PCR Pinecrest Resources Ltd

Mr. Edward Farrauto, President and CEO of Pinecrest Resources Ltd. (TSX
VENTURE:PCR) ("Pinecrest" or the "Company) is pleased to announce the beginning
of a Phase 1 drilling program on the Company's Espiritu gold/silver polymetallic
project, Sonora, Mexico . The phase I drill program will comprise 500 metres of
core drilling to test two silver/gold polymetallic mineralized zones outlined
during the Phase I exploration prospecting, mapping and soil sampling program.
Pursuant to the terms of an option agreement with Kootenay Gold Inc. (TSX
VENTURE:KTN) ("Kootenay Gold"), Pinecrest can earn a 50% interest in the
Espiritu project by spending $1.0 million on exploration over a four year period
and by issuing up to 750,000 common shares of Pinecrest over 3 years. Pinecrest
is the operator on the project.


Two drill holes will be collared on the Road Show Zone to test a 500 x 500 metre
target characterized by the presence of Ag/Au/Pb/Zn/Cu mineralization as
replacement, breccia, vein and stockwork zones associated with
ferrodolomite-ankerite and manganese alteration hosted in limestone/rhyolite
dykes. From 54 prospector samples collected during phase I exploration, silver
values include: 1230 g/t, 1140 g/t, 775 g/t, 353 g/t, 434 g/t, 336 g/t, 527 g/t,
277 g/t, 217 g/t, and 736 g/t and gold values include 3.66 g/t, 1.6 g/t, 3.39
g/t, 1.51 g/t, 2.9 g/t, 2.1 g/t and 4.5 g/t associated with highly anomalous
lead, zinc, mercury and manganese. This style of mineralization is similar to
many limestone-hosted replacement deposits of the Mesa Central district of
Mexico that include the Naica and Santa Eulalia silver mines. 


Two drill holes will test the Au/Ag veins and stockwork mineralization in the
Molinos zone which is located approximately 2.0 km southeast of the Road Show
Zone. Mineralization in the Molinos zone is hosted as veins and stockwork within
an easterly trending granitic plug and along its immediate contacts. From 31
prospector samples collected during the phase 1 exploration, silver values
include 1380 g/t, 1350 g/t, 1231 g/t, 541 g/t, 504 g/t, 841g/t and 216 g/t
silver with 0.97 g/t gold. Mineralization is associated with highly anomalous
copper, lead, zinc and antimony with elevated molybdenum, tungsten and mercury.
A 500 x 1000 metre soil survey completed over the Molinos zone outlined a broad
zone of highly anomalous gold, silver, lead, zinc mineralization: with gold
values in soil of 406 ppb, 348 ppb, 361 ppb, 185 ppb, 140 ppb, 111 ppb and 106
ppb and silver values of 72 g/t, 55g/t, 53 g/t, 50 g/t, 22 g/t and 21 g/t noted
in soils. 


The Molinos zone is interpreted to represent the deeper zones of mineralization
associated with high temperature carbonate-hosted replacement ("CRD") deposits.
This level of mineralization is commonly associated with porphyry, skarn and
chimney/manto styles of mineralization and is suggestive of a continuum of
mineralization between the Road Show into the Molinos Zone. 


In addition to the reconnaissance drill program, trenching will be done in other
areas of mineralization in addition to the Road Show and Molinos targets.
Trenching on the Old Mines/Pediment zone, located approximately 2-3 km north of
the Road Show, will be designed to investigate areas of limestone breccia
mineralization where prospecting has obtained silver values of 1160 g/t, 348
g/t, 141 g/t and 140 g/t silver and of 2.0 g/t, 1.29 g/t and 0.57 g/t gold. The
technical disclosure in this release has been reviewed and verified by James
McDonald, P.Geo., a qualified person ("QP") as defined by National Instrument
43-101 - Standards of Disclosure for Mineral Projects. Mr. McDonald is a
director of Kootenay Gold. 


ON BEHALF OF THE BOARD

Edward Farrauto, CGA, President and CEO

Forward-Looking Statements: Statements in this release that are forward-looking
statements are subject to various risks and uncertainties concerning the
specific factors disclosed and elsewhere in the company's periodic filings with
Canadian securities regulators. Such information contained herein represents
management's best judgment as of the date hereof based on information currently
available. Pinecrest does not assume the obligation to update any
forward-looking statements.

Pinecrest Resources (TSXV:PCR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Pinecrest Resources (TSXV:PCR)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024