MINEFILL SERVICES COMPLETES RESOURCE CALCULATION AND 3-D MODEL OF SILVER COIN
Vancouver, BC - Pinnacle Mines Ltd., Mountain Boy Minerals Ltd. and Tenajon Resources Corp. are pleased to announce the results of a recently completed resource estimate on the Silver Coin Project located near Stewart, BC. The total inferred resource contains an estimated 500,000 ounces of gold, and 2.11 million ounces of silver. The inferred resource consists of 11.3 million tonnes grading 1.60 g/t Au, 6.64 g/t Ag, 0.06% Cu, 0.19% Pb, and 0.41% Zn and has been calculated in accordance with CIMM (2000) standards, at a geometric cutoff. Within this resource, a higher grade envelope containing 2.5 million tonnes at 2.69 g/t Au, 10.09 g/t Ag, 0.06% Cu, 0.33% Pb, and 0.58% Zn has been identified for a total of 170,543 ounces of gold and 660,504 ounces of silver. Mineralization is open along the strike and down dip. Of the total calculated inferred resource of 499,775 ounces gold and 2,110,693 ounces silver, the Kansas claim has 377,394 ounces of gold and 1,545,595 ounces of silver. Of the higher grade envelope the Kansas claim contains 146,418 ounces of gold and 490,048 ounces of silver.
The above resource calculation is based on 288 underground and 203 surface diamond drill holes, of which 74 surface holes were completed under the supervision of Pinnacle geologists, and the remaining 417 holes represent historical drill holes drilled by previous operators. The estimate was prepared on results of drilling only on the Main Breccia Zone and represents less than 5% of the overall structure of the zone.
A comprehensive program of data verification was undertaken by MineFill Services prior to the building of a resource model in SURPAC. This program identified 301 drill holes that could be verified to NI 43-101 standards with original assay certificates, whereas the remaining 190 drill holes were omitted from the resource model due to missing certificates, missing collar surveys, or other data verification issues. The verified drill data was then plotted onto cross sections where a sectional interpretation of the grade envelopes was made. The results were then digitized into SURPAC. A mineral resource estimate was then generated by sectional polygonal methods.
Investors are cautioned that, due to uncertainties attached to inferred mineral resources, it cannot be assumed that any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource or to a reserve status. Furthermore, confidence in these mineral resources is insufficient to allow any meaningful application of any technical or economic parameters to enable an evaluation of economic viability worthy of public disclosure. Investors are cautioned not to assume that any part of an inferred resource will be economically mineable.
MineFill Services is currently preparing a 43-101 compliant technical report for filing on SEDAR.
Previous mining on the Silver Coin claims reportedly produced 27,101 ounces of gold, and 81,653 ounces of silver from 102,539 tonnes which is equivalent to a milled grade of 8.85 g/t Au, and 54.2 g/t Ag.
The Qualified Person for this release is Dr David Stone, P.Eng., P.E. of MineFill Services, Inc., Vancouver, B.C.
David M Stone, P.E.
President, MineFill Services, Inc.
Tel: 425.486.0992
Fax: 425.486.0882
e-mail: dave@minefill.com
website: www.minefill.com
Pinnacle Mines Ltd. is a Canadian based mineral exploration and development company whose 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.
Silver Coin is a gold-silver-base metal property located about 24 kilometres north of Stewart, British Columbia in the Skeena Mining Division. The entire project consists of the Silver Coin property, the Dauntless property and the Kansas property. Through various option agreements, Pinnacle has the right to earn at least a 60 % interest in the Silver Coin property and a 33 % interest in the Dauntless property. The Kansas claim is the subject of an option/joint venture with Tenajon Resources Ltd., pursuant to which Pinnacle and Mountain Boy are earning a 60% interest through the expenditure of $1,000,000 on exploration over four years. The Companies can jointly earn a 70 per cent interest in the Kansas claim by exercising an option to deliver a feasibility study within four years of earning the initial 60%
The project covers approximately 1,500 hectares and features a zone of faulting and shearing with accompanying mineralization up to 300 metres wide that has been traced for 1.6 kilometers.
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 responsibility
for the adequacy or the accuracy of the content of this news release.