Pebble Creek's high-grade zinc and copper at Askot, India



    VANCOUVER, Feb. 21 /CNW/ - Pebble Creek Mining Ltd.'s main project is the
Askot property, located in Uttaranchal state, India, in the foothills of the
Himalaya Mountains. Askot is a steeply dipping, tabular deposit of zinc and
copper, with additional silver, gold and lead. Pebble Creek holds 100 per cent
interest in a Prospecting Licence on the property and has filed an application
for a 30-year Mining Lease.
    Askot was previously explored by the United Nations Development
Programme, Geological Survey of India and four other government agencies
intermittently in the period 1965-1988. That work included 9,000 metres of
drilling in 51 holes, 1,000 metres of exploratory underground workings in
three levels, and metallurgical bench tests. As presently known, the Askot
deposit has an average thickness of 4.5 metres and a known strike length of
600 metres. It dips 60 to 80 degrees northeast and is known to a depth of only
180 metres below the surface.
    The four elements of the current exploration program are described by
Paul Boswell, in an independent Technical Report dated November 7, 2006. Work
to date was performed under the supervision of Andrew E. Nevin, P.Eng., a
Qualified Person.

    
    -   Results of an underground channel sampling program were summarized in
        the Technical Report; detailed assays are reported herein;
    -   Assays are reported from the first 1,136 metres of drilling, in three
        holes, of a drilling program planned for several thousand metres;
    -   Seven conductive anomalies at distances of 500 to 2,000 metres from
        the known deposit were found by a magnetometer and horizontal loop
        electromagnetic survey;
    -   Extension of existing underground workings to establish subsurface
        drill stations has progressed to 16 metres; the first stage is
        scheduled for 150 metres.
    

    Underground Sampling. Pebble Creek conducted a channel sampling program
across the mineralized zone in an underground 985-level (elevation) drift that
exposes the deposit for 250 metres. Fifty-two samples were taken in seventeen
channels across the back (roof) of drifts (horizontal tunnels) where the
mineralized zone is exposed and not concealed behind timbers or concrete. ALS
Chemex, North Vancouver, B.C., performed the assays by atomic absorption.
Table 1 shows the location of the sample, the horizontal width of the
mineralized zone and the grades of the principal metals.

    
           Table 1. Assay results of underground channel sampling
    -------------------------------------------------------------------------
                                               Per cent       Grams per tonne
     Sample  Coordinate   Horizontal      -----------------------------------
     Number   North (m)  Thickness (m)    Zinc  Copper  Lead    Gold  Silver
    -------------------------------------------------------------------------
    West (footwall) massive sulfide bed
    -------------------------------------------------------------------------
      N-2       149N         2.85         6.79   2.68   4.39    0.54     75
    -------------------------------------------------------------------------
      N-1       145N         1.90         3.32   4.88   2.69    1.36     62
    -------------------------------------------------------------------------
      S-1       048N         2.65        11.45   2.42   8.50    2.30    187
    -------------------------------------------------------------------------
      S-2       031N         2.40         6.23   3.04   4.93    0.33     84
    -------------------------------------------------------------------------
      S-3       020N         1.85         9.03   5.32   6.33    0.45    172
    -------------------------------------------------------------------------
      S-4       005N         3.55         4.78   1.72   6.30    0.56     92
    -------------------------------------------------------------------------
      S-5       000N         2.75         7.23   3.52   5.98    0.74     98
    -------------------------------------------------------------------------
      S-6       012S         2.15         4.51   1.51   3.27    0.66     67
    -------------------------------------------------------------------------
    Weighted average         2.51         6.79   2.86   5.45    0.86    104
    -------------------------------------------------------------------------
    East (hanging wall) massive sulfide bed
    -------------------------------------------------------------------------
      N-3       158N         1.70         6.52   3.81   4.99    0.46     72
    -------------------------------------------------------------------------
      N-4       141N         2.95         3.26   6.23   1.76    1.05     66
    -------------------------------------------------------------------------
      S-10      027N         0.60        15.25   1.04   9.88    0.28    149
    -------------------------------------------------------------------------
      S-11      016N         0.90        10.87   0.11   8.32    0.05     81
    -------------------------------------------------------------------------
      S-12      005N         0.35        22.60   0.63  14.55    0.28    167
    -------------------------------------------------------------------------
      S-7       021S         0.40         2.51   1.23   1.63    0.29     56
    -------------------------------------------------------------------------
      S-8       031S         2.00        12.54   1.13   6.37    0.13    125
    -------------------------------------------------------------------------
      S-9       044S         2.05        11.72   5.68   5.46    0.44    101
    -------------------------------------------------------------------------
    Weighted Average         1.37         8.92   3.67   5.18    0.50     93
    -------------------------------------------------------------------------
    Overall Wtd. Avg.        1.94         7.47   3.21   5.36    0.73    100
    -------------------------------------------------------------------------
    

