Pilot Gold Inc. (
TSX: T.PLG,
Stock Forum) said that drilling focused on the near-surface zone of silver-only mineralization at the KCD target at TV Tower continues to return strong results.
The TV Tower project, located on the Biga Peninsula of northwest Turkey, encompasses 71 square kilometers that contain a large number of targets ranging from high- and low-sulphidation epithermal gold-silver to porphyry gold-copper.
According to the
Pilot Gold press release, recent assay results indicate that silver mineralization extends at least another 100 metres along strike west-northwest to east-southeast at KCD, now encompassing an area measuring 600 metres by 500 metres.
The 2013 program at KCD is primarily focused on infill and step-out drilling of the silver zone, and testing the gold zone down-dip to the north and along strike to the west-northwest.
Highlights from step-out drill results include over 14.5 metres of 327 grams per tonne silver, including over 8.5 metres grading 547 grams per tonne silver.
Highlights of infill drilling include over 59.5 metres of 59.1 grams per tonne silver, including 11.0 metres grading 67.6 grams per tonne silver.
TV Tower is a joint venture between Pilot Gold with 40% and a Turkish subsidiary of
Teck Resources Ltd. (
TSX: T.TCK.B,
Stock Forum), with 60%. Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60%, through sole funding of exploration over a three-year period.
Pilot Gold is a gold exploration company working to discover and define high-quality projects featuring strong grades, meaningful size and mining-friendly addresses.
On Thursday, Pilot Gold rose 6% and was trading at $1.05 a share. The company had a market cap of $91.2 million, based on 86.8 million shares outstanding.