DRILLING BEGINS AT LA CALAVERA - OAXACA, MEXICO
PINNACLE MINES LTD. (PNL:TSX-V) is pleased to report that drilling will begin early next week at its La Calavera copper-silver-zinc property located in the State of Oaxaca, Mexico. Pinnacle has an option to acquire up to 70% of La Calavera from Chesapeake Gold Corp. (TSX.V-CKG, see news May 28, 2007).
In late September, the Company completed a 12,000 meter induced polarization-resistivity survey that indicated many potential zones of mineralization. The survey was oriented with east-west lines across potential Cretaceous carbonate host rocks that are in contact with a Tertiary granodiorite (mineralizer). Oxidized skarn mineralization was present locally at the surface. Geologic mapping suggested that granodiorite sills were present with skarn mineralization developed in adjacent limestone in contact above and below the sills. The large La Calavera property consists of two concessions totaling 8,267 hectares and is immediately adjacent to the Cobre Grande property controlled by Linear Metals Corp. Linear recently announced encouraging results from Cobre Grande.
The I.P.-resistivity results generated strong targets outward from the main granodiorite intrusive in prospective host rocks covering an area over 1000 meters long and 750 meters wide. During October the Company completed road access into the areas to be drilled. The initial drill program will entail up to 4500 meters. 14 targets have been selected and diamond drilling will begin with vertical holes to 300+ meters. Earlier this week, the Company received the required permit for drilling from the federal and state mining authorities. Cabo Drilling de Mexico has been contracted to conduct the drill program which will operate 24 hours per day.
Jeffrey L. Wilson is the qualified person under National Instrument 43-101 who is in charge of the exploration program on behalf of Pinnacle.
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 close proximity to numerous past and producing mines including the Silbak-Premier Mine and Barrick Gold’s famed Eskay Creek Mine.
For further information about this news release contact Andrew Bowering, VP of Finance, or John Van Duzen at 604-688-7377 or visit Pinnacle’s website at www.pinnaclemines.com for further information.
Respectfully Submitted,
“Paul F. Saxton”
President & CEO
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