Pilot Gold Inc. ("Pilot Gold" or the "Company") announced today it has obtained a key permit for Kinsley Mountain, Nevada, allowing the Company to ramp up drilling to test high-priority targets across the core group of claims.
The U.S. Bureau of Land Management's ("BLM") Record of Decision confirmed approval for a Plan of Operations for Kinsley Mountain on August 30, 2013. The approved Plan of Operations allows Pilot Gold up to 70 acres for exploration and development drilling on the core group of claims, including the Western Flank, Candland Canyon and extensions trending NNE and SW of the historic pits.
Pilot Gold has completed 2858 metres in 12 RC holes to date in 2013 at Kinsley using a single drill operating under an existing permit. The Company will add two more drills in coming weeks to the program and expects to complete 20,000 metres of drilling in the current program.
Drill highlights from 2011 to 2012 include:
- Western Flank (550 metres northwest of nearest historic pit):
- 9.5 g/t gold over 4.57 metres in PK-67
- 6.03 g/t gold over 13.7 metres in PK-61
- Main Pit extension:
- 5.48 g/t gold over 20.4 metres in PK-14C
- 6.23 g/t gold over 8.7 metres in PK-02C
- Candland Canyon (250 metres northeast of nearest historic pit):
- 1.08 g/t gold over 10.7 meters in PK-39
For a table of Kinsley drill results (2011-2012), including non-reportable intercepts, please click here: http://www.pilotgold.com/sites/default/files/KinsleyDrillTable1314_0.pdf
For a property map outlining the area covered by the Plan of Operations, please click here: http://www.pilotgold.com/sites/default/files/PilotGold_Kinsley_maps.pdf
The Company plans to submit an amendment to the Plan of Operations to include additional target areas, including the entire northern portion of the Kinsley Range. Exploration work completed by Pilot Gold in 2012 delineated strong targets based on soil and rock anomalies combined with structural and stratigraphic mapping in both soil and rock sampling seven kilometres to the north of the historic pits.
Pilot Gold Increases Interest in Kinsley
Intor Resources Corporation ("Intor"), a subsidiary of Nevada Sunrise Gold Corp., is the Company's joint venture partner at Kinsley. On August 14, 2013, Intor informed Pilot Gold that it had elected not to fund its portion of the approved 2013 budget for Kinsley Mountain. As a result, and further to the Company having sole-funded the requisite reclamation bond, Pilot Gold's interest in Kinsley has increased from 65% to approximately 78%.
Pilot Gold is now funding a modified $3.4-million program in 2013 in its entirety.