PINNACLE MINES ADVANCES SILVER COIN PROJECT SKEENA MINING DIVISION, BRITISH COLUMBIA
Vancouver, B.C. - Pinnacle Mines Ltd. is pleased to announce it has contracted Snowden Mining Group in Vancouver to compile and evaluate all drill data on the Company’s Silver Coin property in the Skeena Mining Division in northern British Columbia. The property consists of 25 claims comprising approximately 1,500 hectares. Mineralization consists of epithermal gold-zinc-silver bearing silicified breccias, veins and stockworks hosted in altered Jurassic andesites. The structurally controlled deposit is greater than 800 meters long, up to 300 meters wide and up to 100 meters in thickness. Measured and indicated in-pit resources at a 0.75 gpt gold cutoff grade are presently estimated at 8.9 million tonnes grading 1.46 gpt gold (416,700 ozs) plus an inferred resource of 13.2 million tonnes grading 2.15 gpt gold (913,000 ozs) with a 3:1 stripping ratio. These resource estimates are NI 43-101 compliant.
In-pit mineral resource by category above 0.75 g/t Au-Equivalent
Silver Coin 43-101 Technical Report Minefill Services Inc. April 27, 2007
|
Class |
Tonnes |
Au-Eq |
Au |
Ag |
Zn |
Au |
Au-Eq (oz) |
|
Measured |
1,010,474 |
4.754 |
3.721 |
14.487 |
0.448 |
120,880 |
129,844 |
|
Indicated |
7,884,484 |
1.922 |
1.167 |
10.367 |
0.298 |
295,811 |
345,865 |
|
M+I |
8,894,958 |
2.244 |
1.457 |
10.835 |
0.315 |
416,691 |
475,709 |
|
Inferred |
13,214,809 |
2.737 |
2.149 |
5.927 |
0.276 |
912,992 |
960,955 |
Snowden will evaluate data from nearly 600 core holes and recommend deposit infill and edge drilling to upgrade the resource confidence categories. Also during this process, Snowden will identify and recommend drilling in areas of potential underground mining. Additional drilling will be conducted during 2008 and core drilling from 2007 and 2008 will be incorporated into an updated data base and a new NI 43-101 technical report will be compiled by Snowden.
The Silver Coin project and associated mineral claims is a 51-49% joint venture between Pinnacle Mines and Mountain Boy Minerals except for the Kansas claim which is owned 40% by Tenajon Resources Corp. and 60% by Pinnacle and Mountain Boy (51-49%).
Pinnacle Mines is a Canadian based mineral exploration and development company with assets in Canada and Mexico. In Canada, Pinnacle holds the Silver Coin property in near proximity to numerous past and producing mines including the Silbak-Premier Mine and Barrick Gold’s Eskay Creek Mine. In Mexico, Pinnacle has options to acquire and is currently exploring two copper-gold-silver targets located within the state of Oaxaca.
Mr. Jeffrey Wilson, the Company’s Vice-President of Exploration, is the qualified person under NI 43-101 who supervised the preparation of this news release.
For further information contact Paul Saxton, President, or John Van Duzen at 604-688-7377 or visit Pinnacle’s website at www.pinnaclemines.com.
On behalf of the Board of Directors
“Paul Saxton”
President & 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.