Patriot Gold Provides Project and Corporate Update
Patriot Gold Corp (PGOL) provided a comprehensive update on its mining portfolio. The company owns a 3% net smelter royalty in the Moss Mine, Arizona, which has generated approximately $11 million USD in revenue to date. In April 2024, Patriot initiated legal action against Golden Vertex Corp regarding outstanding royalty payments, with the matter currently pending in US Bankruptcy Court.
Additionally, Patriot holds a 2% royalty in the Bruner gold project in Nevada, owned by Endeavour Silver Corp. The company also maintains 100% ownership of three exploration projects in Nevada: Windy Peak, Thra, and Vernal. Recent exploration at Windy Peak has revealed extensive hydrothermal breccias and vein systems along a 2.7-mile strike length, with drilling programs confirming upper-level low-sulfidation mineralization.
The company completed an aerial hyperspectral imagery project in Central Nevada, leading to the identification of several exploration targets and the staking of the Thra project, which spans 261 unpatented claims across approximately 5,391 acres.
Patriot Gold Corp (PGOL) ha fornito un aggiornamento completo sul suo portafoglio minerario. L'azienda possiede una royalty netta del 3% nella Moss Mine, in Arizona, che ha generato circa 11 milioni di dollari USA di entrate fino ad oggi. Nell'aprile 2024, Patriot ha avviato un'azione legale contro Golden Vertex Corp riguardo ai pagamenti di royalty arretrati, con la questione attualmente in sospeso presso il Tribunale fallimentare degli Stati Uniti.
Inoltre, Patriot detiene una royalty del 2% nel progetto aurifero Bruner in Nevada, di proprietà di Endeavour Silver Corp. L'azienda mantiene anche il 100% della proprietà di tre progetti di esplorazione in Nevada: Windy Peak, Thra e Vernal. Recenti esplorazioni a Windy Peak hanno rivelato ampie brecce idrotermali e sistemi di vene lungo un'estensione di 2,7 miglia, con programmi di perforazione che confermano mineralizzazione a bassa solfatazione a livelli superiori.
L'azienda ha completato un progetto di immagini iperspettrali aeree nel Nevada centrale, portando all'identificazione di diversi obiettivi di esplorazione e alla registrazione del progetto Thra, che si estende su 261 rivendicazioni non patentate su una superficie di circa 5.391 acri.
Patriot Gold Corp (PGOL) proporcionó una actualización completa sobre su cartera minera. La empresa posee una regalía neta del 3% en la Moss Mine, Arizona, que ha generado aproximadamente 11 millones de dólares estadounidenses en ingresos hasta la fecha. En abril de 2024, Patriot inició acciones legales contra Golden Vertex Corp por pagos de regalías pendientes, con el asunto actualmente en espera en el Tribunal de Quiebras de EE. UU.
Adicionalmente, Patriot tiene una regalía del 2% en el proyecto de oro Bruner en Nevada, propiedad de Endeavour Silver Corp. La empresa también mantiene el 100% de la propiedad de tres proyectos de exploración en Nevada: Windy Peak, Thra y Vernal. La exploración reciente en Windy Peak ha revelado extensas brechas hidrotermales y sistemas de vetas a lo largo de una longitud de 2.7 millas, con programas de perforación que confirman mineralización de baja sulfidación en niveles superiores.
La empresa completó un proyecto de imágenes hiperespectrales aéreas en el centro de Nevada, lo que llevó a la identificación de varios objetivos de exploración y a la reclamación del proyecto Thra, que abarca 261 reclamos no patentados en aproximadamente 5,391 acres.
Patriot Gold Corp (PGOL)는 자사의 광산 포트폴리오에 대한 포괄적인 업데이트를 제공했습니다. 이 회사는 아리조나의 Moss Mine에서 3%의 순 제련 로열티를 보유하고 있으며, 현재까지 약 1100만 달러의 수익을 창출했습니다. 2024년 4월, Patriot은 Golden Vertex Corp에 대해 미지급 로열티 지급을 두고 법적 조치를 취했으며, 이 문제는 현재 미국 파산 법원에서 대기 중입니다.
또한, Patriot은 Endeavour Silver Corp가 소유한 네바다의 Bruner 금 프로젝트에서 2%의 로열티를 보유하고 있습니다. 이 회사는 또한 네바다에 있는 세 개의 탐사 프로젝트인 Windy Peak, Thra, Vernal의 100% 소유권을 유지하고 있습니다. Windy Peak에서의 최근 탐사는 2.7마일 길이의 광범위한 열수 브레치아와 광맥 시스템을 드러냈으며, 드릴링 프로그램은 상부 저황화 광물화를 확인했습니다.
