Pinnacle Silver and Gold (PINN ) has extended the previously announced high-grade gold-silver mineralization at the historic Pinos Cuates mine in Mexico.
Pinos Cuates is part of the wider El Potrero project currently being worked up by Pinnacle.
Horizontal drilling at Pinos Cuates had already intersected a 13.18 metre core length assaying 9.69 grams per tonne gold and 143 grams per tonne.
Now, follow-up drilling from the Main Level below, drilled up dip on the vein, has intersected a well-mineralized section returning 6.19 grams gold and 90 grams silver over a core length of 10.89 metres.
The best mineralized section, with visible gold and silver sulphides, returned 58.2 grams gold per tonne and 631 grams silver over 0.41 metres.
Additional holes have been drilled to better define the continuity of this zone and assays are pending.
To date, 76 holes have been drilled and assays received for the first 53 (see Table 1 below). Drilling is ongoing at Pinos Cuates and it is anticipated that the drill will move to Dos de Mayo starting with hole EPUG26084.
“We are very pleased to see the continuity of grade in this area of the Pinos Cuates mine,” said Robert Archer, chief executive of Pinnacle.
“Hole EPUG26068 was assayed on a ‘rush’ basis due to the visibly apparent high-grade mineralization and to allow time for follow-up drilling before the drill was moved to the Dos de Mayo mine. The intersection in hole EPUG26068 is approximately 15 metres down-dip of that in hole EPUG26035, and the continuity will help with stope definition once mine planning commences later in the year. Assays have been received up to hole EPUG26053, with others pending. Significantly, results to date indicate that, while many holes intersected only the fringes of the vein zone, with the core having been mined out, holes such as ‘26035 and ‘26068 that intersected the entirety of the vein, have returned very strong results. This implies that the mineralization outside of the limited mine workings should still be intact.”
View from Vox
Rapid progress from Pinnacle, with the path to production becoming ever clear. As it stands, surface drilling is anticipated to commence in October and will fill in gaps between the historic mines, as well as testing up and down dip and along strike to the northwest on the Dos de Mayo vein. Other mineralized veins such as El Capulin and La Estrella will also be drilled for the first time ever. The combined results will then be used to generate an internal resource that will in turn be used to develop a preliminary mine plan.