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Pinnacle Silver and Gold Corp. says continued ground follow-up on shafts, adits and prospecting pits interpreted from a recent airborne LiDAR survey at its Potrero project in Durango, Mexico has resulted in further discoveries of polymetallic mineralization. Work on the northern El Potrero claim block identified silver-rich veins with assays up to 1,159 g/t Ag, while field work on the Maria Fernanda 2 (MF2) concession extended previously announced silver-lead-zinc (Ag-Pb-Zn) mineralization along strike.
As previously announced, the LiDAR survey was flown over the company’s entire 1,074-hectare property and identified structural trends, previously unknown structures, and a total of 6 shafts, 64 adits and 51 prospecting pits across the two claim blocks comprising the project.
Continued field work has now revealed a larger system with multiple polymetallic veins on both claim blocks.
On the northern El Potrero block, a series of adits discovered on northeast-trending vein structures—dubbed “Minas Nuevas”—returned assays up to 0.252 g/t Au, 1,159 g/t Ag, 4.72% Pb and 0.10% Zn over 0.35 m. The company notes the structures trend 030–040° and dip 75–80° SE, and that the artisanal workings are located in the south-central part of the block, approximately 3.5 km south-southwest of the plant.
The company also states that the Minas Nuevas mineralization is associated with disseminated to semi-massive pyrite, galena, sphalerite, arsenopyrite and quartz veinlets, and that preliminary sampling indicates Ag-Pb dominance.
Highlights of channel sampling on Minas Nuevas polymetallic veins include:
On the MF2 concession to the southwest, the “Paulina Breccia” zone with pyrite-sphalerite-galena mineralization has been extended approximately 400 m along strike to the northeast from the initial discovery. The company reports that first-pass sampling showed consistent tenor along strike, including:
Also on the MF2 block, an artisanal mine called “Las Guasimas” has yielded assays up to 3.21 g/t Au, 349 g/t Ag, 3.49% Pb and 5.30% Zn from dump grabs. The company further reports a 0.60 m channel sample at the mine opening returned 0.02 g/t Au, 117 g/t Ag, 0.55% Pb and 0.15% Zn.
The company says cleaning and rehabilitation of the old workings will be necessary before a proper underground sampling program can be undertaken.
Because the Las Guasimas and Paulina Breccia zones appear to be along strike from each other, the company says they extend the apparent strike length of the vein system on MF2 to approximately 1,100 m. It also states that preliminary mapping and prospecting indicate other parallel veins, and that the system is 6.5 km from the Minas Nuevas zone on the Potrero block, indicating a district-scale mineralizing system.
Highlights of channel sampling on the Paulina Breccia and Las Guasimas veins on the MF2 block include:
The company says the newly discovered polymetallic veins have a northeasterly trend, in contrast to the dominantly northwesterly trend of the gold-silver veins in the northern part of the Potrero property. Follow-up mapping, sampling and prospecting are continuing on both the MF2 and El Potrero blocks, and additional samples are being submitted to SGS Labs in Durango for assaying.
Pinnacle reports that eight channel samples were taken at Minas Nuevas, two at Las Guasimas (plus the two dump grabs), and 33 on the Paulina Breccia, sampling both vein and wall rock material. The company states that wall rock is unmineralized.
The technical results in the release are reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). Pinnacle says it implemented industry-standard practices for sample preparation, security and analysis, including the use of certified reference material samples and blank samples inserted into sample batches on a predetermined frequency basis.
Systematic chip channel sampling was completed across exposed mineralized structures using a hammer and maul. The protocol for sample lengths was not longer than 2 m or shorter than 0.3 m. The company notes that veins tend to be steeply dipping to vertical, and that the samples are therefore reasonably close to representing true widths. It also states that grab samples are indicative of local mineralization and should not be considered representative.
Samples were bagged in pre-numbered plastic bags, tagged, bulk bagged in rice bags in batches not to exceed 40 kg, numbered, and delivered directly to the SGS laboratory facility in Durango for preparation and analysis. The lab is accredited to ISO/IEC 17025:2017. Pinnacle says samples were delivered in person by the contract geologist who conducted the sampling under the supervision of the Qualified Person.
The company states that SGS sample preparation code G_PRP89 was used, including crushing to 75% less than 2 mm, riffle splitting off 250 g, and pulverizing to >85% passing 75 microns. Gold was analyzed using code GA_FA A30V5 with Fire Assay on 30 g samples and an Atomic Absorption Spectroscopy finish. An ICP-OES package (GE_ICP40Q12) including 33 elements and 4-acid digestion was used to determine Ag, Zn, Pb, Cu and other elements.
Mr. Jorge Ortega, P. Geo, a Qualified Person as defined by NI 43-101 and author of the Potrero Project NI 43-101 Technical Report, reviewed, verified and approved the technical information for disclosure.
Pinnacle’s El Potrero project is located in the Sierra Madre Occidental of western Mexico and lies within 35 km of four operating mines, including the 4,000 tpd Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).
The company describes the project as hosting a low-sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series, with three historic mines along a 500 m strike length. It says the property has been in private hands for almost 40 years and has not been systematically explored by modern methods.
Pinnacle also states that a previously operational 100 tpd plant on site can be refurbished or rebuilt and that historic underground mine workings could be rehabilitated at relatively low cost to achieve near-term production once permits are in place. It says the property is road accessible with a power line within three kilometres.
Robert Archer, Pinnacle’s President & CEO, said the discoveries validate the effectiveness of the LiDAR survey and demonstrate the district-scale potential of the mineralizing system at El Potrero, noting that the company has identified both Au-Ag and Au-Ag-Pb-Zn mineralizing systems across the project.
Signed: Robert A. Archer, President & CEO.
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