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Patriot Gold Announces Drilling Results for Moss Mine Project, Arizona
May 8, 2009
Patriot Gold Corp. (OTCBB: PGOL) today announced the results of its drilling program at its Moss Mine Project located 10 miles east of Bullhead City, Arizona and approximately 70 miles southeast of Las Vegas, Nevada. Located within the Oatman District which has had historic production of +2 million ounces of gold, the Moss vein system can be traced on surface for over a mile. Dipping 40-60 degrees to the south from a high ridge, the quartz-calcite veins and stockworks are being drilled as a bulk minable gold target.
Patriot has drilled a total of 15,218 feet in 48 holes. All were reverse circulation (RC) except for 6 core holes. The drill holes have been angled so that they cross the vein at 90 degrees to vein dip where possible. Therefore, true widths will be 80-100% of the intercepts listed.
Results include thick intercepts of +0.03 oz/ton gold equivalent values. Among the more exceptional values are 80 feet of 0.081 oz/ton gold equiv. in AR-7, 75 feet averaging 0.046 oz/ton gold equiv. in AR-12, 75 feet at 0.071 oz/ton gold equiv. in AR-23, 95 feet at 0.051 oz/ton gold equiv. in AR-34, and 88 feet at 0.044 oz/ton in AR-50C. A 0.03 oz/ton gold equiv. cutoff was used to tabulate the results as shown below.
Patriot holds the Moss property via 65 unpatented mining claims and 15 patented claims (1,600 total acres). The project area is underlain by Tertiary age quartz monzonite intrusive intruding Tertiary age volcanics. Precambrian basement rocks underlie the volcanics. The Moss veins trend nearly east-west and dip to the south. The veins consist of quartz-calcite and lesser adularia. Minor pyrite occurs within the veins at depth.
The original target for Patriot at Moss was a bulk minable deposit with a conventional mill used to recover the gold/silver. While this is still an option the company is now doing work to establish the possibility of heap leaching the deposit. This would lower mining and capital costs for the project if feasible and allow mining of lower grade material.
With the possibility of being able to mine the deposit to greater depth Patriot plans further work at Moss to test the down-dip extension of the mineralization.
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MOSS PROJECT DRILL
HOLE ASSAY SUMMARY
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HOLE-ID
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FROM(ft)
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TO(ft)
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INTERVAL(ft)
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AU(oz/ton)
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AG(oz/ton)
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AU EQUIV(oz/ton)
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AR-1
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0
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40
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40
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0.028
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0.32
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0.033
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AR-2
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140
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165
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25
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0.048
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0.93
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0.063
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AR-3
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155
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165
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10
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0.028
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0.79
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0.041
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AR-4
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35
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45
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10
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0.041
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0.09
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0.043
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AR-5
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35
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80
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45
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0.036
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0.52
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0.045
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AR-6
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130
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160
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30
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0.064
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0.69
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0.075
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AR-7
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200
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280
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80
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0.072
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0.56
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0.081
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AR-8
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25
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60
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35
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0.038
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0.52
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0.047
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AR-9
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95
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140
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45
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0.041
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0.35
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0.046
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AR-10
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225
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250
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25
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0.031
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0.33
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0.036
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AR-11
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30
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80
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50
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0.045
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0.73
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0.057
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AR-12
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105
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180
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75
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0.037
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0.51
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0.046
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AR-13
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50
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65
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15
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0.047
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0.67
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0.059
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AR-14
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140
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195
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55
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0.041
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0.46
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0.049
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AR-15
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55
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85
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30
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0.041
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0.55
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0.051
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AR-16
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45
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75
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30
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0.056
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1.31
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0.078
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AR-17
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100
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110
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10
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0.035
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0.57
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0.045
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AR-17
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140
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170
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30
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0.055
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0.82
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0.069
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AR-18
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135
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172
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37
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0.119
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1.25
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0.140
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AR-19
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60
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75
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15
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0.048
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0.74
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0.060
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AR-20
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155
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165
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10
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0.026
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0.15
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0.029
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AR-20
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175
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190
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15
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0.119
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1.09
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0.137
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AR-21
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65
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70
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5
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0.024
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0.35
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0.029
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AR-22
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115
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130
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15
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0.031
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0.88
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0.046
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AR-22
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150
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170
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20
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0.033
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0.66
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0.044
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AR-23
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275
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305
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30
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0.074
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0.58
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0.084
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AR-23
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315
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390
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75
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0.063
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0.48
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0.071
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AR-24
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205
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210
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5
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0.058
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0.61
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0.068
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AR-24
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270
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295
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25
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0.032
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0.64
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0.043
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AR-25
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80
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90
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10
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0.038
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0.31
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0.043
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AR-26
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190
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195
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5
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0.058
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0.06
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0.058
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AR-27
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95
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105
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10
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0.156
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1.85
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0.187
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AR-28
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185
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190
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5
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0.026
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0.85
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0.040
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AR-29
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5
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10
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5
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0.025
