24 kilometers north of Stewart, BC. Assay results have been received for an additional 12 holes.
Holes DDH2005-58 and DDH2005-60 to DDH2005-63, which tested the near surface expression of the Main Breccia Zone on the Big Missouri claim, were located 140 meters east of the collars for DDH2005-50 and DDH2005-51. DDH2005-58 was drilled at azimuth 083 degrees and a dip of minus 60 degrees. DDH2005-60 was a vertical hole drilled from the same set-up as DDH2005-58 as was DDH2005-61 which was drilled at 263 degrees azimuth and a dip of minus 86 degrees. It was lost before achieving final depth and a second hole from the same location was drilled at azimuth 270 degrees and a dip of minus 85 degrees.
Hole DDH2005-63, on the Big Missouri claim, was drilled 50 meters north of DDH2005-58 and DDH2005-60 to 63 at an azimuth of 263 degrees and a dip of minus 85 degrees. It was lost before achieving final depth. DDH2005-59 and 68 were drilled on the Indi 9 claim to test the Dauntless zone. Both holes were drilled at an azimuth of 263 with 60 degree dips to the west. DDH2005-68 was lost before achieving final depth.
DDH2005-69 to DDH2005-72 were drilled on the Kansas claim to test the southern extent of the Main Breccia Zone. In the course of drilling, a new southwest striking gold zone was intercepted near surface. This new zone, called the Dan Zone, been traced by drilling and surface exposures from the Kansas claim into the Dan Fraction claim. The zone is up to 40 meters wide and at least 400 meters in strike length. DDH2005-69 and DDH2005-70 were drilled from the same location at azimuth 083 and dips of minus 60 and 70 degrees respectively. These holes were drilled 48 meters south of drill hole DDH2005-46. DDH2005-71 and DDH2005-72 were drilled off the same set-up at azimuth 083 and dips of minus 60 and 70 degrees respectively. These holes were drilled 41 meters south of DDH2005-69 and DDH-2005-70.
DDH2005-64 was drilled 119 meters south of DDH2005-69 to 70 at an azimuth of 263 degrees and a minus 50 degree dip. It was designed to test the southern extension of the Dan Zone.
A summary of the drill results are as follows:
DDH # |
From |
To |
Interval |
Au |
Ag |
Cu |
Pb |
Zn |
|
(meters) |
(meters) |
(meters) |
g/t |
g/t |
% |
% |
% | |
|
Main |
Zone |
|||||||
|
2005-60 |
39.33 |
51.52 |
12.21 |
4.16 |
12.18 |
0.02 |
0.22 |
0.61 |
|
and |
130.79 |
142.99 |
12.2 |
2.12 |
11.15 |
0.007 |
0.07 |
0.19 |
|
2005-61 |
113.72 |
124.7 |
10.98 |
1.47 |
18.84 |
0.011 |
0.19 |
0.49 |
|
2005-62 |
138.41 |
139.94 |
1.52 |
2.03 |
26.5 |
0.024 |
0.25 |
0.42 |
|
and |
152.13 |
159.76 |
7.63 |
2.4 |
5.36 |
0.005 |
0.094 |
0.226 |
|
2005-63 |
63.11 |
66.16 |
3.05 |
8.56 |
7.7 |
0.005 |
0.02 |
0.02 |
|
Dan |
Zone |
|||||||
|
2005-64 |
5.73 |
32.77 |
27.04 |
3.07 |
22.06 |
0.05 |
0.67 |
1.17 |
|
including |
5.73 |
10.37 |
4.64 |
7.15 |
78.32 |
0.18 |
2.29 |
3.33 |
|
Dauntless |
Zone |
|||||||
|
2005-68 |
102.44 |
104.57 |
2.13 |
1.86 |
3 |
0.005 |
0.02 |
0.14 |
|
and |
111.59 |
114.63 |
3.05 |
2.02 |
2 |
0.006 |
0.02 |
0.22 |
|
Main |
Zone |
|||||||
|
2005-69 |
26.22 |
30.79 |
4.57 |
2.08 |
16.5 |
0.038 |
0.47 |
1.02 |
|
and |
36.89 |
53.66 |
16.77 |
1.43 |
8.35 |
0.03 |
0.22 |
0.69 |
|
and |
75 |
90.24 |
15.24 |
4.21 |
5.08 |
0.003 |
0.022 |
0.076 |
|
including |
87.2 |
90.24 |
3.05 |
18.4 |
17.4 |
0.003 |
0.03 |
0.11 |
|
Main |
Zone |
|||||||
|
2005-70 |
17.07 |
23.17 |
6.1 |
1.9 |
16.6 |
0.01 |
0.12 |
0.21 |
|
and |
32.32 |
35.37 |
3.05 |
1.03 |
2.4 |
0.004 |
0.04 |
0.13 |
|
and |
47.26 |
69.51 |
22.25 |
2.25 |
15.44 |
