Patriot Gold's Bruner Project Drilling Hits 6.1 Meters Grading 11.24 g/tonne Gold & 203.975 g/tonne Silver at Historic Resour...
12 Juin 2014 - 2:30PM
Marketwired
Patriot Gold's Bruner Project Drilling Hits 6.1 Meters Grading
11.24 g/tonne Gold and 203.975 g/tonne Silver at Historic Resource
Area
Reverse Circulation Drill Hole Results Indicate High-Grade
Portion of Mineralization
LAS VEGAS, NEVADA--(Marketwired - Jun 12, 2014) - Patriot Gold
Corp. (OTCBB:PGOL) or ("Patriot Gold"), a developing gold and
silver exploration and production company, today provided results
from core and reverse circulation (RC) drilling programs at its
Bruner gold project located in Nye County, Nevada.
Key
Highlights:
- Preliminary results from drill hole B-1412 include a 20 foot
(6.1 meters) intersection with estimated grades of 11.24 g/tonne of
gold (Au) and 203.975 g/tonne of silver (Ag).
- The intercept in drill hole B-1412 demonstrates continuity of a
high-grade portion within the main mineralized zone of the area
that appears to be more silver-rich than previously shown.
- Results from shallower drill hole sites also show promising
results, including five foot (1.5 meters) intersections at drill
holes B-1414 and B-1416 with estimated grades of 12.80 g/tonne Au
and 30.9 g/tonne Au, respectively.
- Results for drill holes demonstrate that there is a high-grade
interior zone within the historic resource area that is surrounded
by a lower grade halo. Current results support the Company's belief
that there are zones that have not been identified or adequately
tested by earlier historic drilling.
"Drilling results thus far at the Bruner historic resource area
continue to show remarkable progress towards uncovering high-grade
levels of mineralization and reinforce our confidence that our
investment in Bruner has the potential to deliver enhanced value to
our shareholders," said Bob Coale, CEO of Patriot Gold. "As we
continue to drill and test more portions of the historic resource
area, we will be able to further define the Bruner project site and
more accurately determine whether the historic average grade
assigned to the site needs to be updated."
Historic Resource
Area
Reverse circulation (RC) drill hole B-1412, drilled at the
historic resource area intersected 135 feet grading 0.06 oz/ton Au
and 1.56 oz/ton Ag (41.2 meters grading 2.078 g/tonne Au and 53.56
g/tonne Ag) from 130-265 feet (39.6-80.8 meters) depth, including
20 feet grading 0.328 oz/ton Au and 5.95 oz/ton Ag (6.1 meters
grading 11.24g/tonne Au and 203.975 g/tonne Ag) from 220-240 feet
(67.0-73.2 meters).
The intercept in drill hole B-1412 lies approximately 75 feet
from the intercept reported previously from drill hole B-1404C and
demonstrates continuity of a high-grade portion within the main
mineralized zone of the area. The intercept in B-1412 is
significantly more silver-rich than observed in previously
completed drill holes in this portion of the historic resource
area, and may be indicative of potential gold-silver zoning within
the deposit which have yet to be identified and quantified. The
true widths of these intercepts cannot be determined at this
time.
Mineralized intercepts in drill hole B-1412 are:
|
|
|
|
|
Hole ID |
From-To (ft) |
Thickness (ft/m) |
oz/ton Au/Ag |
g/tonne Au/Ag |
|
|
|
|
|
B-1412 |
40-60 |
20/6.1 |
0.134/4.47 |
4.596/153 |
|
130-265 |
135/41.2 |
0.061/1.56 |
2.078/53.56 |
Incl. |
220-240 |
20/6.1 |
0.328/5.95 |
11.24/203.975 |
|
330-335 |
5/1.5 |
0.142/1.15 |
4.885/39.5 |
|
|
|
|
|
Reverse circulation (RC) drill hole B-1413 was drilled above
drill hole B-1412, and intersected the mineralized zone
approximately 75 feet above the 220-240 feet intercept in hole
B-1412. Drill hole B-1413 intersected two zones totaling 90 feet
grading 0.015 oz/ton (27.4 meters grading 0.54 g/tonne) as reported
below:
|
|
|
|
|
Hole ID |
From-To (ft) |
Thickness (ft/m) |
Grade oz/ton Au |
Grade g/tonne Au |
|
|
|
|
|
B-1413 |
30-50 |
20/6.1 |
0.015 |
0.499 |
|
130-200 |
70/21.3 |
0.015 |
0.504 |
|
|
|
|
|
Reverse circulation drilling was completed recently at four
additional drill holes located in the same section but at shallower
depths. Results for RC drill holes B-1414, B-1415, B-1416 and
B-1417 are presented as follows:
|
|
|
|
|
Hole ID |
From-To (ft) |
Thickness (ft/m) |
Grade oz/ton Au |
Grade g/tonne Au |
|
|
|
|
|
B-1414 |
20-395 |
375/114.3 |
0.025 |
0.866 |
|
160-315 |
155/47.3 |
0.044 |
1.500 |
Incl |
240-245 |
5/1.5 |
0.373 |
12.80 |
B-1415 |
24-45 |
20/6.1 |
0.011 |
0.365 |
|
120-155 |
35/10.7 |
0.019 |
0.665 |
Incl |
170-205 |
35/10.7 |
0.013 |
0.452 |
B-1416 |
50-245 |
375/114.3 |
0.029 |
1.00 |
|
320-325 |
5/1.5 |
0.901 |
30.9 |
B-1417 |
35-45 |
10/3.0 |
0.050 |
1.72 |
|
115-130 |
15/4.5 |
0.040 |
1.36 |
Incl |
200-310 |
110/33.5 |
0.014 |
0.46 |
|
335-385 |
50/15.2 |
0.012 |
0.40 |
|
405-450 |
45/13.7 |
0.010 |
0.35 |
|
|
|
|
|
Together, the six drill hole intercepts have tested the southern
portion of the historic resource area. On the section containing
the B-1412 and B-1413 core holes, the main mineralized zone is
approximately 100 feet (30.5 meters) thick, 350 feet (106 meters)
wide, lying approximately 60 feet (18.3 meters) below the surface.
The section containing B-1414 and B-1415 core holes, the main
mineralized zone is approximately 150 feet (45.7 meters) wide, 350
feet (106 meters) thick and lies immediately below the surface. The
B-1416 and B-1417 core holes are in a main mineralized zone that is
approximately 210 feet (64 meters) wide, 350 feet (106 meters)
thick and lies immediately below the surface.
Lastly, core hole B-1408C intersected 70 feet grading 0.050
oz/ton Au (21.3 meters grading 1.698 g/tonne Au) from 47-117 feet
(14.3-35.7 meters). B-1408C was drilled beneath historic drill hole
BRU-094, which intersected 80 feet grading 0.038 oz/ton Au (24.4
meters at 1.31 g/tonne Au) from 5 to 85 feet (1.5-24.4 meters).
These two holes characterize the east mineralized zone which
remains largely untested both along strike and down dip of the
north-striking and steeply dipping mineralized structure.
Additional drilling of this shallow mineralized zone is in the
planning stages.
RC drilling is continuing on adjacent sections, targeting two
inclined holes per section. The results reported above demonstrate
that there are high-grade zones (cores or roots) within the
historic resource area that have not been identified or adequately
tested by historic drilling.
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.Investors702-456-9565www.patriotgoldcorp.com
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