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Pinnacle Receives New 43 101 Preliminary Economic Assessment Increasing Resources for the Silver Coin Gold Project
Pinnacle Receives New 43 101 Preliminary Economic Assessment Increasing Resources for the Silver ...
About this update from Jayden Resources Inc
[{"type":"text","content":"\nPinnacle Receives New 43 101 Preliminary Economic Assessment Increasing Resources for the Silver Coin Gold Project\n\n\n Jan. 11, 2010 (TheNewswire.ca) -- Vancouver, B.C., January 11, 2010; Pinnacle Mines Ltd. (TSXV:PNL) (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. (NASDAQ:TTEK) (\"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 CalculationUsing a Base Case cut-off grade of 0.75 grams gold per ton (gpt) Tetra Tech reports the following gold resource (OTCBB:GORO) :\nTABLE 1-1: Silver Coin total classified resources Pinnacle Mines Ltd. - Silver Coin Gold ProjectDecember 2009 \nMeasured RESOURCES \nROCKTYPE Cutoff GradeAu (g/t) TONNES Avg. Grade Contained Metal(‘000) \n (000) Au(g/t) Ag(g/t) Zn(%) Au(oz) Ag(oz) Zn(lb) \nALL 0.25 8,895 1.28 7.04 0.29 365 2,012 55,967 \nALL 0.50 5,957 1.73 8.16 0.35 331 1,562 46,569 \nALL 0.75 4,308 2.16 8.96 0.40 299 1,241 38,246 \nALL 1.00 3,219 2.59 9.64 0.44 268 997 31,140 \nALL 1.25 2,505 3.01 10.27 0.47 243 827 26,017 \nALL 1.50 2,052 3.38 10.93 0.50 223 721 22,723 \n \nIndicated RESOURCES \nROCKTYPE Cutoff GradeAu (g/t) TONNES Avg. Grade Contained Metal(‘000) \n (000) Au(g/t) Ag(g/t) Zn(%) Au(oz) Ag(oz) Zn(lb) \nALL 0.25 18,385 1.02 5.99 0.20 602 3,544 82,522 \nALL 0.50 11,811 1.38 6.92 0.25 526 2,627 65,174 \nALL 0.75 8,0...