Analysts at Couloir Capital have set a fair value of C$0.28 for Pinnacle Silver and Gold (PINN ), following the latest drilling news from the El Potrero project in Mexico.
Pinnacle shares are currently trading at C$010.
“Initial underground drilling validates grade and continuity at Pinos Cuates,” said Couloir.
“Pinnacle has completed 58 of a planned 108 underground holes, with assays received for the first 37. Hole EPUG26035 returned 13.18 meters grading 9.69 grams per tonne gold and 143 grams per tonne silver, including 1.07 meters grading 59.2 grams per tonne gold and 424 grams per tonne silver with visible gold, while step-outs have extended the interpreted upper-level strike length to at least 70 meters.”
Couloir noted that the broader system remains open for expansion.
“Underground drilling, mapping and channel sampling indicate a 6.5-7.0-meter-wide Dos de Mayo structure at the upper Pinos Cuates level,” it continued.
“Surface drilling planned for September–October 2026 will test gaps and extensions along the roughly 500-meter Dos de Mayo trend and provide first drill tests of the La Estrella and El Capulin satellite veins.”
Couloir also noted that towards the end of summer Pinnacle launched a non-brokered placement of up to 20 million units at C$0.11 to raise up to C$2.2 million, of which a first tranche of C$652,080 closed on 7th August 2026.
“In parallel,” continued Couloir,” Auramet Capital Partners has been appointed Lead Project Financier to arrange up to US$5 million of non-equity project financing for the restart, materially reducing dilution risk. A formal production decision is targeted by late Q4 2026. We reiterate our BUY rating and update our fair value per share target to C$0.28 per share.”
View from Vox
Good upside on offer at Pinnacle, according to Couloir, and with the recent high grade drill hits that Pinnacle has been returning from El Potero, it looks like there is plenty of grounds for this optimism. More assays are pending from Pinnacle, as drilling continues. So newsflow is likely to be plentiful as we move deeper into the fourth quarter.