|PC Gold holds 100% ownership of a rare asset: Pickle Crow, one of Canada’s best known past producing gold mines, located in north western Ontario in a belt of rocks well known for its rich gold deposits. Since assuming ownership in 2008, the company has delivered an array of positive exploration outcomes from Pickle Crow, both within the vicinity of the mine and elsewhere on the Property. These include new high grade vein discoveries lateral to the workings such as the No. 19 Vein, the intercept of high grades in the historically top producing No. 1 Vein well below the mine, and new, near surface gold finds at Kawinogans and Central Pat East (CPE).
The company’s exploration efforts recently culminated when it demonstrated (press release, click here) (full technical report, click here) the presence in the Pickle Crow mine of a 1.26 million ounce NI 43-101 compliant gold resource* (10,150,000 tonnes averaging 3.9 g/t gold). The higher grade underground component of this initial resource is 1.1 million ounces averaging 5.4 g/t gold, including a high grade vein component of 600,000 ounces averaging 9.3 g/t gold. The resource is high quality, encompassing data from more than 1,500 drill holes, with conservative top cuts applied to assays, vein grades diluted to practical mining widths, and open pit resources constrained by pit shells. Subject to dewatering and reconditioning, the mine’s existing underground development potentially provides direct or proximal access to every one of the underground zones included in this initial resource.
With the principal early stage exploration goals for the Pickle Crow property now achieved, the company is presently embarking on a phase of advanced exploration. This includes team-building, scoping studies and permitting (all underway), leading to the anticipated dewatering and reconditioning of the historical workings. These preparatory steps are expected to be followed by a program of underground exploration and resource definition drilling, now in planning, designed to better define and lift current NI 43-101 Inferred level resources into higher confidence categories, expand known zones, and explore untested areas which cannot easily be accessed from surface.
Ultimately, the goal of these advanced exploration activities will be to provide the Company with the information required to properly size infrastructure such as shafts, hoisting capacity and mill, identify optimal operational scenarios, and subsequently complete a pre-feasibility study (PFS).
* NI 43-101 Inferred category. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
The NI 43-101 resource estimate was prepared by Fladgate Exploration Consulting Corporation, and audited and approved by Micon International Limited under the direction of Mr. B. Terrence Hennessey, P.Geo., MAusIMM, Vice President of Micon, an independent Qualified Person as defined by NI 43-101. Mr. Neil Pettigrew, Vice President, Exploration for PC Gold and the Company's Qualified Person, is also a partner in Fladgate.
This website contains forward looking statements characterized by words such as “believe”, “estimate”, “expect”, “potential”, “could”, “project”, “may”, and similar expressions typically used to identify forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.