Patriot Gold Announces First Pour From Its Arizona Moss Gold Mine
13 Diciembre 2013 - 6:30AM
Marketwired
Patriot Gold Announces First Pour From Its Arizona Moss Gold Mine
LAS VEGAS, NEVADA--(Marketwired - Dec 13, 2013) - Patriot Gold
Corp. (OTCBB:PGOL), a developing gold and silver exploration and
production company, today announced that its first gold pour has
been processed from its Moss Mine project in Mojave County,
Arizona. To date, precious metal sales have weighed in at
US$365,826. This is based on 270.4 oz of gold and 588.6 oz of
silver recovered over recent months from the Pilot Plant's
operation at the Moss Mine. The precious metals were sold based on
the price of US$1326/oz Au and US22.30/oz Ag. There are further
shipments that are undergoing processing for which Patriot Gold is
awaiting value determination.
Patriot Gold's earn-in optionee partner has provided its most
recent technical update coming from the Moss Mine gold and silver
project in northwest Arizona, in which some very positive findings
were reported.
Construction of the Pilot Plant started in early May of this
year and was completed at the end of July. According to the PEA
(Preliminary Economic Assessment) for Phase I of the project,
91,000 metric tonnes (mt) of mineralized material was to be
extracted from the mine. Mining commenced at the beginning of June
2013 and a total of 90,199 mt have now been mined. Crushing,
screening, agglomerating, and conveying of the nearly 90,000 mt has
been undertaken. Leaching activities that began in mid-August 2013
will continue well into 2014.
Patriot's partner company has now gathered enough data from
processing to allow for optimization of the leach pad design which
allows for a potential increase in the permissible tonnage under
the present PEA guidelines for Phase I of the Pilot Plant.
Several shipments of gold-loaded carbon have already been sent
to a carbon stripping facility. "We are delighted to reach this
momentous milestone on our project, which has been fast tracked
through to production. We look forward to gathering pertinent data
over the next year to set the base for transition into Phase II
operations," states Patriot Gold President and CEO Bob Coale.
The Moss Mine
Project
The Moss Mine Project is located approximately seven miles due
east of Bullhead City, Arizona. Patriot Gold is the 100% owner of
the historic Moss Gold-Silver property located in Mohave County,
Arizona, which is subject to certain royalties and an earn-in
option agreement for 70% interest. The earn-in optionee/operator
has the right to earn a 70% interest in the project by completing
an $8.5 million investment over five years and preparing a bankable
feasibility study for the project. Subsequent to the
optionee/operator earn-in, financing of the project will be on a
proportional basis.
About Patriot
Gold
Patriot Gold Corp. is a precious metals exploration and
production company with the mission to discover and develop
significant gold and silver assets. Headquartered in Las Vegas,
Nevada, Patriot Gold currently holds a portfolio of three projects,
two of which are in Nevada (Bruner and Vernal) and its flagship
Moss project in Arizona, each at varying stages of development from
grassroots to advanced exploration and resource development. For
more information, go to our website at
http://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.
Patriot Gold Corp.Investor Relations+1
702-456-9565info@patriotgoldcorp.comwww.patriotgoldcorp.com
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