회사는 중앙 네바다에서 항공 하이퍼스펙트럼 이미징 프로젝트를 완료하여 여러 탐사 목표를 식별하고 약 5,391 에이커에 걸쳐 261개의 비특허 주장으로 구성된 Thra 프로젝트를 등록했습니다.
Patriot Gold Corp (PGOL) a fourni une mise à jour complète de son portefeuille minier. L'entreprise possède une redevance nette de 3% sur la Moss Mine, en Arizona, qui a généré environ 11 millions de dollars américains de revenus à ce jour. En avril 2024, Patriot a engagé des poursuites judiciaires contre Golden Vertex Corp concernant des paiements de redevances en souffrance, l'affaire étant actuellement en attente devant le tribunal des faillites des États-Unis.
De plus, Patriot détient une redevance de 2% sur le projet aurifère Bruner au Nevada, appartenant à Endeavour Silver Corp. L'entreprise conserve également 100% de la propriété de trois projets d'exploration au Nevada : Windy Peak, Thra et Vernal. Les récentes explorations à Windy Peak ont révélé d'importantes brèches hydrothermales et des systèmes de veines sur une longueur de 2,7 miles, avec des programmes de forage confirmant une minéralisation à faible sulfidation à des niveaux supérieurs.
L'entreprise a réalisé un projet d'imagerie hyperspectrale aérienne dans le centre du Nevada, ce qui a conduit à l'identification de plusieurs cibles d'exploration et à l'enregistrement du projet Thra, qui s'étend sur 261 revendications non brevetées sur environ 5,391 acres.
Patriot Gold Corp (PGOL) hat ein umfassendes Update zu seinem Bergbauportfolio bereitgestellt. Das Unternehmen besitzt eine 3% Nettoschmelzroyalty an der Moss Mine in Arizona, die bis heute etwa 11 Millionen USD an Einnahmen generiert hat. Im April 2024 leitete Patriot rechtliche Schritte gegen die Golden Vertex Corp wegen ausstehender Royalty-Zahlungen ein, wobei die Angelegenheit derzeit vor dem US-Insolvenzgericht anhängig ist.
Darüber hinaus hält Patriot eine 2% Royalty am Bruner-Goldprojekt in Nevada, das im Besitz der Endeavour Silver Corp ist. Das Unternehmen besitzt außerdem 100% der Anteile an drei Explorationsprojekten in Nevada: Windy Peak, Thra und Vernal. Jüngste Erkundungen bei Windy Peak haben umfangreiche hydrothermale Brekzien und Gangsysteme entlang einer 2,7 Meilen langen Strike-Länge offenbart, wobei Bohrprogramme eine Mineralisierung mit niedrigem Sulfidationsgrad in oberen Schichten bestätigen.
Das Unternehmen hat ein Luft-Hyperspektralbildprojekt in Zentral-Nevada abgeschlossen, das zur Identifizierung mehrerer Explorationsziele und zur Eintragung des Thra-Projekts geführt hat, das sich über 261 nicht patentierte Ansprüche auf etwa 5.391 Acres erstreckt.
- Moss Mine royalty has generated $11M USD in revenue
- Court order protects PGOL's rights to outstanding royalty payments
- Extensive 2.7-mile mineralized strike length identified at Windy Peak
- Strategic expansion through Thra project acquisition (5,391 acres)
- Legal dispute over outstanding royalty payments from Golden Vertex Corp
- Bruner gold project not yet in production despite completed PEA
- Primary high-grade mineralization at Windy Peak remains untested at depth
RENO, NV / ACCESS Newswire / March 24, 2025 / Patriot Gold Corp. (CSE:PGOL)(OTC PINK:PGOL) Reno, Nevada - Patriot Gold Corp ("Patriot") Patriot Gold Corp. ("Patriot") provided the following update today to shareholders.
