PC Gold Inc.

PC Gold Inc.

November 02, 2009 07:30 ET

PC Gold Hits Bonanza-Grade 3.27 oz/ton Gold Over 3.8 Feet (112.15 g/t Over 1.15 Metres) in Deep Drilling at Pickle Crow

OTTAWA, ONTARIO--(Marketwire - Nov. 2, 2009) - PC Gold Inc. (TSX:PKL) is pleased to report that results have been received for the completion of deep wedge hole PC-08-014AW03, which has cut multiple high grade veins.


- 112.15 g/t gold over 1.15 metres (3.27 oz/ton over 3.8 feet) in the No. 5 Vein

- 38.77 g/t gold over 0.30 metres (1.13 oz/ton over 1.0 feet) in the No. 11 Vein

- 10.99 g/t gold over 1.40 metres (0.32 oz/ton over 4.6 feet) in a new vein hosted in iron formation (previously reported)

Wedge hole PC-08-014AW03 intersected the No. 5 Vein (from 959.50 to 960.65 metres) near the 3,200 foot (975 metre) level of Shaft 1 approximately 40 metres below and to the southwest of mother hole PC-08-014A (press release, February 3, 2009), and is representative of some of the famously high-grade mineralization mined in the past. Abundant visible gold was observed. The hole also intersected the No. 11 Vein (from 971.70 to 972.00 metres), containing abundant visible gold. In addition, a previously unknown vein was intersected (from 998.80 to 999.30 metres) similar in appearance to the No. 5 and No. 11 veins (but lacking visible gold), which returned 1.80 g/t gold over 0.50 metres (0.05 oz/ton over 1.6 feet). True widths are estimated at between 50-60% of core length. Assay values are uncut. These three vein intercepts, coupled with the previously announced up hole intercept (see press release, February 3, 2009 and third bullet above) of another new vein (from 870.00-871.40 metres), brings to four the total number of gold bearing veins cut by hole PC-08-014AW03.

A fourth wedge hole PC-09-014AW04, presently at about 1,180 metres downhole, is targeting the No. 5 Banded Iron Formation (BIF) Zone southwest of the lowest level (3,800 feet/1,160 metres) of Shaft 1, where historical drill holes such as 4-38-38 returned up to 13.71 g/t gold over 12.95 metres (0.40 oz/ton over 42.5 feet). The hole is now coring through the target and results are pending.

Upon completion of the current wedge hole, the drill will be moved to a new site northeast of Shaft 1, where it will commence drilling a new mother hole to a vertical target depth of 1,700 metres (5,600 feet) below surface, undercutting the deepest workings of the former mine. This mother hole and subsequent wedge holes will target some of richest historical ore bodies in the former mine including the No. 1, No. 5, and No. 9 veins in addition to the No. 1, Central and No. 5 BIF Zones.

A location map and a cross section for the deep holes discussed in this news release can be viewed on the Company's website at: http://media3.marketwire.com/r/pkl1102_drilling_2009_Maps_Sections_84.

Neil Pettigrew, M.Sc., P.Geo., Vice President, Exploration for PC Gold and a 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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