In June 2016, Pilot Gold acquired the Black Pine Property from Western Pacific Resource Corporation for US$800,000 cash, 300,000 shares of Pilot Gold and a 0.5% NSR reserved to Western Pacific. At present, the project consists of 345 federal lode claims (26.3 km2).
There are 1866 historic shallow (most averaged only 96 m in length) drill holes on the property and a larger number have unmined oxide gold intercepts including:
- 12.2m grading 1.24 g/t Au and 6.1m grading 0.48 g/t Au
- 24.4m grading 1.59 g/t Au
- 4.6m grading 2.17 g/t Au and 10.7m grading 2.60 g/t Au
Oxide gold is present in historic drill holes, pit walls and outcrop samples and extensive grid soil surveys. The large mineralized footprint covers a 12km2 area, which will be the priority exploration target for Pilot Gold.
Mineralization consists of finely disseminated gold hosted in Pennsylvanian decalcified and jasperoidized calcareous siltstone correlative with the Oquirrh Formation. These rocks are present within a system of interleaved, low-angle thrust faults that is well-exposed in many parts of the property. In other areas, the prospective host horizon is believed to be present under the shallow cover of an overlying thrust plate; these areas are significantly underexplored.
For more details about the Black Pine Property, including location, geology and soil geochemistry maps, please click here: http://www.pilotgold.com/images/Presentations/2017/BlackPineFeb2017.pdf
Black Pine is an early-stage exploration project and does not 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 any of the targets disclosed herein.
Moira Smith, Ph.D., P.Geo., VP Exploration and Geoscience, Pilot Gold, is the Company's designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained herein is accurate.