RE: drilling results out
Mr. J.P. Chauvin reports
PC GOLD RELEASES FALL DRILLING RESULTS ON THE SHALLOW BIF TARGET IN THE CORE MINE TREND
Metallurgical work was also carried out this fall on the core mine trend BIF. SGS Lakefield analyzed two metallurgical samples taken from stockpiled BIF mineralization from Canterra's (the previous property owner) 2002 operations. The two samples, grading 3.74 grams per tonne and 9.29 grams per tonne, returned between 93.4 per cent and 97.7 per cent recovery using a combination of gravity and cyanidation, while returning between 43.4 per cent and 59.0 per cent on gravity alone. These results are similar to bulk sampling done by Canterra in 2000 on the high-grade No. 5 and No. 1 veins which returned recoveries between 98.2 per cent and 99.4 per cent.
J.P. Chauvin, the company's president and chief financial officer, stated: "The core mine trend BIF has been and remains a key target area in defining additional ounces at Pickle Crow. Once we have dewatered the workings, this geological feature, specifically the No. 5 BIF zone, offers the greatest potential for expanding bulk underground resources at Pickle Crow. Our primary focus right now remains getting underground to better define, upgrade and expand our inferred gold resource. We continue to add underground mining and engineering expertise to our management and technical committee as the company executes on its underground exploration and development push."
The Pickle Crow gold mine hosts a high-quality 1.26-million-ounce NI 43-101 inferred gold resource(i) (10.15 million tonnes averaging 3.9 grams per tonne gold (cut, diluted and constrained)). This includes a higher-grade underground component comprising 1.1 million ounces averaging 5.4 grams per tonne gold, including a high-grade vein component of 600,000 ounces averaging 9.3 grams per tonne gold, which the company is focused on developing.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. Kevin in talking with him said when all the drilling is done 6 million plus ounces will be found the ground so lets hope he is right!