The Company has received results from a lab sample that was collected when the Company previously had its Geologists perform a radiometric survey of the Company's claim area with handheld scintillation counters to establish readings to be added to the Company's current geologic maps of its claims.
In an area of no apparent previous mining a zone of very highly radioactive (31,000+cps) black sooty, carbonaceous rock was encountered. The material appears to be in a single horizon at or near the contact with overlying massive Entrada Sandstone that is in turn in contact with the overlying Pony Express Limestone. The entire highly radioactive zone is 3 feet thick with the highest cps (31,000) in the top 6 inches of the zone. A sample was collected of this zone.
The sample results came back from the lab as showing Uranium as U3O8 at 0.098% and Vanadium as V2O5 at 1.36%. These values would represent almost $300 per ton in resource value if the ores were recoverable at 75%.
The Company is making plans to begin preparation of an initial 43-101 report on the project.
About the Company
Pacific Metals Corp. owns mining claims in San Juan and Delores Counties, Colorado, encompassing the historic Graysill Mine, believed to contain substantial quantities of Vanadium and Uranium. The Company is an approximately 75% owned subsidiary of Pacific Gold Corp.
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 2013 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.