PC Gold Inc.

PC Gold Inc.

February 11, 2010 07:30 ET

PC Gold Continues to Intersect New High Grade Veins; Starts Drilling Major Cohen-MacArthur Structure

OTTAWA, ONTARIO--(Marketwire - Feb. 11, 2010) - PC Gold Inc. (TSX:PKL) is pleased to report the intercept of four new gold bearing veins located in close proximity to historic workings at Pickle Crow. The new discoveries include two shallow veins (designated "No. 19" and "No. 20") similar in character, orientation and apparent grade to the historically most important producing veins in the Pickle Crow gold mine, which each produced several hundred thousand ounces of gold. 


  • New No. 19 Vein7.50 g/t gold over 1.50 metres (0.22 oz/ton over 4.9 feet) including 14.49 g/t gold over 0.6 metres (0.42 oz/ton over 2.0 feet) in hole PC-09-052A and 15.95 g/t over 0.7 meters (0.47 oz/ton over 2.3 feet) in hole PC-09-052. This new vein was intersected at a vertical depth of approximately 500 metres lateral to the 750 level workings and well up hole of the intended deep targets below the Shaft 1 workings.
  • New No. 20 Vein20.96 g/t gold over 0.50 metres (0.61 oz/ton over 1.6 feet) in hole PC-10-057 intersected at a vertical depth of approximately 126 metres. This new vein (previously announced January 21, 2010 as a VG intercept only) may be related to deeper historical drill hole intercepts suggesting it may be considerably thicker and higher grade at depth. 
  • New Vein: 56.30 g/t gold over 0.40 metres (1.64 oz/ton over 1.3 feet) in hole PC-09-014A-W04A intersected at a vertical depth of approximately 730 metres. This new vein was intersected northwest of the No. 5 vein workings.
  • New Vein: 8.76 g/t gold over 0.30 metres (0.25 oz/ton over 1 foot) in hole PC-09-014A-W04A intersected at a vertical depth of approximately 1000 metres. This new vein was intersected northwest of the No. 5 vein workings and may be related to the same vein system.

Commenting on the new vein discoveries, Kevin Keough, President and CEO said: "We've demonstrated time and again that Pickle Crow has many high grade gold bearing veins. These latest discoveries, in particular the No. 19 and No. 20 veins, have the potential with further drilling to add considerably to the Property's resource base. In the near term, shareholders should also watch for developments from ongoing drilling at the major Cohen-MacArthur structure to the north, which we believe has the potential for some really large new discoveries."

Cohen-MacArthur Drilling Underway

Two drills are presently active testing a series of swamp covered Titan IP targets along the very large-scale Cohen-MacArthur shear structure located north of, and sub parallel to, the core mine trend. The Cohen-MacArthur structure is at least five kilometers in length, up to 400 metres in width, and wholly contained within the Pickle Crow Property. Limited historical drilling and trenching, along with the Company's own prospecting, has demonstrated that the structure is gold-bearing. 

Location maps for the holes and vein intercepts discussed in this news release can be viewed on the Company's website at: http://www.pcgold.ca/en/Drilling_2010_-_Maps,_Sections_90.html

Table 1. Significant Results: Note: True widths are estimated to be ~60-70% of core length. All assays are performed by Accurassay Laboratories of Thunder Bay, Ontario. Assay values are uncut.

Hole Area Target From (m) To (m) Width (m) Au (g/t) Ag (g/t)
PC-09-014A-W04 Shaft 1 No. 1 Vein 503.00 503.30 0.30 9.22 <1
PC-09-014A-W04A Shaft 1 New Vein #3 747.40 747.80 0.40 56.30 1
    New Vein #4 1025.00 1025.30 0.30 8.76 2
    No. 5 BIF Zone 1137.20 1163.00 25.80 1.02 1
Including     1138.50 1142.00 3.50 3.41 1
Including     1140.00 1140.50 0.50 8.41 2
And     1161.00 1162.00 1.00 8.06 2
    No. 11 Vein 1264.00 1265.00 1.00 1.09 <1
PC-09-052 Shaft 1 New No. 19 Vein 504.60 505.30 0.70 15.95 2
PC-09-052A Shaft 1 New No. 19 Vein 506.50 508.00 1.50 7.50 4
Including     507.00 507.60 0.60 14.49 6
PC-10-057 Shaft 1 New No. 20 Vein 125.60 126.10 0.50 20.96 N/A

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.

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