For those new to this stock, IRL hold a position in PEB:TSX and preferential right to contract mine.
PEBBLE CREEK MINING LTD. ASKOT DRILLING UPDATE TSX-V: PEB FOR IMMEDIATE RELEASE Pebble Creek Mining Ltd reports that interim drilling results and other geologic studies on the Company's Askot project indicate the following interim conclusions: Step-out drilling has extended the known mineral zone down dip, 100 metres deeper and northwest of the deepest previous drillhole intersection at Askot. Drilling confirms that mineralization occurs within a specific volcanic unit and within northwest plunging shoots. Most of the known mineralization at Askot is remobilized from certain volcanic source beds that have only been recently discovered during detailed geological study; the main primary mineralization will be targeted within these source beds by deep-seeking geophysical surveys in the near future. Now that directional drilling has been successfully tried at Askot, step-out drilling will continue to the northwest and down dip using directional drilling tools as required. 258 stream sediment samples covering all drainages in a 50 square kilometre area of volcanic rocks surrounding the Askot prospect have identified a number of copper-zinc target areas for priority follow up, particularly south of the Askot deposit
Core hole 019A intersected massive sulphides from 367.7 metres to 370.4 metres, a length of 2.7 metres and a true thickness of about 2.4 metres. The principal metallic minerals are chalcopyrite, sphalerite and galena, sulphides of copper, zinc and lead respectively. Scans with a portable Niton Xray Fluorescence Analyzer indicate values consistent with the Technical Report by SRK Consulting dated September 26, 2008, copies of which are available on SEDAR at www.sedar.com or the Company's website atwww.pebcreek.com/pr_20080930.pdf. The drill core is being sawed in two, with half to be sent to a qualified lab. Assay results will be reported as soon as they are available to the Company. Hole 019A stepped out into unexplored territory along strike to the northwest and down dip, intersecting the projected mineralized zone at an elevation of 705 metres above sea level. The intersection of the mineralized zone in hole 019A is 170 metres below a previous intersection at 875 metres elevation in hole 200-1, which was drilled in 2006. It is also 100 metres both along strike to the Northwest and down dip from the deepest previous intersection at Askot, in hole 115-1, also drilled by the Company in 2006. The results provide impetus for continued exploration deep to the northwest, beyond previous holes. The success of this hole also establishes the feasibility of using directional drilling equipment for deep drilling from a valley southwest of the mineralized zone, on the footwall side. The zone dips steeply northeast near the surface (elevations of 1,035 metres or higher), but steepens at depth to nearly vertical in hole 019A.
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