VANCOUVER, BC and NEW DELHI, INDIA, Feb. 17 /CNW/ - Pebble Creek Mining Ltd. ("Pebble Creek" or the "Company") is presently reviewing bids from qualified drilling contractors to conduct step-out drilling on its Askot massive sulphide property in Uttarakhand state, India.
As previously indicated in the Company's August 12, 2008 news release, the Askot deposit has an indicated mineral resource of 1.86 million tonnes containing an average of 2.62% copper, 5.80% zinc, 3.83% lead, 38 gpt silver and 0.48 gpt gold. The mineralized beds dip steeply and the known mineral zone is 600 metres along strike and extends 180 metres down from the surface. The average width of the mineralized beds is 5 metres. Due to the steepness of the terrain and the older drilling technology used by three previous government agencies, the property has not been tested below 180 metres.
The new drilling program is aimed at confirming the existence of mineralization at depth and along strike to the northwest. The northwestern target is an EM anomaly and coinciding soil geochemical anomaly that covers 400 meters of strike length. Drilling is expected to start in early March.
The Indian economy is little affected by the slowdown in the West and it continues to grow at 7.5% per year. Average mine production of copper in India is 40,000 tonnes per year and consumption is approximately one million tonnes. Gold production averages approximately 100,000 ounces per year and annual gold purchases exceed 20 million ounces.
Pebble Creek has 15 years experience in India and is one of the leading non-ferrous explorers and developers there.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Pebble Creek Mining Ltd.
For further information: For further information: Andrew Nevin, President & CEO, Telephone: +91 98 1091 0678; Mike Romanik, Vice President, Telephone: (204) 726-0151