LAS VEGAS, July 24, 2012 /PRNewswire/ -- Patriot Gold Corp.
(OTC: PGOL), a gold resource and exploration company, today
announced additional assay results from channel samples taken
underground near the vicinity of the Allen Shaft at its Moss
Gold-Silver project located in northwestern Arizona.
The underground sampling is being conducted by Patriot Gold's
project partner, Northern Vertex (TSX.V:NEE), a Canadian-based gold
exploration and development company. Channel samples were taken at
five foot intervals across the roof of drifts and cross-cuts on the
-60 level.
"We are very pleased with current results from channel sampling
at Moss," said Dr. Bob Thompson,
Chief Geologist of Northern Vertex. "Assays continue to demonstrate
excellent continuity of mineralization both along and across the
Moss Gold-Silver structure. The consistent 1.5+ gpt gold equivalent
grades returned further demonstrate the remarkable uniformity of
the Moss stockwork vein Gold-Silver system both on strike and at
depth. Establishing continuity of grades along tunnels (drifts) and
sub-drifts will play an important factor in future mine planning
and development."
"We continue to see strong results from our underground sampling
and remain confident in the success of this project and look
forward to an updated resource calculation. The Moss project
continues to deliver more positive results as we near a production
decision," said Karl Boltz, Patriot
Gold Vice President of Business Development.
Underground sampling results are provided below:
|
Underground Sampling Area
|
Interval
|
Grade
AuEq
|
From
|
To
|
Au
|
Ag
|
|
(m)
|
(gpt)
|
(m)
|
(m)
|
(gpt)
|
(gpt)
|
|
South
X-Cut off Main Drift Sta 30' W
|
6.10
|
1.98
|
1.52
|
7.62
|
1.83
|
6.4
|
|
North
X-Cut off Main Drift Sta 40' W
|
13.72
|
1.92
|
1.52
|
15.24
|
1.64
|
11.2
|
|
4.57
|
2.51
|
1.52
|
6.10
|
2.28
|
9.0
|
|
1.52
|
6.03
|
9.14
|
10.67
|
5.29
|
29.4
|
|
North
X-Cut off Main Drift Sta 60' W
|
7.62
|
1.28
|
1.52
|
9.14
|
0.98
|
12.1
|
|
North
X-Cut off Main Drift Sta 150' W
|
12.19
|
1.73
|
1.52
|
13.72
|
1.49
|
9.5
|
|
1.52
|
4.43
|
6.10
|
7.62
|
3.69
|
29.7
|
|
North
X-Cut off Main Drift Sta 200' W
|
1.52
|
2.14
|
9.14
|
10.67
|
1.88
|
10.3
|
|
Sub-Drift
East from Office X-Cut at Sta 260' N
|
4.57
|
2.79
|
1.52
|
6.10
|
2.40
|
15.5
|
|
Sub-Drift
East from Office X-Cut at Sta 275' N
|
3.05
|
1.39
|
1.52
|
4.57
|
1.24
|
6.0
|
* 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 with Northern Vertex in
March 2011, the project has completed
93 drill holes through reverse circulation, diamond drill coring
techniques and underground sampling at three sites. 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 in
Reno, Nevada, using industry
standard protocols. For full QA/QC procedures, please visit
http://www.northernvertex.com/
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, please visit 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.