Patriot Gold's Moss Mine Phase I-Pilot Plant Operations Achieve Higher Than Expected Gold Recovery Rates
15 Avril 2014 - 11:30AM
Marketwired
Patriot Gold's Moss Mine Phase I-Pilot Plant Operations Achieve
Higher Than Expected Gold Recovery Rates
Gold Recovery Rates Are 80.51% on Cells 1-5
LAS VEGAS, NEVADA--(Marketwired - Apr 15, 2014) - Patriot Gold
Corp. (OTCBB:PGOL) or ("Patriot Gold"), a developing gold and
silver exploration and production company, today provided a more
detailed update on Phase I - Pilot Plant operations of the Moss
Gold-Silver project located in the historic and active Oatman
Mining District near Bullhead City, Arizona.
Phase I -- Pilot Plant:
Key Highlights (as of April 6, 2014) included:
- A total of 3,389 ounces of gold and 13,211 ounces of silver has
been recovered, processed and sold.
- Gold recovery rates on Cells 1-5 were 80.51% after an average
of 192 days, exceeding Preliminary Economic Assessment (PEA)
estimates.
- Gold recovery rates in Cells 6A and 6B were 55.87% after 96
days.
- Gold recovery in all cells is scheduled to continue through
mid-year.
- An additional 600 ounces of gold and 12,000 ounces of silver
are estimated to be recovered over the next several months.
"As gold recoveries continue to exceed PEA estimates during
Phase I of the Moss project, we are even more confident as we move
closer to the start of Phase II and our long-term goal of
commercial production," said Bob Coale, CEO of Patriot Gold. "This
is the first of a three phase project development plan surrounding
the Moss project and we are extremely pleased with what's been
accomplished. Through careful plan execution, diligent testing and
leaching operations, we have minimized risks associated with the
Moss project, and at the same time, positioned Patriot Gold to
deliver enhanced value to our shareholders as we continue to make
progress at our flagship project site."
Phase I -- Pilot Plant:
Additional Metallurgical Findings
As of April 6, 2014, Cells 1-5 consisting of 81,630 tonnes of
mineralized material containing 3,656.7 ounces of gold and 36,912
ounces of silver were under continued leaching which showed
recovery rates of 80.51% with average leaching time of 192 days
(leaching times varied from 218 days for cell 1 to 163 days for
cell 5). Gold recovery attributed to cells 1-5 total 2,944.4 ounces
yielding a pre-completion recovery of 80.51% Au compared to PEA
based on 75% gold recovery after 9 months. Gold is still being
recovered from all 5 cells. Silver recoveries are at 38.72% as gold
is being preferentially absorbed onto the carbon resulting in high
silver recycling values in the leach solution.
Three different heap bench heights were tested with both the
physical and chemical results of the leach pad exceeding
expectations at the higher bench heights. In addition, the material
under leach in Cells 1-5 is considered reflective of mineralized
material to be crushed, agglomerated and leached going forward to
future phases of the project. Standard protocols for crushing were
exceeded while cement additions for agglomeration were met.
Cell 6A and 6B were first treated with leach solution on January
1, 2014. Consisting of 12,730 tonnes containing 702.6 ounces of
gold and 8,185 ounces of silver, Cells 6A and 6B showed gold
recovery rates of 55.87% with leaching times of 96 days. Although
gold recovery rates are slower than Cells 1-5, they remain in line
with laboratory expectations. Silver recoveries are 12.44%.
Furthermore, the material under leach in Cells 6A and 6B is from a
wider area of the Phase I pit and is being used to test recoveries
from varying crush sizes, further enhancing the contribution and
value of this phase towards the overall understanding of the
leachability of the Moss Mine mineralization as a whole. Different
operating and agglomeration protocols were also used.
Gold recovery in all cells is anticipated to continue until
mid-year.
Gold
Production
Gold dore produced to date total 3,389 ounces of gold and 13,211
ounces of silver that has been recovered, processed and sold. An
additional 600 ounces of gold and 12,000 ounces of silver are
expected to be recovered, processed and sold over the next several
months.
The Moss Mine Project
& Patriot Gold's Optionee/Operator, Northern Vertex
Corporation
The Moss Mine Project is located approximately seven miles due
east of Bullhead City, Arizona. Patriot Gold is the 100% owner in
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
(Northern Vertex Corp.) has the right to earn a 70% interest in the
project by completing an $8.5 million investment over five years
and a bankable feasibility study. Subsequent to the 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 www.sec.gov.
Patriot Gold Corp.Investor Relations+1
702-456-9565invest@patriotgoldcorp.comwww.patriotgoldcorp.com
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