PEB drill results, +8% and +6% Cu. holes there!
Pebble Creek's interim drill results at Askot, India
Wed Sep 26, 6:24 PM
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VANCOUVER, Sept. 26 /CNW/ - Pebble Creek Mining Ltd. (the "Company") announces the following:
Askot.
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The Company has drilled 10 core holes for a total of 1,872 metres in a 10,000-metre program. Seven holes twin old holes drilled 20 to 40 years ago; three fill in gaps between old holes.
A Technical Report dated November 7, 2006 by Paul M. Boswell, FIMMM, CEng, a qualified person under National Instrument 43-101, described various historic resource estimates based on previous drilling and tunnelling by government agencies (see www.sedar.com). The estimates do not meet NI 43-101 standards.
The twinned and fill-in holes in this part of the program were designed to "sample" the prior work with an eye toward estimating a NI 43-101 compliant mineral resource. The Company believes the program is on its way to confirming prior results.
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Co-ord True Cop- Copper Zinc
Drill N-S Elev. Width Gold Silver per Lead Zinc Eq. Eq.
Hole (m) (m) (m) gpt gpt % % % % %
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Old B5 020N 899 2.57 n.a. n.a. 4.01 14.73 17.17 11.75 41.03
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B5Twin 020N 899 2.49 0.33 53 1.79 2.75 4.13 4.32 15.08
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one critical assay is still pending on a high-grade zone within the above
intersection
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includ-
ing 020N 899 0.41 1.26 163 6.98 10.54 23.33 18.29 63.85
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Old A23 020N 977 15.67 n.a. n.a. 2.80 2.51 5.88 4.79 17.34
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A23Twin 020N 977 9.73 0.26 43 0.88 2.85 3.99 3.22 11.23
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includ-
ing 3.80 0.34 75 1.07 5.29 6.25 4.96 17.33
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includ-
ing 1.18 0.95 173 2.71 12.99 15.47 12.22 42.66
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Drift
HW 020N 985 0.60 0.28 149 1.04 9.88 15.25 9.29 32.44
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Drift
FW 020N 985 2.53 1.36 86 2.71 6.80 8.97 8.28 28.90
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Drift
avg 020N 985 8.13 0.45 38 0.92 2.84 3.91 3.26 11.39
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Old B8 95S 962 5.90 n.a. n.a. 2.28 3.73 5.61 4.60 16.07
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B8X 65S 1006 1.18 0.16 144 8.51 9.22 17.13 17.06 59.54
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Old B11 95S 898 1.18 n.a. n.a. 1.87 3.76 4.21 3.80 13.26
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B11X 65S 948 0.53 0.39 102 6.73 10.28 20.25 16.18 56.47
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The interval above is part of a 1.41m interval still awaiting a key assay
on a massive sulphide bed
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Old B12 038S 1005 10.00 n.a. n.a. 1.32 2.01 4.00 2.85 9.95
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B12Twin 040S 1005 10.66 3 massive sulphide beds within this interval.
Assays pending
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The following equivalents are used for metal in place: 1% copper is worth 5.21% lead, 3.49% zinc, 80.16 grams per tonne ("gpt") silver, or 2.19 gpt gold; or, in zinc equivalents, 1% zinc is worth 0.29% copper, 1.49% lead, 22.96 gpt silver or 0.63 gpt gold. The bases for these relationships are assumed future metals prices, mill recoveries, smelter payment schedules and concentrate transportation costs.
Assays are still in progress. The backlog at many Canadian labs is about seven weeks.
The mineralised beds make up a panel that generally dips 60 to 80 degrees. Drill holes intersect the panel at acute angles. The drill hole depth of the intersection means little, therefore in the foregoing table the location of the center of the intersection is given as the north or south coordinate and the elevation above sea level. "Width" means true thickness normal to the bed. Previous workers did not assay for gold and silver ("n.a.") and for the old holes those metals are not included in the equivalents calculations. Holes A23 and A23Twin cut the beds only 8 metres below the drift (tunnel), so nearby channel samples are appropriately shown. "HW" means hanging wall (upper) bed and "FW" means footwall (lower) bed.
The known part of the Askot deposit consists of two and sometimes three closely spaced massive sulphide beds separated by schistose tuff and chert beds containing some disseminated sulphides. The massive sulphide beds vary in thickness from 10 centimetres to 4 metres. The intervening beds vary from nil to 6 metres. The massive mineralisation is dominated by fine-grained black sphalerite (zinc sulphide) in a chert matrix, with or without variable amounts of galena (lead sulphide) and chalcopyrite (copper sulphide). Core recovery of massive sulphides is close to 100 per cent and the core sometimes comes out of the core barrel in single pieces as long as a baseball bat. The intervening tuff is more friable.
Low labour costs in India make it a suitable place to contemplate narrow-vein underground mining, however the Company recognizes that some thin zones may be left unmined or mined and diluted with wall rock.
Assays were performed by ALS Chemex, North Vancouver; or by Acme Analyticals, Vancouver; or by Shiva Analyticals (India) Ltd., Bangalore; or on duplicate samples by both Acme and Shiva. Shiva is an accredited lab and the Company has inspected its facilities. Shiva analyses gold by fire assay with AAS finish and silver and base metals by ICP-Optical Emission Spectroscopy. Shiva regularly runs standards, blanks and repeats, and the Company also inserts its own standards, blanks and duplicates into each sample batch. Work at Askot is under direct supervision of Andrew E. Nevin, P.Eng., a qualified person under NI 43-101.
Drilling at Askot is continuing, now stepping out to unexplored ground northwest of coordinate 200N, the limit of drilling to date. The Company also intends to drill deeper, below the previous limit of 800 metres elevation, and to drill test several electromagnetic anomalies scattered along 3,000 metres of strike length.
Gadarwara.
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The first drill hole, in the center of the magnetic anomaly, was lost in loose sandy alluvium at 288 metres depth. The Company will redrill it after a new pad is built nearby. The drill is now on a new hole at the south edge of the anomaly. Casing is being run through the alluvium to bedrock at 307 metres in preparation for core drilling.
Change in Directors.
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David C.M. Bell resigned as Director effective September 19, 2007. Mr. Bell was a director and president of Broadcast Capital Corp., the capital pool company that was a predecessor of Pebble Creek Mining Ltd. The Company appreciates his service for the past nine months.
Annual General Meeting.
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The Company's AGM will be held on September 27 at 1:00pm local time at Suite 950, 790 Granville Street, Vancouver.
About Pebble Creek.
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The Company is well funded and committed to exploration and mine development in India. In addition to holding Askot and Gadarwara, it holds title to one other prospect and has 16 applications pending on a total of more than 14,000 square kilometres.
On Behalf of the Board
Gyan C. Singhai, P.Eng.
Executive Chairman |
