The exploration work resulted in several targets being upgraded to drill-ready at TV Tower. In addition, new target types were identified, including low-sulphidation gold-silver veins with bonanza grades obtained in surface sampling.
The drilling program on KCD successfully extended gold, silver and copper mineralization in all directions from early holes KCD-02 through KCD-05. Gold was encountered in drilling over an area now measuring approximately 400 metres x 250 metres, overlain by a zone of continuous silver mineralization now measuring approximately 600 metres x 400 metres.
Significant drill intercepts included:
-- KCD-39: 5.94 g/t Au, 12.64 g/t Ag, 0.53% Cu over 137.1 metres, including 18.88 g/t Au over 27 metres: Starting in breccia identified in discovery hole KCD-002, the hole quickly transitioned into volcaniclastic rocks and encountered new mineralization in a stratiform vuggy silica zone, signifying that mineralization could be traced well beyond the boundary of the breccia.-- KCD-50: 227 g/t Au over 12.0 metres: Collared 70 metres northwest of KCD-39, the hole intercepted shallowly dipping veins bearing visible gold. The results, in conjunction with observations from other nearby holes, showed the presence of widespread, vein-hosted gold mineralization.-- KCD-104: 69.0 g/t Ag over 94.0 metres, including 255 g/t Ag over 18.1 metres: The most westerly hole of the silver blanket also returned some of the strongest grades. The silver zone remains open to the west and north.
Significant structural and stratigraphic complexities, complex distribution and styles of mineralization, and localized high gold grades were encountered in the gold zone. Therefore, the average density of drill intercepts was reduced from 50-metre centres (anticipated in the original drill plan) to 20- to 30-metre centres in order to adequately test the distribution and controls on mineralization. The gold zone is still open down-dip to the north and to the northwest. The silver zone is largely separate from the gold zone, and its distribution appears to be largely focused on an interval of fluvial-lacustrine strata overlying the gold zone. The silver zone is open to the north and west, with some of the thickest and highest-grade intercepts returned from holes drilled on the western edge of the zone.
"Our first eight months as operator at TV Tower has been very productive and led to a new and deeper understanding of the KCD target," said Moira Smith, Chief Geologist, Pilot Gold. "We are looking forward to further testing of KCD in 2013, building towards an initial resource estimate by year-end."
The 2013 exploration program at TV Tower is designed to build upon strong successes in 2012 and will include the following:
-- 15,000 metres of infill and step-out drilling, metallurgical testing, check assaying, geologic mapping and target refinement at KCD-- 7,500 metres of drilling at the Kayali gold oxide target, located eight kilometres south of the KCD target. This target was previously drill tested, returning 0.87 g/t gold over 114.5 metres in KYD-01-- 7,500 metres of drilling at the Columbaz low sulphidation gold-silver vein target, located two kilometres south of KCD-- Continued geological mapping, prospecting, rock sampling, infill soil sampling and other activities related to property-wide target definition
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