Business
Silver Coin Drilling Encounters Mineralization - 48 Holes Completed
Trading Symbols: TSX.V:PNL and O7M - Frankfurt Stock Exchange VANCOUVER, July 23 /CNW/ - Pinnacle...
About this update from Jayden Resources Inc
[{"type":"text","content":"\n\n\n\nTrading Symbols: TSX.V:PNL\n\n\nand O7M - Frankfurt Stock Exchange\n\n\nVANCOUVER, July 23 /CNW/ - Pinnacle Mines and Mountain Boy Minerals are\npleased to announce that a 10,000 meter drill program is underway at the\nSilver Coin property near Stewart, BC and to date 48 of 59 planned holes have\nbeen completed. Two diamond drills have been operating at the project since\nthe latter part of June. The 2008 drill program is designed to add precious\nmetal resources and to improve the resource categories already established in\n43-101 compliant resource calculation and technical report on Silver Coin\nprepared in April 2007 by MineFill Services, Inc. Once the 2008 drill program\nhas been completed, a new resource calculation will be carried out by Snowden\nConsultants of Vancouver, BC.\n\n\nForty-eight holes have been completed at Silver Coin so far this year at\nan average depth of 150 meters per hole. Company geologists report that core\ncutting is keeping up with the drilling and core splits are being sent for\nassaying to Assayers Canada of Vancouver, BC. Pinnacle expects to start\nreceiving results for the first holes beginning in early August. The\ngeologists also report that drilling has been encountering mineralization in\nmost holes. Mr. Alex Walus is the Company's qualified person under NI 43-101.\n\n\nMetallurgical testing of Silver Coin mineralized material is also\nunderway. This testing program will study flotation and/or cyanidation\ntechniques for the separation of metals from rock. Mr. Frank Wright is the\nCompany's qualified person for metallurgical study purposes.\n\n\nManagement is currently encouraged by the expedient progress, efficiency\nand results of this year's drill program which is operating below the\nforecasted budget and because of this the Company is contemplating the\npossibility of extending the program.\n\n\nCorporate Update\n\n\n----------------\n\n\nAt the Company's Annual General Meeting held on June 25, 2008,\nshareholders approved the re-election of Paul Saxton, Gerald Sneddon, Susan Li\nand Andrew Bowering as the Company's directors for the ensuing year. Davidson\n& Company, Chartered Accountants were newly appointed as the Company's\nAuditors. Disinterested shareholders also approved of the Company's 10%\nrolling Stock Option Plan. Subsequent to the AGM, directors re-appointed P...