PLG-T Pilot Gold Reports Continued Drilling Success at Goldstrike Oxide Gold Project in Utah
juniorminingnetwork.com
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 1, 2016) - Pilot Gold Inc. (TSX:PLG) ("Pilot Gold" or the "Company") is pleased to announce additional drill results from the Main Zone at the 100% controlled Goldstrike Project in southwestern Utah. The primary target is shallow, Carlin-style, oxide gold mineralization within the 14 km2 "Historic Mine Trend", between and down-dip of historic open pits.
Highlights include:
2.00 g/t Au over 7.6 m in PGS1070.88 g/t Au over 9.1 m in PGS 1080.47 g/t Au over 25.9 m in PGS1090.52 g/t Au over 10.7 m in PGS 1100.51 g/t Au over 13.7 m in PGS 1130.70 g/t Au over 25.9 m in PGS1140.42 g/t Au over 10.7 m and 0.87 g/t Au over 10.7 m in PGS1151.20 g/t Au over 22.9 m including 2.48 g/t over 6.1 m in PGS1170.84 g/t Au over 10.7 m including 1.20 g/t over 6.1 m and 0.83 g/t Au over 10.7 m in PGS1260.80 g/t Au over 22.9 m and 0.84 g/t Au over 27.4 m in PGS129* Please note that due to having two drills on the property, assay results for the holes are not necessarily received in sequence.
KEY POINTS
Drilling has concluded in the Main Zone (located on the eastern end of the Historic Mine Trend) to prepare it for inclusion in a resource estimate, projected for completion in Q1/Q2 2017.Over 30 additional drill holes are currently pending assay results. Of the 21 released drill holes, 18 holes contained mineralized intercepts of at least 0.26 g/t Au and nine of those contained a second mineralized intercept. Three holes had no significant results.Assay results are pending from 17 holes drilled in the Dip Slope target, an area approximately 2.5 km long and up to 750 m wide, located to the north of the Main Zone. This area hosts several historic pits with unmined gold intercepts in historic holes and much of the target area is very sparsely drilled.One drill is currently focused on the Covington - Moosehead historical pit areas, testing the main graben-bounding Covington fault.A second drill is testing the Peg Leg Graben, located to the southwest of the Main Zone. Results are pending from all of these holes.Hole PGS129 is a new discovery area in the Main Zone, extending to the north towards the Dip Slope target.
ABOUT GOLDSTRIKE
Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada's Carlin trend. Like Kinsley Mountain and Newmont's Long Canyon deposit, Goldstrike represents part of a growing number of Carlin-type systems located off the main Carlin and Cortez trends in largely underexplored parts of the Great Basin.
Goldstrike is an early-stage exploration projects and does not contain any mineral resource estimates as defined by NI 43-101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.
Further information on Goldstrike is available in the technical report entitled "Technical Report on the Goldstrike Project, Washington County, Utah, U.S.A.", effective April 1, 2016 and dated October 7, 2016, prepared by Michael M. Gustin, C.P.G. and Moira Smith, Ph.D., P.Geo., available on the Company's website at www.pilotgold.com or under Pilot Gold's SEDAR profile at www.sedar.com. |
