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Antwort auf Beitrag Nr.: 44.272.481 von prallhans am 19.03.13 17:39:28Pilot Gold reports year-end financial results
March 28, 2013
Significant milestones achieved at key projects in Turkey, Nevada
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to announce its financial results and company highlights for the year ended December 31, 2012, a year marked by significant advances on each of its key projects in Turkey and Nevada.
2012 highlights and significant events subsequent to year end include:
•Signed an earn-in and joint venture agreement with Teck Resources Limited ("Teck") to become project operator at the TV Tower property in Turkey, while earning in to 60% interest
•Identified large, growing gold and silver zones at the KCD target, TV Tower
•Announced results of a preliminary economic assessment and a maiden resource estimate for the Halilaga copper-gold project in northwest Turkey
•Earned-in to a 65% interest in, and doubled property size at, the Kinsley Mountain project in Nevada
•Sold the Regent exploration property for $3 million, retaining exposure to potential future production
•Secured capital to ensure 2013 exploration plans are fully funded
“Pilot Gold realized significant exploration and project success in 2012,” stated Matt Lennox-King, Pilot Gold President & CEO. “We are in an excellent position heading into 2013, with the financial strength and the proven skills and experience we require to drive progress at our properties in Turkey and Nevada and achieve our vision of being the leading exploration company in our chosen jurisdictions.”
TV Tower:
Pilot Gold currently holds a 40% interest in the project and became project operator in 2012. Pursuant to the TV Tower Agreement, we hold an option to increase our interest in the project from 40% to 60%, subject to meeting certain requirements over the next three years. A subsidiary of Teck currently holds a 60% interest in TV Tower. We completed the $5 million first-year minimum earn-in expenditure commitment in January 2013, and issued 1,637,500 common shares to a subsidiary of Teck in connection with achieving this first milestone.
Since becoming project operator in June 2012, we completed 14,440 metres of drilling, comprising 70 diamond drill holes primarily focused on the KCD target. Drilling in 2012 at KCD has returned some of the highest-grade gold, silver and copper intercepts reported in northwestern Turkey. The program at TV Tower for 2013 includes 30,000 metres of core and RC drilling at multiple targets.
Kinsley:
Pilot Gold earned a 65% interest in Kinsley Mountain in February 2013. The 2012 program included 11,868 metres of infill and step-out core and reverse circulation (“RC”) drilling in 63 holes, and was designed to define and expand the mineralized zones identified by previous operators.
In conjunction with drilling, a comprehensive property-wide soil and rock sampling and geological mapping effort to identify new targets was completed, encompassing both the original 272 claims and 191 claims staked by the Company in largely unexplored areas. Staking by the Company expanded the Kinsley property, consolidated access to the main mineralized trends to the North, and joined two previously separate claim blocks, creating a contiguous property.
The 2013 Kinsley work program includes 22,000 metres of core and RC drilling stepping out from the historic pits, and to test priority exploration targets on flanking and outlying targets. Nevada Sunrise Gold Corporation holds a 35% interest in Kinsley and will be responsible for its pro-rata share of costs for this year’s program.
Halilaga:
The Company holds a 40% interest in Halilaga, a copper-gold porphyry located 20 kilometres southeast of TV Tower. Halilaga advanced considerably during 2012, with an initial resource estimate, and the completion of a preliminary economic assessment (the “Halilaga PEA”).
Highlights of the Halilaga PEA (Base Case: USD$1,200/oz. Au and USD$2.90/lb. copper) include:
•Pre-tax IRR of 26%; After-tax IRR of 20%
•Pre-tax NPV7% of $675 million; After-tax NPV7% of $474 million
•2.1 year pre-tax payback; 2.7 year after-tax payback
The resource estimate at Halilaga includes (i) an Indicated sulphide resource of 1.112 billion pounds of copper at an average grade of 0.30% copper (168,167,000 tonnes), and 1.665 million ounces of gold at an average grade of 0.31 g/t gold, and (ii) an Inferred sulphide resource of 1.007 billion pounds of copper at an average grade of 0.23% copper (198,668,000 tonnes) and 1.661 million ounces of gold at an average grade of 0.26 g/t gold.
The Halilaga PEA suggests that conceptually, the project may be viable (within the very preliminary parameters of a PEA) with the commodity price assumptions included therein relative to today's cost environment. The illustrative project would use conventional open pit mining (with an approximate 1:1 strip ratio), and standard milling and flotation processing for recovery of copper and gold. A subsidiary of Teck holds 60% of Halilaga and is project operator. In 2013 we plan to continue strategic studies including economic, metallurgical, hydrological, environmental and engineering analyses to support the conceptual economics and potential of this porphyry project.
The Halilaga PEA is preliminary in nature. The mineral resources used in the Life of Mine plan and economic analysis include 56% Indicated mineral resources, and 44% Inferred mineral resources. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral reserves can only be estimated as a result of an economic evaluation as part of a Pre-Feasibility Study or a Feasibility Study of a mineral project. Accordingly, at the present level of development there are no mineral reserves at Halilaga. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration or Mineral Reserves once economic considerations are applied. Therefore there is no certainty that the production profile concluded in the Halilaga PEA will be realized. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. Moira Smith, Ph.D., P.Geo, Pilot Gold Chief Geologist, is the Company's designated Qualified Person (‘QP”) for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed and validated that the scientific or technical information contained in this News Release related to the Halilaga PEA is consistent with that provided by the QPs responsible for the Halilaga PEA, and has verified the technical data disclosed in this document relating to those other projects in which the Company holds an interest. Dr. Smith has consented to the inclusion of the technical information in the form and context in which it appears in this News Release.
TV Tower and Kinsley are both early stage exploration projects.
Neither contain any mineral resource estimates as defined by NI 43-101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
For the year ended December 31, 2012, we reported a net loss of $8.02 million compared to a net loss of $11.84 million for the year ended December 31, 2011. The most significant contributors to the loss for the year ended December 31, 2012 were the cost of wages and benefits of $2.30 million (2011: $1.20 million), stock-based compensation of $1.72 million (2011: $5.9 million) and office and general expenses of $1.52 million (2011: $1.24 million).
Expenses for the year ended December 31, 2012 were offset by income recognized from management fees arising from our qualifying expenditures on the TV Tower project of $0.38 million (2011: $nil) and the reversal of a previous impairment of the VAT receivable in Turkey ($0.31 million). The loss per share for the year ended December 31, 2012 was $0.12 (December 31, 2011: $0.21).
Total assets increased significantly to $72.39 million as at December 31, 2012 (December 31, 2011: $37.49 million). The most significant increase reflects the (i) receipt of proceeds from the bought-deal financing and concurrent private placements that closed on November 1, 2012; and (ii) the values of the Common Shares and share purchase warrants issued to Teck to secure the earn-in option at TV Tower, off-set by those cash outflows for general exploration and administration activities and net changes to the value of our investments in public companies.
Liabilities at December 31, 2012 reflect primarily accounts payable and accruals recorded at year end arising from ongoing activities.
This press release should be read in conjunction with Pilot Gold’s audited consolidated financial statements and Management’s Discussion and Analysis for the year ended December 31, 2012. These documents can be found on the Company’s website (www.pilotgold.com) or under the Company’s profile on SEDAR at www.sedar.com. Shareholders may receive a printed copy of the audited consolidated financial statements, free of charge, upon request. All amounts are presented in United States dollars unless otherwise stated. Pilot Gold will be hosting its annual general meeting on May 9, 2013, in Vancouver, British Columbia.
