FURTHER ASSAY RESULTS FROM SILVER COIN DRILLING
Stewart, BC Pinnacle Mines and Mountain Boy Minerals announce that all assay results have now been received for the drilling on the Silver Coin project from the 2006 exploration program. These holes have intersected more high-grade gold and silver values in the Main Breccia zone of the Silver Coin property. Silver Coin is a gold-silver-base metal property located approximately 24 kilometers north of Stewart, British Columbia in the Skeena Mining Division.
During the 2006 exploration season, 24,206 meters of drilling was completed in 115 holes on the property area. Work has indicated that the Main Breccia zone is open along strike to the south and north of the current drilling.
Hole 188 and 189 had no assays greater than 1g/t Au even though the Main Breccia was intersected. Assay results greater than 1g/t for holes 190-199 inclusive are shown below:
DDH |
From |
To |
Width |
Au |
Ag |
Cu |
Pb |
Zn |
CLAIM TESTED |
|
|
|
|
|
|
|
|
|
|
|
|
2006-190 |
103.96 |
105.03 |
1.07 |
1.0 |
144.5 |
0.055 |
1.03 |
13.4 |
Big Missouri |
|
2006-191 |
59.15 |
60.82 |
1.67 |
4.88 |
71.0 |
0.406 |
2.39 |
12.3 |
Big Missouri |
|
and |
190.55 |
192.23 |
1.68 |
1.11 |
0.8 |
0.001 |
0.01 |
0.1 |
Big Missouri |
|
and |
230.18 |
231.15 |
1.07 |
4.09 |
8.2 |
0.014 |
0.03 |
0.17 |
Big Missouri |
|
and |
236.89 |
239.94 |
3.05 |
2.46 |
1.8 |
0.004 |
0.01 |
0.01 |
Big Missouri |
|
2006-192 |
61.59 |
73.78 |
12.19 |
1.59 |
5.67 |
0.002 |
0.019 |
0.03 |
Big Missouri |
|
and |
81.40 |
82.92 |
1.52 |
1.78 |
5.3 |
0.004 |
0.01 |
0.07 |
Big Missouri |
|
and |
106.55 |
108.08 |
1.53 |
1.56 |
8.6 |
0.003 |
0.05 |
0.44 |
Big Missouri |
|
2006-193 |
17.38 |
20.43 |
3.05 |
1.06 |
5.2 |
0.005 |
0.02 |
0.07 |
Big Missouri |
|
and |
29.57 |
32.62 |
3.05 |
2.35 |
8.2 |
0.008 |
0.06 |
0.06 |
Big Missouri |
|
and |
98.17 |
108.84 |
10.67 |
3.82 |
51.23 |
0.006 |
0.035 |
0.084 |
Big Missouri |
|
2006-194 |
60.06 |
73.78 |
13.72 |
1.47 |
2.40 |
0.002 |
0.013 |
0.042 |
Big Missouri |
|
and |
79.88 |
81.40 |
1.52 |
2.15 |
5.5 |
0.006 |
0.03 |
0.32 |
Big Missouri |
|
and |
87.50 |
89.02 |
1.52 |
3.0 |
5.6 |
0.007 |
0.06 |
0.15 |
Big Missouri |
|
2006-195 |
29.57 |
38.72 |
9.15 |
1.24 |
6.0 |
0.01 |
0.04 |
0.42 |
Big Missouri |
|
and |
46.34 |
47.87 |
1.53 |
1.23 |
4.3 |
0.005 |
0.01 |
0.03 |
Big Missouri |
|
and |
92.53 |
94.05 |
1.52 |
1.15 |
6.8 |
0.008 |
0.08 |
0.23 |
Big Missouri |
|
and |
101.72 |
102.74 |
1.52 |
1.62 |
7.6 |
0.008 |
0.12 |
0.29 |
Big Missouri |
|
2006-196 |
85.98 |
97.50 |
1.52 |
1.0 |
10.9 |
1.011 |
0.03 |
0.09 |
Big Missouri |
|
and |
93.60 |
96.65 |
3.05 |
1.52 |
2.5 |
0.004 |
0.04 |
0.05 |
Big Missouri |
|
2006-197 |
68.45 |
78.35 |
9.9 |
1.83 |
7.03 |
0.004 |
0.06 |
0.14 |
Big Missouri |
|
and |
88.41 |
90.24 |
1.83 |
1.66 |
8.0 |
0.04 |
0.10 |
0.40 |
Big Missouri |
|
2006-198 |
15.85 |
18.90 |
3.05 |
2.26 |
10.05 |
0.006 |
0.15 |
0.30 |
Big Missouri |
|
and |
32.62 |
34.015 |
1.52 |
1.36 |
3.5 |
0.002 |
0.08 |
0.11 |
Big Missouri |
|
and |
38.72 |
41.77 |
3.05 |
1.46 |
19.4 |
0.011 |
0.06 |
0.22 |
Big Missouri |
|
and |
87.80 |
88.72 |
0.91 |
1.02 |
6.70 |
0.005 |
0.01 |
0.02 |
Big Missouri |
|
and |
90.55 |
93.60 |
3.05 |
1.16 |
7.50 |
0.005 |
0.03 |
0.11 |
Big Missouri |
|
and |
105.03 |
106.86 |
1.83 |
1.22 |
7.90 |
0.006 |
0.08 |
0.16 |
Big Missouri |
|
|
|
|
|
|
|
|
|
||
|
2006-199 |
96.55 |
110.37 |
13.7 |
1.92 |
3.43 |
0.002 |
0.04 |
0.03 |
Big Missouri |
|
and |
124.09 |
127.13 |
3.05 |
1.15 |
0.4 |
0.005 |
0.01 |
0.03 |
Big Missouri |
Prior to the 2006 drilling program, MineFill Services of Seattle, WA completed a resource calculation on Silver Coin in compliance with CIMM (2000) Standards at geometric cut-off which indicated a total inferred resource of 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 gold, 6.64 g/t silver, 0.06% copper, 0.19% lead and 0.41% zinc. The 2006 drill program was aimed at possibly doubling or tripling this resource. MineFill is currently preparing a revised resource calculation which will include the 2006 drilling results. The report is expected to be complete in March 2007.
The Silver Coin project and associated minerals claims is a 51-49% joint venture between Pinnacle Mines and Mountain Boy Minerals. The Kansas claim is the subject of an option/joint venture with Tenajon Resources Corp., pursuant to which the Pinnacle/Mountain Boy joint venture is earning a 60% interest through the expenditure of $1,000,000 on exploration over four years. The joint venture can earn a 70% interest in the Kansas claim by exercising an option to deliver a feasibility study within four years of earning the initial 60%.
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 company with assets in Canada 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 Mexico, Pinnacle has an option to acquire the Tuligtic property, a copper-gold target near Mexico City as well as an option to acquire 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.