The revitalization of old Ontario and Quebec gold mines has been a well trodden route to success for such well-known industry names as Goldcorp, Detour Gold, Osisko Mining and Kirkland Lake Gold, all of whom, starting from humble origins, have achieved success with the old mine redevelopment model. 

PC Gold recognizes similar potential at Pickle Crow.  The property offers exciting exploration upside, both within, below and lateral to the old workings where the high grade No. 19, 20 and 21 veins were discovered in 2010, but also away from the core mine trend.  A Fall 2009 program of geophysics, for example, identified an array of excellent new targets associated with major shear structures such as the Cohen-MacArthur, underlying swampy areas to the north and south of the mine. 

Drilling of several of these targets in 2010 led to the discovery first of the Kawinogans Zone, and later, the new near surface Central Pat East Zone (CPE), which bears many similarities to the past-producing high grade Central Patricia mine (+4,100 feet deep; 650,000 ounces of gold at 0.38 oz/ton (13.03 g/t)), which hosted arsenopyrite-rich mineralization similar in style to that of Central Pat East. 

The Company recently achieved, at CPE, what is believed to be the longest gold bearing intercept in the history of the Pickle Lake mining camp, 0.82 g/t Au over 251.05 metres (206 gram-metres) including 1.46 g/t gold over 89.45 metres, in hole PC-11-131.  The most significant aspect of the Central Pat East discovery is the apparently large scale of the gold-arsenic system, as determined by the broad, near-surface intercepts in initial drilling, and the suggestion from historical holes and the company's own drilling, that the system continues well outside the bounds of the immediate area of the discovery.

With the recent delivery of an initial, high quality NI 43-101 compliant resource estimate for the Property, the Company believes it is now advisable to re-establish access to the presently flooded historical mine workings.  This will allow for underground based in-fill drilling designed to lift inferred-level resources into higher confidence categories, something that cannot be achieved for most zones from surface, given the depths involved, as well as resource expansion, and exploration for new zones.