Pacific Gold Corp., through its subsidiaries, engages in the identification, acquisition, exploration, and mining of mineral properties, primarily alluvial gold and base metals in western North America. The company owns and operates the Black Rock Canyon gold mine located in north-central Nevada, and owns the Project W, a tungsten based deposit, which includes 30 unpatented mining claims covering 600 acres in Mineral County, Nevada. It also holds the lease rights to mine 36 claims covering 640 acres of the Lower Olinghouse Placers located east of Reno, Nevada primarily for gold, and 24 unpatented lode mining claims in San Juan and Dolores counties, Colorado, primarily for vanadium and uranium ores.
Nevada Rae Gold, Inc. ("NRG") owns and operates the Black Rock Canyon Mine. The property consists of alluvial/placer gold deposits within three main drainages; Black Rock Canyon, Mud Springs Gulch and Tub Springs Gulch. These deposits are typically 100 to 300 feet wide and can reach depths of up to 90 feet. The drainages flow in an easterly direction and the thickness of gravel is shown to become progressively greater to the east, where the alluvial/sedimentary material was identified as being in excess of 500 feet thick at the mill site.
Fernley Gold Inc. , a subsidiary of Pacific Gold Corp., entered into a lease agreement in 2004 for the right to mine 36 claims covering 640 acres of the Lower Olinghouse Placers. The claims are known as Butcher Boy and Teddy, and are located approximately 34 miles east of Reno, Nevada just off Interstate 80. From historical reports, the Butcher Boy and Teddy Claims contain up to an estimated 445,000 ounces of gold in up to an estimated 30,000,000 cubic yards of alluvial gravels. The average estimated grade is 0.4 grams per cubic yard.
In February 2011, Pilot Mountain Resources Inc. optioned Project W to Pacific Metals, a subsidiary of Black Fire Minerals. Pilot Mountain Resources Inc., a wholly-owned subsidiary of Pacific Gold Corp., owns 45 unpatented mining claims covering approximately 900 acres in Mineral County, Nevada, approximately 168 miles from Reno, Nevada, and about 21 miles east of the town of Mina.
Pacific Metals Corporation owns 24 unpatented lode mining claims in San Juan and Dolores Counties, Colorado immediately southeast of Bolam Pass. The claims are located at an elevation of 11,000 feet above mean sea level and are accessible by a dirt road that is maintained during the summer months by the United States Forest Service. The property, which is referred to as the Graysill Property, encompasses the historic Graysill Mine, a past producer of vanadium and uranium ore. The Graysill Mine is known to have produced vanadium and by-product uranium during a period of approximately twenty years after World War II.