ABOUT PILOT GOLD
Pilot Gold is a well-funded gold exploration company led by a proven technical team that continues to discover and define high-quality projects featuring strong grades, meaningful size and mining-friendly addresses. Our three key assets include interests in the TV Tower and Halilaga projects in Turkey, and the Kinsley Mountain project in Nevada, each of which has the ability to become a foundational asset. We also have a pipeline of projects characterized by large land positions and district-wide potential that can meet our growth needs for years to come.
March 28, 2013
Significant milestones achieved at key projects in Turkey, Nevada
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to announce its financial results and company highlights for the year ended December 31, 2012, a year marked by significant advances on each of its key projects in Turkey and Nevada.
2012 highlights and significant events subsequent to year end include:
•Signed an earn-in and joint venture agreement with Teck Resources Limited ("Teck") to become project operator at the TV Tower property in Turkey, while earning in to 60% interest
•Identified large, growing gold and silver zones at the KCD target, TV Tower
•Announced results of a preliminary economic assessment and a maiden resource estimate for the Halilaga copper-gold project in northwest Turkey
•Earned-in to a 65% interest in, and doubled property size at, the Kinsley Mountain project in Nevada
•Sold the Regent exploration property for $3 million, retaining exposure to potential future production
•Secured capital to ensure 2013 exploration plans are fully funded
“Pilot Gold realized significant exploration and project success in 2012,” stated Matt Lennox-King, Pilot Gold President & CEO. “We are in an excellent position heading into 2013, with the financial strength and the proven skills and experience we require to drive progress at our properties in Turkey and Nevada and achieve our vision of being the leading exploration company in our chosen jurisdictions.”
TV Tower:
Pilot Gold currently holds a 40% interest in the project and became project operator in 2012. Pursuant to the TV Tower Agreement, we hold an option to increase our interest in the project from 40% to 60%, subject to meeting certain requirements over the next three years. A subsidiary of Teck currently holds a 60% interest in TV Tower. We completed the $5 million first-year minimum earn-in expenditure commitment in January 2013, and issued 1,637,500 common shares to a subsidiary of Teck in connection with achieving this first milestone.
Since becoming project operator in June 2012, we completed 14,440 metres of drilling, comprising 70 diamond drill holes primarily focused on the KCD target. Drilling in 2012 at KCD has returned some of the highest-grade gold, silver and copper intercepts reported in northwestern Turkey. The program at TV Tower for 2013 includes 30,000 metres of core and RC drilling at multiple targets.
Kinsley:
Pilot Gold earned a 65% interest in Kinsley Mountain in February 2013. The 2012 program included 11,868 metres of infill and step-out core and reverse circulation (“RC”) drilling in 63 holes, and was designed to define and expand the mineralized zones identified by previous operators.
In conjunction with drilling, a comprehensive property-wide soil and rock sampling and geological mapping effort to identify new targets was completed, encompassing both the original 272 claims and 191 claims staked by the Company in largely unexplored areas. Staking by the Company expanded the Kinsley property, consolidated access to the main mineralized trends to the North, and joined two previously separate claim blocks, creating a contiguous property.
The 2013 Kinsley work program includes 22,000 metres of core and RC drilling stepping out from the historic pits, and to test priority exploration targets on flanking and outlying targets. Nevada Sunrise Gold Corporation holds a 35% interest in Kinsley and will be responsible for its pro-rata share of costs for this year’s program.
Halilaga:
The Company holds a 40% interest in Halilaga, a copper-gold porphyry located 20 kilometres southeast of TV Tower. Halilaga advanced considerably during 2012, with an initial resource estimate, and the completion of a preliminary economic assessment (the “Halilaga PEA”).
Highlights of the Halilaga PEA (Base Case: USD$1,200/oz. Au and USD$2.90/lb. copper) include:
•Pre-tax IRR of 26%; After-tax IRR of 20%
•Pre-tax NPV7% of $675 million; After-tax NPV7% of $474 million
•2.1 year pre-tax payback; 2.7 year after-tax payback
The resource estimate at Halilaga includes (i) an Indicated sulphide resource of 1.112 billion pounds of copper at an average grade of 0.30% copper (168,167,000 tonnes), and 1.665 million ounces of gold at an average grade of 0.31 g/t gold, and (ii) an Inferred sulphide resource of 1.007 billion pounds of copper at an average grade of 0.23% copper (198,668,000 tonnes) and 1.661 million ounces of gold at an average grade of 0.26 g/t gold.
The Halilaga PEA suggests that conceptually, the project may be viable (within the very preliminary parameters of a PEA) with the commodity price assumptions included therein relative to today's cost environment. The illustrative project would use conventional open pit mining (with an approximate 1:1 strip ratio), and standard milling and flotation processing for recovery of copper and gold. A subsidiary of Teck holds 60% of Halilaga and is project operator. In 2013 we plan to continue strategic studies including economic, metallurgical, hydrological, environmental and engineering analyses to support the conceptual economics and potential of this porphyry project.
The Halilaga PEA is preliminary in nature. The mineral resources used in the Life of Mine plan and economic analysis include 56% Indicated mineral resources, and 44% Inferred mineral resources. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral reserves can only be estimated as a result of an economic evaluation as part of a Pre-Feasibility Study or a Feasibility Study of a mineral project. Accordingly, at the present level of development there are no mineral reserves at Halilaga. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration or Mineral Reserves once economic considerations are applied. Therefore there is no certainty that the production profile concluded in the Halilaga PEA will be realized. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. Moira Smith, Ph.D., P.Geo, Pilot Gold Chief Geologist, is the Company's designated Qualified Person (‘QP”) for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed and validated that the scientific or technical information contained in this News Release related to the Halilaga PEA is consistent with that provided by the QPs responsible for the Halilaga PEA, and has verified the technical data disclosed in this document relating to those other projects in which the Company holds an interest. Dr. Smith has consented to the inclusion of the technical information in the form and context in which it appears in this News Release.
TV Tower and Kinsley are both early stage exploration projects.
Neither contain any mineral resource estimates as defined by NI 43-101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
For the year ended December 31, 2012, we reported a net loss of $8.02 million compared to a net loss of $11.84 million for the year ended December 31, 2011. The most significant contributors to the loss for the year ended December 31, 2012 were the cost of wages and benefits of $2.30 million (2011: $1.20 million), stock-based compensation of $1.72 million (2011: $5.9 million) and office and general expenses of $1.52 million (2011: $1.24 million).
Expenses for the year ended December 31, 2012 were offset by income recognized from management fees arising from our qualifying expenditures on the TV Tower project of $0.38 million (2011: $nil) and the reversal of a previous impairment of the VAT receivable in Turkey ($0.31 million). The loss per share for the year ended December 31, 2012 was $0.12 (December 31, 2011: $0.21).
Total assets increased significantly to $72.39 million as at December 31, 2012 (December 31, 2011: $37.49 million). The most significant increase reflects the (i) receipt of proceeds from the bought-deal financing and concurrent private placements that closed on November 1, 2012; and (ii) the values of the Common Shares and share purchase warrants issued to Teck to secure the earn-in option at TV Tower, off-set by those cash outflows for general exploration and administration activities and net changes to the value of our investments in public companies.
Liabilities at December 31, 2012 reflect primarily accounts payable and accruals recorded at year end arising from ongoing activities.
