PC Gold Discovers Large New Gold Zone at Pickle Crow; Hit in 8 Holes from Surface to 500 Metres Down-Plunge; Robust Widths and Grades
Mon Sep 28, 8:08 AMOTTAWA, ONTARIO--(Marketwire - Sept. 28, 2009) - PC Gold Inc. (TSX: PKL.TO) ("PC Gold" or the "Company") is pleased to announce the discovery of a major new gold zone in the heart of the Albany Shaft portion of the Pickle Crow Gold Mine Property. This entirely new discovery, termed the Conduit Zone ("CZ"), carries consistently good grades over robust widths, displays impressive continuity, and remains open for expansion down-plunge to the north, where drilling is continuing. Drilling is expected to be ongoing throughout the Fall on the CZ, subject to ground conditions.
Highlights:
- Hole PC-09-036 which returned 3.17 g/t over 35.6 metres
-- including 9.53 g/t over 10.1 metres
-- including 15.25 g/t over 6.1 metres
-- including 28.91 g/t over 2.9 metres
-- including 58.78 g/t over 0.8 metres
- Hole PC-09-037 which returned 2.11 g/t over 40.5 metres
-- including 5.55 g/t over 11.0 metres
-- including 14.83 g/t over 3.3 metres
-- including 56.22 g/t over 0.65 metres
- Hole PC-09-028 which returned 1.42 g/t over 32.4 metres
-- including 6.40 g/t over 4.1 metres
-- including 8.01 g/t over 1.4 metres
"The Conduit Zone discovery is the most important new discovery on the Pickle Crow Property since the mine closed in 1966", said Kevin Keough, PC Gold's President and CEO. "It is impressive not only for the excellent grades and widths, and the extent over which we've now drilled it, but for what it could lead to in terms of further discoveries". A total of 8 diamond drill holes have now intersected the CZ, commencing with Fall 2008 Phase I drill program hole PC-08-020, and holes PC-09-028, 036, 037, 040, 041, 042, and 043 from the current Phase II drill program. As previously reported (news release, January 22, 2009), hole PC-08-020 returned 1.72 g/t over 48.4 metres including 4.03 g/t over 13.5 metres, including 18.15 g/t over 0.5 metres. However, due to the unique style of the mineralization, the implications of the new zone were not recognized until similar mineralization was intersected 200 metres down plunge in hole PC-09-028, the first hole of the current Phase II drill program. This news release reports assays for hole PC-09-028 and the next two holes in sequence, PC-09-036 and 037. 3D modeling of the CZ has revealed a continuous north-northwest trending, shallowly plunging, pipe-shaped body which had not been intersected by any historical drilling. Subsequent drill holes by PC Gold have been highly successful in targeting the CZ and extending it to its current down-plunge depth of 500 metres, where it remains open. The CZ consists of a thick package of highly deformed stockwork and breccia-style veins with distinctive alteration halos. The trend of the CZ happens to be roughly parallel to the drilling direction favoured by historical operators when exploring for the high-grade veins previously mined on the Property. As a result, the CZ and possibly other zones like it were missed. The discovery of the CZ has strongly positive exploration implications for the Pickle Crow Property. The CZ most likely lies within a planar structure, which may contain a stacked series of similar pipe-shaped bodies. It is therefore probable that others exist nearby. Evidence to support this theory may have already been found in the form of three historically known Albany Shaft area gold zones located not far to the southwest of the CZ, known as the 'A', 'B' and 'C' zones, respectively.
Table 1. Significant Results: Note: true widths are estimated to be 85-90%
of core length. Assay values are uncut.
Hole Area Target From To Width Au Ag
(m) (m) (m) g/t g/t
less
Albany than
PC-09-028 Shaft Conduit Zone 273.90 306.30 32.40 1.42 1
less
than
Including 273.90 278.00 4.10 6.40 1
less
than
Including 276.00 277.40 1.40 8.01 1
less
Albany than
PC-09-028 Shaft No. 14 Vein 561.45 562.80 1.35 4.96 1
Albany
PC-09-036 Shaft Conduit Zone 289.10 324.70 35.60 3.17 1
Including 314.60 324.70 10.10 9.53 1
Including 318.60 324.70 6.10 15.25 2
Including 319.20 322.10 2.90 28.91 6
Including 319.20 320.00 0.80 58.78 6
Zone
Albany (Sulphidized
PC-09-036 Shaft BIF) 420.80 421.40 0.60 11.41 3
less
Albany Zone (Unknown than
PC-09-036 Shaft Vein) 428.00 429.00 1.00 8.12 1
New unnamed
highly less
Albany anomalous than
PC-09-036 Shaft lower zone 482.00 531.80 49.80 0.32 1
less
than
Including No. 14 Vein 486.10 487.00 0.90 8.51 1
Albany
PC-09-037 Shaft Conduit Zone 144.50 185.00 40.50 2.11 1
Including 151.00 179.00 28.00 2.73 1
Including 168.00 179.00 11.00 5.55 2
Including 175.70 179.00 3.30 14.83 4
Including 176.90 177.55 0.65 56.22 12
Core photos, a location map and a cross section for the holes discussed in this news release can be viewed on the Company's website at: www.pcgold.ca/en/Drilling_-_Maps,_Images,_Photos_77.html. QA/QC Procedures PC Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of drill core, the details of which can be viewed on the Company's website at www.pcgold.ca Neil Pettigrew, M.Sc., P.Geo., Vice President, Exploration for PC Gold and the Company's Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.ContactsKevin M. Keough PC Gold Inc.
President and Chief Executive Officer
(613) 271-2105 or (613) 839-2684
Email: kevin.keough@pcgold.ca
Website: www.pcgold.ca
158.94 (1.43%)
