Patriot Gold Corp ("Patriot") announced that it has completed Phase I of a three-phase drilling exploration program at the Windy Peak Project in Churchill County, Nevada. The Phase I drilling program commenced in December 2019 and consisted of ten (10) drillholes dispersed throughout the Windy Flats North exploration target area, an area of known anomalous gold occurrence. Historic information indicates that mineralization in the Windy Flats North area is likely associated with a volcanic pipe or vent, as evidenced by volcanic breccia routinely encountered during drilling. This offers a reasonable, if tentative, conceptual deposit model on which to base drilling exploration plans at this time, given the limited amount of existing data and information.
Phase I was designed to determine the lateral extent of the mineralization at Windy Flats North by stepping out approximately 300 ft from closely spaced historic drilling results. Of the ten (10) holes drilled, eight (8) encountered gold intercepts greater than or equal to 10 feet with gold grades greater than 0.1 g/t. These intercepts may slightly exaggerate the true thickness of mineralization given the vertical orientation of the holes and moderate dip to the east of the mineralized zone.
Significant gold intercepts for Phase I are presented in Table 1. The highest gold grade encountered was 2.58 g/t in PG19-002 between 155 and 160 feet. No significant silver grades were encountered.
Drilling results at Windy Flats North suggest that the mineralization is open to the northeast along strike and down-dip, thins to the north and south, and is closed to the west by intersection with an erosional surface presently overlain by thick overburden. Patriot considers the historic drillhole results validated by the 2019 drilling, and interprets the 2019 drill results as a positive indication of potential mineralization at depth in the northeastern portion of the Windy Flats North target area.
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Disclaimer: This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release may include statements in relation to the timing, cost and other aspects of future plans, objectives or expectations of Patriot Gold Corp. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Patriot's plans include the risk that actual results of current and planned exploration activities will not be consistent with Patriot's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue Patriot's programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental requirements; timeliness of civil government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by Patriot with securities regulators. In connection with the forward-looking information contained in this news release, Patriot has made numerous assumptions, including that Patriot's future exploration programs will proceed as planned and within budget. Patriot expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. 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