Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:PSGCF, FRA:P9J) said it has discovered previously unknown silver-lead-zinc mineralization at its El Potrero gold-silver project in Durango, Mexico, following early-stage fieldwork guided by a recent LiDAR survey.
The company said the discovery was made on the southern Maria Fernanda 2 claim block during initial mapping and prospecting work aimed at following up on historical shafts, adits and pits identified through airborne LiDAR data.
Channel sampling of silicified breccia veins hosted in porphyritic andesite returned assays of up to 266 grams per tonne silver, 4.39% lead and 2.89% zinc over lengths of up to 0.9 metres, Pinnacle said.
The LiDAR survey, completed over the 1,074-hectare property and announced in January, identified multiple previously unknown structures along with a total of six shafts, 64 adits and 51 prospecting pits across the project’s two claim blocks.
CEO Robert Archer said the find highlights the effectiveness of combining modern surveying techniques with on-the-ground exploration.
“We were initially impressed with the prospectivity of the project implied by the LiDAR, and now the identification of mineralized vein material in the artisanal workings is a testament to the effectiveness of the survey,” Archer told shareholders in a statement.
Archer added that the discovery represents a new style of mineralization for the project, which had previously been characterized by gold and silver mineralization without base metals on its northern block.
The newly identified veins trend northeast and appear to extend for at least 650 metres, the company said, contrasting with the northwest-trending gold-silver veins identified elsewhere on the property.
Pinnacle noted the mineralization shares similarities with nearby deposits, including the Topia mining district located about 4 km away, where polymetallic veins follow a similar orientation.
The host rocks comprise chloritized porphyritic andesite with pyrite, overlain by rhyolitic tuff showing strong argillic alteration, suggesting potential for mineralized extensions beneath surface cover, the company said.
Additional samples have been submitted for analysis, while follow-up mapping and prospecting is ongoing on the southern block and expanding to previously unexplored areas of the northern El Potrero claims.