SOURCE: Pavilion Energy Resources, Inc.

Pavilion Energy Resources, Inc.

January 26, 2011 09:20 ET

Pavilion Energy Resources Inc., California Iron Ore-Gold Mining Joint Venture

LOS ANGELES, CA--(Marketwire - January 26, 2011) -  Pavilion Energy Resources, Inc. (PINKSHEETS: PVRE). The Company and JV partners have applied to the California Governor for a 300 square mile exploration-mining lease containing potentially vast offshore iron-sands, with chromite and gold-platinum credits. 

Geological models suggest that the lease application could contain a billion tons of high-grade iron-chromite-precious metals resources located in near-shore, easily accessed oceanic placers, with the lowest lifting costs of any iron ore.

Iron sands and associated minerals are now very valuable commodities. The increasing prices of iron ore, chromite, rare earths and gold, coupled with new higher-powered ocean-going suction dredge technology has opened up the possibility of profitably mining the vast California near-shore alluvial metals deposits.

Shallow ocean placer mining is an established, low environmental impact worldwide mining activity.

PVRE's proposed dredge miners could cost around 80% less per unit of iron-ore output than onshore iron ore mines.

PVRE believes the Sustainable Mining Division may create a breakout, (company-making) asset, which could significantly increase shareholder value.

Once the first PVRE JV dredge is operational, the JV could become a multi-billion dollar valued business, due to the potential vast metals resources under JV control, higher profitability and unlimited expansion potential of the mines. 

PVRE is a 10% JV partner in this and additional Iron-Gold-Sands lease applications, now in preparation.

See information at; www.pvre.biz/IRON-ORE-1.htm 

This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions. However, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: risks associated with exploration, competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation.

Contact Information

  • Contact:
    Peter Sterling
    President
    (323) 356-7777