Patriot Gold provides comprehensive plan update on Moss Gold-Silver project
Tuesday, Nov 27, 2012
LAS VEGAS, Nov. 26, 2012 /PRNewswire/ -- Patriot Gold Corp. (OTC: PGOL) and ("Patriot Gold" or the "Company"), a gold resource and exploration company, today provided a comprehensive update on exploration and development plans for the Moss Gold-Silver project located in Mohave County, Northwestern Arizona.
"With the recent positive updates on the progress of the Moss Gold-Silver project, we continue to recognize the importance of keeping our shareholders and supporters informed throughout this intensive process," said Bob Coale, CEO of Patriot Gold. "As such, we are pleased to be able to provide a comprehensive summary and update on the Moss project plan thus far. This includes a detailed 3 Phase Development Model approach that has been put in place to ensure that certain objectives will be met so we can effectively and efficiently achieve maximum production at the Moss site in the long-term."
Description and Location of the Moss Property:
The Moss property is located within the historic Oatman Mining District in Mojave County, Arizona which is 10 miles east of Bullhead City, Arizona and approximately 70 miles southeast of Las Vegas, Nevada. The Moss deposit is a low-sulfidation epithermal deposit having grade consistency and homogeneity along its 2 km strike length and remains open down dip. The Moss deposit is a mineralized quartz-calcite vein and stockwork up to 45 feet wide; it strikes approximately N70 degrees W and dips 65-75 degrees SW; the outcropping surface trace has a strike length of 5000 feet. The Moss property hosts low sulphidation epithermal vein-type gold mineralization.
Exploration Program Update:
A comprehensive resource definition drilling program is currently underway in the starter open pit mine area with a focus on two central hills with significant vein outcropping at surface. Drill results will be utilized in testing the extensions of the known mineralization, in mine modeling, to streamline the initial mine design of the starter pit and to add additional resources to the planned Phase 2 Mine Plan. Drilling to expand the resource is expected to continue into 2014 and also target increasing the resources available for the Phase 3 Mine Plan. The internal target is to add 250,000 ounces of gold equivalent adjacent to the currently planned pit areas thereby extending the mine life by three years or enabling expansion of the current design capacity from 10,000 tpd to 13,300 tpd.
About Patriot Gold
Patriot Gold Corp. is a resource exploration company with the mission to discover and develop significant gold and silver assets. Headquartered in Las Vegas, Nevada, Patriot Gold currently holds a portfolio of two projects in Nevada (Bruner and Vernal) and its flagship Moss project in Arizona, each at varying stages of development from grassroots to advanced exploration and resource development. For more information, go to our website at www.patriotgoldcorp.com.
SOURCE Patriot Gold Corp.