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Silver Coin Update
Stewart,
BC – Pinnacle Mines Ltd. and Mountain
Boy Minerals Ltd. announce that assays have been received for the first two
holes from the 2007 exploration program. Silver Coin is a gold-silver-base
metal property located approximately 24 kilometers north
of Stewart, British Columbia in the Skeena Mining
Division.
The 2007 exploration
program which started in mid September includes 29 holes for approximately 4400 meters of
drilling. Of the 14 holes drilled so far, assays have now been received
for 2 holes. Core splitting and logging of all remaining holes is
underway. It is expected the Company will have assays from the
remaining holes during the next 6 weeks and will issue the results as they
are received. The remaining 14 are planned to be completed over the next 3
weeks. Weather conditions are variable and snow has already created a
minor interruption and may shut down the 2007 program before all holes are
completed. The table below lists the results of the most recent
assays.
|
DDH
|
From
(m)
|
To
(m)
|
Width
(m)
|
Au
g/t
|
Ag
g/t
|
Cu
%
|
Pb
%
|
Zn
%
|
CLAIM
TESTED
|
|
2007-207
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50.94
|
57.04
|
6.10
|
1.08
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12.15
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0.03
|
0.02
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0.06
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Big
Missouri
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|
2007-208
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157.58
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159.11
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1.52
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0.88
|
3.30
|
0.005
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0.06
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0.48
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Big
Missouri
|
|
2007-208
|
160.63
|
166.73
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6.10
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1.16
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7.45
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0.003
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0.02
|
0.05
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Big
Missouri
|
|
2007-208
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175.87
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194.16
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18.25
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2.29
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4.48
|
.006
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0.04
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0.60
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Big
Missouri
|
|
including
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178.92
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180.44
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1.52
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16.31
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12.4
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0.01
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0.08
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1.22
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Big
Missouri
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|
2007-208
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195.68
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198.73
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3.04
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0.82
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3.35
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0.003
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0.03
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0.17
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Big
Missouri
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2007-208
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206.35
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209.40
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3.05
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1.04
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9.90
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0.004
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0.09
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0.71
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Big
Missouri
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2007-208
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215.49
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218.54
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3.05
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1.55
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8.00
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0.005
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0.01
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0.02
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Big
Missouri
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Prior to this year’s drilling program, MineFill
Services of Seattle, WA completed a resource calculation on Silver Coin in
compliance with CIMM (2000) Standards at a cut-off of 0.75 g/t which totaled
inferred resource of an estimated 1,370,000 ounces
of gold and 6,185,000 million ounces of silver. The inferred resource
consists of 25.66 million tonnes grading 1.66 g/t gold, 7.49 g/t silver and
0.28% zinc. The 2007 drill program is aimed at continuing the resource
to the north and to surface in some areas which will add to the overall
resource. A revised resource calculation will be completed once the
drill program has been completed and all assays have been received.
The Silver Coin project and associated minerals 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%).
Alex Walus, 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 with Chesapeake Gold Corp. on the La Calavera and Rio Minas projects
in the state of Oaxaca.
For further information about this news release contact
Andrew Bowering, Vice 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
“Paul Saxton”
President and CEO
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