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Patriot Gold to begin resource drill program

10/8/2012 3:36:31 PM | Stockhouse Editorial

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Drilling is designed to assist the technical team in the preliminary design and modeling of a starter pit in the central area of the mineralized gold-silver corridor.

Patriot Gold Corp., a private company, said plans to commence a resource definition drill program to expand the parameters of a potential starter pit at the Moss gold-silver project located in Arizona are underway.

The Moss mine project is situated in the historic Oatman Mining district in northwestern Arizona. The Moss deposit is a low-sulfidation epithermal stockwork deposit with a strike length in excess of one mile.

According to the press release, the program is being conducted by Patriot Gold's project partner, Northern Vertex (TSX.V:NEE, Stock Forum).

Drill contracts for the estimated 5,000 meter, multi-hole, upcoming definition drill program is currently being finalized with drilling expected to commence in the first week of October 2012.

Northern Vertex is a Canadian based exploration and mining company focused on the development of precious metals deposits in Canada and the United States.

On Monday, Northern Vertex was trading at $1.20 a share. The company has a market cap of $54 million, based on 45 million shares outstanding. The 52-week high and low was $1.55 and $0.80 respectively.

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