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0.23
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0.029
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AR-29
|
60
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65
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5
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0.026
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0.18
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0.029
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AR-30
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90
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100
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10
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0.030
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0.45
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0.037
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AR-30
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140
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185
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45
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0.032
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0.44
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0.039
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AR-31
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290
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315
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25
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0.060
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0.96
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0.076
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AR-32
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270
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280
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10
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0.024
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0.39
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0.030
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AR-33
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110
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120
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10
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0.023
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0.56
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0.032
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AR-33
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275
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330
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55
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0.067
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0.43
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0.074
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AR-34
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365
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460
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95
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0.044
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0.40
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0.051
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AR-36
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10
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15
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5
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0.036
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0.29
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0.041
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AR-36
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65
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70
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5
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0.031
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0.06
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0.032
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AR-37
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600
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605
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5
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0.033
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0.03
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0.033
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AR-38
|
505
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510
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5
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0.056
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0.44
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0.063
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AR-38
|
560
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565
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5
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0.030
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0.18
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0.033
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AR-39
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150
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160
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10
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0.034
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0.12
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0.036
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AR-39
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175
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190
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15
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0.050
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0.40
|
0.056
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AR-39
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210
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225
|
15
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0.105
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0.69
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0.116
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AR-40
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No
gold equivalent values over 0.03 oz/ton were intersected in this hole
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AR-41
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Not
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drilled
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AR-42
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10
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20
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10
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0.030
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0.32
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0.035
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AR-42
|
140
|
155
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15
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0.030
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0.22
|
0.034
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AR-42
|
235
|
240
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5
|
0.025
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0.32
|
0.030
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AR-43
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Not
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drilled
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AR-44
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265
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305
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40
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0.052
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0.34
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0.057
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AR-45C
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235
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240
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5
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0.049
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1.02
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0.066
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AR-45C
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295
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300
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5
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0.023
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0.55
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0.032
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AR-45C
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400
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405
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5
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0.028
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0.06
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0.030
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AR-45C
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480
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485
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5
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0.034
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0.31
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0.039
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AR-46C
|
520
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525
|
5
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0.029
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0.12
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0.031
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AR-46C
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550
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555
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5
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0.072
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0.05
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0.072
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AR-46C
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625
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630
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5
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0.061
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0.08
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0.063
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AR-47C
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307
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312
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5
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0.033
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0.29
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0.037
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AR-47C
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654
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665
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11
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0.030
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0.20
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0.033
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AR-47C
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675
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680
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5
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0.041
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0.19
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0.044
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AR-47C
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730
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747
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17
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0.066
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1.37
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0.088
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AR-48C
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30
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40
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10
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0.040
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0.35
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0.045
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AR-48C
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80
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85
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5
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0.024
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0.27
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0.029
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AR-48C
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95
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100
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5
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0.034
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0.30
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0.039
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AR-48C
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120
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130
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10
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0.033
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0.33
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0.039
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AR-48C
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140
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205
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65
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0.055
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0.55
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0.065
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AR-49C
|
45
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55
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10
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0.027
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0.25
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0.032
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AR-49C
|
60
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65
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5
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0.037
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0.30
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0.042
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AR-49C
|
140
|
145
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5
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0.026
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0.25
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0.030
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AR-49C
|
155
|
210
|
55
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0.052
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0.73
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0.064
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AR-50C
|
325
|
413
|
88
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0.035
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0.57
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0.044
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Note:
Only includes gold equivalent values equal to or greater than 0.03 oz/ton.
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Silver
to gold ratio is 60/1 for gold equivalent. True width is 80-100%.
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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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