🕐11.01.10 - 18:45 Uhr
Pinnacle Receives New 43-101 Preliminary Economic Assessment Increasing Resourc
es for the Silver Coin Gold Project
Pinnacle Receives New 43-101 Preliminary Economic Assessment Increasing Resources for the Silver Coin Gold Project
Vancouver, B.C., January 11, 2010; Pinnacle Mines Ltd. (TSXV: PNL; "Pinnacle" or the "Company") is pleased to announce that it has received the commissioned NI 43-101 Preliminary Economic Assessment Report for its Silver Coin gold project located near the town of Stewart, in NW British Columbia. The report, which was produced by the engineering firm Tetra Tech, Inc. ("Tetra Tech") based in Golden, Colorado, presents a Preliminary Economic Assessment ("PEA"), including an updated resource calculation, based on a total of 714 drill holes totaling 85,844 meters. The project is a joint venture with Mountain Boy Minerals Ltd. (TSXV: MTB) and includes 26 contiguous claims with a net area of 1255 Ha. Pinnacle owns 70% of the presently modeled gold project with the option to earn a larger percentage. The base case model includes production of a sulfide flotation concentrate which would be cyanide leached in a closed circuit process resulting in a directly saleable gold-silver dore product. At a 10% discount rate this model results in pre-tax Net Present Value (NPV) of US$58.3 million at a gold price of US$850.00 and an NPV of US$88.46 million at a gold price of US$900.00 for the Silver Coin project.
Resource Calculation
Using a Base Case cut-off grade of 0.75 grams gold per ton (gpt) Tetra Tech reports the following gold resource:
TABLE 1-1: Silver Coin total classified resources
Pinnacle Mines Ltd. � Silver Coin Gold Project
December 2009
Measured RESOURCES
ROCK
TYPE
Cutoff Grade
Au (g/t)
TONNES
Avg. Grade
Contained Metal
(000)
(000)
Au
(g/t)
Ag
(g/t)
Zn
(%)
Au
(oz)
Ag
(oz)
Zn
(lb)
ALL
0.25
8,895
1.28
7.04
0.29
365
2,012
55,967
ALL
0.50
5,957
1.73
8.16
0.35
331
1,562
46,569
ALL
0.75
4,308
2.16
8.96
0.40
299
1,241
38,246
ALL
1.00
3,219
2.59
9.64
0.44
268
997
31,140
ALL
1.25
2,505
3.01
10.27
0.47
243
827
26,017
ALL
1.50
2,052
3.38
10.93
0.50
223
721
22,723
Indicated RESOURCES
ROCK
TYPE
Cutoff Grade
Au (g/t)
TONNES
Avg. Grade
Contained Metal
(000)
(000)
Au
(g/t)
Ag
(g/t)
Zn
(%)
Au
(oz)
Ag
(oz)
Zn
(lb)
ALL
0.25
18,385
1.02
5.99
0.20
602
3,544
82,522
ALL
0.50
11,811
1.38
6.92
0.25
526
2,627
65,174
ALL
0.75
8,009
1.75
7.54
0.28
451
1,942
49,527
ALL
1.00
5,608
2.13
8.13
0.30
384
1,465
37,511
ALL
1.25
4,073
2.51
8.56
0.32
329
1,121
28,949
ALL
1.50
3,048
2.90
9.17
0.35
284
898
23,297
Measured + Indicated RESOURCES
ROCK
TYPE
Cutoff Grade
Au (g/t)
TONNES
Avg. Grade
Contained Metal
(000)
(000)
Au
(g/t)
Ag
(g/t)
Zn
(%)
Au
(oz)
Ag
(oz)
Zn
(lb)
ALL
0.25
27,279
1.10
6.33
0.23
967
5,556
138,441
ALL
0.50
17,767
1.50
7.33
0.29
857
4,189
111,750
ALL
0.75
12,317
1.89
8.04
0.32
749
3,184
87,762
ALL
1.00
8,827
2.30
8.68
0.35
652
2,462
68,635
ALL
1.25
6,578
2.70
9.21
0.38
572
1,949
54,962
Products & Services | Jobs
|
|
|
