Pilot Gold Inc.

Pilot Gold Inc.

August 10, 2011 07:00 ET

Pilot Gold Intersects 1.87 g/t Gold Over 48.0 Metres in Step Out at Kucukdag

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2011) - Pilot Gold Inc. (TSX:PLG) ("Pilot Gold" or the "Company") is pleased to report that ongoing core drilling at the Kücükdag target ("Kücükdag"), at the TV Tower Project in northwest Turkey continues to intersect significant intervals of gold, silver and copper mineralization. Step out drill hole KCD-15 intersected strong gold mineralization over 48 metres, expanding the footprint of the Kücükdag mineralized system by 100 metres to the northeast.

Assay highlights from KCD-15 are as follows:

Hole KCD-15 (located 100 metres northeast of KCD-02):
  • 1.87 grams per tonne gold, 0.19% copper, and 7.26 g/t silver over 48.0 metres, starting at 128.9 metres, including:
    • 13.83 g/t gold, 0.31% copper, and 25.29 g/t silver over 5.4 metres.
  • 42.16 g/t silver over 11.0 metres, starting at 10.5 metres.

Encouraging results were also returned from drill holes KCD-11 and KCD-14, with strong intervals of silver mineralization intersected in targets outside the main mineralized zone.

Hole KCD-14 (located 125 metres east-northeast of KCD-02):
  • 63.68 g/t silver over 5.5 metres, starting at 6.9 metres;
  • 40.25 g/t silver over 6.1 metres, starting at 25.2 metres;
  • 3.03 g/t gold, 0.27% copper, and 29.99 g/t silver over 3.7 metres, starting at 39.2 metres.
Hole KCD-11 (located 450 metres northwest of KCD-02):
  • 44.36 g/t silver over 11.8 metres, starting at 112.7 metres
All true widths are 60-90% of reported widths unless otherwise stated. All intervals of no sampling have been assigned zero grade for the purposes of compositing.

For a map highlighting recent drilling at Kücükdag, please click:

For a comprehensive table of drill results from Kücükdag to date, including new and non-reportable intercepts, please click: http://www.pilotgold.com/sites/default/files/KCDDrillResults1114.pdf

The Kücükdag target is a high sulphidation gold system characterized by a 750 m x 100 m zone of strong silicification. Gold-silver-copper mineralization is related to multi-phase breccias hosted within a north-dipping sequence of silicified volcaniclastics. The geometry of this breccia development appears to be conformable with stratigraphy.

These results are from an ongoing 15,000 metre diamond core drilling program at the TV Tower Project currently focused on the Kücükdag and Kayali targets, where phase 1 drilling in 2010 resulted in the discovery of two large gold-bearing mineralized systems. Five core drills are currently operating on the property, with 6,400 metres of drilling completed to date. At Kücükdag, a total of 2,600 metres have been drilled with results from four exploration holes currently pending.

Phase 1 highlights include KCD-02 (4.28 g/t gold over 136.2 metres) at Kücükdag and KYD-01 (0.87 g/t gold over 114.0 metres) at Kayali. The Kücükdag target is the northernmost zone at the TV Tower Project. The Kayali target represents the southernmost zone, with Phase 2 drilling currently underway. In addition to Kücükdag and Kayali, six other highly prospective zones of surface alteration and gold mineralization have been identified at the TV Tower Project.

Teck Madencilik Sanayi Ticaret A.S. ("TMST"), a Turkish subsidiary of Teck Resources Limited ("Teck"), is Pilot Gold's 60% partner and the project operator.

About The TV Tower Project:

The TV Tower Project is a large, road-accessible property covering more than 65 square-kilometres located in the Biga District of northwest Turkey. Since 2004, Pilot Gold's technical team has played an important role in establishing the prospectivity and gold endowment of the Biga District, following staking of the area by Teck. Eight high-conviction targets have been identified with widespread epithermal to porphyry characteristics typical of those seen at other deposits in the Biga District.

All drill samples and analytical data for TV Tower 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 Standards of Disclosure for Mineral Projects ("NI 43-101"), is responsible for compiling the technical information contained in this release. Mr. Cunningham-Dunlop has not verified all of the assay data generated by TMST as project operator. However, the grades and widths reported here agree well with the Company's past results on the project and TMST has given him no reason to doubt their authenticity.


Pilot Gold is a gold exploration company focused on advancing Halilağa, TV Tower and our pipeline of projects in Nevada. For more information, visit www.pilotgold.com.

For further details on TV Tower, please view the NI 43-101 compliant technical report entitled "NI 43-101 Technical Report on the TV Tower Exploration Property, Canakkale, Western Turkey," dated February 15, 2011, as amended on 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 Gold's 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 Company's Amended Annual Information Form for the year ended December 31, 2010 dated May 12, 2011 (amended June 7, 2011), which is available under Pilot Gold's 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.

Contact Information

  • Pilot Gold Inc.
    Matt Lennox-King
    President & CEO
    604-632-4677 or Toll Free 1-877-632-4677

    Pilot Gold Inc.
    Patrick Reid
    VP Corporate Development
    604-632-4677 or Toll Free 1-877-632-4677