LAS VEGAS, May 21, 2012 /PRNewswire/ -- Patriot Gold Corp.
(OTC: PGOL), a gold resource and exploration company, today
announced successful results from drilling core holes 18 through 23
as the final part of its Phase 2 infill drill and resource
expansion program to test the western extension of the Moss
Gold-Silver Project.
Phase 1 and 2 drilling is being conducted by Patriot Gold's
project partner, Northern Vertex (TSX.V:NEE), a Canadian-based gold
exploration and development company. To date, the company has
completed a total of 41 holes of its current Phase 2 expansion
program. Results have now been reported for all Phase 2 drilling:
18 RC (reverse circulation) drill holes and 23 diamond drill (core)
holes.
"We are very pleased to report that Phase 2 drill results have
further extended mineralization on the western extension at Moss
with overall results further confirming that the western extension
contains remarkably uniform gold and silver distribution over
substantial widths," said Dr. Bob
Thompson, Chief Geologist of Northern Vertex. "The
gold/silver mineralized structure now spans 6,000 ft on strike,
remaining open to the West, East and at depth. High-grade feeder
veins were intersected to the south and are believed to be
associated with historic mining activity dating back to the early
1900's. We continue to encounter multi-meter, 1+ gpt Gold Eqv
intervals and multi-gram hot spots, contained within 40+meter
intersections, running well above internal cut-off grades. It is
this type of consistent mineralization that will undoubtedly play a
vital role in boosting the overall size and tonnage of the
contained Gold-Silver resource at Moss, as we continue our
expansion west of our current NI 43-101 Gold-Silver resource."
"The consistency of the results we have seen throughout the
duration of the multiple phases of drilling gives us great
confidence in the production potential of the Moss site," said
Bob Coale, CEO of Patriot Gold. "Now
that all Phase 2 results have been reported, we look forward to
considering a production decision and plan in the near-term."
Drill hole results are provided below:
|
Hole
ID
|
Interval
|
Grade
AuEq
|
From
|
To
|
Au
|
Ag
|
|
(m)
|
(gpt)*
|
(m)
|
(m)
|
(gpt)*
|
(gpt)*
|
|
AR-141C
|
42.06
|
0.71
|
0
|
42.06
|
0.65
|
2.2
|
|
9.14
|
1.42
|
2.44
|
11.58
|
1.35
|
2.9
|
|
52.27
|
0.57
|
62.94
|
115.21
|
0.44
|
5.0
|
|
1.52
|
2.67
|
87.78
|
89.31
|
2.46
|
8.3
|
|
AR-144C
|
17.07
|
1.03
|
0
|
17.07
|
0.91
|
4.9
|
|
1.37
|
5.09
|
2.44
|
3.81
|
4.45
|
25.3
|
|
43.28
|
0.68
|
35.36
|
78.64
|
0.55
|
5.1
|
|
0.76
|
0.99
|
151.18
|
151.94
|
0.66
|
13.2
|
|
AR-146C
|
12.19
|
0.39
|
7.32
|
19.51
|
0.32
|
3.0
|
|
1.52
|
2.05
|
53.04
|
54.56
|
2.03
|
0.8
|
|
AR-150C
|
13.56
|
0.39
|
93.12
|
106.68
|
0.23
|
6.5
|
|
43.89
|
0.42
|
126.49
|
170.38
|
0.33
|
3.8
|
|
35.36
|
0.57
|
178.00
|
213.36
|
0.44
|
5.2
|
|
AR-155C
|
15.54
|
0.37
|
15.85
|
31.39
|
0.29
|
3.0
|
|
AR-159C
|
9.14
|
1.02
|
0
|
9.14
|
0.44
|
23.5
|
|
1.52
|
3.11
|
0
|
1.52
|
0.56
|
101.9
|
|
30.18
|
0.39
|
21.34
|
51.51
|
0.27
|
4.9
|
|
15.54
|
1.04
|
74.37
|
89.92
|
0.71
|
13.2
|
* AuEq (gpt) = Au (gpt) + 1/40th Ag
(gpt)
*gpt = grams / metric tonne
The Moss Mine Project is situated in the historic Oatman Mining
district in northwestern Arizona.
Since announcing the joint venture project with Northern Vertex in
March 2011, the project has completed
93 drill holes through reverse circulation, diamond drill and
coring techniques. The Moss deposit is a low-sulfidation
epithermal stockwork deposit with a strike length in excess of one
mile.
The geological disclosure in this press release has been
reviewed and verified by Northern Vertex's Chief Geologist, Dr.
Bob Thompson, PhD P.Eng.(a qualified
person for the purpose of National Instrument 43-101, Standards of
Disclosure for Mineral Projects).
All analyses were performed by Inspectorate America,
Reno, using industry standard
protocols. For full QC/QA procedures, please visit
www.northernvertex.com/QCQA.html
Source: http://www.northernvertex.com/
About Patriot Gold
Patriot Gold Corp. is a resource exploration company with the
mission to discover and develop significant gold assets.
Headquartered in Las Vegas,
Nevada, Patriot Gold currently holds a portfolio of three
projects in Nevada and
Arizona at varying stages of
development from grassroots to advanced exploration. For more
information, go to our website at www.patriotgoldcorp.com.
Disclaimer: This announcement may contain forward-looking
statements which involve risks and uncertainties that include,
among others, limited operating history, limited access to
operating capital, factors detailed in the accuracy of geological
and geophysical results including drilling and assay reports; the
ability to close the acquisition of mineral exploration properties,
and other factors which may cause the actual results, performance
or achievements of the company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. More information is included in
the company's filings with the Securities and Exchange Commission,
and may be accessed through the SEC's web site at
http://www.sec.gov.
Investors:
Patriot Gold
702-456-9565
SOURCE Patriot Gold Corp.