Mining Companies - Gold Companies

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Pinnacle Mines Ltd is a Canadian based junior mineral exploration and development company whose primary assets are located in Canada.  Pinnacle holds controlling interest in two properties, Silver Coin and Surprise Creek, which are located near the historic mining community of Stewart in Northwestern British Columbia which are in proximity to numerous past and producing mines including the Silbak-Premier Mine and Barrick Gold’s famed Eskay Creek Mine.  Pinnacle is listed on the Toronto Venture Exchange under the symbol (PNL).  Sp on 14 March 2010 was .19. 

Projects

Silver Coin

Silver Coin is a gold-silver base metal property located 25 kilometers north of Stewart, British Columbia in the Skeena Mining Division. The project covers approximately 1,500 hectares and features a zone of faulting and shearing with accompanying mineralization up to 300 meters wide that has been traced for 2.5 kilometers.  Silver Coin shares many characteristics with the nearby Silbak-Premier Mine, located just 5km to the south.  Over its mine life, the Silbak-Premier Mine produced 4.7 million tons yielding approximately 1.8 million ounces gold, 41 million ounces silver, 4.2 million pounds copper, 62 million pounds lead and 20 million pounds zinc.

Exploration

To date, 714 drill holes totaling over approximately 85,844 meters have been completed at Silver Coin. This drilling has partially outlined a gold-silver-zinc mineralized body that remains open to depth and to the north. According to a resource calculation completed in 2007 by Minefill Services Inc., Silver Coin hosts a NI 43-101 compliant resource of 488,202 ounces of gold in the Measured + Indicated category and 1,000,499 ounces of gold in the Inferred category at an average grade of 2.317 g/t and 6,179,000 ounces of silver (grade 7.49 g/t) at cut-off grade of 0.75 g/t.

Current Work

Engineering Study

The Company has contracted Tetra Tech Inc., a well-known engineering consulting firm to complete a new NI 43-101 compliant Preliminary Economic Assessment (“PEA”) and an updated Resource Estimate incorporating the 2008 drill results on the Silver Coin project.  The PEA will proceed in two stages that will include a complete review of the Silver Coin drilling data base from which they will generate a new block model of grade, lithology and resource classification (Measured, Indicated, and Inferred). The block model in turn will be the basis for designing a hypothetical open pit and estimating the tonnage and grade of the resource, along with the volume of waste rock. In sequential fashion they will optimize a mine plan and then apply site-relevant economic parameters to develop a cash flow model and estimate the potential economic return expected from mining the deposit. Their review and report will also incorporate the metallurgical and environmental studies already underway as well as propose a layout of the required infrastructure to develop the project.

Pipeline Project:

Surprise Creek

The Surprise Creek property is located about 32 kilometers northeast of Stewart, British Columbia in the Skeena Mining Division. It consists of 19 claims covering approximately 7,472 hectares located between Todd and Surprise creeks. The property is currently 100% owned by Pinnacle.

The property lies within a belt of Jurassic mostly volcanic rocks extending from the Kitsault area to Stikine River. This belt hosts numerous precious and base metal deposits, including the producing Eskay Creek and former Snip, Granduc and Premier Mines.

Types of mineralization found both in place and float include:

1.      Extremely fine grained syngenetic pyrite, sphalerite and galena with high silver, mercury, and manganium hosted in black chert, limestone and mudstone.

2.      Banded iron formation.

3.      Chalcopyrite and molybdenite bearing quartz-pyrite-pyrrhotite veins and pods related to intrusion of quartz monzonite.

Stock Structure

http://pinnaclemines.com/assets/files/financials/Dec.31.08-FS.pdf

Year End 2008

S/O 91,576,147

Stock Options 1,020,000

Warrants 49,481,250

Corporate

Dr. Lawrence Dick, Ph.D., M.Sc., B.Sc.
                     CEO and Director

Herrick Lau                                                                                FO and Director

Andrew Cheng
                                                            Director

Ringo Hui
                                                                    Director

Robert Wolfe P.Eng.
                                                   Director

William Ng
                                                                  Director

Financials

Q3 2009

Cash     1,048,980

Liabilities  974,753

Expenses 926,932

Gain/Loss      (.01)

News Releases

Media

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written by Jeff Nielson, October 14, 2010

They might have to change the name of the property to "Gold Coin". That's a nice intercept!

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written by Chad McNamara, October 14, 2010

Jayden drills 55 m of 8.42 g/t Au at Silver Coin

2010-10-14 15:33 ET - News Release

Also News Release (C-MTB) Mountain Boy Minerals Ltd

Mr. David Eaton of Jayden reports

JAYDEN RESOURCES INTERSECTS 55M GRADING 8.42 G/T GOLD INCLUDING 7M GRADING 32.89 G/T AT SILVER COIN

Assays from Jayden Resources Inc.'s drill hole SC10-311 returned 55 metres averaging 8.42 grams per tonne (0.246 oz/ton) gold and 12.53 grams per tonne (0.366 oz/ton) silver, including 7.0 meters of 32.89 grams per tonne (0.960 oz/ton) gold.

ASSAY HIGHLIGHTS

Intercept
Hole ID From (m) To(m) length (m) Au(g/t) Au(oz/t) Ag(g/t) Ag(oz/t) Zn(ppm)

SC10-311 73.0 128.0 55.0 8.42 0.246 12.53 0.366 3967
Including 76.0 83.0 7.0 32.89 0.960 45.36 1.32 11224
Including 99.0 103.0 4.0 18.21 0.532 22.40 0.653 7498
Including 110.0 116.0 6.0 11.64 0.340 10.40 0.304 4568

Drilling Program

The Company has completed 18 holes totalling 2697 metres to date as part of the planned 2010 program, which has addressed two key objectives:

* Infill holes to aid in continuing resource studies and confirmation of the grade and continuity of the mineralization;
* Step-out holes to explore for continuation of the mineralization to the north.

"This drill program is designed largely to confirm previous results obtained from more than 700 drill holes. The results from this hole enhance our confidence in the grade and continuity of this substantial deposit at Silver Coin," comments CEO, David Eaton.

Technical information in this press release was prepared and reviewed by Robert Perry, M.Sc., and Certified Professional Geologist as recognized by the American Institute of Professional Geologists (AIPG), also recognized as a Qualified Person under the guidelines of National Instrument 43-101. Drill intersections were calculated using a cutoff of 0.30 g/t Au, and are reported as drilled thicknesses. Work to determine true thicknesses of mineralization are ongoing. Individual samples below the stated cutoff grade of 0.30 g/t Au are occasionally included in the calculated drill intersections, but only to the extent that the average grade in any two adjacent samples remains above the cutoff. Drill samples were assayed by Inspectorate Exploration and Mining Services Ltd. (ISO9001:200 in Richmond, B.C. for gold by fire assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 10.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream. Samples were also analyzed for a 32-element geochemical suite using ICP-MS.

We seek Safe Harbor.

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