Pacific Gold Corp.-Black Rock Canyon Update
May 24 2011 - 12:18PM
Marketwired
Pacific Gold Corp. (PINK SHEETS: PCFG)
The Company has been preparing the Black Rock Canyon Mine for
production. During the first and second quarters of 2011 work has
included: road preparation, plumbing for the geotextile tubes,
electrical work, additional fencing and enhanced security measures.
The Company is also making repairs that are necessary prior to
production to one of its water wells.
The NDEP has informed Nevada Rae Gold that it requires the
Company to make some adjustments to the Black Rock Canyon Mine
settling pond system, and that NDEP staff will need to approve
these adjustments prior to the mine commencing operations. The
Company will complete the adjustments in June.
Subject to NDEP approval and the water well repairs the mine is
ready to commence operations.
Nevada Rae Gold has retained an environmental engineering
consultant with a monthly contract that instructs the consultant to
perform all of the work as necessary in order to maintain all of
the state and federal permits required at the Black Rock Canyon
Mine. The new consultant will help to ensure that all permits,
regulations and reports are regularly and properly submitted as
required to the various county, state and federal regulatory
agencies during operation of the mine.
Based on the high price bids received for contract hauling of
gravels at the mine, the Company has decided it would be best for
the first few months of production to rent machinery and haul the
gravels without outsourcing. Renting equipment will keep the
capital costs lower and provide the mine with flexibility as
production increases.
Pacific Gold Corp., currently has 745,732,651 shares
outstanding.
To find out more about Pacific Gold Corp. (PINK SHEETS: PCFG),
visit the Company's website at www.pacificgoldcorp.com.
About the Company
Pacific Gold Corp.'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 four 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; 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 2011 and beyond, to differ materially from
those expressed in, or implied by, these forward-looking
statements.
Contacts: Pacific Gold Corp. 416-214-1483
www.pacificgoldcorp.com