TORONTO, ONTARIO, Jul 11, 2012 (Marketwire via COMTEX) -- Pacific Gold Corp.
(OTCQB:PCFG)(PINKSHEETS:PCFG), is pleased to provide a progress update for Project W.
Pilot Metals holds a purchase option on Project W from PCFG's subsidiary Pilot
Mountain Resources until September 2013. Pilot Metals plans for 2012 include a
drilling program, resource calculation, metallurgy study and a scoping study.
PCFG management believes that Project W results received by Pilot Metals, to
date, have been equal to or exceeding historical reports prepared regarding
Project W resources.
From Pilot Metals release on July 9, 2012;
HIGHLIGHTS
-- Significant maiden JORC resource estimate for the Desert Scheelite
Deposit completed by independent consultants, Golder Associates, exceeds guidance by 36%.
-- Indicated and Inferred Resource of 6.79Mt @ 0.31% tungsten trioxide
(WO3), 22.8g/t silver and 0.17% copper reported at a 0.2% WO3 cut-off
with 90% of this resource in the "Indicated" category. Resource contains;
-- 2.1 million MTU's of WO3
-- 25 million pounds of Copper
-- 4.9 million ounces of Silver
-- Broader Indicated and Inferred Resource at a lower cut-off grade of 0.1%
tungsten trioxide (WO3) of 12.99Mt @ 0.23% WO3, 17.2g/t silver and 0.12%
copper represents a potentially significant bulk tonnage target with 84%
of the resource in the "Indicated" category.
-- Desert Scheelite deposit remains open in all directions with the most
easterly drill hole (DSDD-15) of the recent diamond drilling program
returning an exceptional intersection of 13.9m @ 0.89% WO3, 1.75% copper
and 31g/t silver from 198.7m
-- Updated combined Exploration Target across the three primary prospects
of 10.8 - 12.5Mt @ 0.32 -0.35% WO3. This includes 3-4Mt @ 0.36 - 0.41%
WO3 at the Garnet & Gunmetal Deposits.
-- Eleven other prospects within the project area are yet to be assessed.
-- Metallurgical reviews of historic Union Carbide Feasibility Study data
in addition to new test work has commenced to investigate modern
processing and blending alternatives to increase historical recoveries above the reported 76% - 86%.
-- Scoping Study planned to commence in current quarter.
To find out more about Pacific Gold Corp. (OTCQB:PCFG), visit the Company's
website at www.pacificgoldcorp.com.
