555 LEGGET DR, SUITE 304
KANATA
Ontario
Canada,
K2K 2X3
Phone: +1 613 271 2105
Fax: +1 613 271 2121
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PC Gold Inc. (PKL : TSX) provides an excellent opportunity for investors who subscribe to the adage that the best place to find a new mine, is on the site of an old one. The Company has a single excellent asset: the past producing high grade Pickle Crow gold mine in politically stable Ontario. The Pickle Crow Mine was a long-life (31 years), high grade (life of mine average ~16 g/t (0.47 oz/T)), consistently profitable operation, producing in total 1.45 million Troy ounces of gold. When the mine closed in 1966, gold was worth just $35/oz, productive high grade veins remained open, and zones of gold in iron formation sat largely untouched within the workings. PC Gold has begun a major exploration program to define and expand known gold zones within or in close proximity to the historic workings, and to seek extensions to those zones, and new discoveries, in the virgin ground beneath the old mine, where the system lies open. The planned exploration program is expected to encompass some 45,000 metres of diamond drilling per year of combined shallow, intermediate and deep exploration with three drill rigs.
For more information visit:
www.PCgold.ca
Company NewsTuesday, June 30, 2009 PC Gold Inc. has negotiated a commercially reasonable efforts private placement with Canaccord Capital Corporation for up to 4,600,000 units at a price of $0.53 per unit for gross proceeds of up to $2,438,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to subscribe for one additional common share at a price of $0.75 for a period of 12 months from the date of closing. The funds raised from the issuance of the units will be used for exploration of the company’s Pickle Crow Gold Mine property in Ontario, Canada, and for general working capital purposes. Map Legend: Producer Past Producer  Development  Exploration |
