Patriot Gold's Moss Mine Project Property Wide Sampling Program Uncovers High Potential Gold Bearing Structures for Future Exploration ... - Patriot Gold
 
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Patriot Gold's Moss Mine Project Property Wide Sampling Program Uncovers High Potential Gold Bearing Structures for Future Exploration
March 26, 2015

Las Vegas, NV - Patriot Gold Corp. (PGOL:OTC) or ("Patriot Gold"), today provided an update on the Moss Gold-Silver project's property wide exploration program.


Good results continue at our Moss Mine project

Key Highlights:
  • A total of 681 samples have been collected since the program began in September 2014, with a significant number returning gold mineralization with assays in excess of 1gpt in the Oatman Extension, Silver Creek Spring, Older Timer and Grapevine areas.
  • Several previously identified structures have shown mineralization over significant strike lengths.
  • The use of airborne geophysics and magnetic data highlighted potential structures for further exploration which also conform to previously identified aeromagnetic trends.
  • Plans are underway to conduct mapping and sampling of additional veins later in 2015.
"With the results gathered from this initial exploration program, we are more excited than ever to establish a more detailed plan to further explore and map out the high potential mineralization zones surrounding Moss," said Bob Coale, CEO of Patriot Gold. "The prospects for additional discoveries of gold bearing structures are good which leads us to believe that the future may very well bring a much more in-depth drilling program to better test the potential for further discoveries on the Moss and Silver Creek claims. In the meantime, we will continue to report our findings and provide a more detailed analysis as we uncover more value in and around the Moss project site for our partners and shareholders."

Reconnaissance mapping of vein structures and alteration mapping on the unpatented Moss claims and Silver Creek property followed by rock chip sampling resulted in a total of 681 samples which were taken to investigate a number of vein trends on unpatented claims surrounding the flagship Moss deposit. Initial coverage was focused on prominent quartz carbonate veins and breccia zones. A number of the aeromagnetic and structural trends noted in an earlier report were tested while others still remain to be sampled.

Mapping and Sampling Program

The mapping program was focused on identifying persistent epithermal veins and stockwork zones. Several vein structures have been mapped including the West Oatman ("West Oatman") and Silver Creek Spring ("Silver Creek Spring") veins and the historic Old Timer ("Old Timer") vein. Alteration mapping in the Grapevine and Florence Hill ("Grapevine and Florence Hill") areas of the Silver Creek claims has also been carried out. Sampling has concentrated on the West Oatman, Silver Creek Spring and Old Timer veins as well as some silica bodies within the Grapevine and other areas. A total of 681 composite and select rock chip samples have been collected to date.

The key target areas outlined during the program to date are:
  • The West Oatman Vein System - This vein system is defined by a fault striking N70W mapped for a distance of 4.5 kilometers. Three separate sections of the vein have been identified - the West Oatman Main, the West Oatman East and the West Oatman West - for a combined strike length of 1.6 kilometers. These are similar to the Moss vein system with both well-developed veins and quartz-calcite breccia stockwork zones.
  • The Silver Creek Spring Vein System - This vein system trends N80W for 1.2 kilometers and contains several historic shafts and surface diggings. Surface exposures are up to 5m wide.
  • The Old Timer Vein System - This historic vein system has a strike length of 1.0 kilometers, trending S80E. It is a series of en echelon veins that appear to splay off the NNW-trending Canyon Fault similar to what is seen at the Moss deposit.
  • The Grapevine and Florence Hill Area/System - The Grapevine and Florence Hill areas consist of a series of silica-capped hills underlain by strongly clay altered volcanic rocks. The silica caps are replacements of host volcanic rocks. Quartz veins are rare, but some narrow veins have highly anomalous gold values. Preliminary mapping shows that NNE to NNW-trending silicified ribs cut the strongly clay altered volcanic rocks. Anomalous gold, molybdenum and fluorine values were detected in the silica ribs in previous work. Although additional work is needed, preliminary indications are that surface alteration and mineralization is at a high level in the epithermal depositional system. The boiling or gold zone could be at some depth below the surface rock exposures.
Several of the previously identified structures have shown mineralization over significant strike lengths. These include the prominent aeromagnetic feature near the southern boundary of the Moss claim block interpreted to be a westerly continuation of the structural trend that hosts the Gold Road Deposit which produced 484,000 ounces at 10 gpt between 1897 and 1942. Sampling of a quartz carbonate brecciated zone on the West Oatman vein indicate a large number of samples with grades higher than 0.50 gpt over an area 270m x 50m in plan. A sub-parallel structure located 420m to the north of the above zone, Silver Creek Spring vein, indicates a number of samples grading in excess of 1 gpt over a strike length of 1320m. Additional quartz-carbonate veins, called The Old Timer trend, to the northwest of the Moss Deposit, show a number of samples grading in excess of 0.5 gpt over a strike length of 930m.

Assay Results to Date

The systems highlighted were the subject of a 681 rock chip sampling program. The samples were collected by professional prospectors with the objective of evaluating the lithology, mineralogy and structure of the identified vein systems both along and across strike. A significant number of samples showed evidence of gold mineralization with a portion having gold grades in excess of 1 gpt. This is an indication that a number of vein exposures on the property are auriferous at surface with others showing alteration and trace elements that indicate their surface expression is above the boiling zone where gold might be found in the system.

Highlights from the significant number of samples returning gold mineralization with assays in excess of 1 gpt include:



Future Plans

Due to the success of the current program in outlining areas of high potential for future exploration mapping, sampling and, eventually, drilling in the Moss project area, additional plans will be developed for a further mapping and sampling program to be carried out later this year. Several target areas remain to be sampled and others require follow-up sampling to further define their potential. Once this work is complete, the prospects for a property wide drilling program to test the potential for further discoveries on the Moss and Silver Creek claims will then be determined.

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.



 
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