0.04 |
0.42 |
0.92 |
|
including |
61.28 |
62.8 |
1.52 |
8.21 |
27.2 |
0.086 |
0.67 |
1.71 |
|
and |
75 |
81.1 |
6.1 |
1.56 |
5.1 |
0.004 |
0.23 |
0.24 |
|
and |
96.34 |
101.52 |
5.17 |
3.89 |
10.38 |
0.02 |
0.33 |
0.84 |
|
including |
97.87 |
99.39 |
1.52 |
8.13 |
14.7 |
0.028 |
0.29 |
0.62 |
|
Dan |
Zone |
|||||||
|
2005-71 |
6.1 |
7.93 |
1.83 |
8.42 |
7.2 |
0.013 |
0.08 |
0.23 |
|
Main |
Zone |
|||||||
|
and |
53.66 |
55.18 |
3.05 |
5.02 |
9.7 |
0.019 |
0.17 |
0.37 |
|
and |
83.31 |
90.21 |
6.97 |
2.5 |
12.77 |
0.014 |
0.36 |
0.89 |
|
and |
120.73 |
126.83 |
6.1 |
1.74 |
3.56 |
0.016 |
0.09 |
0.12 |
|
Dan |
Zone |
|||||||
|
2005-72 |
3.65 |
9.13 |
5.48 |
3.64 |
4.59 |
0.007 |
0.154 |
0.377 |
|
and |
15.25 |
26.22 |
10.97 |
28.66 |
21.79 |
0.005 |
0.085 |
0.228 |
|
Main |
Zone |
|||||||
|
and |
62.8 |
79.57 |
16.77 |
4.2 |
20.55 |
0.05 |
0.76 |
1.62 |
|
and |
88.87 |
92.68 |
3.81 |
3.52 |
12.4 |
0.018 |
0.39 |
1.31 |
The Dan Zone mineralization is similar to that in the Main Breccia, Perseverance, and other mineralized structures on the Silver Coin property. It contains semi-massive sphalerite, galena, pyrite and chalcopyrite with occasional visible gold.
At present, there are 2 drills continuing to work to complete a further 1000 meters of drilling prior to the onset of winter. It is expected that this may take 1 to 2 weeks.
Assays are pending for a further 19 holes.
Mineralization in the Main Breccia, Perseverance, and other mineralized structures on the Silver Coin property is similar to ore from the nearby and former producing Silbak-Premier mine, which produced 1.8 million ounces gold, 41 million ounces silver, 4.2 million pounds copper, 62 million pounds lead and 20 million pounds zinc.
Assay results from drill holes are released when received from Assayers Canada and the assay data has been through internal validation of quality assurance and quality control. Pinnacle Mines has established a sampling and assay control program with blind insertion of assay standards; noting that there is also an internal quality control and quality assurance program in place at Assayers Canada that includes blanks, duplicates and standards.
The Silver Coin property is strategically situated 24 kilometers north of Stewart on the Granduc road. The infrastructure in the area is excellent with good roads, power and water.
E. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration programs on behalf of the Companies. Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.
Pursuant to an option and joint venture agreement, Pinnacle and partner Mountain Boy Minerals can earn up to a 60% interest of Tenajon’s 100% owned Kansas property by spending $1.0 million on exploration and development over a 4 year period. In addition, the partnership has the right to earn an additional 10% in Kansas by bringing it through a positive feasibility study within 4 years of earning its 60% interest. The Kansas property is a crown grant claim, 19.5 hectares in size, and is surrounded by the Company’s Silver Coin land holdings.
Pinnacle Mines Ltd. is a Canadian based mineral exploration and development company whose activities are international in scope. Its primary assets are located in both Canada and China. 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 604-688-7377 or visit Pinnacle’s website at http://www.pinnaclemines.com.
On behalf of the Board of Directors
“Andrew W. Bowering”
President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibilityfor the adequacy or the accuracy of the content of this news release.