LAS VEGAS, Feb. 28, 2012 /PRNewswire/ -- Patriot Gold Corp.
(OTC: PGOL), a gold resource and exploration company, today
announced Phase 2 results from the first 18 holes of its planned
20,000 foot (6,500 meter) in-fill drill and resource expansion
program on the Moss Gold-Silver Project. The results of one hole
(AR124) showed 1.45 gpt gold eqv (1.13 g/t Au,12.8 g/t Ag)
over 24.38 meters.
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.
"We are pleased to report all five of the Phase 2 infill holes,
AR124, 125, 127, 128 and 133, designed to convert resources from
the inferred to the indicated category, were successful, with each
hole intersecting 24+ meter widths of mineralized material," said
Dr. Bob Thompson, Chief Geologist of
Northern Vertex. "The significant intersections returned from Phase
2 drilling are consistent with results from our Phase 1 drill
program. Importantly, they demonstrate the consistent internal
distribution of gold we've come to expect from the Moss gold-silver
system. We are very optimistic heading into this next phase of
drilling, based on results from the one RC (reverse circulation)
drill hole (AR-132) that we were able to drill into a considerably
steeper part of Moss's terrain, which returned mineralization from
nearly top to bottom, over a total of 84 meters."
"We are excited about the results from the first part of the
Phase 2 Drill Development Plan, and remain confident in our belief
that the Moss project site will become a substantial, near-term
gold-silver producer," said Bob
Coale, CEO of Patriot Gold. "We look forward to the
results of the second part of this program, currently underway,
designed to test the western extension of the mineralized
zone. Our partnership with Northern Vertex has proven to be
fruitful and we look forward to seeing positive results as we move
into the second stage of drilling for Phase 2."
Highlights From Phase II Drilling
Hole AR 121: 0.51+ gpt Gold Eqv
over 84+ meters including 2.13 gpt Gold Eqv over 7.6 m
Hole AR 123: 0.52+ gpt Gold Eqv
over 22+ meters including 0.89 gpt Gold Eqv over 6.1 m
Hole AR 124: 1.45+ gpt Gold Eqv
over 24+ meters including 2.27 gpt Gold Eqv over 13.7 m
Hole AR 128: 0.75+ gpt Gold Eqv
over 57+ meters including 1.46 gpt Gold Eqv over 15.2 m
Hole AR 136: 19.39 gpt Gold Eqv over
1.52 meters
Data for holes providing results are provided below:
|
Hole
ID
|
Interval (Intvl)
|
Grade
*AuEq
|
From
|
To
|
Au
|
Ag
|
|
(m)
|
(gpt)
|
(m)
|
(m)
|
(gpt)
|
(gpt)
|
|
AR-120
|
1.52
|
1.09
|
45.72
|
47.24
|
1.08
|
0.3
|
|
AR-120
|
3.05
|
1.33
|
57.91
|
60.96
|
1.31
|
0.6
|
|
AR-121
|
30.48
|
0.94
|
135.64
|
166.12
|
0.77
|
7.1
|
|
incl.
|
7.62
|
2.13
|
135.64
|
143.26
|
1.75
|
15.2
|
|
AR-121
|
39.62
|
0.58
|
178.31
|
217.93
|
0.34
|
9.6
|
|
incl.
|
7.62
|
1.05
|
193.55
|
201.17
|
0.58
|
18.9
|
|
AR-121
|
15.24
|
0.51
|
224.03
|
239.27
|
0.38
|
5.1
|
|
AR-122
|
38.1
|
0.38
|
140.21
|
178.31
|
0.29
|
3.5
|
|
AR-122
|
38.1
|
0.44
|
184.4
|
222.5
|
0.28
|
6.4
|
|
incl.
