🕐10.08.11 - 14:27 Uhr
WG: PILOT GOLD INTERSECTS 1.87 G/T GOLD OVER 48.0 METRES IN STEP OUT AT KÜCÜKDAG
Von: Pilot Gold [mailto:] Im Auftrag von Pilot
Gold
Gesendet: Mittwoch, 10.
August 2011 13:13
An:
Betreff: Pilot Gold intersects 1.87 g/t gold over 48.0 metres in step out at
Kckdag
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Pilot Gold intersects 1.87 g/t gold over 48.0 metres in step out at Kckdag
August 10, 2011
11-14
Pilot Gold Inc.
(PLG - TSX) ("Pilot Gold" or the "Company") is pleased to
report that ongoing core drilling at the Kckdag target ("Kckdag"), at
the TV Tower Project in northwest Turkey continues to intersect significant
intervals of gold, silver and copper mineralization.
Step out drill hole
KCD-15 intersected strong gold mineralization over 48 metres, expanding the
footprint of the Kckdag mineralized system by 100 metres to the northeast.
Assay highlights from KCD-15 are as follows:
Hole KCD-15 (located 100 metres northeast of KCD-02):
* 1.87 grams per tonne gold, 0.19% copper, and 7.26 g/t silver over
48.0 metres, starting at 128.9 metres, including:
o 13.83 g/t gold, 0.31% copper, and 25.29 g/t silver over 5.4 metres.
* 42.16 g/t silver over 11.0 metres, starting at 10.5 metres.
Encouraging results were also returned from drill holes KCD-11 and KCD-14,
with strong intervals of silver mineralization intersected in targets
outside the main mineralized zone.
Hole KCD-14 (located 125 metres east-northeast of KCD-02):
* 63.68 g/t silver over 5.5 metres, starting at 6.9 metres;
* 40.25 g/t silver over 6.1 metres, starting at 25.2 metres;
* 3.03 g/t gold, 0.27% copper, and 29.99 g/t silver over 3.7 metres,
starting at 39.2 metres.
Hole KCD-11 (located 450 metres northwest of KCD-02):
* 44.36 g/t silver over 11.8 metres, starting at 112.7 metres
All true widths are 60-90% of reported widths unless otherwise stated.
All
intervals of no sampling have been assigned zero grade for the purposes of
compositing.
For a map highlighting recent drilling at Kckdag, please click:
http://www.pilotgold.com/sites/default/files/KCDDrillMap1114.pdf
For a comprehensive table of drill results from Kckdag to date, including
new and non-reportable intercepts, please click:
http://www.pilotgold.com/sites/default/files/KCDDrillResults1114.pdf
The Kckdag target is a high sulphidation gold system characterized by a
750 m x 100 m zone of strong silicification.
Gold-silver-copper
mineralization is related to multi-phase breccias hosted within a
north-dipping sequence of silicified volcaniclastics.
The geometry of this
breccia development appears to be conformable with stratigraphy.
These results are from an ongoing 15,000 metre diamond core drilling program
at the TV Tower Project currently focused on the Kckdag and Kayali
targets, where phase 1 drilling in 2010 resulted in the discovery of two
large gold-bearing mineralized systems.
Five core drills are currently
operating on the property, with 6,400 metres of drilling completed to date.
At Kckdag, a total of 2,600 metres have been drilled with results from
four exploration holes currently pending.
Phase 1 highlights include KCD-02 (4.28 g/t gold over 136.2 metres) at
Kckdag and KYD-01 (0.87 g/t gold over 114.0 metres) at Kayali.
The
Kckdag target is the northernmost zone at the TV Tower Project.
The Kayali
target represents the southernmost zone, with Phase 2 drilling currently
underway.
In addition to Kckdag and Kayali, six other highly prospective
zones of surface alteration and gold mineralization have been identified at
the TV Tower Project.
Teck Madencilik Sanayi Ticaret A.S.
