PC Gold Working In Pickle Crow
One of the biggest problem with a lot of junior miners is that a lot of them have too many projects or too much land holdings scattered all over the place. These days you can read on various corporate websites and see how just many have a whole lot of land and not a lot of money. Having too much land or projects doesn't allow you to focus on one specific project and if even if you focus on one specific project you still have finacial obligations to keep yourself vested in these other properties or projects. Of course this is the nature of junior mining. Someone hits a strike somewhere and everyone rushes over to stake up land. In the mining game, nobody wants to be left out.
Not all juniors are that way though. Some juniors have been working away at the same project for years. Sampling, mapping and drilling. Rinse and repeat. One of these such companies is PC Gold PKL. PC Gold has one project and that project is the Pickle Crow mine in Pickle Lake Ontario. Since taking 100% ownership in 2008, the company has been delivering a lot of great results from this past producing mine. With all exploration submitted it demonstrated the presence in the Pickle Crow mine of a 1.26 million ounce NI 43-101 compliant gold resource* (10,150,000 tonnes averaging 3.9 g/t gold). The higher grade underground component of this initial resource is 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.
All the preliminary exploration is now finished and the company is looking into more technical and advanced work like permitting, dewatering
underground exploration and resource definition drilling, now in planning, designed to better define and lift current NI 43-101 Inferred level resources into higher confidence categories, expand known zones, and explore untested areas which cannot easily be accessed from surface.
Looking back to 2008 on a stock chart above shows just where this junior has been. Back in 2010 the stock was almost $2.00. Since then the stock has fallen downward along with others in the sector. The company however has been putting out a lot of news lately. In early May they did a $700,000 PP. Since then there has been a steady stream of news in regards to drill results and those results look very promising. Trading volumes are fair also around the 100,000 per day.
There is an old saying in the field. The best place to find a mine is close to a mine and this junior is in the mine. There are only around 100 million shares O/S. Right now the stock price is 8 cents so in reality looking forward there is nowhere to go but up with this junior. You can view their new June 2014 presentation here. For an 8 cent stock I was quite impressed.
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