🕐04.09.11 - 12:54 Uhr
WG: PILOT GOLD RETURNS 0.48 G/T GOLD AND 0.64% COPPER OVER 176.9 METRES AT HALILAGA
Von: Pilot Gold [mailto:] Im Auftrag von Pilot
Gold
Gesendet: Mittwoch, 31.
August 2011 21:57
An:
Betreff: Pilot Gold Returns 0.48 G/T Gold And 0.64% Copper Over 176.9 Metres
At Halilaga
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Pilot Gold Returns 0.48 G/T Gold And 0.64% Copper Over 176.9 Metres At
Halilaa
August 31, 2011
11-16
Pilot Gold Inc.
(PLG - TSX) ("Pilot Gold" or the "Company") is pleased to
report that ongoing core drilling at the Halilaa Project in northwest
Turkey continues to increase both the size and continuity of copper-gold
mineralization at the Kestane porphyry.
Drilling from within the Kestane porphyry has intersected shallow high-grade
supergene mineralization that returned:
* 0.77 grams per tonne gold and 1.51% copper over 37.4 metres in HD-86
within a broader interval that returned 0.48 g/t gold and 0.64% copper over
176.9 metres:
* 1.09 g/t gold and 0.87% copper over 49.4 metres in HD-94A contained
within a broader interval that returned 0.64 g/t gold and 0.51% copper over
117.3 metres
Step-out drilling designed to expand the size of the porphyry body returned:
* 0.22 g/t gold, 0.27% copper and 0.01% molybdenum over 316.3 metres
in HD-92A
* 0.20 g/t gold and 0.19% copper over 76.4 metres in HD-87
* 1.51 g/t gold over 15.1 metres in HD-89
All true widths are 80-90% of reported widths unless otherwise stated.
All
intervals of no sampling have been assigned zero grade for the purposes of
compositing.
Composites were calculated at 0.5, 1.0 and 2.0 g/t gold
equivalent cut-offs using $1000/oz gold and $3.00/lb copper for consistency
with historic reporting practice.
For a PDF of comprehensive drill results
to date, including new and non-reportable intercepts, please click:
http://www.pilotgold.com/sites/default/files/HalilagaDrillResults1116.pdf
For a map highlighting recent drilling, please click:
http://www.pilotgold.com/sites/default/files/HalilagaDrillMap1116.pdf
These results are from the Phase 1, four-rig, 10,000 metre
exploration/delineation drill program completed in H1 2011, focused on the
Central Zone of the Kestane target, as well as, prominent magnetic anomalies
on the remainder of the property.
A Phase 2, 10,000 metre program is
underway and is expected to wrap up in early October, with approximately
4,470 metres completed to date.
Pilot Golds share of the 2011 budget is
approximately $2.0-million.
The Kestane porphyry is mineralized over a strike length of 1,200 metres, a
width of 850 metres, and a thickness of up to 600 metres, including a
locally developed shallow supergene enrichment zone with grades of 1%-to-2%
Cu.
All drill samples and analytical data for Halilaa 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, is responsible for compiling the technical information
contained in this release.
Mr.
Cunningham-Dunlop has not verified all 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 Halilaga, please view the NI 43-101 compliant
technical report entitled "NI 43-101 Technical Report on the Halilaga
Exploration Property, Canakkale, Western Turkey," dated February 15, 2011,
as amended 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
2011 Pilot Gold |
pilotgold.com
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