("TMST"), a Turkish subsidiary of Teck
Resources Limited ("Teck"), is Pilot Golds 60% partner and the project
operator
About the TV Tower Project:
The TV Tower Project is a large, road-accessible property covering more than
65 square-kilometres located in the Biga District of northwest Turkey.
Since 2004, Pilot Golds technical team has played an important role in
establishing the prospectivity and gold endowment of the Biga District,
following staking of the area by Teck.
Eight high-conviction targets have
been identified with widespread epithermal to porphyry characteristics
typical of those seen at other deposits in the Biga District.
All drill samples and analytical data for TV Tower are collected under the
supervision of TMST, using industry standard QA-QC protocols.
Ian
Cunningham-Dunlop, P.
Eng, VP Exploration and Chief Operating Officer for
Pilot Gold, and a "Qualified Person" within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101"), is responsible for compiling the technical information contained
in this release.
Mr.
Cunningham-Dunlop has not verified all of the assay
data generated by TMST as project operator.
However, the grades and widths
reported here agree well with the Companys past results on the project and
TMST has given him no reason to doubt their authenticity.
ABOUT PILOT GOLD
Pilot Gold is a gold exploration company focused on advancing Halilaa, TV
Tower and our pipeline of projects in Nevada.
For more information, visit
www.pilotgold.com or contact:
Matt Lennox-King, President & CEO
Patrick Reid, VP Corporate Development
Phone 604-632-4677 or Toll Free 1-877-632-4677
For further details on TV Tower, please view the NI 43-101 compliant
technical report entitled "NI 43-101 Technical Report on the TV Tower
Exploration Property, Canakkale, Western Turkey," dated February 15, 2011,
as amended on June 7, 2011, prepared by Ian R.
Cunningham-Dunlop, P.
Eng.
and VP Exploration and Chief Operating Officer, Pilot Gold (formerly VP
Exploration, Fronteer Gold Inc.) under Pilot Golds Issuer Profile on SEDAR
(www.sedar.com
).
Except for the statements of historical fact contained herein, certain
information presented constitutes "forward-looking information" within the
meaning of applicable Canadian securities laws.
Often, but not always,
forward-looking information can be identified by the use of words such as
"plans", "planning", "planned", "expects" or "looking forward", "does not
expect", "continues", "scheduled", "estimates", "forecasts", "intends",
"potential", "anticipates", "does not anticipate", or "belief", or
describes a "goal", or variation of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved.
Such forward-looking information,
including, but not limited to, information with respect to exploration
results, the timing and success of exploration activities generally,
permitting timelines, government regulation of exploration and mining
operations, environmental risks, title disputes or claims, limitations on
insurance coverage, potential quantity and/or grade of minerals, potential
size of mineralized zone, potential expansion of mineralization, potential
type of mining operation, timing and possible outcome of any pending
litigation, timing and results of future resource estimates or future
economic studies and the timing and results of any future development
programs involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievement of Pilot Gold
to be materially different from any future results, performance or
achievements expressed or implied by such forward looking information.
Such
factors include, among others, risks related to the interpretation and
actual results of current exploration and development activities; changes in
project parameters as plans continue to be refined; current economic
conditions; future prices of commodities; possible variations in grade or
recovery rates; failure of equipment or processes to operate as anticipated;
the failure of contracted parties to perform; labour disputes and other
risks of the mining industry; delays in obtaining governmental approvals or
financing or in the completion of exploration, as well as those factors
discussed in the section entitled "Risk Factors" in the Companys Amended
Annual Information Form for the year ended December 31, 2010 dated May 12,
2011 (amended June 7, 2011), which is available under Pilot Golds SEDAR
profile at www.sedar.com
.
Although Pilot
Gold has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking information, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended.
There can
be no assurance that such information will prove to be accurate as actual
results and future events could differ materially from those anticipated in
such statements.
Pilot Gold disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of new
information, future events or otherwise.
Accordingly, readers should not
place undue reliance on forward-looking information.
PLG - TSX
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