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:
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
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.