This press release should be read in conjunction with Pilot Gold’s audited consolidated financial statements and Management’s Discussion and Analysis for the year ended December 31, 2012. These documents can be found on the Company’s website (www.pilotgold.com) or under the Company’s profile on SEDAR at www.sedar.com. Shareholders may receive a printed copy of the audited consolidated financial statements, free of charge, upon request. All amounts are presented in United States dollars unless otherwise stated. Pilot Gold will be hosting its annual general meeting on May 9, 2013, in Vancouver, British Columbia.
ABOUT PILOT GOLD
Pilot Gold is a well-funded gold exploration company led by a proven technical team that continues to discover and define high-quality projects featuring strong grades, meaningful size and mining-friendly addresses. Our three key assets include interests in the TV Tower and Halilaga projects in Turkey, and the Kinsley Mountain project in Nevada, each of which has the ability to become a foundational asset. We also have a pipeline of projects characterized by large land positions and district-wide potential that can meet our growth needs for years to come.
Und heute passt auch der Goldpreis!
Antwort auf Beitrag Nr.: 44.233.141 von prallhans am 09.03.13 11:52:51Hier kommt die neueste News :-))
Pilot Gold drills 25.7 g/t gold over 16.5 metres, further demonstrating high-grade continuity at KCD Target, TV Tower
March 19, 2013
13-08
Successful 2012 drill program identifies and expands gold and silver mineralization
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to report encouraging results from the 15 remaining diamond core holes from its Phase 1 drilling program at TV Tower’s KCD target in northwestern Turkey. The holes are wide-spread across the property and targeted KCD’s gold and silver zones.
Infill drilling highlights include:
•25.7 g/t gold (Au), 47.2 g/t silver (Ag) and 2.12% copper (Cu) over 16.5 metres in KCD-102, including
o 142 g/t Au, 141 g/t Ag and 3.39% Cu over 2.0 metres
•13.9 g/t Au over 6.3 metres in KCD-99
Drill holes KCD-99 and KCD-102 were designed to demonstrate continuity and establish the thickness and orientation of a zone of high-grade mineralization originally discovered in KCD-50 (227 g/t gold over 12.0 metres; see media release dated Jan. 22, 2013). Drill results to date support the interpretation that this zone of high grade is continuous over a significant area.
Exploration drilling highlights include:
•4.71 g/t Au and 71.7 g/t Ag over 8.5 metres and 2.93 g/t Au over 8.0 metres in KCD-95
Drill holes KCD-95 and KCD-107 tested the gold and silver zones north and east of the current target footprint. KCD-95 was drilled northeast and down dip of KCD-75 in the southeastern portion of the gold mineralized zone. KCD-107, drilled approximately 150 metres to the northeast of KCD-95 in an area with no previous drilling, returned 0.32 g/t gold over 19.0 metres. The presence of gold over a significant interval in this location considerably extends the potential for additional mineralization beyond the limits of previous drilling, and merits further drilling to ascertain its significance.
“We have completed Phase 1 drilling on a very positive note, by demonstrating continuity of the high grades intercepted in KCD-50,” said Matt Lennox-King, President and CEO, Pilot Gold. “Our first program as operator has confirmed a large, central gold zone overlain by a robust silver blanket. Both remain open in multiple directions and will be aggressively followed-up in our upcoming drill program.”
For a comprehensive table of results related to gold mineralization, please click:
http://www.pilotgold.com/sites/default/files/TVTowerDrillRes…
For a map highlighting recent drilling, please click:
http://www.pilotgold.com/sites/default/files/TVTowerDrillMap…
Approximately 14,440 metres in 70 holes at KCD were completed since the program commenced in June 2012, with all assays now received and publicly released. Drilling was suspended in early February due to winter weather, and will resume in late March.
Project summary
As the project operator since June 2012, Pilot Gold designed and conducted a comprehensive, systematic, property-wide exploration program composed of grid-based soil sampling, regional prospecting and rock sampling, airborne electromagnetic and magnetic surveys, and geological mapping. The program was implemented to refine and discover new targets on the property.
The exploration work resulted in several targets being upgraded to drill-ready at TV Tower. In addition, new target types were identified, including low-sulphidation gold-silver veins with bonanza grades obtained in surface sampling.
The drilling program on KCD successfully extended gold, silver and copper mineralization in all directions from early holes KCD-02 through KCD-05. Gold was encountered in drilling over an area now measuring approximately 400 metres x 250 metres, overlain by a zone of continuous silver mineralization now measuring approximately 600 metres x 400 metres.
Significant drill intercepts included:
•KCD-39: 5.94 g/t Au, 12.64 g/t Ag, 0.53% Cu over 137.1 metres, including 18.88 g/t Au over 27 metres: Starting in breccia identified in discovery hole KCD-002, the hole quickly transitioned into volcaniclastic rocks and encountered new mineralization in a stratiform vuggy silica zone, signifying that mineralization could be traced well beyond the boundary of the breccia.
•KCD-50: 227 g/t Au over 12.0 metres: Collared 70 metres northwest of KCD-39, the hole intercepted shallowly dipping veins bearing visible gold. The results, in conjunction with observations from other nearby holes, showed the presence of widespread, vein-hosted gold mineralization.
•KCD-104: 69.0 g/t Ag over 94.0 metres, including 255 g/t Ag over 18.1 metres: The most westerly hole of the silver blanket also returned some of the strongest grades. The silver zone remains open to the west and north.
Significant structural and stratigraphic complexities, complex distribution and styles of mineralization, and localized high gold grades were encountered in the gold zone. Therefore, the average density of drill intercepts was reduced from 50-metre centres (anticipated in the original drill plan) to 20- to 30-metre centres in order to adequately test the distribution and controls on mineralization. The gold zone is still open down-dip to the north and to the northwest. The silver zone is largely separate from the gold zone, and its distribution appears to be largely focused on an interval of fluvial-lacustrine strata overlying the gold zone. The silver zone is open to the north and west, with some of the thickest and highest-grade intercepts returned from holes drilled on the western edge of the zone.
“Our first eight months as operator at TV Tower has been very productive and led to a new and deeper understanding of the KCD target,” said Moira Smith, Chief Geologist, Pilot Gold. “We are looking forward to further testing of KCD in 2013, building towards an initial resource estimate by year-end.”
2013 program
The 2013 exploration program at TV Tower is designed to build upon strong successes in 2012 and will include the following:
•15,000 metres of infill and step-out drilling, metallurgical testing, check assaying, geologic mapping and target refinement at KCD
•7,500 metres of drilling at the Kayali gold oxide target, located eight kilometres south of the KCD target. This target was previously drill tested, returning 0.87 g/t gold over 114.5 metres in KYD-01
•7,500 metres of drilling at the Columbaz low sulphidation gold-silver vein target, located two kilometres south of KCD
•Continued geological mapping, prospecting, rock sampling, infill soil sampling and other activities related to property-wide target definition
About TV Tower:
TV Tower is a joint venture between Pilot Gold (40%) and Teck Madencilik Sanayi Ticaret A.S. (60%), a Turkish subsidiary of Teck Resources Limited (“Teck”). Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60%, through sole funding of exploration over a three-year period. (See press release dated June 21, 2012 for full details of the agreement terms.)
Located on the Biga Peninsula in northwest Turkey, TV Tower encompasses 71 square kilometres. It contains a large number of targets ranging from high- and low-sulphidation epithermal gold-silver to porphyry gold-copper. The project has an extensive road network and targets to date all lie on land administered by Turkey’s Ministry of Forestry. It is located immediately west of the Kirazli gold project (Alamos Gold) and approximately 10 kilometres northwest of the Halilaga copper-gold project (Teck/Pilot Gold).