|
7.63
|
0.78
|
205.74
|
213.37
|
0.43
|
13.9
|
|
AR-123
|
16.76
|
0.52
|
152.4
|
169.16
|
0.45
|
2.9
|
|
AR-123
|
6.1
|
0.89
|
178.31
|
184.4
|
0.78
|
4.4
|
|
AR-124
|
1.52
|
0.86
|
38.1
|
39.62
|
0.83
|
1
|
|
AR-124
|
24.38
|
1.45
|
60.96
|
85.34
|
1.13
|
12.8
|
|
incl.
|
13.72
|
2.27
|
67.06
|
80.77
|
1.79
|
18.9
|
|
and
|
4.57
|
3.82
|
73.15
|
77.72
|
3.25
|
22.8
|
|
AR-125
|
25.91
|
0.81
|
79.25
|
105.16
|
0.55
|
10.4
|
|
incl.
|
4.57
|
1.66
|
91.44
|
96.01
|
0.88
|
31
|
|
AR-126
|
18.29
|
0.46
|
53.34
|
71.63
|
0.37
|
3.7
|
|
AR-127
|
7.62
|
0.43
|
89.92
|
97.54
|
0.33
|
3.9
|
|
AR-127
|
27.43
|
0.81
|
114.3
|
141.73
|
0.62
|
7.6
|
|
incl.
|
6.1
|
1.49
|
131.06
|
137.16
|
1.16
|
13.4
|
|
AR-128
|
57.91
|
0.75
|
94.49
|
152.4
|
0.59
|
6.4
|
|
incl.
|
15.24
|
1.46
|
131.06
|
146.3
|
1.24
|
8.8
|
|
AR-129
|
24.38
|
0.42
|
19.81
|
44.2
|
0.35
|
3.1
|
|
AR-130
|
13.72
|
0.53
|
7.62
|
21.34
|
0.23
|
11.9
|
|
AR-130
|
21.34
|
0.51
|
25.91
|
47.24
|
0.32
|
7.5
|
|
AR-131
|
24.38
|
0.39
|
6.1
|
30.48
|
0.29
|
4.3
|
|
AR-131
|
19.81
|
0.41
|
45.72
|
65.53
|
0.29
|
4.7
|
|
AR-131
|
16.76
|
0.36
|
71.63
|
88.39
|
0.2
|
6.3
|
|
AR-131
|
6.1
|
0.77
|
91.44
|
97.54
|
0.68
|
3.6
|
|
AR-132
|
44.2
|
0.53
|
0
|
44.2
|
0.36
|
7
|
|
AR-132
|
24.38
|
0.56
|
53.34
|
77.72
|
0.36
|
8.1
|
|
AR-132
|
15.24
|
0.38
|
79.25
|
94.49
|
0.22
|
6.5
|
|
AR-133
|
18.29
|
0.38
|
102.11
|
120.4
|
0.3
|
3.5
|
|
AR-133
|
22.86
|
0.91
|
126.49
|
149.35
|
0.74
|
6.8
|
|
incl.
|
3.05
|
3.1
|
146.3
|
149.35
|
2.36
|
29.7
|
|
AR-134
|
NSR
|
|
|
|
|
|
|
AR-135
|
NSR
|
|
|
|
|
|
|
AR-136
|
1.52
|
19.39
|
45.72
|
47.24
|
17.71
|
67
|
|
AR-136
|
1.52
|
0.88
|
64.01
|
65.53
|
0.87
|
0.3
|
|
AR-137
|
NSR
|
|
|
|
|
|
|
AR-138
|
1.52
|
2.71
|
42.67
|
44.2
|
1.64
|
42.5
|
|
AR-138
|
7.62
|
0.41
|
50.29
|
57.91
|
0.28
|
5.1
|
* AuEq (gpt) = Au (gpt) + 1/40th Ag (gpt)
* opt = troy ounces / short
ton
* gpt = grams / metric tonne
* Assumes 100% metallurgical recovery
* NSR = no significant results
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
77 drill holes through reverse circulation and coring
techniques. The Moss deposit is a low-sulfidation epithermal
stockwork deposit with a strike length in excess of one mile.
Source:
http://www.northernvertex.com/extras/NR_Feb-27-2012.pdf
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.