Pavilion Energy Resources Inc., California Iron Ore-Gold Mining Joint Venture

Pavillion Energy (PINK:PVRE) announced that they are seeking permission from the governor of  California to have access to a exploration-mining lease .

The press release is quoted as saying:

Geological models suggest that the lease application could contain a billion tons of high-grade iron-chromite-precious metals resources located in near-shore, easily accessed oceanic placers, with the lowest lifting costs of any iron ore.

 To access the full release, click here.