    The envelope of strike length sampled is 202 metres. The longest
sub-samples in a channel were 1 meter. One channel and parts of others that
sampled barren wall rock were rejected. The "north" grid coordinate is
actually oriented 320 degrees or N40W, parallel to the strike.
    Two sub-parallel massive sulfide beds, "west" and "east," were each
sampled. They are separated by 1 to 8 metres of tuff and chert wall rock. The
averages are weighted according to the length of the channel, or its
equivalent, the horizontal width of the bed. A zinc assay on a sub-sample of
S-8 was more than 30 per cent, and it was cut to 30 per cent for the average.
    Mineral assemblages suggest the source vents are to the northwest (grid
north), a sector that has not yet been tested by drilling. The channel
sampling program fulfilled its objective of close, first-hand understanding of
the mineralization. Geologic controls on sulfide mineralization are (1)
stratigraphic distribution, (2) tight folds plunging 15 degrees northwest (and
overturned to the southwest), (3) a second generation of kink folds with
northeast trending axes, and (4) a series of left-lateral normal faults that
cuts the sulfide beds at an acute angle and locally displaces them as much as
tens of metres. Metamorphism is in the garnet facies. Hydrothermal accessory
and alteration minerals include quartz, talc and actinolite. Sulfide minerals
are black sphalerite, galena, chalcopyrite and pyrrhotite.

    
    Diamond Drilling Program. The program has three objectives:

    -   to twin selected previously drilled holes and confirm prior results;
    -   to step out and explore untested parts of the deposit at depth and
        along strike in both directions;
    -   to test seven conductive anomalies found by a recently completed
        geophysical survey at distances of 500 to 2,000 metres along strike
        from the known Askot deposit.
    

    Drilling is intended to form the basis for estimating a mineral resource
compliant with NI 43-101.
    Pebble Creek engaged a contractor in July, 2006 and drilled 1,137 metres
in three holes. Progress was slow and the Company released the contractor in
December. An Australian contractor visited the site in February and is
preparing a bid to resume the program, starting as soon as possible.
    All of the three holes were started during the summer monsoon rains. Road
building through terraced rice paddies was impossible. Because of this the
holes had to be sited along a roadway, not in the ideal places for the
objectives.
    DDH 020 was intended to test prior DDH B-5, drilled more than three
decades ago. Site limitations caused the Company depart from exactly twinning
B-5, but to drill at an inclination of -70 degrees to cut the mineralization
65 metres lower in the mineralized panel. Total depth was 404 metres.
    DDH 115, using a second machine, was drilled at -75 degrees to test B-22,
drilled in 1978. A similar limitation prevailed in the setup and DDH 115
intersected a thin bed of sulfides at 349 metres, or 50 metres below B-22. The
hole was lost at 417 metres total depth before it could cross a fault
offsetting the B-22 intersection, or be surveyed for deviation.
    DDH 200, drilled at -70 degrees with a third machine, stepped out 90
metres into the untested northwest extension of mineralization. Again, after
intersecting a thin sulfide bed, the drill pipe twisted off at 316 metres,
short of the target, and the hole was abandoned without a downhole survey.
    The drill holes did not come close enough to the prior intersections to
confirm or reject those assay results; nor did they contribute to a mineral
resource or condemn significant sectors. The drill holes did confirm a
geologic feature observed underground: that the sulfide system is cut by
faults at acute angles that displace the beds some tens of metres in places.
    The holes intersected previously unknown mineralized beds - hydrothermal
chert, tuff and sulfide beds - six in the hanging wall (overlying rocks) and
one in the footwall (underlying rocks) in addition to the two beds exposed in
the underground workings. The newly found beds contain disseminated zinc,
copper and iron sulfide minerals and are evidence that the sea floor
hydrothermal vents were active for a long period of time and over a large
area. In conjunction with the geophysical anomalies, the newly found layers
open up possible drill targets in all levels of the stratigraphic sequence.
    The assays of the prior holes and Pebble Creek's results are shown in
Table 2.

    
           Table 2. Assay results of prior and current drill holes
    -------------------------------------------------------------------------
                                                                     Grams
                     Coord-  Elev-    True       Per cent          per tonne
                     inate   ation   Width  ---------------------------------
        Depth      North (m)  (m)     (m)   Zinc  Copper  Lead   Gold  Silver
    -------------------------------------------------------------------------
    DDH B-5, drilled by Govt. ca. 1970, core not available, assay method not
     known, not 43-101 compliant
    -------------------------------------------------------------------------
    213.30-216.70    020N     897     2.72  15.96   3.31  13.70  Not assayed
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    DDH 020, drilled by Company 2006 under 43-101, avg. of assays by
     ALS Chemex & Shiva Anal.
    -------------------------------------------------------------------------
    327.41-328.15    004N     836     0.37  21.95   1.34   9.21  0.37   119
    -------------------------------------------------------------------------
    328.41-331.70    004N       -     1.81   0.08   0.05   0.02     below
                                                                 detection(*)
    -------------------------------------------------------------------------
    331.70-332.70    004N     834     0.74   5.01   1.45   4.12  0.23    79
    -------------------------------------------------------------------------
    Wtd. avg. all three intervals
     ((*)bd = 0)           2.93   4.10   0.57   2.23  0.11    36
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    DDH B-22 drilled by Govt. ca. 1979, core not available, assay method
     not known, not 43-101 compliant
    -------------------------------------------------------------------------
    138.70-154.50    100N     855    11.53   4.90   0.80   3.83  Not assayed
    -------------------------------------------------------------------------
    169.50-174.20    100N     846     3.58  11.13   4.47   7.25  Not assayed
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    DDH 115, drilled by Company 2006, under 43-101 standards, assays by
     Shiva Analyticals
    -------------------------------------------------------------------------
    349.15-349.50    110N     804     0.11   4.45   2.60   2.75  0.12    65
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    DDH 200, drilled by Company 2006, under 43-101, standards, assays by
     Shiva Analyticals
    -------------------------------------------------------------------------
    267.25-269.00    196N     870     1.22   2.42   3.13   1.73  0.28    61
    -------------------------------------------------------------------------
    

