Golden Patriot Acquires the Debut Gold Copper Project in Nevada.Business Editors/Environment Writers LAS VEGAS--(BUSINESS WIRE)--Nov. 6, 2003 Golden Patriot, Corp. ("GPTC GPTC Gas Piping Technology Committee GPTC Great Plains Technology Center ") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GPTC) is pleased to announce that GPTC has acquired a 100% interest in 16 mineral claims covering 320 acres in north central Nevada, known as the Debut. The Debut property is located 96 miles south east of Elko, Nevada on the west flank of the West Buttes Buttes is a municipality in the district of Val-de-Travers in the canton of Neuchâtel in Switzerland. Range in the Delker Mining District Elko County, Nevada Elko County is located in the western U.S. state of Nevada. As of the 2000 census, the population was 45,291. Its county seat is Elko6. The county was organized on March 5, 1869, being taken from Lander County. . The property is due north and on trend from Placer Domes Bald Mountain deposit. The Debut Prospect is an intrusive related sediment-hosted gold-copper system that holds potential for shallow, economic gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . Historic Exploration From 1988 to 1999 Pegasus Gold Corporation held the property and conducted an extensive exploration program on a small portion of the area. Drilling intercepted wide zones of +100 ppb gold with up to 15 feet of .038 oz/ton and a high of .078 oz/ton gold over 5 feet The historic drilling tested anomalous gold values in a small skarnified area west of the +6000 feet long jasperoid-bearing zone. Two primary target zones with values greater than .01 oz Au/ton (ranging as high as 2842 ppb Au) and strong sediment-hosted alteration are untested. The widespread gold, extensive alteration, favorable stratigraphy stratigraphy, branch of geology specifically concerned with the arrangement of layered rocks (see stratification). Stratigraphy is based on the law of superposition, which states that in a normal sequence of rock layers the youngest is on top and the oldest on the , and permissive structural zones suggest additional targets may be outlined with continued exploration. Target Concept Debut is an intrusive related sediment-hosted gold copper prospect with patchy local skarn. Historic drilling suggests the Pilot Formation, a sandy limestone, is the primary host with significant mineralization occurring adjacent to structural zones and intrusive rocks (possibly a late dacite da·cite n. A light gray volcanic rock containing a mixture of plagioclase and other crystalline minerals in glassy silica, similar in appearance to rhyolite. [After Dacia. dike Dike, in Greek religion and mythology Dike: see Horae. dike, in technology dike, in technology: see levee. dike Bank, usually of earth, constructed to control or confine water. phase of the main intrusive). Previous drilling focused on a very small part of the system. Several primary target zones are found on the prospect with: -- Well-developed haematitic jasperoids, decalcification decalcification /de·cal·ci·fi·ca·tion/ (de-kal?si-fi-ka´shun) 1. loss of calcium salts from a bone or tooth. 2. the process of removing calcareous matter. , and bleaching -- Anomalous gold and trace elements (up to 2842 ppb Au and 1030 ppm As) -- Previous drilling and recent sampling GPTC is pleased to now have two separate gold properties in the state of Nevada. Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Golden Patriot, Corp. filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov. |
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