Significant Uranium Mineralization Confirmed by Golden Patriot, Corp.'s Successful Drill Program
12 January 2007 - 7:01PM
PR Newswire (US)
Trading Symbols: GPTC - OTCBB GPU - Frankfurt Stock Exchange 784832
- WKN # LAKE SUCCESS, NY, Jan. 12 /PRNewswire-FirstCall/ -- Golden
Patriot, Corp. ("Golden Patriot") (OTCBB: GPTC) (Frankfurt Stock
Exchange: GPU: 784832-WKN)) is extremely pleased to announce that
the assay results of the recently completed drill program on the
Lucky Boy Uranium Property has been received by the operator and
the following positive results has been ascertained. The recent
reverse circulation drill program, totaling 3,430 feet in 23 holes,
testing geological and anomalous areas of the Lucky Boy Uranium
Property in Gila County, Arizona has been successful in delineating
significant mineralization over a strike length of approximately
396 feet. Bradley Rudman, president of Golden Patriot, stated, "It
is great news that this phase of our drill program produced
significant mineralization over sufficient lengths. We have been
told that economic grade uranium has been found and that a trend of
mineralization has been ascertained. The next phase will now focus
on the area of mineralization to prove out the potential tonnage
and grades available to take us to the next phase of the program
and ultimately to the goal of putting the Lucky Boy Prospect into
production. 2007 could prove to be a watershed year in the short
and long term growth of the company. Golden Patriot is one of the
smallest capitalized junior uranium companies that has achieved
successful uranium drilling results, and we feel that as this
prospect is ultimately developed, Golden Patriot might provide
tremendous future leverage within the uranium segment of the
market." Drilling also suggests a NE/SW trend to the mineralization
which is open along strike. Intercepts of interest included hole #
2 returning 10 ft of (.12%) 2.4 lbs per ton U from a depth of 60 to
70 feet, hole # 21 returning 5 ft of (.13%) 2.6 lbs per ton or 10
ft of (.092%) 1.84 lbs per ton U from a depth of 85-95 ft, and hole
# 9 yielding 5 ft of (.12%) 2.4 pounds per ton from a depth of
150-155 ft. Systematic sampling of the adit, centered within the
presently drill indicated zone of mineralization, has defined a
potential core area of higher grade mineralization. Analysis with a
portable, X-Ray fluorescence analyzer (NITON) has returned readings
ranging from (.42% to .71%) 8.4 lbs per ton to 14.2 lbs per ton U.
Readings taken from the back of the adit and adjacent to a
production stope returned extremely anomalous readings and samples
have been sent to IPL laboratories of Richmond B.C. for
verification analysis. Historically, the Lucky Boy property has
seen two periods of production. In the early 1950's, 2,500 tons
grading (.16%) 3.2 pounds per ton was shipped to a government
buying station. During the 1970's, and following delineation of two
blocks of ore by shallow air-track drilling, a .5 acre leach pad
and complete on-site, yellow cake recovery plant was put into
production. Open pit mining of material from near surface to a
depth of about 25 feet, and grading between (.1 to .2%) 2 lbs per
ton to 4 lbs per ton U, is reported to have produced roughly 5,000
lbs of refined yellow cake. During the time it was determined that
torbernite, a secondary uranium copper phosphate mineral developed
along fracture faces, was the dominant uranium mineral present.
Recent drilling and geologic interpretation strongly suggests that
untested mineralization shallows in depth along a northeasterly
trend. Planning is currently underway to test this high priority
target. Recent work has confirmed that at least 10 cased, air track
holes drilled in the 1970's are open and are within this new zone
of interest. Results of this work will help guide a second phase of
drilling consisting of close spaced core-drilling holes. With
respect to potential open pit mining, confirmation of relatively
shallow mineralization lying roughly parallel to slope would be
highly favorable. To receive timely updates and information on any
future developments as they occur please email us at . 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/. CONTACT: Brad Rudman, Tel: (516) 343-6990,
http://www.goldenpatriotcorp.com/ DATASOURCE: Golden Patriot, Corp.
CONTACT: Brad Rudman, Tel: (516) 343-6990,
http://www.goldenpatriotcorp.com/
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