Pilot Gold Acquires Mineral Gulch Project,
Former Black Pine Heap Leach Gold Mine – Idaho
Pilot Gold has attained 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 $800K cash, 300K 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 and high grade gold projects in the western US. Mineral Gulch has the potential to match our current success at Gold strike. The Company will continue to search for additional acquisitions.
Mineral Gulch contains a large, shallow, oxidized Carlin-style gold system, similar in nature and target size to Pilot Gold’s Kinsley, Nevada and Gold strike, Utah projects. The Past Producer had 435K ounces of gold mined from 7 small shallow pits within a 12 km2 area defined as the priority exploration target. Over 400 holes still unaccounted for but may be recoverable.