Patriot Gold Provides Shareholder Update
Patriot Gold Corp. (PGOL) provided a significant update on its operations, reporting a robust royalty revenue of $929,780 in H1 2020, up from $537,337 in the same period of 2019. The company benefits from a 3% royalty from the Moss Mine, which achieved record production of 4,218 gold ounces and 37,171 silver ounces in July. Additionally, Patriot holds a 2% royalty on the Bruner gold project and 100% interest in three exploration projects in Nevada. Future exploration is planned across its properties.
- Royalty revenue of $929,780 in H1 2020, an increase from $537,337 in H1 2019.
- Moss Mine produced a record 4,218 gold ounces and 37,171 silver ounces in July 2020.
- Possession of a 2% royalty on the Bruner gold project, alongside 100% interest in three Nevada exploration projects.
- None.
LAS VEGAS, NV / ACCESSWIRE / September 8, 2020 / Patriot Gold Corp. (CSE:PGOL)(OTCQB:PGOL) Patriot Gold Corp. ("Patriot") provided the following update today to shareholders.
Patriot Gold owns a
Vertex has continued to make significant progress in expanding monthly production, recently reporting record monthly production of 4,218 gold ounces and 37,171 silver ounces for July 2020. Vertex has also been conducting a drilling program with the goal of identifying additional ounces near the current pit and expanding the resource.
Patriot recorded
Patriot also owns a
Patriot also owns a
Patriot's Windy Peak gold project ("Windy Peak") is located approximately 45 miles southeast of Fallon in the state of Nevada, and consists of 114 unpatented claims totaling approximately 2,337 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. Patriot has completed two drilling programs on the Windy Peak, the first consisting of a core drilling program in 2018, and the second consisting of a reverse-circulation drilling program in 2019. Both drilling programs have returned positive results, and further drilling is planned.
Patriot's Rainbow Mountain gold project ("Rainbow") is located approximately 23 km southeast of Fallon, in the state of Nevada, and consists of 81 unpatented lode claims totaling approximately 1,620 contiguous acres. Surface sampling has been conducted on Rainbow by Patriot and a drilling program is now permitted.
Patriot's Vernal gold project ("Vernal") is located approximately 140 miles east-southeast of Reno in the state of Nevada, and consists of 12 unpatented mining claims totaling 120 contiguous acres. Patriot has conducted geologic mapping and rock chip sampling, and has completed a National Instrument 43-101 technical report on the project.
About Patriot Gold Corp
Patriot is exploring its
On Behalf of the Board of Patriot
Trevor Newton, President, Director
Contact: 702-456-9565
www.PatriotGoldCorp.com
The CSE has neither approved nor disapproved the information contained herein.
Forward-Looking Statements:
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
What is the recent royalty revenue reported by Patriot Gold Corp (PGOL)?
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