Patriot owns a
Patriot acquired a
In April of 2024, Patriot took legal action against Golden Vertex Corp. (GVC), relating to outstanding royalty payments which are owed to Patriot under its Moss Mine royalty deed. Subsequently, GVC requested a stay of creditor claims and processes under chapter 15 of the US Bankruptcy Code. The US Bankruptcy court (Court) has provided that, until it makes a ruling relating to Patriot's claims against GVC, certain GVC assets including cash, accounts receivable, rights to proceeds from mineral production, and other rights to payment, must be segregated, accounted for, and preserved, and no distributions can be made of same, pending further order of the Court. Patriot expects this matter will remain before the Court for several more months.
Patriot also owns a
Patriot also owns a
Patriot's projects and exploration programs target large tonnage, high grade gold prospects.
Current exploration activities include geologic mapping, soil sampling, sagebrush biogeochemistry, VLF-EM and VLF-resistivity surveys, hyperspectral and magnetic geophysical surveys, rock chip sampling, and reverse circulation drilling.
Patriot's Windy Peak gold project ("Windy Peak") consists of 118 unpatented claims totaling approximately 2,419 contiguous acres. Windy Peak is situated in a gold-producing region which hosts such deposits as the Paradise Peak and Rawhide. Windy Peak has been the focus of extensive historical work, including geologic mapping, rock and float sampling, geophysical surveys and drilling.
Our exploration strategy is centered on the extensive hydrothermal breccias and vein systems identified along a significant 2.7-mile strike length near the margin of a prominent caldera. These zones, characterized by surface exposures of chalcedonic sinter breccia and faulted vein-breccia, provide compelling evidence for a large-scale hydrothermal system with known mineralization from historical mining activities.
The presence of a ring structure within and surrounding Windy Peak suggests a high potential for a nested caldera complex and an extensional regime along caldera margins. This structural setting is analogous to other caldera-associated deposits, such as the Round Mountain Mine to the east, with which it shares similar structural and lithological characteristics.
To date, our drilling programs have comprised a single core hole in 2018, 10 reverse-circulation (RC) holes in 2019, 12 RC holes in 2021, and an additional 7 RC holes in 2024, and have primarily focused on understanding the complex structural deformation associated with caldera resurgence and collapse.
This drilling has confirmed upper-level low-sulfidation mineralization along the 2.7-mile strike length, and evidence suggests that the primary boiling horizon, which remains at depth, could host higher-grade mineralization.
Patriot plans further exploration to continue to develop the project.
Patriot's Vernal gold project ("Vernal") consists of 12 unpatented mining claims totaling 120 contiguous acres, within a relatively short driving distance of the Windy Peak project. Patriot has conducted geologic mapping and rock chip sampling, and completed a National Instrument 43-101 technical report on the project.
Regionally, Patriot completed an extensive aerial hyperspectral imagery project in Central Nevada, over and nearby its Windy Peak and Vernal projects. The primary objective was to identify surface-exposed or weathered minerals associated with alteration systems indicative of mineralization. Hyperspectral data does not directly identify target minerals, but instead records spectral signatures of major mineral groups commonly associated with hydrothermal alteration. As a result, Patriot has identified several exploration targets.
Based on the hyperspectral imagery it completed, Patriot staked the Thra project, a contiguous group of mineral claims within a prospective area of the Churchill, Mineral, and Nye counties in Nevada. The project totals 261 unpatented claims (approximately 5,391 acres). The area is recognized as a historically productive mining district, with a record of gold, silver, and copper production from various deposit types. It also exhibits indications of a copper-molybdenum porphyry system, along with numerous tungsten skarns, silver-lead-zinc replacement veins, and high-sulfidation gold occurrences, suggesting substantial and diverse mineral potential.
Our decision to secure these claims is also based on the area's geological environment, characterized by a combination of Mesozoic and Tertiary volcanic and sedimentary rocks situated within the Walker Lane structural zone. This tectonic setting is associated with numerous gold and silver deposits, offering potential for new mineral discoveries across a range of deposit types.
About Patriot Gold Corp
Patriot is exploring its
On Behalf of the Board of Patriot
Trevor Newton
President, Director
866-998-4223
www.PatriotGoldCorp.com
Qualified Person: The foregoing technical information contained in this news release has been reviewed and verified by Zachary J. Black, Director and a Qualified Person ("QP") for National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
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.
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FAQ
How much revenue has PGOL generated from its Moss Mine royalty?
What legal actions has PGOL taken regarding the Moss Mine royalty in 2024?
What are the main exploration projects currently owned by PGOL in Nevada?
What recent exploration findings has PGOL reported at its Windy Peak project?
What is the significance of PGOL's hyperspectral imagery project in Central Nevada?
