Patriot Gold'S Bruner Project Drilling Hits 91.4 Meters of 3.1 Grams Gold (300 Feet of 0.09 opt Gold) at Penelas East Area Results Show Second Best Drill Intercept At Bruner Project

LAS VEGAS, May 2, 2013 /PRNewswire/ -- Patriot Gold Corp. (OTC: PGOL) or ("Patriot Gold"), a developing gold and silver exploration and production company, today announced positive assay results of the first and second drill holes (B-1301 and B-1302) from the 2013 drilling program at the Penelas East target area at the Bruner Gold project located in Nye County, Nevada.

Project Highlights:

  • Spring drilling project is underway with two out of 12 scheduled drills completed.
  • The first drill hole has produced the second best intercept in the history of the current project, recording assay results of 91.4 meters of 3.1 grams gold per tonne
  • Remaining spring 2013 scheduled drills to be completed during the first half of 2013 in the new Penelas East area
  • An additional 16 scheduled drills are scheduled to be completed in the northwest region of the Bruner project site during 2013.

"We are very excited to report these first assay results which notably include the second best intercept we have seen from drilling to date for the Bruner Gold Project," said Karl Boltz, Vice President of Business Development for Patriot Gold. "Drilling on this relatively new discovery deposit to the east of the historic producing mines has encountered another long interval of good gold mineralization, and we look forward to keeping our shareholders updated as the Spring 2013 twelve-hole drill program advances in the Penelas East target area."

The second best intercept drilled on the Bruner property was encountered in drill hole B-1301 which intersected 91.4 meters of 3.1 grams per tonne ("g/t") Au (300 feet grading 0.090 ounces per ton ("opt") gold) between 290-590 feet. This long intercept of mineralization included 5 feet grading 117 g/t Au (3.402 opt) and 396 g/t Ag (11.55 opt) between 415-420 feet. The intercept is located approximately 55 meters (180 feet) south of the discovery hole B-1201 reported last year which contained 110 meters of 4.08 g/t Au (360 feet grading 0.119 opt)  between 290-650 feet. In addition, drill hole B-1301 intersected two thinner and lower grade zones further down the hole at 660-695 feet depth, including 35 feet grading 1.507 g/t Au (0.044 opt) and between 750-780 feet downhole, 30 feet grading 0.474 g/t Au (0.014 opt).

In comparison, drill holes B-1301 and B-1201 have very similar characteristics with a high-grade core close to centered within an extensive and robust lower grade halo surrounding the high-grade core. More importantly, drill hole B-1301 is on the southern end of the drilling pattern completed to date at the Penelas East target area, indicating that the wide zone of mineralization with a central high-grade core remains open to the south. Mineralization at this depth could be accessible by open pit.

Drill hole B-1302 (N95E azimuth and -75 degree inclination) was designed to intersect the mineralized zone 60 meters (200 feet) below that in B-1301 (N95E azimuth and -60 degree inclination) and intersected 16.8 meters (55 feet) grading 1.563 g/t Au (0.046 opt) from 640-695 feet downhole. It has not yet been determined whether this intercept is the down-dip equivalent of the thicker high-grade zone encountered in B-1301 or whether the target dips to the east and, thus, out of reach of drill hole B-1302.

The drill intercepts are summarized in the following table with the complete table of results included at the end of this release.

Highlights of Drill Hole B-1301

Hole

From (ft)

To (ft)

Thickness (ft)

Au grade g/tonne

Au grade oz/ton

B-1301

290

590

300

3.10

0.090

including:

415

420

5

117.00

3.402

As part of the drill program, all intercepts greater than 3 g/t Au (0.09 opt) are being re-assayed from a one kilogram split from the coarse rejects and pulverized entirely to -200 mesh to assess the presence of particulate gold in the higher grade intercepts.

For the first half of 2013, a total of twelve holes are planned for the drill program at the Penelas East target area to obtain a better understanding of the geometry and orientation of the mineralized zone given that the area is not exposed at the surface. Results from these holes will be announced as they are received and analyzed and are expected to be released on a section-by-section basis going forward.

The Bruner Project
The Bruner Project is situated in central Nevada, 15 miles north of the Paradise Peak mine, 45 miles northwest of Round Mountain and 25 miles east of the Rawhide mine. Historic production from the Bruner property included about 100,000 ounces at an average grade of 0.56 opt gold. Since commencing drilling with its current earn-in optionee/operator in November 2011, the project has completed 19 drill holes through reverse circulation techniques and three core holes. Currently, ten more holes are planned for the East Penelas target area in the first half of 2013, and an additional 16 drill holes are planned in 2013 for the northwest portion of the Bruner Project to test the northern extension of the historic producing areas.

Patriot Gold´s Option To Optionee/Operator
Patriot Gold owns 100% undivided rights, title and interest in the project which is subject to certain royalties and an earn-in option agreement for 70% interest. The earn-in optionee/operator has the right to earn 70% interest in the Bruner project by spending $6 million over seven years and may earn an additional 5% by completing a bankable feasibility study for a total of 75% interest in the project. Subsequent to the optionee/operator earn-in, financing of the project will be on a proportional basis.

About Patriot Gold
Patriot Gold Corp. is a developing precious metals exploration and production 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 Mine 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.

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.

