PCFG Acquires $700 Million Ore Deposit TORONTO, Aug 19, 2005...

PCFG Acquires $700 Million Ore Deposit
TORONTO, Aug 19, 2005 /PRNewswire-FirstCall via COMTEX/ -- Pacific Gold Corp., (OTCBB: PCFG) announced today that, Pilot Mountain Resources Inc., a subsidiary of Pacific Gold Corp., has acquired Project W from Platoro West Incorporated ("Platoro West").
Resource calculations from a feasibility study completed by Kaiser Engineers place the size of Project W at 9,061,600 tons, grading 0.386% WO(3) of combined proven, probable and possible ore, or approximately 35,000 tons of WO(3). Current prices of WO(3) as quoted in the Northern Miner place the gross value before extraction costs of the tungsten deposit at $674 million, not including credits from additional minerals.
"Project History
"During the 1970's and early 1980's, diamond drilling conducted independently by the Duval Corporation and Union Carbide Corporation resulted in the identification of three principal resource areas.
Reports addressing the occurrence of tungsten mineralization and estimates of Project W resources have been prepared by the Duval Corporation, Union Carbide Corporation and independent consultants including Kaiser Engineers, Inc. and David S. Robertson and Associates. Pilot Mountain Resources Inc. has access to these reports through its agreement with Platoro West"

"In the three principal resource areas currently identified,

• a resource of 8,299,000 tons averaging 0.33% WO(3) was calculated for the Desert Scheelite occurrence,

• a resource of 427,200 tons averaging 0.42% WO(3) was calculated for the Gunmetal occurrence,

• and a resource of 1,562,800 tons averaging 0.37% WO(3) was calculated for the Garnet occurrence.

http://www.pacificgoldcorp.com/news050819.html