Pinnacle Silver and Gold (TSX-V:PINN) has reopened previously inaccessible mine workings at the El Potrero gold-silver property in Mexico, following rehabilitation and drill station preparations.
The historical mine workings, collectively named Dos de Mayo Norte, have also been cleaned for systematic channel sampling, which resulted in the detection of gold-silver mineralisation.
Dos de Mayo Norte extends 93m along the northwest strike of the mine working vein, 35m higher in elevation above the main level, and overlaps the latter by 25m. This area of overlap includes the raise from the Dos de Mayo main level where the ‘best’ mineralisation was observed in previous channel sampling.
Channel sampling returned assays up to 10.76 grams per tonne gold and 215g/t silver over 1.3m, including 26.1g/t gold and 511g/t silver over 0.50m, and 5.41g/t gold and 230g/t silver over 0.80m.
As such, Pinnacle says the new sampling provides information on the vertical continuity of mineralisation between the Dos de Mayo main level at an elevation of 1,485m above sea level.
CEO Robert Archer says the new results from the historical mine workings have provided further information as to the nature and continuity of the gold-silver mineralisation in this part of the Dos de Mayo vein.
“As is typical of these low sulphidation epithermal systems, higher grade mineralisation occurs in sub-vertical ‘shoots’ separated by lower grade vein material,” Archer says.
“As systematic underground channel sampling is limited to the extent of the workings, combining this information with what we are starting to see in drill core from the underground drilling program is providing valuable insights to the El Potrero mineralising system.”
Dos de Mayo
Only seven holes have been drilled to date at the Dos de Mayo vein. However, 45 holes have been drilled in the underground program, mostly at the adjacent Pinos Cuayes Mine, and core logging is revealing a multi-phase system of breccia veins and faulting.
With turnaround times at assay labs slowing down due to increased exploration activity in Mexico, insufficient results have been received to date to draw any firm conclusions. Pinnacle’s geologists are interpreting results as they come in to build a better understanding of the controls on gold-silver mineralisation.
As the drilling program progresses, the close-spaced nature of the holes will provide a better sense of the overall size, shape, and grade of the mineralised zones.
Surface drilling is due to begin between September and October 2026 and will fill in gaps between the historical mines in addition to testing up and down dip and along strike to the northwest on the Dos de Mayo vein.
Other mineralised veins such as El Capulin and La Estrella will be drilled for the first time ever.
The company says the combined results will be used to generate an internal resource estimate that will, in turn, be used to develop a preliminary mine plan.
El Potrero is located in the Sierra Madre Occidental of western Mexico and lies within 35km of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine, the 1,000tpd Tahuehueto Mine, and the 250tpd Topia Mine.
Pinnacle Silver and Gold will earn an initial 50% interest immediately upon beginning production. The goal will then be to generate sufficient cashflow, which will be used to further develop the project and increase the company’s ownership to 100%, subject to a 2% net smelter return royalty.
Pinnacle Silver and Gold is focused on the development of precious metals projects in the Americas.
Write to Aaliyah Rogan at Mining.com.au
Images: Pinnacle Silver and Gold
