Freeport-McMoRan Inc. press release
More High-Grade on Silver Coin with Holes 114, 132 and 158 Intersecting 30.65 g/t, 23.14 g/t and 44.1 g/t Gold
NYSE - New York Stock Exchange · Copper · Gold · Molybdenum · United States
Trading Symbol: TSX-MTB
STEWART, BC, Oct. 25 /CNW/ - Pinnacle Mines Ltd., Mountain Boy Minerals Ltd. and Tenajon Resources Corp. announce that more assays have been received for the 2006 exploration program and several holes have intersected more high-grade gold and silver values in the Main Breccia zone of the Silver Coin and Kansas claim properties. Silver Coin is a gold-silver-base metal property located about 24 kilometers north of Stewart, British Columbia in the Skeena Mining Division. During the 2006 exploration season, which ended last week, 24,206 meters of drilling was completed in 115 holes on the property. Work has indicated that the Main Breccia zone is open along strike to the south and north of the current drilling. Of the 115 holes drilled, assays have now been received for 45. Drilled core is still being logged and split which will continue over the coming weeks. It is expected the Company will have assays from the remaining 70 holes during the next 6-8 weeks and will issue the results as they are received. The table below lists results from the most recent assays. It should be noted that 3 drills worked the property and hence the break in numbering sequence of the drill holes. Hole 134 had no significant mineralization.
<< DDH From To Width Au Ag Cu Pb Zn CLAIM (m) (m) (m) g/t g/t % % % TESTED
2006- 51.52 56.10 4.56 1.91 3.97 0.002 0.04 0.08 Kansas 113 and 162.35 164.33 1.98 1.51 2.60 0.005 0.06 0.31 Kansas
2006- 171.95 173.48 1.53 2.42 7.6 0.008 0.02 0.09 Kansas 114 and 191.77 194.82 3.05 30.65 5.6 0.006 0.02 0.06 Kansas
2006- 12.58 15.40 2.82 1.19 6.44 0.009 0.28 0.89 Big 115 Missouri and 47.26 48.48 1.22 1.69 4.3 0.006 0.19 0.62 Big Missouri and 71.95 73.78 1.83 5.25 21.4 0.039 0.48 1.05 Big Missouri and 109.45 139.94 30.49 1.46 8.53 0.03 0.13 0.67 Big Missouri and 141.46 142.99 1.53 1.1 2.0 0.003 0.08 0.21 Big Missouri and 146.04 149.09 3.05 1.45 1.7 0.004 0.04 0.08 Big Missouri and 164.33 170.43 6.1 1.04 5.42 0.003 0.03 0.06 Big Missouri and 188.72 190.24 1.52 2.08 4.1 0.004 0.06 0.28 Big Missouri
2006- 13.41 16.01 2.60 2.98 63.4 0.11 2.10 4.92 Big 116 Missouri and 27.36 28.66 1.30 2.41 7.3 0.024 0.04 0.11 Big Missouri and 33.23 36.28 3.05 1.42 2.1 0.003 0.01 0.03 Big Missouri and 94.21 95.73 1.52 1.21 9.4 0.008 0.25 0.67 Big Missouri and 106.4 109.45 3.05 1.25 2.0 0.008 0.03 0.05 Big Missouri and 164.33 173.48 9.15 1.44 4.75 0.005 0.097 0.13 Big Missouri
2006- 63.11 66.16 3.05 1.36 13.4 0.012 0.08 0.19 Kansas 132 and 79.88 81.40 1.52 1.13 47.2 0.004 0.06 0.11 Kansas and 110.21 118.29 8.08 4.0 222.48 0.006 0.08 0.20 Kansas incl- uding 110.21 111.43 1.22 23.14 1409.0 0.02 0.39 0.98 Kansas
2006- 20.12 23.78 3.66 4.49 79.96 0.04 1.35 2.40 Kansas 133 and 61.59 63.11 1.52 1.41 15.2 0.02 0.21 0.71 Kansas and 74.24 75.76 1.52 6.1 96.4 0.098 0.22 0.64 Kansas and 110.37 111.59 1.22 3.73 10.4 0.012 0.37 0.62 Kansas and 124.70 125.61 0.91 2.86 15.1 0.016 0.35 0.53 Kansas
2006- 46.65 47.87 1.22 3.32 6.0 0.013 0.04 0.08 Kansas 135 and 79.88 85.82 5.94 3.77 23.67 0.015 0.66 1.61 Kansas
2006- 71.34 88.11 16.77 3.29 26.48 0.016 0.51 1.24 Kansas 136 and 94.21 95.73 1.52 1.35 9.5 0.024 0.12 0.31 Kansas and 98.78 100.30 1.52 1.14 42.0 0.005 0.09 0.12 Kansas and 112.50 127.74 15.24 1.32 6.43 0.006 0.15 0.25 Kansas
2006- 27.13 30.18 3.05 2.15 45.0 0.005 0.07 0.19 Kansas 137 (less than) and 74.70 77.44 2.74 1.13 8.5 0.01 0.02 0.01 Kansas and 96.04 104.88 8.84 4.18 2.40 0.006 0.03 0.016 Kansas and 126.52 127.74 1.22 1.47 7.4 0.008 0.02 0.012 Kansas and 143.45 144.66 1.21 2.91 20.1 0.009 0.49 0.51 Kansas