    The Company split core from DDH 020 with a Longyear-type chisel splitter.
Subsequently it sawed the drill core in two by diamond saw. One half was
returned to the core box and one half shipped by commercial courier for assay.
NQ core was crushed and separated into two identical fractions by Jones riffle
and sent to two laboratories. DDHs 115 and 200 were drilled with smaller BQ in
the mineralized zone and the entire one-half split was sent to Shiva
Analyticals (India) Ltd. Both labs routinely ran standards and blanks with the
samples.
    Shiva Analyticals is an ISO/IEC 17025 accredited analytical lab in
Bangalore, India. Shiva used fire assay with AAS finish for gold, aqua regia
with ICP-OES finish for silver, and mixed acid digestion with ICP-OES finish
for zinc, copper and lead. When both ALS Chemex and Shiva analyzed splits of
the same samples, results were comparable. When metals concentrations were
above geochemical levels Shiva's zinc, copper, gold, silver and lead results
in the aggregate averaged about 6 percent lower than ALS Chemex's. This is
well within normal variance for a statistically small number and the
irregularity of geologic materials.
    Magnetic and Electromagnetic Results. The geophysical survey was far more
intense than any previous survey conducted on the Askot area. It consisted of
88 line-kilometres of ground magnetics on lines 50 metres apart and 27 line-km
of Max-Min HLEM (horizontal loop electromagnetics) on lines 100 metres apart.
    The magnetic survey outlined a tight fishhook-shaped fold, consistent
with the Company's geologic mapping of the rock formations. The HLEM survey
found seven previously unknown conductors along the northwest-southeast strike
of the known deposit: one 500 metres to the NW; one 600 metres to the SE; and
five anomalies located 1,400 to 2,000 metres SE in and around the
fishhook-shaped fold where the beds turn south and then west.
    Underground Crosscutting. In order to cut about 200 metres from each of
many future drill holes, the Company has designed a crosscut (tunnel)
150 metres straight northeast into the hanging wall of the deposit. Drill
stations will be installed at predetermined intervals. The first round was
drilled and shot on February 2 and the crosscut has advanced 16 metres.
    The crosscut is a 2 metre by 2 metre tunnel with ventilation duct, air
and water lines and rails. Subject to initial results, when the tunnel reaches
150 metres the Company may turn it to the northwest and continue parallel to
the main sulfide beds another few hundred metres for more drill stations.
Pebble Creek is driving the tunnel with in-house equipment, engineering and
labor at one shift per day, scheduled to increase to two shifts.

    Pebble Creek has 12 years of experience in India, a technical and
administrative staff there, and more than ten projects in various stages of
acquisition and exploration in the country. Data on Pebble Creek are available
on www.sedar.com and www.pebcreek.com.
    India is the world's largest democracy. It has a well developed
private-sector commercial infrastructure and a rapidly growing economy. Its
laws are based on English common law and it has a mature judicial system.
India has a strong mineral and mining heritage but is a net importer of ores,
concentrates and metals in the non-ferrous, non-aluminous sectors. Its rich
Precambrian geology is under explored and under developed with respect to
zinc, copper, lead, gold, silver and related metals.

    Forward-Looking Statements. This news release contains forward-looking
statements, which address future events and conditions, which are subject to
various risks and uncertainties. The Company's actual results, programs and
financial position could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors, some of which may
be beyond the Company's control. These factors include: the availability of
funds; the timing and content of work programs; results of exploration
activities and development of mineral properties; the interpretation of
drilling results and other geological data, the uncertainties of resource and
reserve estimations, receipt and security of mineral property titles; project
cost overruns or unanticipated costs and expenses, fluctuations in metal
prices; currency fluctuations; and general market and industry conditions.
    Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The assumptions
used in the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such under reliance
should not be placed on forward-looking statements.

    On behalf of the Board,

    "Andrew E. Nevin"

    President & CEO
    Pebble Creek Mining Ltd.
    302-750 West Pender Street
    Vancouver, BC V6C 2T7
    +1 604 696 6101
    fax +1 604 696 6196
    info@pebcreek.com

    "The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release."
    %SEDAR: 00023083E




For further information:

For further information: Andrew Nevin, President and Chief Executive
Officer of the Company at (604) 696-6101

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