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Projects Overview
Ajax Moly Project
Moly Brook Project
Burn Project
Kansas Claim Project
Summit Lake Project
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The Kansas Property is a crown grant claim, 19.5 ha in size, located 25km north of Stewart, BC.
Highlights
- Joint venture between Tenajon (40%), Pinnacle Mines (30.6%) and Mountain Boy Minerals(29.4%).
- Measured and Indicated resource on the Kansas claim of 355,924 ounces of gold (NI 43-101 compliant)
- Inferred resource on the Kansas claim of 707,605 ounces of gold (NI 43-101 compliant)
- Preliminary Economic Assessment completed by Minefill Services Inc. for Pinnacle Mines Ltd. concluded that the geometry of the Silver Coin deposit (the Kansas Claim is within Silver Coin) lends itself to open pit mining with a potentially low strip ratio
- 2006 program successfully tested Main Breccia at depth, along its eastern extension, and along strike
- Drilling on the property has intersected 44.4 metres grading 5.95 g/t gold and 9.15 metres grading 47.37 g/t gold
The Kansas Claim is a joint venture agreement between Tenajon (40%) Pinnacle Mines Ltd. (30.6%) and Mountain Boy Minerals Ltd. (29.4%). Kansas is situated within the Silver Coin property which is being advanced by JV partners Pinnacle Mines and Mountain Boy Minerals. The project is located in the prolific Stewart mining camps in northwestern British Columbia. It is a crown grant claim, 19.5 ha in size, located 25km north of Stewart, BC. Its potential is highlighted by its close proximity to a number of former successful mining operations such as the Silbak-Premier mine to the south and the Big Missouri mine to the north.
Much of the work conducted by Pinnacle Mines Ltd. and Mountain Boy Minerals Ltd. on the Silver Coin property has been focused on the Kansas Claim. From 2004 - 2006, approximately 19,538 metres of diamond drilling in 100 drill holes have been on or intersected the Kansas Claim. Based on drilling to date, the Silver Coin and Kansas Claim projects boast a significant gold resource.
2007 Mineral Resource Estimates (NI 43-101 compliant):
(Above a Cutoff Grade of 0.75 g/t Au-eq.)
| Class | Tonnes | Au (g/t) | Ag (g/t) | Contained Gold (oz) |
|---|---|---|---|---|
| M&I | 9,707,497 | 1.355 | 10.968 | 423,002 |
| Inferred | 15,947,629 | 1.849 | 5.377 | 947,988 |
Approximately 77% of the Silver Coin resource is within the Kansas Claim, of which Tenajon currently holds a 40% property interest.
(Above a Cutoff Grade of 0.75 g/t Au equivalent)
| Class | Tonnes | Au (g/t) | Ag (g/t) | Contained Gold (oz) | Contained Silver (oz) |
|---|---|---|---|---|---|
| M&I | 7,225,000 | 1.532 | 9.998 | 355,924 | 2,322,000 |
| Inferred | 10,256,000 | 2.146 | 5.572 | 707,605 | 1,837,000 |
This updated resource includes an additional 182 surface diamond drill holes completed in 2005 and 2006 (on the Silver Coin and Kansas claim properties) under the supervision of Pinnacle geologists and 417 historical drill holes of which 288 were drilled from underground. The resource is based on drilling along 700 metres of strike length within a mineralized zone that has been identified over a distance of at least 2,500 metres that remains open to the south, east and north.
The inferred resource total is almost double that in the 2006 resource estimate, plus an additional 355,924 ounces of gold has been added to the measured and indicated categories.
The new resource was classified in accordance with CIMM (2000) standards. It was completed under the direction of Dr David Stone, P.Eng., P.E. of MineFill Services, Inc., an independent qualified person as defined by National Instrument 43-101.
Preliminary Economic Assessment and 2007 Exploration Plans
In May 2007, a preliminary economic assessment was completed by Minefill Services Inc. for Pinnacle Mines Ltd. and was filed on SEDAR. It concluded that the geometry of the Silver Coin deposit (the Kansas Claim is within Silver Coin) lends itself to open pit mining with a potentially low strip ratio. Based on the metal prices and assumed capital and operating costs used in the study, project economics appear to be robust. Tenajon's Joint Venture partners commenced further project development on the Silver Coin property in September 2007.
2006 Program
During the 2006 exploration season, 13,725 metres of drilling was completed on 68 holes on the Kansas claim. The program successfully tested the Main Breccia Zone at depth, along its eastern extension and along strike. Results included 1.52 metres grading 30.64 gpt gold and 3.05m grading 30.65 gpt gold. Work has also indicated that the Main Breccia zone is open along strike to the south and north of 2006 drilling.
2005 Exploration
A 2005 Summer drilling program completed 28 holes along the Perseverance, Main Breccia, and Dan Zones and produced encouraging results. Highlights of that program include:
DDH 2005-44 - intersected 21.3 metres grading 11.3 grams per tonne of gold (Perseverance)
DDH 2005-45 - intersected 33.44 metres grading 3.03 grams per tonne of gold (Perseverance)
DDH 2005-46 - intersected 3.05 metres grading 56.6 grams per tonne of gold (Perseverance)
DDH 2005-69 -- intersected 15.24 metres grading 4.21 grams per tonne of gold (Main Breccia)
DDH 2005-72 -- intersected 16.77 metres grading 4.2 grams per tonne of gold (Main Breccia)
DDH 2005-72 -- intersected 22.53 metres grading 15.04 grams per tonne of gold (Dan)
In the 2005 drill program, several holes intersected high grade mineralization including 15.2 metres averaging 34 gpt gold and 206.7 gpt silver which is located 133 metres north of the Kansas claim. In addition, a new gold zone, Dan, was intercepted near surface and appears to run onto the Kansas Crown Grant. Tenajon has been notified by Pinnacle Mines Ltd. that the Dan mineralization is similar to that in the Main Breccia and Perseverance Zones.
Based on the 2005 exploration program, Pinnacle Mines and Mountain Boy Minerals estimate that the overall strike length of the mineralization over all zones combined, as indicated by trenching and drilling, is now defined over a distance of 2,000 metres, a vertical height of 700 metres and widths varying from 10 up to 100 metres. The Main Breccia and Perseverance Zones extend onto the Kansas claim. It appears the Dan Zone does as well.
Previous Exploration
The property was previously explored where a geological reserve of 1,774,000 tonnes averaging 2.20 g/pt gold (124,899 ounces gold) was outlined. This calculation was completed prior to the implementation of National Instrument 43-101 and is listed only for reference purposes.
Joint Venture Partners
Pinnacle Mines Ltd. and Mountain Boy Minerals Ltd. are drilling on the Kansas claim portion of the Silver Coin Project. Pursuant to an option and joint venture agreement, Pinnacle Mines Ltd. and partner Mountain Boy Minerals Ltd. have earned a 60% interest in Tenajon's Kansas Crown Grant.
