| From the press release referenced above, PC Gold intends to raise financing and implement a major program of exploration and development on the Pickle Crow Gold Mine, with the intent of returning the past-producing Pickle Crow Gold Mine to production, and to eventually complete a transaction to become a public issuer.
The past-producing Pickle Crow Gold Mine produced 1.44 million ounces of gold between 1935 and 1966 at an average grade of 16.1 g/t Au (0.47 oz/t Au)and closed in a low gold price ($35/oz) environment. The Pickle Crow Gold Mine is found within the Uchi geological subprovince, the same belt of rocks in which the mines at Red Lake, Ontario are found. From information obtained by Trillium, PC Gold claims to have an NI 43-101 inferred resource totaling 5,731,050 tonnes at 7.26 g/t Au (1,213,919 oz. Au).
Trillium believes this area is under explored and contains the potential for the discovery of extensions to the gold mineralization hosted at the Pickle Crow Mine. Our interpretation of more recent airborne magnetic surveys indicates that the Pickle Crow and nearby Central Patricia Mines lie on the southern edge of an iron formation that we have covered with our staking. For further information refer to the figure included in this section. Trillium has initiated an extensive review of all available data for the area in preparation for future exploration programs.
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