Pilot Gold Acquires Mineral Gulch Project

 

VANCOUVER, BC - Pilot Gold Inc. reported the acquisition of 100% of the Mineral Gulch Property, from Western Pacific Resources Corporation. Mineral Gulch is the past-producing Black Pine heap leach gold mine located in southeastern Idaho. The purchase price consisted of US $800,000 cash, 300,000 common shares of Pilot Gold and a grant of a 0.5% NSR to Western Pacific.

Pilot Gold’s goal is to advance a portfolio of past producing Carlin-style oxide gold mines (Goldstrike, Kinsley, Mineral Gulch) and high grade gold projects (Kinsley, Baxter Springs) in the western US.  Mineral Gulch has the potential to match its current success at Goldstrike. 

Mineral Gulch contains a large, shallow, oxidized Carlin-style gold system, similar in nature and target size to Pilot Gold’s Kinsley, Nevada and Goldstrike, Utah projects.

Pilot Gold will use the same detailed data compilation approach to the Mineral Gulch Property as was completed at the Goldstrike and Kinsley projects. The historical database will be digitized and matched with surface mapping and sampling results to generate a 3D interpretive model before a first-phase RC infill and step-out drill program is initiated. Preliminary interpretation suggests that gold is hosted within a low angle thrust fault system superimposed on receptive Pennsylvanian silty limestones.