Summit Lake, British Columbia Click here to view the technical report on the Summit Lake gold property.

In April 2008, Pinnacle acquired 100% of the Summit Lake Gold Property from Tenajon Resources Corp. Summit Lake is a past producer located 50km north of Stewart, BC, just 15km north of Pinnacle’s Silver Coin Gold Property. Summit Lake hosts the formerly producing Scottie Gold Mine and several other prospective targets including the Bend Vein and Road Showing.


Summit Lake Highlights

• High-Grade, advanced stage exploration property.
• Former producing Summit Gold Mine (201,462 tons averaging 0.474 oz/ton gold) with an historical geological resource of 132,306 tons averaging 0.56 oz/ton gold (not NI43-101 compliant).
• In 2006, Tenajon explored to test the underground and surface zones with 3,650m of underground drilling and 376m of surface drilling completed with two new zones being discovered (the R Zone and the Grizzly Zone).
• Results included 4.6 ft grading 0.332 oz/ton gold (11.34gpt) in the newly discovered R Zone and 3.35 ft grading 0.318 oz/ton gold (10.87gpt) in the newly discovered Grizzly Zone.
• 2005 underground and surface drill programs intersected high-grade gold. Results included 26.2 ft. of 0.721 oz/ton gold, 12.1 ft. of 0.824 oz/ton gold and 15.3 ft. of 0.81 oz/ton gold. Underground zones were open at depth and along strike.
• The Bend, Blueberry, and Grizzly Zones (surface) are located within 2.5km from the underground workings.
• Many unexplored high grade targets remain to be drilled.

Project Summary

Mineralization, consisting of gold bearing quartz ± carbonate sulphide veins, is related to the emplacement of an intrusion.  Within the veins high-grade gold values occur in steeply plunging shoots.  The setting and style of the mineralization is similar to that found in intrusion related mesothermal veins, a category that includes the formerly producing Snip Mine (1 million ounces gold) and LeRoi/Centre Mine (2 million ounces gold).

Thirteen gold bearing zones have been located on the property.  Four of the zones, L, M, N and O, occur in a 650 foot wide northwest trend and in 2006 two new zones were discovered, the R zone (underground) and the Grizzly zone (surface).  Development of the M, N and O Zones in the early 1980's resulted in the production of 95,426 ounces of gold at an average grade of 0.474 ounces per ton.  At shutdown, mine personnel calculated the geological resource within the workings to be 132,306 tons averaging 0.560 ounces per ton gold.  This calculation was completed prior to the implementation of National Instrument 43-101 and is only listed to indicate the potential that could exist within the mine workings.

2006 Exploration Program

L, M, N Zones (underground)

In 2006, Tenajon completed 11,975 feet of underground drilling in a total of 26 drill holes. The underground drill program was completed in October 2006 and tested various zones at Summit Lake.  Six holes tested the L Zone, 15 holes tested the M Zone and areas to its west while one hole tested the N Zone.  Two holes tested a blind target area east of the main workings considered favorable for hosting new zones.

Highlights of the underground drill program include the discovery of a new underground zone, the R Zone.  The R Zone is located 450 feet to the south of the M Zone and includes the easternmost holes drilled at the 3,000 foot level.  Results included 7 feet averaging 0.270 oz/ton gold.

The 2006 underground program demonstrated that high-grade gold mineralization similar to that previously mined at Summit Lake extend from surface at the 4,000 foot level down to the 2,750 foot level.  Above the 3,000 foot level the zone extends westward up to 400 feet from the existing workings.  Below the 3,000 foot level the zone is approximately 500 feet long. Width and grade are variable both along strike and dip with high grade values occurring adjacent to low grade sections.

Drill Results from the 2006 Summit Lake Underground Drill Program Include:

Blueberry, Bend, and Grizzly Zones (surface)

In 2006, 5 holes totaling 1,235 feet were drilled on the Blueberry Grid, located 2km north of the mine. The Blueberry Grid hosts two zones of mineralization, the previously known Blueberry Zone and the newly discovered Grizzly Zone.  The Grizzly Zone was discovered through a prospecting and geophysical surveying program over the Blueberry Grid.  This new zone contained anomalous to high-grade gold values over a 1,148 foot strike length with the zone being open.  Outcrop samples returned highly encouraging results with grab samples assaying up to 3.8 oz/ton gold, while chip samples resulted in 0.39 oz/ton gold over 8.2 feet and 0.49 oz/ton gold over 3.9 feet.

Surface prospecting and sampling conducted during 2006 located several new gold bearing occurrences.  Approximately 1,968 feet to the northwest of the mine workings are a series of up to 1.6 foot wide sulphide bearing quartz veins.  Limited sampling returned positive results including a 1.6 foot chip sample assaying 0.527 oz/ton gold with 25.1 oz/ton silver and a grab sample assaying 0.133 oz/ton gold and 4.41 oz/ton silver.  Approximately 1,968 feet to the southeast of the mine workings, a quartz sulphide vein up to 9.8 feet wide has been traced for 98.4 feet.  Chip sample results include 4.9 and 9.8 foot wide samples respectively assaying 0.35 oz/ton and 0.23 oz/ton gold. Additional work is required to evaluate these vein systems.

2005 Exploration Results

L, M, N Zones (underground)

In 2005, a drill program consisting of 19 underground diamond drill holes totaling 6,651 feet in length tested the continuity along strike and down-dip of the L, M, and N Zones.  Drilling was undertaken from the existing mine workings.  The program successfully expanded all three zones. Of the three zones tested, the M Zone is considered to have the best potential for hosting additional significant reserves.  Several high grade intercepts were intersected with the zone remaining open to the west along strike.

Results from the 2005 underground drilling program include:

• 26.2 Feet of 0.72 oz/ton gold
• 12.1 Feet of 0.82 oz/ton gold
• 5.2 Feet of 1.0 oz/ton gold

Bend, Blueberry and Road Zones (surface)

The 2005 surface drilling program was also very successful in showing the potential to expand the overall resource in areas away from the underground workings (L, M and N Zones).  The program consisted of 16 drill holes totaling 2,095 feet in length and was conducted on three outcropping zones; Bend, Blueberry and Road.  These zones are located 2.5 km from the underground workings and contained significant gold values with multiple high grade gold intersections.

Results from the 2005 surface drilling program include:

• 15.3 Feet of 23.01 g/t gold
• 6.5 Feet of 21.50 g/t gold
• 4.6 Feet of 31.82 g/t gold

2004 Exploration Results

L, M, and N Zones

In 2004, 14 underground diamond drill holes tested the continuity of the L, M and N Zones. The program was highly successful with high grade intercepts being intersected in all three zones. Drilling to the west and below the main workings of the M Zone showed it to be open in both directions.
Results from the 2004 program included:

• 14.3 ft. of 1.137 oz/ton gold
• 13.8 ft. of 0.961 oz/ton gold
• 6.2 ft. of 0.880 oz/ton gold
• 6.7 ft. of 0.475 oz/ton gold

Other Zones

Outside of the main workings several other zones occur on the property including the Bend and Road showings. At the Bend limited drilling has outlined a 130 foot long x 6 foot wide block to a 100 foot depth averaging 0.906 oz/ton Au. Two holes completed below the block intersected similar mineralization with anomalous gold grades. A review of the drilling shows no holes have been completed below the block down the plunge of the mineralization. The Road Zone was discovered in 2004. Limited chip sampling returned encouraging results including 4.92 feet averaging 0.606 oz/ton Au across a sulphide bearing vein and a 1.5 foot section assaying 0.276 oz/ton across a secondary structure.

Property History