Moira Smith, Ph.D., P.Geo., Chief Geologist, Pilot Gold, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is accurate. Drill composites were calculated using cut-offs of 0.3, 3.0 and 10.0 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 50-100% of the reported lengths. Drill samples were assayed by AcmeLabs in Ankara, Turkey and Vancouver, B.C. for gold by Fire Assay of a 30 gram (1 assay ton) charge with ICP-ES or AAS finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. Ag and Cu were determined by ICP-MS, with overlimits (>100 ppm Ag or >10,000 ppm Cu) completed by fire assay with gravimetric finish (Ag) or 4-acid digestion with ICP-ES finish (Cu). QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.
TV Tower is an early stage exploration project and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
ABOUT PILOT GOLD
Pilot Gold is a well-funded gold exploration company led by a proven technical team that continues to discover and define high-quality projects featuring strong grades, meaningful size and mining-friendly addresses. Our three key assets include interests in the TV Tower and Halilaga projects in Turkey, and the Kinsley Mountain project in Nevada, each of which has the ability to become a foundational asset. We also have a pipeline of projects characterized by large land positions and district-wide potential that can meet our growth needs for years to come.
Gruß, Seinfeld
Pilot Gold drills 25.7 g/t gold over 16.5 metres, further demonstrating high-grade continuity at KCD Target, TV Tower
March 19, 2013
13-08
Successful 2012 drill program identifies and expands gold and silver mineralization
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to report encouraging results from the 15 remaining diamond core holes from its Phase 1 drilling program at TV Tower’s KCD target in northwestern Turkey. The holes are wide-spread across the property and targeted KCD’s gold and silver zones.
Infill drilling highlights include:
•25.7 g/t gold (Au), 47.2 g/t silver (Ag) and 2.12% copper (Cu) over 16.5 metres in KCD-102, including
o 142 g/t Au, 141 g/t Ag and 3.39% Cu over 2.0 metres
•13.9 g/t Au over 6.3 metres in KCD-99
Drill holes KCD-99 and KCD-102 were designed to demonstrate continuity and establish the thickness and orientation of a zone of high-grade mineralization originally discovered in KCD-50 (227 g/t gold over 12.0 metres; see media release dated Jan. 22, 2013). Drill results to date support the interpretation that this zone of high grade is continuous over a significant area.
Exploration drilling highlights include:
•4.71 g/t Au and 71.7 g/t Ag over 8.5 metres and 2.93 g/t Au over 8.0 metres in KCD-95
Drill holes KCD-95 and KCD-107 tested the gold and silver zones north and east of the current target footprint. KCD-95 was drilled northeast and down dip of KCD-75 in the southeastern portion of the gold mineralized zone. KCD-107, drilled approximately 150 metres to the northeast of KCD-95 in an area with no previous drilling, returned 0.32 g/t gold over 19.0 metres. The presence of gold over a significant interval in this location considerably extends the potential for additional mineralization beyond the limits of previous drilling, and merits further drilling to ascertain its significance.
“We have completed Phase 1 drilling on a very positive note, by demonstrating continuity of the high grades intercepted in KCD-50,” said Matt Lennox-King, President and CEO, Pilot Gold. “Our first program as operator has confirmed a large, central gold zone overlain by a robust silver blanket. Both remain open in multiple directions and will be aggressively followed-up in our upcoming drill program.”
For a comprehensive table of results related to gold mineralization, please click:
http://www.pilotgold.com/sites/default/files/TVTowerDrillRes…
For a map highlighting recent drilling, please click:
http://www.pilotgold.com/sites/default/files/TVTowerDrillMap…
Approximately 14,440 metres in 70 holes at KCD were completed since the program commenced in June 2012, with all assays now received and publicly released. Drilling was suspended in early February due to winter weather, and will resume in late March.
Project summary
As the project operator since June 2012, Pilot Gold designed and conducted a comprehensive, systematic, property-wide exploration program composed of grid-based soil sampling, regional prospecting and rock sampling, airborne electromagnetic and magnetic surveys, and geological mapping. The program was implemented to refine and discover new targets on the property.
The exploration work resulted in several targets being upgraded to drill-ready at TV Tower. In addition, new target types were identified, including low-sulphidation gold-silver veins with bonanza grades obtained in surface sampling.
The drilling program on KCD successfully extended gold, silver and copper mineralization in all directions from early holes KCD-02 through KCD-05. Gold was encountered in drilling over an area now measuring approximately 400 metres x 250 metres, overlain by a zone of continuous silver mineralization now measuring approximately 600 metres x 400 metres.
Significant drill intercepts included:
•KCD-39: 5.94 g/t Au, 12.64 g/t Ag, 0.53% Cu over 137.1 metres, including 18.88 g/t Au over 27 metres: Starting in breccia identified in discovery hole KCD-002, the hole quickly transitioned into volcaniclastic rocks and encountered new mineralization in a stratiform vuggy silica zone, signifying that mineralization could be traced well beyond the boundary of the breccia.
•KCD-50: 227 g/t Au over 12.0 metres: Collared 70 metres northwest of KCD-39, the hole intercepted shallowly dipping veins bearing visible gold. The results, in conjunction with observations from other nearby holes, showed the presence of widespread, vein-hosted gold mineralization.
•KCD-104: 69.0 g/t Ag over 94.0 metres, including 255 g/t Ag over 18.1 metres: The most westerly hole of the silver blanket also returned some of the strongest grades. The silver zone remains open to the west and north.
Significant structural and stratigraphic complexities, complex distribution and styles of mineralization, and localized high gold grades were encountered in the gold zone. Therefore, the average density of drill intercepts was reduced from 50-metre centres (anticipated in the original drill plan) to 20- to 30-metre centres in order to adequately test the distribution and controls on mineralization. The gold zone is still open down-dip to the north and to the northwest. The silver zone is largely separate from the gold zone, and its distribution appears to be largely focused on an interval of fluvial-lacustrine strata overlying the gold zone. The silver zone is open to the north and west, with some of the thickest and highest-grade intercepts returned from holes drilled on the western edge of the zone.
“Our first eight months as operator at TV Tower has been very productive and led to a new and deeper understanding of the KCD target,” said Moira Smith, Chief Geologist, Pilot Gold. “We are looking forward to further testing of KCD in 2013, building towards an initial resource estimate by year-end.”
2013 program
The 2013 exploration program at TV Tower is designed to build upon strong successes in 2012 and will include the following:
•15,000 metres of infill and step-out drilling, metallurgical testing, check assaying, geologic mapping and target refinement at KCD
•7,500 metres of drilling at the Kayali gold oxide target, located eight kilometres south of the KCD target. This target was previously drill tested, returning 0.87 g/t gold over 114.5 metres in KYD-01
•7,500 metres of drilling at the Columbaz low sulphidation gold-silver vein target, located two kilometres south of KCD
•Continued geological mapping, prospecting, rock sampling, infill soil sampling and other activities related to property-wide target definition
About TV Tower:
TV Tower is a joint venture between Pilot Gold (40%) and Teck Madencilik Sanayi Ticaret A.S. (60%), a Turkish subsidiary of Teck Resources Limited (“Teck”). Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60%, through sole funding of exploration over a three-year period. (See press release dated June 21, 2012 for full details of the agreement terms.)
Located on the Biga Peninsula in northwest Turkey, TV Tower encompasses 71 square kilometres. It contains a large number of targets ranging from high- and low-sulphidation epithermal gold-silver to porphyry gold-copper. The project has an extensive road network and targets to date all lie on land administered by Turkey’s Ministry of Forestry. It is located immediately west of the Kirazli gold project (Alamos Gold) and approximately 10 kilometres northwest of the Halilaga copper-gold project (Teck/Pilot Gold).
