Pinnacle Minerals has launched a rapid mine restart study at the historic Lightning Peak Open Pit within its Thunder Mountain Gold-Silver Project in Idaho, aiming to revive gold and silver production using modern exploration techniques.
- Fast-tracked restart study initiated at Lightning Peak Open Pit
- Field mapping and sampling confirm continuation of mineralisation
- Historical data being validated to build a modern 3D pit model
- Geophysical surveys underway to define new drill targets
- Permitting process advancing alongside major regional mine
Historic Gold-Silver District Reawakens
Pinnacle Minerals Ltd (ASX – PIM) has taken a significant step forward in its US exploration ambitions by commencing a fast-tracked mine restart study at the Lightning Peak Open Pit, part of its Thunder Mountain Gold-Silver Project in Idaho. This historic mining district, first discovered in the late 19th century, produced substantial quantities of gold and silver during the early 1900s and saw modern mining activity as recently as the late 20th century.
The Lightning Peak Open Pit, previously operated by Coeur d’Alene Mines, yielded tens of thousands of ounces of gold and silver before operations ceased in the early 1990s. Pinnacle’s current program aims to assess the potential for a modern restart by integrating historical data with new fieldwork and advanced geophysical techniques.
Modern Exploration Meets Historical Legacy
The company’s exploration team has been actively conducting on-ground mapping and sampling across the Thunder Mountain tenements, confirming the continuation of mineralisation beyond previously known extents. Concurrently, Pinnacle is reviewing historical rock chip and channel samples, cross-referencing them with data from the US Geological Survey and Idaho Geological Survey to validate and update the geological model.
Advanced airborne magnetic and satellite data are being processed to identify structural controls that influence mineralisation, helping to pinpoint high-priority drill targets. These efforts are complemented by engagement with US consultants and local authorities to streamline permitting for drilling and potential mine redevelopment.
Strategic Location Near a Major Regional Project
Thunder Mountain lies just 8 kilometres from Perpetua Resources Inc.’s Stibnite Mine, a project with a market valuation around AUD 4 billion. The proximity and geological similarities between the two projects provide a compelling backdrop for Pinnacle’s ambitions. Both share comparable structural settings, host rocks, and mineralisation styles, suggesting that Thunder Mountain could benefit from the regional infrastructure and exploration momentum.
Executive Chairman William Witham highlighted the opportunity to revive historic US gold and silver mines using modern technology, emphasizing the quality of the asset and the potential to create shareholder value through defining new drill targets and advancing exploration.
Next Steps and Market Implications
Assay results from recent rock chip and channel sampling are expected in the coming weeks, which will feed into updated pit modelling and restart studies. Meanwhile, geophysical and remote sensing analyses continue to refine exploration targets, setting the stage for drill permitting and eventual drilling campaigns.
Pinnacle’s move into active exploration at Thunder Mountain marks a pivotal transition from project acquisition to development, positioning the company within a highly prospective US critical minerals region. The success of this restart study could unlock significant value and potentially catalyse further investment in the region’s gold and silver resources.
Bottom Line?
Pinnacle’s progress at Lightning Peak could signal a new chapter for historic US gold-silver mines, but upcoming assay results and permitting hurdles will be critical to watch.
Questions in the middle?
- What will the upcoming assay results reveal about mineral grades and continuity?
- How quickly can Pinnacle secure drill permits and commence drilling?
- Can Pinnacle leverage proximity to Perpetua’s Stibnite Mine to accelerate development?