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7/19/2004 3:14:00 PM ET
Pacific Gold Corp. Completes Set-up of the Defiance Mine Production Plant
TORONTO, Jul 19, 2004 /PRNewswire-FirstCall via COMTEX/ --
Pacific Gold Corp. (OTCBB: PCFG) announced today, its wholly-owned subsidiary, Grants Pass Gold, has completed set-up of the production plant and mill site for the recently acquired and fully permitted Defiance Mine located in south-western Oregon.
During the past two months, Grants Pass Gold replaced components of the existing plant which was acquired in May 2004. The Company replaced and added equipment to ensure efficient and effective operations. The new plant has been totally overhauled, and will allow the Company to achieve higher gold recovery rates and decreased costs such as fuel and labor.
New equipment purchased by Pacific Gold, and being used by Grants Pass Gold, includes modern earth moving and production equipment: CAT 980 front-end loader, Ford F-350 truck, F-600 fuel truck, hopper and feed belt, grizzly, Allis Chalmers double-deck screens, Knelson XD-30 concentrator, U-tech shaker table, air compressor, Hardy Diesel water pump, Honda WT40 water pump, and a 2-axle trailer, in additional to various other items. The production plant has now been completely assembled with final adjustments underway.
"Today marks another milestone for Pacific Gold," stated Mitch Geisler, President, "We have been able to modernize our plant efficiently and are now preparing for full production at the Defiance Mine."
About the Company
The Company's business plan includes the acquisition and development of production-ready, or in-production mining operations, concentrating on gold recovery. The Company is interested in alluvial, or placer, operations located in North America. Nevada Rae Gold, a subsidiary of Pacific Gold Corp., has acquired a gold project known as Crescent Valley, located in north-central Nevada, which contains a large alluvial deposit. Oregon Gold, a subsidiary of Pacific Gold Corp., owns a group of claims known as the Bear Bench, located in south-western Oregon. Fernley Gold, Inc., a wholly-owned subsidiary, has a lease agreement on a group of claims known as the Butcher Boy and Teddy Claims, located in western Nevada. Grants Pass Gold, Inc., a wholly-owned subsidiary, owns the Defiance Mine, located in Josephine County, Oregon.
This news release includes forward-looking statements that reflect Pacific Gold Corp.'s current expectations about its future results, performance, prospects and opportunities. Pacific Gold Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward- looking statements are based on information currently available to Pacific Gold Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2004 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.
SOURCE Pacific Gold Corp.
or Investor Relations, please call the Company at 416-214-1483, or visit our website at www.pacificgoldcorp.com. (PCFG)
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