Moira Smith, Ph.D., P.Geo., Chief Geologist, Pilot Gold, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is accurate. Drill composites were calculated using cut-offs of 0.3, 3.0 and 10.0 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 50-100% of the reported lengths. Drill samples were assayed by AcmeLabs in Ankara, Turkey and Vancouver, B.C. for gold by Fire Assay of a 30 gram (1 assay ton) charge with ICP-ES or AAS finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. Ag and Cu were determined by ICP-MS, with overlimits (>100 ppm Ag or >10,000 ppm Cu) completed by fire assay with gravimetric finish (Ag) or 4-acid digestion with ICP-ES finish (Cu). QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.
TV Tower is an early stage exploration project and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
ABOUT PILOT GOLD
Pilot Gold is a well-funded gold exploration company led by a proven technical team that continues to discover and define high-quality projects featuring strong grades, meaningful size and mining-friendly addresses. Our three key assets include interests in the TV Tower and Halilaga projects in Turkey, and the Kinsley Mountain project in Nevada, each of which has the ability to become a foundational asset. We also have a pipeline of projects characterized by large land positions and district-wide potential that can meet our growth needs for years to come.
Gruß, Seinfeld
heute 9,8% plus. das ist doch schön. vielleicht stehen ja wieder meldungen an?
Schon wieder !!! Kam gerade per Email:
Large near-surface silver zone identified at KCD target in western Turkey
February 4, 2013
Silver zone at TV Tower includes intercepts up to 110.6 metres averaging 69.8 g/t silver
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to highlight drill results focused on a substantial, near-surface zone of silver-only mineralization that overlies the high-grade gold-silver-copper zone at the KCD target at TV Tower described in previous Pilot Gold news releases. While Pilot Gold continues to prioritize the gold-silver-copper zone, a significant silver zone has been identified in drill holes extending over an area measuring more than 500 metres by 300 metres, and up to 100 metres thick.
Silver drill highlights include:
69.8 g/t silver (Ag) over 110.6 metres in KCD-66, including
87.1 g/t Ag over 71.0 metres
52.1 g/t Ag over 111.8 metres in KCD-68, including
150 g/t Ag over 8.3 metres
71.2 g/t Ag over 53.8 metres in KCD-43
63.8 g/t Ag over 76.5 metres in KCD-74
“While shallow, silver-only mineralization was identified in some of the earliest drill holes at the KCD target, the potential size and significance of this zone is only now being recognized,” said Moira Smith, Pilot Gold’s Chief Geologist. “Many of the drill holes targeting the gold zone passed through the silver zone. Drilling will now include further attention to the silver zone itself, in order to understand its full extent and significance.”
The silver zone partially overlaps and overlies the gold-silver-copper zone of mineralization (as described in previous press releases). The silver zone consists of a gently north-dipping, tabular zone of mineralization that has been tested by holes spaced 50 to 100 metres over an area measuring approximately 500 by 300 metres. It is exposed on surface along the southern margin of the zone, and under shallow cover further to the north. The zone is open to the west, east and down dip to the north. The upper portion of the zone and near-surface areas are extensively oxidized.
Silver mineralization is hosted in fluvial-lacustrine strata including reworked volcaniclastic rocks, siltstone, mudstone and overlying andesite, and consists of very fine-grained disseminated to semi-massive and vein-hosted pyrite and lesser enargite, accompanied by variable silicification of the host rocks. Silver-bearing minerals have not been conclusively identified and await further study by thin section.
Silver mineralization may slightly pre-date gold mineralization based on paragenetic relationships. Silver grade appears to be related to sulphide content, with semi-massive zones often hosting individual assay intervals returning 100 g/t Ag to 300 g/t Ag or more. Some low-grade copper mineralization is also associated with this zone. Pilot Gold has commenced a metallurgical program to characterize the nature of the silver mineralization and identify appropriate extraction methods for both the oxide and sulphide silver mineralization.
“We are very pleased with TV Tower’s gold drill results to date and the recent expansion of our high-grade gold target through step-out drilling,” said Matt Lennox-King, President & CEO, Pilot Gold. “While gold will continue to be our priority, we are also seeing strong silver results that could help unlock further value for TV Tower going forward.”
All true widths are 50-100% of reported widths unless otherwise stated. All intervals of no sampling have been assigned zero grade for the purposes of compositing. For a comprehensive table of results related to silver mineralization, please click: http://www.pilotgold.com/sites/default/files/TVTowerDrillRes… The attached table contains intervals referenced specifically to silver for all holes drilled to date in 2012. These results have not been released in this form previously, and represent newly calculated intervals for 54 drill holes.
For a map highlighting recent drilling, please click: http://www.pilotgold.com/sites/default/files/TVTowerDrillMap…
The drill results form part of an aggressive exploration program consisting of 16,000 metres of diamond core drilling, property-wide airborne magnetic/EM geophysics and ongoing surface mapping and geochemical sampling. Approximately 14,000 metres in 69 holes at KCD have been completed since the program started in June 2012, with assays pending for 14 holes. Drilling in the near-term will continue to focus on infill and step-out drilling in the KCD target area.
Pilot Gold plans to undertake 25,000 to 30,000 metres drilling (total) at the KCD, Kayali and Sarp/Columbaz targets in 2013.
About TV Tower:
TV Tower is a joint venture between Pilot Gold (40%) and Teck Madencilik Sanayi Ticaret A.S. (60%), a Turkish subsidiary of Teck Resources Limited (“Teck”). Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60%, through sole funding of exploration over a three-year period. (See press release dated September 12, 2012 for full details of the deal terms.)
Located on the Biga Peninsula of northwest Turkey, the TV Tower project encompasses 71 square kilometres. It contains a large number of targets ranging from high- and low-sulphidation epithermal gold-silver to porphyry gold-copper. The project has an extensive road network and targets to date all lie on land administered by Turkey’s Ministry of Forestry. It is located immediately west of the Kirazli gold project (Alamos Gold) and approximately 10 kilometres northwest of the Halilaga copper-gold project (Teck/Pilot Gold).
First pass drilling in 2010 resulted in new discoveries at the KCD and Kayali epithermal gold systems. Ongoing exploration by Pilot Gold continues to uncover robust new targets, including the bonanza-grade Columbaz low sulphidation epithermal vein system that returned 39 g/t gold and 290 g/t silver in 2012 rock chip sampling.
TV Tower is an early stage exploration project and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
Moira Smith, Ph.D., P.Geo., Chief Geologist, Pilot Gold, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is accurate. Drill composites were calculated using cut-offs of 10, 50 and 100 g/t Ag. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 50-100% of the reported lengths. Drill samples were assayed by AcmeLabs in Ankara, Turkey and Vancouver, B.C. for gold by Fire Assay of a 30 gram (1 assay ton) charge with ICP-ES or AAS finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. Metallic screen techniques were employed to assay a 12-metre interval in KCD-50. Approximately 500 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. Ag and Cu were determined by aqua regia ICP-MS, with overlimits (>100 ppm Ag or >10,000 ppm Cu) completed by fire assay with gravimetric finish (Ag) or 4-acid digestion with ICP-ES (Cu). QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.
ABOUT PILOT GOLD
Pilot Gold is a well-funded gold exploration company led by a proven technical team that continues to discover and define high-quality projects featuring strong grades, meaningful size and mining-friendly addresses. Our three key assets include interests in the TV Tower and Halilaga projects in Turkey, and the Kinsley Mountain project in Nevada, each of which has the ability to become a foundational asset. We also have a pipeline of projects characterized by large land positions and district-wide potential that can meet our growth needs for years to come.
