|Pilot Gold - PLG.t is advancing three key projects in Turkey and Nevada. The Kinsley, TV Tower and Halilaga.|
The TV Tower and Halilaga projects are in the Biga District, Turkey. Teck Resources Limited's Turkish subsidiary is a 60% joint venture partner for both projects. Pilot Gold is currently earning-in to a 60% interest at TV Tower.
"Pilot Gold Inc. (PLG - TSX) ("Pilot Gold" or the "Company") is pleased to announce that it has commenced a four-hole RC drill program targeting high-grade gold mineralization in the Secret Canyon Shale at the Kinsley Mountain Gold Project ("Kinsley") in northeastern Nevada.In late 2013, Pilot Gold discovered the Western Flank gold deposit. The sulphide resource is currently estimated at 284,000 Indicated ounces of gold grading 6.04 g/t, and 39,000 Inferred ounces grading 2.41 g/t gold. Mineralization is open for extension to the north and east. (See December 17, 2015 press release, and the Kinsley Technical Report available on the Company’s website at www.pilotgold.com or under Pilot Gold’s SEDAR profile at www.sedar.com.)
- The Western Flank deposit is hosted in the Secret Canyon Shale, approximately 200 metres below the historical Kinsley open pit mine workings in the Dunderberg Shale
- There are 1,082 historic drill holes on the Kinsley property that test, or have tested for, mineralization in the Dunderberg Shale, with only a single historic hole (pre-Pilot Gold – 2011) passing through the Secret Canyon Shale horizon
- Drilling completed by Pilot Gold on the new Secret Canyon Shale target stratigraphy has tested 10 general, broadly-spaced locations over an approximate 10 km2 area. The target stratigraphic interval in all 10 areas contains anomalous gold mineralization to some degree, including:
- Western Flank Zone: 1,461,000 tonnes grading 6.04 g/t Au Indicated, 508,000 tonnes grading 2.41 g/t Au Inferred (see December 17, 2015 press release, and the Kinsley Technical Report)
- The Secret Spot: PK153: 25.7m grading 1.34 g/t Au, and 13.7 m grading 1.09 g/t Au, including 1.5 m grading 5 g/t Au, and 6.1 m grading 3 g/t Au (over a 70 metre interval) (September 10, 2014 press release)
- Racetrack: PK180: 10.7 m grading 1.25 g/t Au (December 9, 2014 press release)
- North-central historic Kinsley Mine trend: K425: 4.6 m grading 1.58 g/t Au (historical data)
Pilot Gold believes that the Secret Canyon Shale has high potential to host more than one zone of high-grade mineralization. Exploration is now focused on this specific stratigraphic interval.
New drill targets were developed using 3-D modeling software, including the integration of new and historical geological, geochemical and geophysical data as detailed below. As a result, a new high-priority target area immediately below and southwest of the historic Main Pit was identified and will be tested in four reverse circulation holes of approximately 425 metres each for a total of 1,700 metres. The drill program commenced April 21, 2016.