Pinnacle Minerals eyes restart of Lightning Peak gold-silver mine

• Pinnacle Minerals fast-tracks restart study for Lightning Peak gold-silver mine in Idaho
• Site produced 100,000oz of gold between 1986-1992 but is believed to still host significant deposits
• Mapping and sampling underway to complement review of historical rock chip and channel samples

Special Report: Pinnacle Minerals has launched exploration as part of a fast-tracked mine restart study for the historical Lightning Peak open pit within its Thunder Mountain gold-silver project in Idaho.

This will continue the use of on-ground mapping and sampling across the Thunder Mountain tenements, which has already identified continuation of mineralisation.

Additionally, a review of historical rock chip and channel samples is underway to validate data from the United States Geological Survey and Idaho Geological Survey to build a modern 3D model of the Lightning Peak pit.

Pinnacle Minerals (ASX:PIM) is processing airborne magnetic and satellite data to pinpoint structural controls and define new high-priority drill targets.

It has also started engagement with US consultants and local authorities to establish a pathway for drill permitting and mine redevelopment.

“Our work at Thunder Mountain represents a genuine opportunity to bring historic US gold and silver mines back to life using modern exploration and technology,” executive chairman William Witham said.

“So far, this is an excellent result from our restart study at the project, and it marks an important milestone as Pinnacle transitions into an active explorer across its growing US critical minerals portfolio.

“The verification of historical workings and confirmation of mineralisation within the project area reinforce the quality of the asset and highlight its strong potential.”

Thunder Mountain project

Thunder Mountain covers 3.68km2 and encompasses a historically productive gold and silver district with extensive historical workings.

Gold was first discovered at Thunder Mountain in 1896, with the resulting gold rush leading to its hosting numerous mines and prospects just a year later.

The district recorded substantial gold and silver production during the early 1900s, followed by several modern exploration campaigns from the 1970s to 1990s.

This includes Coeur d’Alene Mines producing over 100,000oz of gold between 1986 and 1992 from the Sunnyside and Lightning Peak mines.

Lightning Peak was the focus of this operation in 1990, producing an estimated 25,000oz of gold and 30,000oz of silver.

While that operation ended at a time of far lower commodity prices, the mine is believed to still host significant mineralisation.

That presents enormous opportunities for Pinnacle, with gold and silver prices near record highs at ~US$4000/oz and ~US$48/oz respectively.

Thunder Mountain is just 8km from $4bn capped Perpetua Resources’ 4.8Moz Stibnite gold and antimony project, which has major US Government backing to be brought back into production.

This article was developed in collaboration with Pinnacle Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.