For more information, visit www.pilotgold.com or contact:
Investors:
Patrick Reid, VP Corporate Development
Phone: 604-632-4677 or Toll Free 1-877-632-4677
info@pilotgold.com
Media:
Ian Noble, Director, Corporate Communications
Phone: 604-809-8750
inoble@oxygencapitalcorp.com
Further information is available in the technical report entitled "Updated Technical Report on the TV Tower Exploration Property, Çanakkale, Western Turkey”, effective July 15, 2012 and dated August 3, 2012, prepared by Paul Gribble, B.Sc., C.Eng., FIMMM, UK Manager, Geology of Tetra Tech WEI Inc., under Pilot Gold’s Issuer Profile on SEDAR (www.sedar.com).
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Pilot Gold within the meaning of applicable securities laws, including statements that address timing of exploration and development plans at the Company’s mineral projects. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, copper, silver and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Pilot Gold and there is no assurance they will prove to be correct.
Large near-surface silver zone identified at KCD target in western Turkey
February 4, 2013
Silver zone at TV Tower includes intercepts up to 110.6 metres averaging 69.8 g/t silver
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to highlight drill results focused on a substantial, near-surface zone of silver-only mineralization that overlies the high-grade gold-silver-copper zone at the KCD target at TV Tower described in previous Pilot Gold news releases. While Pilot Gold continues to prioritize the gold-silver-copper zone, a significant silver zone has been identified in drill holes extending over an area measuring more than 500 metres by 300 metres, and up to 100 metres thick.
Silver drill highlights include:
69.8 g/t silver (Ag) over 110.6 metres in KCD-66, including
87.1 g/t Ag over 71.0 metres
52.1 g/t Ag over 111.8 metres in KCD-68, including
150 g/t Ag over 8.3 metres
71.2 g/t Ag over 53.8 metres in KCD-43
63.8 g/t Ag over 76.5 metres in KCD-74
“While shallow, silver-only mineralization was identified in some of the earliest drill holes at the KCD target, the potential size and significance of this zone is only now being recognized,” said Moira Smith, Pilot Gold’s Chief Geologist. “Many of the drill holes targeting the gold zone passed through the silver zone. Drilling will now include further attention to the silver zone itself, in order to understand its full extent and significance.”
The silver zone partially overlaps and overlies the gold-silver-copper zone of mineralization (as described in previous press releases). The silver zone consists of a gently north-dipping, tabular zone of mineralization that has been tested by holes spaced 50 to 100 metres over an area measuring approximately 500 by 300 metres. It is exposed on surface along the southern margin of the zone, and under shallow cover further to the north. The zone is open to the west, east and down dip to the north. The upper portion of the zone and near-surface areas are extensively oxidized.
Silver mineralization is hosted in fluvial-lacustrine strata including reworked volcaniclastic rocks, siltstone, mudstone and overlying andesite, and consists of very fine-grained disseminated to semi-massive and vein-hosted pyrite and lesser enargite, accompanied by variable silicification of the host rocks. Silver-bearing minerals have not been conclusively identified and await further study by thin section.
Silver mineralization may slightly pre-date gold mineralization based on paragenetic relationships. Silver grade appears to be related to sulphide content, with semi-massive zones often hosting individual assay intervals returning 100 g/t Ag to 300 g/t Ag or more. Some low-grade copper mineralization is also associated with this zone. Pilot Gold has commenced a metallurgical program to characterize the nature of the silver mineralization and identify appropriate extraction methods for both the oxide and sulphide silver mineralization.
“We are very pleased with TV Tower’s gold drill results to date and the recent expansion of our high-grade gold target through step-out drilling,” said Matt Lennox-King, President & CEO, Pilot Gold. “While gold will continue to be our priority, we are also seeing strong silver results that could help unlock further value for TV Tower going forward.”
All true widths are 50-100% of reported widths unless otherwise stated. All intervals of no sampling have been assigned zero grade for the purposes of compositing. For a comprehensive table of results related to silver mineralization, please click: http://www.pilotgold.com/sites/default/files/TVTowerDrillRes… The attached table contains intervals referenced specifically to silver for all holes drilled to date in 2012. These results have not been released in this form previously, and represent newly calculated intervals for 54 drill holes.
For a map highlighting recent drilling, please click: http://www.pilotgold.com/sites/default/files/TVTowerDrillMap…
The drill results form part of an aggressive exploration program consisting of 16,000 metres of diamond core drilling, property-wide airborne magnetic/EM geophysics and ongoing surface mapping and geochemical sampling. Approximately 14,000 metres in 69 holes at KCD have been completed since the program started in June 2012, with assays pending for 14 holes. Drilling in the near-term will continue to focus on infill and step-out drilling in the KCD target area.
Pilot Gold plans to undertake 25,000 to 30,000 metres drilling (total) at the KCD, Kayali and Sarp/Columbaz targets in 2013.
About TV Tower:
TV Tower is a joint venture between Pilot Gold (40%) and Teck Madencilik Sanayi Ticaret A.S. (60%), a Turkish subsidiary of Teck Resources Limited (“Teck”). Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60%, through sole funding of exploration over a three-year period. (See press release dated September 12, 2012 for full details of the deal terms.)
Located on the Biga Peninsula of northwest Turkey, the TV Tower project encompasses 71 square kilometres. It contains a large number of targets ranging from high- and low-sulphidation epithermal gold-silver to porphyry gold-copper. The project has an extensive road network and targets to date all lie on land administered by Turkey’s Ministry of Forestry. It is located immediately west of the Kirazli gold project (Alamos Gold) and approximately 10 kilometres northwest of the Halilaga copper-gold project (Teck/Pilot Gold).
First pass drilling in 2010 resulted in new discoveries at the KCD and Kayali epithermal gold systems. Ongoing exploration by Pilot Gold continues to uncover robust new targets, including the bonanza-grade Columbaz low sulphidation epithermal vein system that returned 39 g/t gold and 290 g/t silver in 2012 rock chip sampling.
TV Tower is an early stage exploration project and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
Moira Smith, Ph.D., P.Geo., Chief Geologist, Pilot Gold, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is accurate. Drill composites were calculated using cut-offs of 10, 50 and 100 g/t Ag. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 50-100% of the reported lengths. Drill samples were assayed by AcmeLabs in Ankara, Turkey and Vancouver, B.C. for gold by Fire Assay of a 30 gram (1 assay ton) charge with ICP-ES or AAS finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. Metallic screen techniques were employed to assay a 12-metre interval in KCD-50. Approximately 500 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. Ag and Cu were determined by aqua regia ICP-MS, with overlimits (>100 ppm Ag or >10,000 ppm Cu) completed by fire assay with gravimetric finish (Ag) or 4-acid digestion with ICP-ES (Cu). QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.
ABOUT PILOT GOLD
Pilot Gold is a well-funded gold exploration company led by a proven technical team that continues to discover and define high-quality projects featuring strong grades, meaningful size and mining-friendly addresses. Our three key assets include interests in the TV Tower and Halilaga projects in Turkey, and the Kinsley Mountain project in Nevada, each of which has the ability to become a foundational asset. We also have a pipeline of projects characterized by large land positions and district-wide potential that can meet our growth needs for years to come.