Investors:
Patriot Gold
702-456-9565

B-1301

Au (g/t)

Au (opt)

B-1301 20-25

0.1

0.0029

B-1301 25-30

0.187

0.0055

B-1301 30-35

0.913

0.0266

B-1301 35-40

0.06

0.0017

B-1301 40-45

0.169

0.0049

B-1301 45-50

0.007

0.0002

B-1301 50-55

0.03

0.0009

B-1301 55-110

<0.005 

 <0.005 

B-1301 110-115

0.008

0.0002

B-1301 115-120

0.007

0.0002

B-1301 120-125

0.005

0.0001

B-1301 125-130

0.006

0.0002

B-1301 130-135

0.006

0.0002

B-1301 135-140

0.005

0.0001

B-1301 140-145

 <0.005 

 <0.005 

B-1301 145-150

0.009

0.0003

B-1301 150-155

0.005

0.0001

B-1301 155-210

 <0.005 

<0.005  

B-1301 210-215

0.017

0.0005

B-1301 215-220

<0.005  

 <0.005 

B-1301 220-225

0.007

0.0002

B-1301 225-270

<0.005  

 <0.005 

B-1301 270-275

0.033

0.001

B-1301 275-280

0.067

0.002

B-1301 280-285

0.042

0.0012

B-1301 285-290

0.145

0.0042

B-1301 290-295

7.82

0.2281

B-1301 295-300

4.1

0.1196

B-1301 300-305

0.642

0.0187

B-1301 305-310

0.43

0.0125

B-1301 310-315

0.033

0.001

B-1301 315-320

0.052

0.0015

B-1301 320-325

0.832

0.0243

B-1301 325-330

0.945

0.0276

B-1301 330-335

4.12

0.1202

B-1301 335-340

0.63

0.0184

B-1301 340-345

0.562

0.0164

B-1301 345-350

0.361

0.0105

B-1301 350-355

0.102

0.003

B-1301 355-360

0.146

0.0043

B-1301 360-365

0.086

0.0025

B-1301 365-370

0.018

0.0005

B-1301 370-375

0.057

0.0017

B-1301 375-380

0.066

0.0019

B-1301 380-385

0.067

0.002

B-1301 385-390

0.052

0.0015

B-1301 390-395

0.146

0.0043

B-1301 395-400

0.326

0.0095

B-1301 400-405

0.126

0.0037

B-1301 405-410

1.325

0.0386

B-1301 410-415

1.04

0.0303

B-1301 415-420

117

3.4124

B-1301 420-425

15.7

0.4579

B-1301 425-430

4.97

0.145

B-1301 430-435

3.28

0.0957

B-1301 435-440

2.95

0.086

B-1301 440-445

2.22

0.0647

B-1301 445-450

0.589

0.0172

B-1301 450-455

0.219

0.0064

B-1301 455-460

0.14

0.0041

B-1301 460-465

0.98

0.0286

B-1301 465-470

1.39

0.0405

B-1301 470-475

0.149

0.0043

B-1301 475-480

0.155

0.0045

B-1301 480-485

0.377

0.011

B-1301 485-490

0.475

0.0139

B-1301 490-495

0.253

0.0074

B-1301 495-500

0.804

0.0234

B-1301 500-505

0.161

0.0047

B-1301 505-510

1.215

0.0354

B-1301 510-515

0.506

0.0148

B-1301 515-520

0.172

0.005

B-1301 520-525

0.282

0.0082

B-1301 525-530

0.513

0.015

B-1301 530-535

0.279

0.0081

B-1301 535-540

1.18

0.0344

B-1301 540-545

0.168

0.0049

B-1301 545-550

0.278

0.0081

B-1301 550-555

0.136

0.004

B-1301 555-560

0.663

0.0193

B-1301 560-565

1.995

0.0582

B-1301 565-570

0.554

0.0162

B-1301 570-575

0.864

0.0252

B-1301 575-580

0.457

0.0133

B-1301 580-585

0.615

0.0179

B-1301 585-590

0.336

0.0098

B-1301 590-595

0.14

0.0041

B-1301 595-600

0.114

0.0033

B-1301 600-605

0.199

0.0058

B-1301 605-610

0.104

0.003

B-1301 610-615

0.131

0.0038

B-1301 615-620

0.205

0.006

B-1301 620-625

0.097

0.0028

B-1301 625-630

0.092

0.0027

B-1301 630-635

0.035

0.001

B-1301 635-640

0.085

0.0025

B-1301 640-645

0.281

0.0082

B-1301 645-650

0.228

0.0066

B-1301 650-655

0.181

0.0053

B-1301 655-660

0.156

0.0045

B-1301 660-665

0.454

0.0132

B-1301 665-670

0.1

0.0029

B-1301 670-675

0.118

0.0034

B-1301 675-680

6.39

0.1864

B-1301 680-685

1.745

0.0509

B-1301 685-690

0.29

0.0085

B-1301 690-695

1.455

0.0424

B-1301 695-700

0.25

0.0073

B-1301 700-705

0.108

0.0031

B-1301 705-710

0.103

0.003

B-1301 710-715

0.128

0.0037

B-1301 715-720

0.066

0.0019

B-1301 720-725

0.156

0.0045

B-1301 725-730

0.052

0.0015

B-1301 730-735

0.099

0.0029

B-1301 735-740

0.024

0.0007

B-1301 740-745

0.061

0.0018

B-1301 745-750

0.158

0.0046

B-1301 750-755

0.701

0.0204

B-1301 755-760

0.258

0.0075

B-1301 760-765

0.41

0.012

B-1301 765-770

0.376

0.011

B-1301 770-775

0.509

0.0148

B-1301 775-780

0.591

0.0172

B-1301 780-785

0.206

0.006

B-1301 785-790

0.194

0.0057

B-1301 790-795

0.077

0.0022

B-1301 795-800

0.59

0.0172

SOURCE Patriot Gold Corp.



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