ANOTHER POTENTIAL HIGH-GRADE PROPERTY RESULTS IN SIGNIFICANT VALUES OF 70.74 G/T GOLD AND 1412 G/T SILVER
Stewart, BC Pinnacle Mines Ltd. and Mountain Boy Minerals Ltd. announce that assay results from a new exploration program consisting of diamond drilling and prospecting on the FR claims have been received. The FR project is a gold-silver-base metal property located in the Skeena Mining Division, 35 kilometers north of Stewart, BC. The project is a 51-49% joint venture between Pinnacle and Mountain Boy.
A drill program of approximately 1300 meters in 15 holes was primarily designed to test the silver bearing structures. In addition to the drilling, prospecting and sampling was conducted on the northern portion of the property. Drilling was conducted over a wide area to better test Drilling on the Moonlight vein (Holes FR-4 to 13) which have shown high silver values with holes over one g/t listed in the table below:
DDH |
From (m) |
To (m) |
Width (m) |
Ag g/t |
Cu % |
Pb % |
Zn % |
|
|
|
|
|
|
|
|
|
|
FR-6 |
35.06 |
36.89 |
1.83 |
1412 |
0.303 |
0.09 |
0.44 |
|
FR-8 |
37.8 |
38.72 |
0.92 |
200 |
0.097 |
0.84 |
0.23 |
|
FR-9 |
38.41 |
39.94 |
1.53 |
228.7 |
0.345 |
0.25 |
0.15 |
|
FR-12 |
37.34 |
40.4 |
3.06 |
231.57 |
0.051 |
1.12 |
0.31 |
A new epithermal vein system has been discovered approximately 1 kilometer north of the above drilling with chalcopyrite, galena, sphalerite and pyrite mineralization associated with siderite and manganese rich stockwork zones up to 4-5 meters wide. High gold values are generally closely associated with enhanced copper values. Individual veins within the stockwork zone may be up to 1 meter in width and average over 50% sulphide. The zone has been traced over a strike length of at least 600 meters through talus prospecting with only several outcrop exposures. Grab sampling of mineralized outcrop and float boulders has yielded up to 70.74 g/t gold and 1219 g/t silver. Numerous boulders gave assays varying from 10 to 60 g/t gold and 100 to 1000 g/t silver.
Further, the Company continues to receive and compile exploration results from the Silver Coin and Barbara (Ba) projects and will release them as they become available. During 2006, an additional 24,206 meters was drilled on Silver Coin. Late in the 2006 exploration season, the Company drilled 12 short holes on its Barbara claims which returned some excellent results including 10.31 meters hosting 152.19 g/t silver, 4.51% lead and 4.05% zinc which included a section showing 1.81 meters of 369.6 g/t silver, 16.1% lead and 13.7% zinc.
E. Kruchkowski, P. Geo., is the qualified person under National Instrument 43-101 that is in charge of the exploration program on behalf of the companies. Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.
Pinnacle Mines Ltd. is a Canadian based mineral exploration and development company with assets in Canada, China and Mexico. 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 focus is in Southeast Yunnan, an area being increasingly considered for its potential to host significant mineral resources including “Carlin” style gold deposits. In Mexico, Pinnacle has an option to acquire the Tuligtic property, a copper-gold target near Mexico City and the Rio Minas-La Calavera projects in the state of Oaxaca.
For further information about this news release contact Andrew Bowering, President or John Van Duzen at 604-688-7377 or visit Pinnacle’s website at www.pinnaclemines.com for further property information and/or assay results.
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.