Golden Patriot, Corp. - Crews Initiate Down Hole Radiometric Survey
17 Janvier 2007 - 9:01AM
PR Newswire (US)
Trading Symbols: VANCOUVER, Jan. 17 /PRNewswire-FirstCall/ --
Golden Patriot, Corp. ("Golden Patriot") (OTCBB: GPTC) (Frankfurt
Stock Exchange: GPU: 784832-WKN)) is pleased to announce that it
has initiated the down-hole radiometric survey on the recently
completed 23 hole drill program. The survey will test these and 10
pre-existing open holes from a drill program conducted in the
1970's. Most of these pre-existing holes are open to depth and
cover an important anomalous area depicted by the MMI geochemical
survey performed in 2006. This survey should provide important
information and complement the MMI survey thus expanding the known
mineralization and aiding in the next Plan of Operations. The
equipment being used is an MGX2 portable digital logger model
#2PGA-2000 using a sodium iodide crystal 1.6 inches in diameter,
7/8" by 3" long measuring gamma radiation. The survey is expected
to take 7 to 10 days weather permitting. Bradley Rudman, president
of Golden Patriot stated, "It is great news that we are moving
forward with the next phase of exploration on the Lucky Boy
Prospect. The down hole probe will supply us with valuable
geological information without having to incur the costs of
drilling. Due to the positive MMI survey done in 2006, we feel that
testing these anomalous zones is a very important step to expanding
the known mineralization and developing the Plan of Operations for
the property with the goal of eventually putting the Lucky Boy
Uranium Prospect back into production." Drilling also suggests a
NE/SW trend to the mineralization which is open along strike.
Intercepts of interest included hole #2 returning 10 ft of (.12% )
2.4 lbs per ton U from a depth of 60 to 70 feet, hole #21 returning
5 ft of (.13%) 2.6 lbs per ton or 10ft of (.092%) 1.84 lbs per ton
U from a depth of 85 - 95 ft, and hole #9 yielding 5ft of (.12%)
2.4 pounds per ton from a depth of 150 - 155ft. Systematic sampling
of the adit, centered within the presently drill indicated zone of
mineralization, has defined a potential core area of higher grade
mineralization. Analysis with a portable, X-Ray fluorescence
analyzer (NITON) has returned readings ranging from (.42 % to .71%)
8.4 lbs per ton to 14.2 lbs per ton U. Readings taken from the back
of the adit and adjacent to a production stope returned extremely
anomalous readings and samples have been sent for verification
analysis. Historically, the Lucky Boy property has seen two periods
of production. In the early 1950's, 2,500 tons grading (.16%) 3.2
pounds per ton was shipped to a government buying station. During
the 1970's, and following delineation of two blocks of ore by
shallow air-track drilling, a .5 acre leach pad and complete
on-site, yellow cake recovery plant was put into production. Open
pit mining of material from near surface to a depth of about 25
feet, and grading between (.1 to .2%) 2 lbs per ton to 4 lbs per
ton U, is reported to have produced roughly 5,000 lbs of refined
yellow cake. During this time it was determined that torbernite, a
secondary uranium copper phosphate mineral developed along fracture
faces, was the dominant uranium mineral present. Recent drilling
and geologic interpretation strongly suggests that untested
mineralization shallows in depth along a northeasterly trend.
Planning is currently underway to test this high priority target.
Recent work has confirmed that at least 10 cased, air track holes
drilled in the 1970's are open and are within this new zone of
interest. Results of this work will help guide a second phase of
drilling consisting of close spaced core-drilling holes. With
respect to potential open pit mining, confirmation of relatively
shallow mineralization lying roughly parallel to slope would be
highly favorable. To receive timely updates and information on any
future developments as they occur please email us at . 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 Golden
Patriot, Corp. filings with the Securities and Exchange Commission,
and may be accessed through the SEC's web site at
http://www.sec.gov/. CONTACT: Brad Rudman, Tel: (516) 343-6990,
http://www.goldenpatriotcorp.com/ DATASOURCE: Golden Patriot Corp
CONTACT: Brad Rudman, Tel: (516) 343-6990,
http://www.goldenpatriotcorp.com/
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