Posted in | News | Mining Business

Patriot Gold Announces Acquisition of 20 Acre Patented Mining Claim at Bruner Gold Project

Patriot Gold Corp. ("Patriot Gold"), a developing gold and silver exploration and production company, today announced that an additional 20 acre patented mining claim has been acquired at its Bruner gold project located in Nye County, Nevada.

The 20-acre Elk Lode patented claim complements and lies nearly adjacent to the Company's patented and unpatented holdings at the Bruner site. It was identified during a due diligence land search and brings the total patented land position to approximately 500 acres.

Currently, the 2014 drilling program is underway and engineering studies have commenced on portions of the Bruner site.

"The addition of the Elk Lode claim will add flexibility to future development plans for the Bruner project, which thus far has delivered positive initial drilling and testing results," said Bob Coale, CEO of Patriot Gold. "We are extremely pleased with the progress being made to ensure rapid project development and look forward to reporting on testing results from some of the 2014 drilling program in the near future."

The Bruner Project

The Bruner Project is situated in central Nevada, 15 miles north of the Paradise Peak mine, 45 miles northwest of Round Mountain and 25 miles east of the Rawhide mine. Historic production from the Bruner property included about 100,000 ounces at an average grade of 0.56 opt gold.

Patriot Gold´s Option To Optionee/Operator

Patriot Gold owns 100% undivided rights, title and interest in the project which is subject to certain royalties and an earn-in option agreement for 70% interest. The earn-in optionee/operator has the right to earn 70% interest in the Bruner project by spending $6 million over seven years and may earn an additional 5% by completing a bankable feasibility study for a total of 75% interest in the project. Subsequent to the optionee/operator earn-in, financing of the project will be on a proportional basis.

About Patriot Gold

Patriot Gold Corp. is a precious metals exploration and production company with the mission to discover and develop significant gold and silver assets. Headquartered in Las Vegas, Nevada, Patriot Gold currently holds a portfolio of two projects in Nevada (Bruner and Vernal) and its flagship Moss project in Arizona, each at varying stages of development from grassroots to advanced exploration and resource development. For more information, go to our website at www.patriotgoldcorp.com.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Patriot Gold Corp.. (2019, February 17). Patriot Gold Announces Acquisition of 20 Acre Patented Mining Claim at Bruner Gold Project. AZoMining. Retrieved on June 24, 2024 from https://www.azomining.com/News.aspx?newsID=9691.

  • MLA

    Patriot Gold Corp.. "Patriot Gold Announces Acquisition of 20 Acre Patented Mining Claim at Bruner Gold Project". AZoMining. 24 June 2024. <https://www.azomining.com/News.aspx?newsID=9691>.

  • Chicago

    Patriot Gold Corp.. "Patriot Gold Announces Acquisition of 20 Acre Patented Mining Claim at Bruner Gold Project". AZoMining. https://www.azomining.com/News.aspx?newsID=9691. (accessed June 24, 2024).

  • Harvard

    Patriot Gold Corp.. 2019. Patriot Gold Announces Acquisition of 20 Acre Patented Mining Claim at Bruner Gold Project. AZoMining, viewed 24 June 2024, https://www.azomining.com/News.aspx?newsID=9691.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.