Folks, It is only by coincidence that I happened to be in Goa recently...... Mervyn1430Lobo -------------------------------------------------------------------------------------------------
PEBBLE CREEK MINING LTD. FILES RECONNAISSANCE PERMIT APPLICATIONS FOR NEWLY DISCOVERED GOLD PROSPECT IN GOA AND MAHARASHTRA STATES, INDIA TSX-V: PEB NEW WESTMINSTER, BC and New Delhi, India, March 1 /CNW/ - Pebble Creek Mining Ltd. (TSX-V: PEB) ("the Company") has filed two contiguous Reconnaissance Permit (RP) applications for gold and related minerals on 165 square kilometres in Bardez and Pernem Districts, northern Goa state and 665 square kilometres in Sindhudurg District in adjacent Maharashtra state along the west coast of India (collectively, the "Goa-Maharashtra Project"). The Goa-Maharashtra RP filing was an opportunity that arose from the Company's policy of utilizing its Indian infrastructure to acquire a pipeline of attractive prospects. A detailed work program will be designed once one of the RPs is granted. Advancement of the Company's Askot massive sulphide property in Uttarakhand state remains the Company's primary objective. The new RP applications will likely fall under a revamped Mines and Minerals (Development and Regulation) Act that is pending adoption by India's Parliament to replace the 1957 Act of the same name. The new Act is based on the Hoda Committee report and has been 6 years in the making. If passed, it will compel the Indian states to award RPs and other classes of mineral tenures in a time-bound manner rather than the current practice where the timeliness of receipt of mineral tenure grants is uncertain. The new prospective gold area was discovered by microbiologist Dr. Nandkumar M. Kamat, of Goa University's Botany Department. In a press briefing Dr. Kamat described how his team examined gold particles in laterites distributed at various levels in the Sanvordem formation in northern Goa. Laterites are decomposed and leached mineral soils in various stages of induration; they are red-brown in colour and enriched in alumina, iron and sometimes nickel. The Sanvordem formation covers about 1,000 square kilometres in Goa and continues outside Dr. Kamat's study area into neighbouring Maharashta. Dr. Kamat's briefing was published by "Nature Proceedings" on January 4, 2011. Dr. Kamat's work was conducted for scientific purposes, to demonstrate that bacterial action over a long period of time contributed to secondary recrystallization of existing microscopic detrital or residual gold particles in a 60-metre thickness of Sanvordem sedimentary units that overlie a Precambrian basement assemblage. Partial recrystallization of placer gold particles in proximity to sea water has been known for many years and is often attributed to reworking by chloride ions. Although Dr. Kamat's work is a true pioneering study, he is not a Qualified Person within the meaning of National Instrument 43-101 ("NI 43-101") and the Company cautions that it is not aware of any Qualified Person or geologist who has reviewed or verified Dr. Kamat's work or conducted any analysis of the gold potential of the Sanvordem formation. Accordingly, the reference to Dr. Kamat's study in this news release is solely for informational purposes only. There has been insufficient exploration to define a mineral resource on the Goa-Maharashtra Project and it is uncertain if exploration will result in the delineation of a mineral resource. The Company's land status research revealed no seriously conflicting mineral tenures or applications in the applied areas, however, the Company cautions that state records are not always up to date and prior claimants may have senior rights within the selected areas. This news release contains forward-looking statements that address future events and conditions and are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the application of laws and regulations where the Company's operations are situated, the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in commodity prices; currency fluctuations; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. http://www.newswire.ca/en/releases/archive/March2011/01/c6205.html