For more information, visit www.pilotgold.com or contact:
Investors:
Patrick Reid, VP Corporate Development
Phone: 604-632-4677 or Toll Free 1-877-632-4677
info@pilotgold.com
Media:
Ian Noble, Director, Corporate Communications
Phone: 604-809-8750
inoble@oxygencapitalcorp.com
Further information is available in the technical report entitled "Updated Technical Report on the TV Tower Exploration Property, Çanakkale, Western Turkey”, effective July 15, 2012 and dated August 3, 2012, prepared by Paul Gribble, B.Sc., C.Eng., FIMMM, UK Manager, Geology of Tetra Tech WEI Inc., under Pilot Gold’s Issuer Profile on SEDAR (www.sedar.com).
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Pilot Gold within the meaning of applicable securities laws, including statements that address timing of exploration and development plans at the Company’s mineral projects. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, copper, silver and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Pilot Gold and there is no assurance they will prove to be correct.
Trading Spotlight
Ja,wieder sehr gute News.Würde jetzt trotzdem nicht mehr einsteigen,für einen reinen Explorer,mit einem nur 40% Anteil an TV Tower,ist mir eine MarketCap von fast 200 Mio CAD zu hoch.Aber wenn der Kurs nochmal 30-50% zurückkommt überleg ich mir vieleicht auch einen Einstieg.
Antwort auf Beitrag Nr.: 44.049.476 von prallhans am 22.01.13 15:58:20... und wieder eine News (auszugsweise)
Pilot Gold reports 2.33 g/t gold over 93.5 metres in step-out drilling at TV Tower
January 29, 2013
Drilling extends gold mineralization 40 metres to the southeast, reveals
additional high-grade infill intercepts in north-central portion of the gold zone
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to report additional results from seven diamond core holes from its ongoing drilling of TV Tower’s KCD target in northwestern Turkey. In particular, step-out drilling in the southeast portion of the KCD target returned significant intervals of moderate to high-grade gold in three holes.
Southeast step-out drill highlights include:
•2.33 g/t gold (Au) over 93.5 metres in KCD-75, including
o 17.4 g/t Au over 3.5 metres
•1.79 g/t Au over 78.6 metres in KCD-89, including
o 7.01 g/t Au over 6.0 metres
•1.94 g/t Au over 14.3 metres in KCD-73, and
o 1.12 g/t Au over 14.5 metres, and
o 1.29 g/t Au over 11.5 metres
Core holes KCD-73 and KCD-75 were fanned from a single drill pad located approximately 40 metres southeast of KCD-65 (2.79 g/t Au over 61.3 metres, including 8.64 g/t Au over 10.5 metres). The results further extend the strike extent of the gold zone at KCD to over 350 metres. An additional hole was drilled down-dip to the northeast of KCD-75, with results pending. KCD-89 tested the down-dip extension to the northeast of mineralization in KCD-65, from the same pad. Additional drilling will test for gold mineralization further down-dip to the northeast of this hole.
High-grade infill drill highlights include:
•
2.11 g/t Au over 58.0 metres in KCD-90, including
o 11.6 g/t Au over 7.9 metres
•
3.47 g/t Au, 63.1 g/t silver (Ag), 1.01% Copper (Cu) over 23.9 metres in KCD-86; including
o 5.23 g/t Au, 103.8 g/t Ag, 1.74% Cu over 11.6 metres
Infill core holes KCD-86 and KCD-90 tested the area between recently reported KCD-79 (14.9 g/t Au over 14.1 metres) and KCD-50 (227 g/t Au over 12.0 metres) in the north-central portion of the gold mineralized zone and returned high-grade gold. Significantly, KCD-86 also intercepted high grades of silver and copper.
“Systematic drilling guided by the geological model continues to extend the mineralization at the KCD target,” said Matt Lennox-King, President and CEO, Pilot Gold. “The gold-mineralized system remains very much open down-dip to the north and along strike to the northwest.”
Gruß, Seinfeld
Pilot Gold reports 2.33 g/t gold over 93.5 metres in step-out drilling at TV Tower
January 29, 2013
Drilling extends gold mineralization 40 metres to the southeast, reveals
additional high-grade infill intercepts in north-central portion of the gold zone
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to report additional results from seven diamond core holes from its ongoing drilling of TV Tower’s KCD target in northwestern Turkey. In particular, step-out drilling in the southeast portion of the KCD target returned significant intervals of moderate to high-grade gold in three holes.
Southeast step-out drill highlights include:
•2.33 g/t gold (Au) over 93.5 metres in KCD-75, including
o 17.4 g/t Au over 3.5 metres
•1.79 g/t Au over 78.6 metres in KCD-89, including
o 7.01 g/t Au over 6.0 metres
•1.94 g/t Au over 14.3 metres in KCD-73, and
o 1.12 g/t Au over 14.5 metres, and
o 1.29 g/t Au over 11.5 metres
Core holes KCD-73 and KCD-75 were fanned from a single drill pad located approximately 40 metres southeast of KCD-65 (2.79 g/t Au over 61.3 metres, including 8.64 g/t Au over 10.5 metres). The results further extend the strike extent of the gold zone at KCD to over 350 metres. An additional hole was drilled down-dip to the northeast of KCD-75, with results pending. KCD-89 tested the down-dip extension to the northeast of mineralization in KCD-65, from the same pad. Additional drilling will test for gold mineralization further down-dip to the northeast of this hole.
High-grade infill drill highlights include:
•
2.11 g/t Au over 58.0 metres in KCD-90, including
o 11.6 g/t Au over 7.9 metres
•
3.47 g/t Au, 63.1 g/t silver (Ag), 1.01% Copper (Cu) over 23.9 metres in KCD-86; including
o 5.23 g/t Au, 103.8 g/t Ag, 1.74% Cu over 11.6 metres
Infill core holes KCD-86 and KCD-90 tested the area between recently reported KCD-79 (14.9 g/t Au over 14.1 metres) and KCD-50 (227 g/t Au over 12.0 metres) in the north-central portion of the gold mineralized zone and returned high-grade gold. Significantly, KCD-86 also intercepted high grades of silver and copper.
“Systematic drilling guided by the geological model continues to extend the mineralization at the KCD target,” said Matt Lennox-King, President and CEO, Pilot Gold. “The gold-mineralized system remains very much open down-dip to the north and along strike to the northwest.”
Gruß, Seinfeld
Vor allem die Grade-Erhöhung um 16,5% ist gut, besonders da viele produzenten Probleme mit den Grades zu haben scheinen.
Antwort auf Beitrag Nr.: 44.024.851 von seinfeld am 15.01.13 17:50:17Wieder eine neue News!!
Pilot Gold reports 227 g/t gold over 12.0 metres from metallic screen re-assay of TV Tower's KCD-50
January 22, 2013
Grade increased by 17.5% over
previously reported fire assay results
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to report that metallic screen assaying of the previously reported hole KCD-50 is complete, and shows that the average grade for a high-grade 12.0-metre-long interval increased by 17.5%. Metallic screen assaying returned 227 grams per tonne gold (g/t Au) over 12.0 metres while conventional fire assay results for the interval (announced on December 3rd, 2012) returned 193 g/t Au over the same 12.0 metres.
“Metallic screen assaying is a prudent step in verifying results when extremely high grades are present or where coarse gold is suspected,” said Moira Smith, Chief Geologist, Pilot Gold. “We are encouraged that the initial results for KCD-50 stood up to additional scrutiny and, in fact, improved using a more reliable method.”
