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 28 holes of its current Phase 2 expansion program. Included in the total are 18 RC (reverse circulation) drill holes and 10 diamond drill (core) holes. The company also reports Phase II drilling on the western extension is now complete. Results from the final holes of the program are expected in the near future.
"We are very pleased with current results," said Dr. Bob Thompson, Chief Geologist of Northern Vertex. "Five out of six drill holes returned high-grade intercepts including: 6.26 gpt Gold Equivalent over 1.68 meters, 5.37 gpt Gold Eqv over 1.83 meters, 4.03 gpt Gold Eqv over 1.22 meters and 3.61 gpt Gold Eqv over 4.57 meters. Results confirm the Gold mineralization along Moss's western extension is expanding and robust. Significantly, the high-grade zones are contained within much thicker mineralized intersections that continue to average substantially above internal cut-off grades, which will undoubtedly play a key factor in potentially adding additional future tonnage and Gold Eqv ounces to our current 43-101 Gold-Silver resource."
"In line with previous updates we have provided since drilling for the Moss Gold-Silver project began, we are excited to report continued promising results from our Phase 2 program," said Bob Coale, CEO of Patriot Gold. "Now that Phase 2 drilling on the western extension is complete, our focus is on working with Northern Vertex to deliver reporting on the final drill holes in the near future."
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 87 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 http://www.northervertex.com/QCQA.html
Source: http://www.northernvertex.com/extras/NR_April-02-2012.pdf
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.