LAS VEGAS, May 3, 2012 /PRNewswire/ -- Patriot Gold Corp.
(OTC: PGOL), a gold resource and exploration company, today
announced successful results from drilling core holes 11 through 17
as part of its Phase 2 infill drill and resource expansion
program.
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 35 holes of its current Phase 2 expansion
program. Included in the total are 18 RC (reverse
circulation) drill holes and 17 diamond drill (core) holes.
Results from six remaining holes are expected in the near
future.
"We are very pleased with current results that demonstrate the
gold and silver-bearing epithermal system continues to broaden
westward, extending an additional 1000 feet from our existing
43-101 gold resource," said Dr. Bob
Thompson, Chief Geologist of Northern Vertex. "Equally
encouraging, the higher-grade zones encountered, occur within a
series of thick mineralized intersections that continue to average
above internal cut-off grades, remaining open to the west and at
depth. As we continue our resource expansion to the west, we are
encountering the same type of higher-grade zones and consistent
internal gold distribution that was instrumental in developing our
initial 43-101 gold resource."
"The latest results further increase our confidence as we make
progress toward a production decision for the Moss site," said
Bob Coale, CEO of Patriot
Gold. "The continued robust results we see in the Western
extension further our belief in the viability of the Moss site's
production potential."
Drill hole results are provided below:
|
Hole
ID
|
Interval (Intvl)
|
Grade
AuEq
|
From
|
To
|
Au
|
Ag
|
|
(m)
|
(gpt)
|
(m)
|
(m)
|
(gpt)
|
(gpt)
|
|
AR-140C
|
1.52
|
1.44
|
14.94
|
16.46
|
1.43
|
.4
|
|
39.47
|
0.4
|
31.85
|
71.32
|
.3
|
4.1
|
|
1.52
|
0.44
|
83.52
|
85.04
|
.36
|
3.3
|
|
50.29
|
0.89
|
89.61
|
139.9
|
0.48
|
16.3
|
|
20.12
|
1.67
|
93.88
|
114
|
0.85
|
33
|
|
10.67
|
0.43
|
150.57
|
161.24
|
0.35
|
3.4
|
|
AR-148C
|
1.22
|
0.37
|
7.62
|
8.84
|
0.34
|
1.2
|
|
3.11
|
0.53
|
17.62
|
20.73
|
0.37
|
6.4
|
|
1.52
|
1.08
|
28.35
|
29.87
|
1.05
|
1.2
|
|
1.52
|
0.33
|
55.78
|
57.3
|
0.16
|
6.8
|
|
18.14
|
0.82
|
65.07
|
83.21
|
0.7
|
4.5
|
|
13.56
|
0.97
|
65.07
|
78.64
|
0.85
|
4.9
|
|
15.24
|
0.54
|
93.88
|
109.12
|
0.33
|
8.2
|
|
1.22
|
0.32
|
115.52
|
116.74
|
0.25
|
3
|
|
1.62
|
0.33
|
119.94
|
121.55
|
0.26
|
2.9
|
|
4.57
|
1.56
|
122.83
|
127.41
|
1.23
|
13.1
|
|
5.94
|
0.32
|
141.28
|
147.22
|
0.31
|
0.4
|
|
AR-153C
|
2.29
|
0.33
|
26.21
|
28.5
|
0.29
|
1.5
|
|
3.35
|
0.37
|
43.89
|
47.24
|
0.34
|
1.3
|
|
1.52
|
0.62
|
86.26
|
87.78
|
0.53
|
3.9
|
|
3.05
|
0.45
|
104.55
|
107.59
|
0.41
|
1.5
|
|
3.05
|
0.6
|
149.96
|
153.01
|
.44
|
6.4
|
|
1.52
|
0.42
|
162.46
|
163.98
|
0.3
|
5
|
|
AR-157C
|
24.38
|
0.39
|
6.1
|
30.48
|
.3
|
3.7
|
|
AR-158C
|
12.8
|
0.67
|
3.05
|
15.85
|
0.57
|
4.1
|
|
1.22
|
2.24
|
10.67
|
11.89
|
2.22
|
0.8
|
|
AR-160C
|
19.2
|
0.43
|
0
|
19.2
|
0.28
|
6.1
|
|
1.52
|
0.46
|
28.35
|
29.87
|
0.33
|
5.2
|
|
AR-161C
|
1.52
|
0.41
|
25.3
|
26.82
|
0.39
|
0.8
|
|
12.19
|
0.57
|
61.87
|
74.07
|
0.54
|
1.2
|
|
2.74
|
1.47
|
63.4
|
66.14
|
1.44
|
1.4
|
|
0.76
|
0.35
|
114.45
|
115.21
|
0.31
|
1.3
|
* 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
87 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.
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.