The near-perpendicular orientation of the gold-bearing veins in this intercept relative to the hole orientation suggest this intercept may reflect the approximate true width of the zone. The interval lies within a newly recognized stratiform zone of mineralization that may have significant dimensions. Visible gold (see photo: http://www.pilotgold.com/sites/default/files/KCD50_VisibleGo… was confirmed in several veins within this interval, which is located at a vertical depth of 100 metres from surface.
Assays recently reported from holes KCD-72, KCD-80, KCD-83 and KCD-85 (announced January 15th, 2013) reveal that the high gold grades in KCD-50 are not isolated. The recently announced holes, with grades such as 6.59 g/t Au over 34.2 metres in KCD-80 and 7.08 g/t Au over 17.0 metres in KCD-72, demonstrate continuity and suggest that a zone of high gold grades extends continuously over a total distance of more than 100 metres.
Metallic screen assaying is typically employed to better quantify the gold endowment in very high-grade samples, particularly where significant visible coarse gold is present, as was the case with KCD-50. This process involves the use of a large sample of material, as approximately 500 grams are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. Gold assays using this method are typically more representative of the total gold endowment than conventional assays due to use of a larger sample size, assaying of more sample splits, and better representation of the coarse gold fraction as a proportion of the whole sample.
About TV Tower:
TV Tower is a joint venture between Pilot Gold (40%) and Teck Madencilik Sanayi Ticaret A.S. (60%), a Turkish subsidiary of Teck Resources Limited (“Teck”). Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60%, through sole funding of exploration over a three-year period. (See press release dated September 12, 2012 for full details of the deal terms.)
Located on the Biga Peninsula of northwest Turkey, TV Tower encompasses 71 square kilometres. It contains a large number of targets ranging from high- and low-sulphidation epithermal gold-silver to porphyry gold-copper. The project has an extensive road network and targets to date all lie on land administered by Turkey’s Ministry of Forestry. It is located immediately west of the Kirazli gold project (Alamos Gold) and approximately 10 kilometres northwest of the Halilaga copper-gold project (Teck/Pilot Gold).
First-pass drilling in 2010 resulted in new discoveries at the KCD and Kayali targets. Surface exploration by Pilot Gold continues to uncover robust new targets, including the bonanza-grade Columbaz low sulphidation epithermal vein system that returned 39 g/t gold and 290 g/t silver in recent rock chip sampling.
TV Tower is an early stage exploration project and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
Moira Smith, Ph.D., P.Geo., Chief Geologist, Pilot Gold, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is accurate. Drill composites were calculated using cut-offs of 0.3, 3.0 and 10.0 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 50-100% of the reported lengths. Drill samples were assayed by AcmeLabs in Ankara, Turkey and Vancouver, B.C. for gold by Fire Assay of a 30 gram (1 assay ton) charge with ICP-ES or AAS finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. Metallic screen techniques were employed to assay a 12-metre interval in KCD-50. Approximately 500 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. Ag and Cu were determined by aqua regia ICP-MS, with overlimits (>100 ppm Ag or >10,000 ppm Cu) completed by fire assay with gravimetric finish (Ag) or 4-acid digestion with ICP-ES (Cu). QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.
Gruß, Seinfeld
Pilot Gold reports 227 g/t gold over 12.0 metres from metallic screen re-assay of TV Tower's KCD-50
January 22, 2013
Grade increased by 17.5% over
previously reported fire assay results
VANCOUVER, B.C. – Pilot Gold Inc. (PLG - TSX) (“Pilot Gold” or the “Company”) is pleased to report that metallic screen assaying of the previously reported hole KCD-50 is complete, and shows that the average grade for a high-grade 12.0-metre-long interval increased by 17.5%. Metallic screen assaying returned 227 grams per tonne gold (g/t Au) over 12.0 metres while conventional fire assay results for the interval (announced on December 3rd, 2012) returned 193 g/t Au over the same 12.0 metres.
“Metallic screen assaying is a prudent step in verifying results when extremely high grades are present or where coarse gold is suspected,” said Moira Smith, Chief Geologist, Pilot Gold. “We are encouraged that the initial results for KCD-50 stood up to additional scrutiny and, in fact, improved using a more reliable method.”
The near-perpendicular orientation of the gold-bearing veins in this intercept relative to the hole orientation suggest this intercept may reflect the approximate true width of the zone. The interval lies within a newly recognized stratiform zone of mineralization that may have significant dimensions. Visible gold (see photo: http://www.pilotgold.com/sites/default/files/KCD50_VisibleGo… was confirmed in several veins within this interval, which is located at a vertical depth of 100 metres from surface.
Assays recently reported from holes KCD-72, KCD-80, KCD-83 and KCD-85 (announced January 15th, 2013) reveal that the high gold grades in KCD-50 are not isolated. The recently announced holes, with grades such as 6.59 g/t Au over 34.2 metres in KCD-80 and 7.08 g/t Au over 17.0 metres in KCD-72, demonstrate continuity and suggest that a zone of high gold grades extends continuously over a total distance of more than 100 metres.
Metallic screen assaying is typically employed to better quantify the gold endowment in very high-grade samples, particularly where significant visible coarse gold is present, as was the case with KCD-50. This process involves the use of a large sample of material, as approximately 500 grams are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. Gold assays using this method are typically more representative of the total gold endowment than conventional assays due to use of a larger sample size, assaying of more sample splits, and better representation of the coarse gold fraction as a proportion of the whole sample.
About TV Tower:
TV Tower is a joint venture between Pilot Gold (40%) and Teck Madencilik Sanayi Ticaret A.S. (60%), a Turkish subsidiary of Teck Resources Limited (“Teck”). Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60%, through sole funding of exploration over a three-year period. (See press release dated September 12, 2012 for full details of the deal terms.)
Located on the Biga Peninsula of northwest Turkey, TV Tower encompasses 71 square kilometres. It contains a large number of targets ranging from high- and low-sulphidation epithermal gold-silver to porphyry gold-copper. The project has an extensive road network and targets to date all lie on land administered by Turkey’s Ministry of Forestry. It is located immediately west of the Kirazli gold project (Alamos Gold) and approximately 10 kilometres northwest of the Halilaga copper-gold project (Teck/Pilot Gold).
First-pass drilling in 2010 resulted in new discoveries at the KCD and Kayali targets. Surface exploration by Pilot Gold continues to uncover robust new targets, including the bonanza-grade Columbaz low sulphidation epithermal vein system that returned 39 g/t gold and 290 g/t silver in recent rock chip sampling.
TV Tower is an early stage exploration project and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets yielding a mineral resource.
Moira Smith, Ph.D., P.Geo., Chief Geologist, Pilot Gold, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is accurate. Drill composites were calculated using cut-offs of 0.3, 3.0 and 10.0 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 50-100% of the reported lengths. Drill samples were assayed by AcmeLabs in Ankara, Turkey and Vancouver, B.C. for gold by Fire Assay of a 30 gram (1 assay ton) charge with ICP-ES or AAS finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. Metallic screen techniques were employed to assay a 12-metre interval in KCD-50. Approximately 500 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. Ag and Cu were determined by aqua regia ICP-MS, with overlimits (>100 ppm Ag or >10,000 ppm Cu) completed by fire assay with gravimetric finish (Ag) or 4-acid digestion with ICP-ES (Cu). QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.
Gruß, Seinfeld
Ja, im Moment ist Pilot Gold wirklich sehr auskunftsfreudig, aber dafür gibt es ja auch gute Gründe!! Die letzten Meldungen liessen sich ja durchweg positiv interpretieren und lassen auf eine weitere schöne Kursentwicklung hoffen!!
Gruß, Seinfeld
Gruß, Seinfeld
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