Patriot Gold's Partner Commences Drilling at Bruner
08 Aprile 2014 - 9:23PM
Marketwired
Patriot Gold's Partner Commences Drilling at Bruner
53 Holes Scheduled for Drilling in 2014
LAS VEGAS, NEVADA--(Marketwired - Apr 8, 2014) - Patriot Gold
Corp. (OTCBB:PGOL) or ("Patriot Gold"), a developing gold and
silver exploration and production company, today announced that a
significant new drilling program has commenced at its Bruner gold
project located in Nye County, Nevada.
- Drilling program will consist of approximately 1000 meters
(3,280 feet) of core drilling and 9,000 meters (29,500 feet) of
reverse circulation (RC) drilling.
- Initial drilling will start in the feeder zone of the historic
resource area, near RC hole B-1340, which showed significant gold
mineralization levels between 260-450 feet in depth when tested at
the end of 2013.
- The plan calls for a total of 53 core and RC holes drilled in
both the historic resource and Penelas East discovery areas in
2014.
"Initial drilling and cyanidation results from 2013 samples have
increased our confidence in the potential for the Bruner site,"
said Bob Coale, CEO of Patriot Gold. "We are excited to have
drilling recommence on this project and look forward to making
additional progress in 2014 toward establishing a mineral resource
estimate. Combined with the continued progress we are seeing with
Patriot Gold's Moss Mine in Arizona, we continue to gain confidence
in our ability to deliver extraordinary value to our
shareholders."
2014 Historic Resource Area Drilling Plans
Core drilling in the historic resource area will start with an
offset of RC hole B-1340, which tested at 93%-97% gold extraction
levels after bottle roll cyanidation tests on hole composites were
performed in early 2014. A total of 5 core holes and 24 RC holes
are planned to test this high-grade feeder zone.
2014 Penelas East Discovery Area Drilling Plans
Drilling at the Penelas East discovery area will focus on
testing the prominent VLF-EM current density and coincident
gold-in-soil anomalies. A total of 24 holes are planned in the
Penelas East discovery area, which will expand the total number of
holes drilled in this area to 62.
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
702-456-9565info@patriotgoldcorp.comwww.patriotgoldcorp.com
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