LAS VEGAS, March 29, 2012 /PRNewswire/ -- Patriot Gold
Corp. (OTC: PGOL), a gold resource and exploration company,
today announced results from the first four diamond drill
holes as part of its Phase 2 infill drill and resource expansion
program.
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 22 holes of its current Phase 2 expansion
program. In February, the company reported strong results
from the 18 reverse circulation holes completed during the first
part of Phase 2.
"We are very pleased with results from the first 4 core holes
from our Phase 2 program at Moss," said Dr. Bob Thompson, Chief Geologist of Northern
Vertex. "Significantly, the positive gold-silver grades and
intervals encountered in all 4 holes average substantially above
internal cut-off grades, in an area where little or no stripping is
required. These factors indicate potential to add significant
tonnage to Moss's already established NI 43-101 gold-silver
resource. Moreover, we are equally encouraged to report results
demonstrate the gold and silver-bearing system is widening to the
West."
"Combined with the results we reported in February, the results
from our first four diamond drill holes serve to further enhance
our belief that the Moss project site will become a substantial,
near-term gold-silver producer," said Bob
Coale, CEO of Patriot Gold. "We are very pleased with
the work done by our partner, Northern Vertex, and look forward to
continued progress as we continue to execute on Phase 2 of our Moss
program."
Drill hole results are provided below:
|
Hole
ID
|
Interval
(Intvl)
|
Grade
AuEq
|
From
|
To
|
Au
|
Ag
|
|
(m)
|
(gpt)
|
(m)
|
(m)
|
(gpt)
|
(gpt)
|
|
AR-139C
|
45.02
|
0.45
|
16.76
|
61.78
|
0.38
|
2.7
|
|
|
6.61
|
0.38
|
82.08
|
88.7
|
0.25
|
5.6
|
|
|
10
|
0.58
|
96.01
|
106.01
|
0.41
|
6.8
|
|
|
24.38
|
0.47
|
114.3
|
138.68
|
0.33
|
5.8
|
|
|
12.34
|
0.57
|
147.98
|
160.33
|
0.42
|
6.1
|
|
AR-142C
|
89
|
0.83
|
0
|
89
|
0.62
|
8.2
|
|
|
5.64
|
4.04
|
2.9
|
8.53
|
2.84
|
47.9
|
|
|
9.14
|
1.01
|
55.78
|
64.92
|
0.9
|
4.2
|
|
|
1.52
|
4.96
|
75.59
|
77.11
|
3.86
|
43.9
|
|
AR-145C
|
1.52
|
0.51
|
0
|
1.52
|
0.29
|
8.6
|
|
|
29.57
|
1.08
|
4.57
|
34.14
|
0.84
|
9.5
|
|
|
3.47
|
3.61
|
22.74
|
26.21
|
3.05
|
22.7
|
|
|
3.05
|
0.4
|
44.2
|
47.24
|
0.31
|
3.5
|
|
|
3.05
|
0.37
|
52.88
|
55.93
|
0.31
|
2.1
|
|
|
1.95
|
0.69
|
70.1
|
72.05
|
0.59
|
3.7
|
|
|
4.57
|
0.57
|
77.72
|
82.3
|
0.47
|
4.2
|
|
|
1.83
|
0.39
|
88.39
|
90.22
|
0.24
|
5.8
|
|
|
1.52
|
0.63
|
115.82
|
117.35
|
0.62
|
0.4
|
|
|
4.57
|
0.46
|
153.92
|
158.5
|
0.37
|
3.5
|
|
AR-147C
|
20.57
|
0.64
|
0
|
20.57
|
.52
|
4.8
|
|
|
7.62
|
1.02
|
5.49
|
13.11
|
0.86
|
6.7
|
|
|
1.52
|
0.36
|
26.52
|
28.04
|
0.34
|
0.6
|
|
* 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
81 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.
All analyses were performed by Inspectorate America,
Reno, using industry standard
protocols. For full QC/QA procedures, please visit
www.northervertex.com/QCQA.html
Source:
http://www.northernvertex.com/extras/NR_Mar-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.