DRILL HOLE DDH-2006-124 YIELDS 9.14 METRES GRADING 2.64 G/T GOLD AND 424 G/T SILVER
Stewart, BC Pinnacle Mines Ltd., Mountain Boy Minerals Ltd. and New Cantech Ventures Ltd. announce that assays have been received for 8 holes from the 2006 exploration program on the Indi claim property. The Indi claim property is along the west side of the Silver Coin project ( 51 % Pinnacle Mines Ltd 49 % Mountain Boy Minerals Ltd joint venture) located about 24 kilometers north of Stewart, British Columbia in the Skeena Mining Division. The Silver Coin project is a gold-silver-base metal deposit with a total inferred resource estimated to contain 500,000 ounces of gold and 2.11 million ounces of silver without incorporating any drilling results from the 2006 diamond drill program. Additional drill hole assay results are pending for other claim blocks within the Silver Coin joint venture.
Drilling was along the faulted off extension of the Main Breccia zone located along the west side of Dan Hill on the Indi 9 claim. Work has indicated that the faulted off extension has been traced for approximately 200 meters in this area on the Indi 9 claim. Work has indicated that the Main Breccia zone is open along strike to the south back on to the Silver Coin joint venture.
Intersections in DDH 2006 117 to 124 are shown in the table below. Assay results are incomplete for DDH-121 with missing assays in the middle of the mineralized zone. No significant mineralization was encountered in DDH 123.
DDH |
From |
To |
Width |
Au |
Ag |
Cu |
Pb |
Zn |
CLAIM TESTED |
|
|
|
|
|
|
|
|
|
|
|
|
2006-117 |
5.79 |
28.66 |
22.82 |
1.26 |
6.66 |
0.03 |
0.13 |
0.91 |
Indi 9 |
|
and |
63.72 |
66.77 |
3.05 |
1.75 |
5.0 |
0.008 |
0.07 |
0.48 |
Indi 9 |
|
and |
135.37 |
136.89 |
1.52 |
1.08 |
6.8 |
0.019 |
0.13 |
0.24 |
Indi 9 |
|
and |
141.46 |
142.99 |
1.52 |
1.01 |
3.5 |
0.003 |
0.02 |
0.05 |
Indi 9 |
|
and |
174.09 |
184.15 |
10.03 |
1.41 |
5.07 |
0.009 |
0.06 |
0.70 |
Indi 9 |
|
2006-118 |
5.79 |
36.28 |
30.4 |
1.34 |
6.69 |
0.02 |
0.07 |
0.59 |
Indi 9 |
|
2006-119 |
7.32 |
8.84 |
1.52 |
1.0 |
6.8 |
0.03 |
0.04 |
2.22 |
Indi 9 |
|
and |
10.37 |
11.89 |
1.52 |
1.66 |
6.6 |
0.003 |
0.04 |
0.08 |
Indi 9 |
|
and |
19.51 |
21.04 |
1.53 |
1.71 |
12.8 |
0.032 |
0.98 |
1.33 |
Indi 9 |
|
2006-120 |
5.79 |
7.77 |
1.98 |
1.21 |
13.6 |
0.053 |
0.08 |
3.07 |
Indi 9 |
|
and |
94.21 |
95.73 |
1.52 |
1.9 |
2.1 |
<0.001 |
0.02 |
0.11 |
Indi 9 |
|
and |
104.88 |
106.40 |
1.52 |
1.05 |
2.4 |
<0.001 |
0.01 |
0.01 |
Indi 9 |
|
and |
132.32 |
133.84 |
1.52 |
1.28 |
3.4 |
0.004 |
0.06 |
0.09 |
Indi 9 |
|
and |
135.37 |
136.89 |
1.52 |
1.04 |
4.5 |
0.012 |
0.09 |
0.22 |
Indi 9 |
|
2006-121 |
4.27 |
24.09 |
19.76 |
1.62 |
8.48 |
0.02 |
0.25 |
1.09 |
Indi 9 |
|
and |
25.61 |
33.23 |
7.61 |
2.31 |
14.48 |
0.05 |
0.57 |
1.02 |
Indi 9 |
|
2006-122 |
97.26 |
98.32 |
1.07 |
1.81 |
1.5 |
0.003 |
0.01 |
0.03 |
Indi 9 |
|
and |
109.45 |
112.50 |
3.05 |
2.5 |
2.0 |
0.003 |
0.04 |
0.11 |
Indi 9 |
|
and |
115.55 |
117.07 |
1.52 |
2.49 |
26.6 |
0.002 |
0.01 |
0.02 |
Indi 9 |
|
2006-124 |
39.33 |
48.48 |
9.14 |
2.64 |
424.0 |
0.009 |
0.09 |
0.40 |
Indi 9 |
|
including |
40.24 |
41.77 |
1.52 |
11.97 |
24.53 |
0.013 |
0.13 |
0.43 |
Indi 9 |
|
and |
115.55 |
118.60 |
3.05 |
1.12 |
4.5 |
0.006 |
0.04 |
0.07 |
Indi 9 |
|
and |
188.72 |
197.87 |
9.15 |
1.37 |
2.45 |
0.01 |
0.048 |
0.25 |
Indi 9 |
The Indi project is the subject of an option with New Cantech Ventures Ltd, pursuant to which the Pinnacle/Mountain Boy joint venture has earned a 55% interest.
E. Kruchkowski, P. Geo. is the qualified person under National Instrument 43-101 and are in charge of the exploration programs 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.