2006- 30.95 33.99 3.04 1.75 6.8 0.009 0.04 0.075 Kansas 138 and 93.29 103.35 10.06 1.08 6.84 0.009 0.12 0.63 Kansas and 124.70 126.22 1.52 1.0 4.4 0.005 0.04 0.40 Kansas and 149.09 150.61 1.52 1.39 25.7 0.007 0.14 0.32 Kansas
2006- 47.87 50.91 3.04 2.1 7.3 0.01 0.42 0.70 Big 158 Missouri and 70.73 73.78 3.05 2.78 9.2 0.003 0.07 0.22 Big Missouri incl- uding 157.62 159.15 1.53 44.1 88.8 0.086 0.57 1.79 Big Missouri and 125.61 128.66 3.05 2.04 15.4 0.008 0.045 0.05 Big Missouri and 180.45 191.16 10.71 3.54 9.34 0.005 0.15 0.31 Big Missouri 2006- 72.26 75.30 3.04 6.1 6.3 0.003 0.03 0.10 Big 159 Missouri and 111.89 117.99 6.1 1.84 1.75 0.002 0.012 0.03 Big Missouri and 122.56 124.09 1.53 1.63 7.4 0.011 0.06 0.17 Big Missouri and 148.48 150.00 1.52 3.61 3.5 0.005 0.03 0.06 Big Missouri
2006- 87.04 90.55 3.51 2.09 22.38 0.016 0.098 0.27 Big 160 Missouri and 99.70 101.22 1.52 11.96 19.6 0.009 0.18 0.19 Big Missouri and 108.84 110.37 1.53 1.82 14.9 0.004 0.10 0.35 Big Missouri and 114.94 133.23 18.29 1.19 13.36 0.006 0.15 0.27 Big Missouri
2006- 73.78 75.30 1.52 9.4 6.5 0.003 0.04 0.11 Big 161 Missouri and 130.18 133.23 3.05 1.21 2.8 0.003 0.07 0.38 Big Missouri and 143.90 146.95 3.05 1.83 8.8 0.004 0.11 0.36 Big Missouri and 160.37 163.72 3.35 3.81 17.51 0.03 0.43 0.79 Big Missouri
2006- 72.26 75.30 3.04 2.91 12.8 0.006 0.10 0.42 Big 162 Missouri and 92.07 93.60 1.53 1.64 25.8 0.026 0.34 0.64 Big Missouri
2006- 101.22 102.74 1.52 1.25 5.6 0.009 0.02 0.03 Big 163 Missouri and 137.80 145.43 7.63 2.01 4.84 0.01 0.13 0.37 Big Missouri >>
Surface and structural mapping has also been carried out on the property in the immediate area of the 2006 drilling. Surveying of the drill holes and a contour map are being completed in order to provide control for an updated resource calculation. Prior to this year's drilling program, MineFill Services of Seattle, WA completed a resource calculation on Silver Coin in compliance with CIMM (2000) Standards at zero cut-off which indicated a total inferred resource of an estimated 500,000 ounces of gold and 2.11 million ounces of silver. The 2006 drill program is aimed at possibly doubling this resource. MineFill is expected to begin a revised resource calculation in late December with results available in the first quarter of 2007. The Silver Coin project and associated minerals claims is a 51-49% joint venture between Pinnacle Mines and Mountain Boy Minerals. The Kansas claim is the subject of an option/joint venture with Tenajon Resources Corp., pursuant to which the Pinnacle/Mountain Boy joint venture is earning a 60% interest through the expenditure of $1,000,000 on exploration over four years. The joint venture can earn a 70% interest in the Kansas claim by exercising an option to deliver a feasibility study within four years of earning the initial 60%. E. Kruchkowski, P. Geo. and Alex Walus, P. Geo., are qualified persons under National Instrument 43-101 and are in charge of the exploration programs on behalf of the companies. Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.
Mountain Boy Minerals Ltd is a Canadian based mineral exploration company whose activities are in the Stewart and McKenzie area of BC. It is actively exploring for gold-silver-base metals on the Silver Coin project, silver-base metals on their American Creek properties, copper-gold in the Stewart area, porphyry molybdenum in the Stewart and McKenzie areas and copper-nickel-platinum group metals in the McKenzie area.
ON BEHALF OF THE BOARD
"Ed Kruchkowski"
Ed Kruchkowski, Director
%SEDAR: 00013756E