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3/14/2008 8:12:00 AM ET
PCFG - Black Rock Canyon Mine Testing
TORONTO, March 14, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
Pacific Gold Corp. (OTCBB: PCFG) today provided an update on planning revisions at the Black Rock Canyon mine owned and operated by Nevada Rae Gold, Inc.
Recently mine staff tested a mining system of pre-screening material at the mine site prior to hauling to the main screening plant. The process involved dry screening the gravels with a power screen prior to the material being loaded onto haul trucks.
A series of gold bearing ("ore"), gravel samples were run to determine whether significant gold is lost when the material is dry screened at the mine. The advantage of screening the gravel at the mine is to reduce the amount of material to be hauled. A five by ten foot double deck Reids vibrating screen deck was used to process the gravel into several size fractions. It was powered by a small diesel engine and was equipped with hydraulic leveling jacks.
The test results showed that by pre screening the gravels down to 2 and 1/4 inches that the amount of material to be hauled to the plant was reduced by up to 40% with an estimated 3% reduction in the amount of gold available to be recovered.
As a result of the testing the Company has determined a cost benefit analysis to pre screening at the site based on the spot price for gold. Depending on the current market price for gold the Company can move to pre screening to save on hauling costs or switch back to 100% hauling when the gold price is high enough to overcome the additional hauling costs.
In addition the Company engaged a contractor to perform a hauling test using over the road trucks with double dump side trailers that can unload on the go without stopping. The results showed that the trucks could move the gravels significantly faster and cheaper than the current mining trucks.
The over the road trucks are cheaper to maintain, replace, and use much less fuel than the standard mining haul trucks. These trucks are also much easier to bring in and out of service which will allow for fast switches between pre screening gravels and hauling all of the mined material to the plant. The Company expects that a change in haul trucks will result in significant cost reductions and improve up time of the mine.
To find out more about Pacific Gold Corp. (OTCBB: PCFG), visit our website at www.pacificgoldcorp.com. Or contact the Company directly at 416-214-1483.
About the Company
The Company's business plan provides for the acquisition and development of production-ready and in-production mining operations. The Company is focused on alluvial gold and base metals operations located in western North America. Pacific Gold Corp. owns five operating subsidiaries: Nevada Rae Gold, Inc. ("Nevada Rae") owns and operates the Black Rock Canyon gold mine, located in north-central Nevada; Pilot Mountain Resources Inc. ("Pilot Mountain") owns Project W, a large tungsten based deposit in Nevada; Fernley Gold, Inc. ("Fernley Gold") acquired exclusive lease rights to mine the Lower Olinghouse Placers in north-western Nevada; Oregon Gold, Inc. ("Oregon Gold") owns the Bear Bench claims and Defiance mine, located in south-western Oregon; and Pacific Metals Corp. ("Pacific Metals") owns claims in San Juan and Delores Counties, Colorado, encompassing the historic Graysill Mine.
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 2008 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.
SOURCE Pacific Gold Corp.
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