Patriot Gold's Bruner Project Acquires 20 Acre Patented Mining Claim
09 Abril 2014 - 10:47AM
Marketwired
Patriot Gold's Bruner Project Acquires 20 Acre Patented Mining
Claim
LAS VEGAS, NEVADA--(Marketwired - Apr 9, 2014) - Patriot Gold
Corp. (OTCBB:PGOL) or ("Patriot Gold"), a developing gold and
silver exploration and production company, today announced that an
additional 20 acre patented mining claim has been acquired at its
Bruner gold project located in Nye County, Nevada.
The 20-acre Elk Lode patented claim complements and lies nearly
adjacent to the Company's patented and unpatented holdings at the
Bruner site. It was identified during a due diligence land search
and brings the total patented land position to approximately 500
acres.
Currently, the 2014 drilling program is underway and engineering
studies have commenced on portions of the Bruner site.
"The addition of the Elk Lode claim will add flexibility to
future development plans for the Bruner project, which thus far has
delivered positive initial drilling and testing results," said Bob
Coale, CEO of Patriot Gold. "We are extremely pleased with the
progress being made to ensure rapid project development and look
forward to reporting on testing results from some of the 2014
drilling program in the near future."
The Bruner
Project
The Bruner Project is situated in central Nevada, 15 miles north
of the Paradise Peak mine, 45 miles northwest of Round Mountain and
25 miles east of the Rawhide mine. Historic production from the
Bruner property included about 100,000 ounces at an average grade
of 0.56 opt gold.
Patriot Gold´s Option
To Optionee/Operator
Patriot Gold owns 100% undivided rights, title and interest in
the project 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 70% interest in the Bruner project by
spending $6 million over seven years and may earn an additional 5%
by completing a bankable feasibility study for a total of 75%
interest in 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 two projects 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 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
702-456-9565invest@patriotgoldcorp.comwww.patriotgoldcorp.com
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