PC Gold Inc.
PC Gold Intersects 137.19 g/t Au (4.00 Oz/Ton) Over 1.00 m (3.3 Ft) in the No. 22 Vein at Pickle Crow Property in NW Ontario

PC Gold Inc.  / Key word(s): Miscellaneous

05.03.2012 18:44
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TORONTO, ONTARIO -- (Marketwire) -- 03/05/12 --   PC Gold Inc. (TSX:
PKL)(FRANKFURT: AJ2) ('PC Gold' or the 'Company') is pleased to
report preliminary results from the 2012 winter drill program, which
has intersected additional high-grade mineralization in the newly
identified No. 22 Vein (444.38 g/t over 1.50 m, see January 11th,
2012 news release) located in the Shaft 3 area of its 100% owned
Pickle Crow property. The initial phase of the winter drilling
program has intersected the No. 22 vein in five of six holes; four
holes have encountered visible gold and one hole (PC-12-253) has
abundant fine-grained visible gold and returned 137.19 g/t gold over
1.00 m (4.00 oz/ton over 3.3 ft). Assays are pending for the
remaining five holes. 

The No. 22 vein and other shallow high-grade veins in the Shaft 3
area are likely, with further drilling, to contribute additional
resources to the Pickle Crow Mine which currently hosts a 1.26
million ounce NI 43-101 inferred gold resource(i) (10,150,000 tonnes
averaging 3.9 g/t gold, cut, diluted and constrained). This includes
a higher grade underground component comprising 1.1 million ounces
averaging 5.4 g/t gold, including a high grade vein component of
600,000 ounces averaging 9.3 g/t gold, which the Company is focused
on proving up. 

Highlights:


--  137.19 g/t gold over 1.00 m (4.00 oz/ton over 3.3 ft) from 24.70 to
    25.70 m in hole PC-11-253. 
--  No. 22 Vein intersected in 5 of 6 initial holes drilled to date in the
    winter program with 4 returning visible gold. Assay results for the
    remaining 5 holes are expected later this month. 


Note: Reported widths are drilled core lengths; true widths are unknown
at this time. All assays are performed by Accurassay Laboratories of
Thunder Bay, Ontario. All assays reported are uncut. Reported widths
are drilled core lengths, true widths are unknown at this time.

Commenting on the results, JP Chauvin, President and CEO said: 'We
continue to be impressed by the drill results from the No. 22 vein
area. It is a rare opportunity to have such prospective ground at
surface 400m from the mine workings that has seen so little
historical exploration'. 

The No. 22 vein and other nearby gold-bearing veins located south of
the No. 3 Shaft are hosted within volcanic and gabbroic rocks of the
Confederation Assemblage, which traditionally were not thought to
host Pickle Crow type veins, and therefore have experienced little
exploration. The No. 22 Vein may represent the up dip projection of
the high-grade No. 8 vein structure (mined from the 2850 to 2350 foot
level). The winter drill program will continue to focus on these
veins at shallow depths.

Maps and photographs of the vein intercepts discussed in this news
release can be viewed on the Company's website at:
http://www.pcgold.ca/pr5mar2012/.

QA/QC Procedures

PC Gold has implemented a rigorous quality assurance / quality
control (QA/QC) program to ensure best practices in sampling and
analysis of drill core, the details of which can be viewed on the
Company's website at http://www.pcgold.ca/en/QAQC_Procedures_46.html.

Neil Pettigrew, M.Sc., P.Geo., Vice President, Exploration for PC
Gold and the Company's Qualified Person as defined by NI 43-101, has
reviewed and approved the technical information in this press
release.

Upcoming Events 

PC Gold is attending the PDAC 2012 Conference in Toronto, Canada from
March 4 to 7 (booth # 2500 in the Investors Exchange). PC Gold's
management team will be available to meet with investors. 

(i) Entirely NI 43-101 Inferred category. The NI 43-101 resource
estimate was prepared by Fladgate Exploration Consulting Corporation,
and audited and approved by Micon International Limited under the
direction of Mr. B. Terrence Hennessey, P.Geo., MAusIMM, Vice
President of Micon, an independent Qualified Person as defined by NI
43-101. Mr. Neil Pettigrew, Vice President, Exploration for PC Gold
and the Company's Qualified Person, is also a partner in Fladgate.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. The quantity and grade of reported
inferred resources in this estimation are conceptual in nature and
there has been insufficient exploration to define these inferred
resources as an indicated or measured resource and it is uncertain if
further exploration will result in upgrading them to an indicated or
measured resource category. 

A copy of the NI 43-101 compliant technical report dated June 2, 2011
containing full details of the resource estimation and entitled: 'A
Mineral Resource Estimate for the Pickle Crow Property, Patricia
Mining Division, Northwestern Ontario, Canada' can be obtained from
the Company's website at:
http://www.pcgold.ca/en/Technical_Reports_52.html.

This news release may contain forward looking statements concerning
future operations of PC Gold Inc. All forward looking statements
concerning the Company's future plans and operations, including
management's assessment of the Company's project expectations or
beliefs may be subject to certain assumptions, risks and
uncertainties beyond the Company's control. Investors are cautioned
that any such statements are not guarantees of future performance and
that actual performance and exploration and financial results may
differ materially from any estimates or projections.

The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.






News Source: Marketwire



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Language:     English
Company:      PC Gold Inc.
              
               
              Canada
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         CA69320J1066
WKN:          
 
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