Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada

Rhea-AI Summary

Patriot Gold Corp. has initiated a drilling program at its Rainbow Mountain gold project located near Fallon, Nevada. A drill rig and crew are currently on-site to explore multiple gold targets through reverse-circulation drilling, following previous sampling and field work. The Rainbow Mountain project is part of Patriot's portfolio of 100%-owned gold projects in Nevada, which also includes Windy Peak and Vernal gold projects. Additionally, Patriot holds royalties in the Moss Mine in Arizona and the Bruner gold project in Nevada.

Positive

• Commencement of drilling at the Rainbow Mountain gold project may lead to new gold discoveries.
• Patriot owns several gold assets in Nevada, potentially increasing future revenue opportunities.
• The company holds royalties from operational mines, providing additional income streams.

Negative

• Exploration results are uncertain and may not meet company expectations.
• Risks include fluctuating gold prices and unexpected costs impacting profitability.
• Dependence on regulatory approvals for exploration activities could delay progress.

RENO, NV / ACCESSWIRE / December 10, 2020 / Patriot Gold Corp. (CSE:PGOL)(OTCQB:PGOL) - Patriot Gold Corp. ("Patriot") today announced that a drill rig and crew are on-site at Patriot's Rainbow Mountain gold project near Fallon, Nevada. A drilling program is planned to test several gold targets. This reverse-circulation drilling program follows sampling and other field work conducted by Patriot. Patriot's 100%-owned Rainbow Mountain gold project is situated on the margins of the Walker Lane belt and the Basin and Range province.

About Patriot Gold Corp

Patriot is exploring its 100%-owned gold projects in Nevada, which include the Windy Peak gold project, Rainbow Mountain gold project, and Vernal gold project. Patriot owns a 3% royalty in the Moss Mine in Arizona, now in commercial production. Patriot also owns a 2% royalty in the Bruner gold project in Nevada.

On Behalf of the Board of Patriot

Trevor Newton
President, Director

www.PatriotGoldCorp.com

The CSE has neither approved nor disapproved the information contained herein.

Disclaimer: This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release may include statements in relation to the timing, cost and other aspects of future plans, objectives or expectations of Patriot Gold Corp. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Patriot's plans include the risk that actual results of current and planned exploration activities will not be consistent with Patriot's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue Patriot's programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental requirements; timeliness of civil government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by Patriot with securities regulators. In connection with the forward-looking information contained in this news release, Patriot has made numerous assumptions, including that Patriot's future exploration programs will proceed as planned and within budget. Patriot expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. 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.

SOURCE: Patriot Gold Corp

View source version on accesswire.com:
https://www.accesswire.com/620319/Drilling-to-Commence-at-Patriot-Golds-Rainbow-Mountain-Gold-Project-in-Nevada

FAQ

What is the latest news about Patriot Gold Corp?

Patriot Gold Corp has announced the start of a drilling program at the Rainbow Mountain gold project near Fallon, Nevada.

What is the location of the Rainbow Mountain gold project?

The Rainbow Mountain gold project is located near Fallon, Nevada.

What are the potential risks mentioned in Patriot Gold Corp's press release?

The press release mentions risks such as fluctuating metals prices, unexpected costs, and uncertainties in drilling results.

What other projects does Patriot Gold Corp own?

Patriot Gold Corp also owns the Windy Peak and Vernal gold projects in Nevada.

Does Patriot Gold Corp have any royalties from other mines?

Yes, Patriot Gold Corp has a 3% royalty from the Moss Mine in Arizona and a 2% royalty from the Bruner gold project in Nevada.