Patriot Gold Corp (PGOL)

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HUGE Patriot Gold Moss Gold-Silver Project Independently Confirmed as 590,400 Ounces Gold Equivalent Resource
Date : 10/25/2011 @ 2:45PM
Source : PR Newswire
Stock : Patriot Gold Corp (QB) (PGOL)
Quote : 0.12 0.07 (140.00%) @ 1:19PM


Patriot Gold Moss Gold-Silver Project Independently Confirmed as 590,400 Ounces Gold Equivalent Resource
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Patriot Gold Corp (QB) (USOTC:PGOL)
Intraday Stock Chart
Today : Wednesday 26 October 2011
Patriot Gold Corp. (OTC: PGOL), a gold resource and exploration company, today announced that an independent evaluation has established its Moss Gold-Silver Project as a National Instrument 43-101 compliant 590,400 ounce gold (Au) equivalent resource.

The independent resource evaluation was completed by Scott E. Wilson Consulting, Inc., a Denver, Colorado engineering firm. The resource estimate was based on 53 channel samples and data from eight trenches and 288 exploration drill holes, which included 59 drill holes that were part of Phase 1 infill drilling conducted by Patriot Gold's project partner, Northern Vertex (TSX.V: NEE), a Canadian based gold exploration and development company. The complete technical report is expected to be filed by early December.


INDICATED RESOURCE at 0.3 g/t Au Cutoff

Tons
Grades (Grams/Ton)1
Contained Metal (Ounces)2

x 1,000
Au
Ag
Au
Ag
Au Equivalent3

13,377
0.89
9.4
383,248
4,021,740
483,7924




INFERRED RESOURCE at 0.3 g/t Au Cutoff

Tons
Grades (Grams/Ton)1
Contained Metal (Ounces)2

x 1,000
Au
Ag
Au
Ag
Au Equivalent3

4,731
0.55
6.2
83,124
940,164
106,6284




1 Grams/Ton = grams / metric ton;2 ounces = troy ounces / short ton3 AuEq (ozs) = Au (ozs) + 1/40th Ag (ozs)4 Assumes 100% metallurgical recovery. Investors are cautioned that actual metallurgical recovery rates may be lower.

"Clearly the new resource estimate is a testimony to the success of our recent 27,000 foot, Phase I drill program on Moss," said Dr. Bob Thompson, Chief Geologist for Northern Vertex. "We could not be more pleased with the conclusions returned from the independent resource study. Not only have we met our objectives and established a substantial gold-silver resource

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