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The Company owns 40 unpatented lode mining claims in San Juan and Dolores Counties, Colorado immediately southeast of Bolam Pass.
Description and Location
The claims are located at an elevation of 11,000 feet above mean sea level and are accessible by a dirt road that is maintained during the summer months by the United States Forest Service. The property, which is referred to as the Graysill Property, encompasses the historic Graysill Mine, a past producer of vanadium and uranium ore. The Graysill Mine is known to have produced vanadium and by-product uranium during a period of approximately twenty years after World War II. Before the mine ceased production, approximately 32,000 tons of ore were mined with a reported grade of 2.41% vanadium pentoxide and 0.09% uranium oxide. In 1989, representatives of the United States Department of the Interior, Bureau of Mines Division, examined a number of abandoned mines in the San Juan National Forest, one of which was the Graysill Mine. Subsequently, in 1992, the Bureau of Mines produced a Mineral Land Assessment Open File Report titled "Mineral Appraisal of San Juan National Forest, Colorado". Most of the information relating to the Graysill Mine and the geology and mineralization of the general area within which the Graysill Property is located was obtained from this Open File Report.
The property is underlain by a gently dipping assemblage of Paleozoic and Mesozoic sedimentary rocks within which vanadium and uranium occurs in many of the rock units in a stratabound manner, exhibiting little or no apparent relationship to regional structural trends. Although vanadium and uranium occurrences are ubiquitous and are known to exist in over 20 distinctly different sedimentary units in the vicinity of the property of American Uranium, the Pennsylvanian-Permian Rico Formation and the Upper Jurassic Entrada Sandstone are the only formations which have been mined previously for vanadium and uranium. Most of the past production has come from the Entrada Sandstone. Historically, there have been a number of uraniferous vanadium deposits developed in the Entrada Sandstone along a sinuous trend extending in a north-south direction for over 100 miles. This trend coincides with a major structural feature representing a transitional zone between the Colorado Plateau and the Southern Rocky Mountain physiographic provinces.
LIST OF 40 MINING CLAIMS
| Pacific Metals Corp 848 N. Rainbow BLVD. #2987 Las Vegas Nevada 89107-1103 Customer ID 2241141 Serial # Claim # Lead Serial # Disposition
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NEWS
7/23/2012 http://www.pacificgoldcorp.com/news120723.html
PCFG - Pacific Metals SEC Reporting and Historical Geology Report
Pacific Metals Inc. has received the final version of its commissioned geologist report on the Graysill Mine project. The report contains sections including; location and access, production history, development of the Graysill mine, exploration history, geology of the area, ore genesis of the Graysill deposit, potential resources, along with various maps. The report also contains recommendations for the second phase of an exploration for the project, including sampling and drilling, as recommended by the geologist consultant. The recommendations are being studied by the Company for implementation as soon as practicable.
Mar 15, 2013 http://www.otcmarkets.com/stock/PMET/news
Pacific Gold Corp.: Pacific Metals Corp. Approved for OTCBB Quotation
TORONTO, ONTARIO, Mar 15, 2013 (MARKETWIRE via COMTEX) -- Pacific Gold Corp. (OTCQB: PCFG)(PINKSHEETS: PCFG), Pacific Metals Corp. (OTCBB: PMET) -Pacific Gold Corp. (the "Company") announced today that, effective March 15th, its subsidiary Pacific Metals Corp. was approved for an OTCBB quotation by FINRA. Pacific Metals Corp. will trade under the symbol: PMET.
PMET Security DetailsShare Structure
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