Moss Gold-Silver Project Delivers Final Results For Completed Phase 2 Drilling Of Western Extension
--Results Include 17 Meters of 1.03 gpt Gold Eqv on Western Extension--
LAS VEGAS, May 21, 2012 /PRNewswire/ -- Patriot Gold Corp. (OTC: PGOL), a gold resource and exploration company, today announced successful results from drilling core holes 18 through 23 as the final part of its Phase 2 infill drill and resource expansion program to test the western extension of the Moss Gold-Silver Project.
Phase 1 and 2 drilling is being conducted by Patriot Gold's project partner, Northern Vertex (TSX.V:NEE), a Canadian-based gold exploration and development company. To date, the company has completed a total of 41 holes of its current Phase 2 expansion program. Results have now been reported for all Phase 2 drilling: 18 RC (reverse circulation) drill holes and 23 diamond drill (core) holes.
"We are very pleased to report that Phase 2 drill results have further extended mineralization on the western extension at Moss with overall results further confirming that the western extension contains remarkably uniform gold and silver distribution over substantial widths," said Dr. Bob Thompson, Chief Geologist of Northern Vertex. "The gold/silver mineralized structure now spans 6,000 ft on strike, remaining open to the West, East and at depth. High-grade feeder veins were intersected to the south and are believed to be associated with historic mining activity dating back to the early 1900's. We continue to encounter multi-meter, 1+ gpt Gold Eqv intervals and multi-gram hot spots, contained within 40+meter intersections, running well above internal cut-off grades. It is this type of consistent mineralization that will undoubtedly play a vital role in boosting the overall size and tonnage of the contained Gold-Silver resource at Moss, as we continue our expansion west of our current NI 43-101 Gold-Silver resource."
"The consistency of the results we have seen throughout the duration of the multiple phases of drilling gives us great confidence in the production potential of the Moss site," said Bob Coale, CEO of Patriot Gold. "Now that all Phase 2 results have been reported, we look forward to considering a production decision and plan in the near-term."
Drill hole results are provided below:
| Hole ID |
Interval |
Grade AuEq |
From |
To |
Au |
Ag |
| (m) |
(gpt)* |
(m) |
(m) |
(gpt)* |
(gpt)* |
|
| AR-141C |
42.06 |
0.71 |
0 |
42.06 |
0.65 |
2.2 |
| 9.14 |
1.42 |
2.44 |
11.58 |
1.35 |
2.9 |
|
| 52.27 |
0.57 |
62.94 |
115.21 |
0.44 |
5.0 |
|
| 1.52 |
2.67 |
87.78 |
89.31 |
2.46 |
8.3 |
|
| AR-144C |
17.07 |
1.03 |
0 |
17.07 |
0.91 |
4.9 |
| 1.37 |
5.09 |
2.44 |
3.81 |
4.45 |
25.3 |
|
| 43.28 |
0.68 |
35.36 |
78.64 |
0.55 |
5.1 |
|
| 0.76 |
0.99 |
151.18 |
151.94 |
0.66 |
13.2 |
|
| AR-146C |
12.19 |
0.39 |
7.32 |
19.51 |
0.32 |
3.0 |
| 1.52 |
2.05 |
53.04 |
54.56 |
2.03 |
0.8 |
|
| AR-150C |
13.56 |
0.39 |
93.12 |
106.68 |
0.23 |
6.5 |
| 43.89 |
0.42 |
126.49 |
170.38 |
0.33 |
3.8 |
|
| 35.36 |
0.57 |
178.00 |
213.36 |
0.44 |
5.2 |
|
| AR-155C |
15.54 |
0.37 |
15.85 |
31.39 |
0.29 |
3.0 |
| AR-159C |
9.14 |
1.02 |
0 |
9.14 |
0.44 |
23.5 |
| 1.52 |
3.11 |
0 |
1.52 |
0.56 |
101.9 |
|
| 30.18 |
0.39 |
21.34 |
51.51 |
0.27 |
4.9 |
|
| 15.54 |
1.04 |
74.37 |
89.92 |
0.71 |
13.2 |
* AuEq (gpt) = Au (gpt) + 1/40th Ag (gpt)
*gpt = grams / metric tonne
The Moss Mine Project is situated in the historic Oatman Mining district in northwestern Arizona. Since announcing the joint venture project with Northern Vertex in March 2011, the project has completed 93 drill holes through reverse circulation, diamond drill and coring techniques. The Moss deposit is a low-sulfidation epithermal stockwork deposit with a strike length in excess of one mile.
The geological disclosure in this press release has been reviewed and verified by Northern Vertex's Chief Geologist, Dr. Bob Thompson, PhD P.Eng.(a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).
All analyses were performed by Inspectorate America, Reno, using industry standard protocols. For full QC/QA procedures, please visit www.northernvertex.com/QCQA.html
Source: http://www.northernvertex.com/
About Patriot Gold
Patriot Gold Corp. is a resource exploration company with the mission to discover and develop significant gold assets. Headquartered in Las Vegas, Nevada, Patriot Gold currently holds a portfolio of three projects in Nevada and Arizona at varying stages of development from grassroots to advanced exploration. 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.
Investors:
Patriot Gold
702-456-9565
SOURCE Patriot Gold Corp.
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