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Pilot Gold Announces Additional Drill Results from Peg Leg and Covington Pit Areas

Reviewed

Feb 9 2017

Pilot Gold Inc. (TSX:PLG) ("Pilot Gold" or the "Company") is pleased to announce additional drill results from 17 drill holes in the Peg Leg and Covington Pit areas, located south and west respectively, of the Main Zone, at the 100% controlled Goldstrike Project in southwestern Utah. The primary target is shallow Carlin-style, oxide gold mineralization within the 14 km² "Historic Mine Trend", between and down-dip of historic open pits.

Highlights from the Peg Leg Zone (5 drill holes) include:

1.78 grams per tonne gold (g/t Au) over 29.0 metres (m) including 3.54 g/t over 12.2 m in PGS179
0.90 g/t Au over 6.1 m and 0.76 g/t Au over 33.5 m including 1.47 g/t over 6.1 m in PGS183
1.33 g/t Au over 18.3 m in PGS187
One of the remaining two drill holes intercepted 0.41 g/t Au over 12.2 m (PGS186), with 1 hole missing the target.

Following the widely-spaced proof-of-concept drill holes released last month, including 0.51 g/t Au over 41.1 m in PGS142 and 0.54 g/t Au over 25.9 m and 0.75 g/t Au over 10.7 m in PGS149 (refer to news release dated January 10, 2017), these additional results from the new 1.5 km-long Peg Leg area continue to demonstrate that additional drilling is warranted.

Highlights from the Covington Pit area (12 drill holes) include:

1.57 g/t Au over 6.1 m and 4.10 g/t Au over 7.6 m including 6.32 g/t Au over 4.6 m in PGS191
1.15 g/t Au over 10.7 m in PGS182
0.83 g/t Au over 3.0 m and 7.36 g/t Au over 1.5 m in PGS178
0.74 g/t Au over 6.1 m in PGS 185
Three of the remaining eight drill holes intercepted narrow widths including 0.23 g/t Au over 4.6 m and 0.83 g/t Au 3.0 m. Five drill holes were lost due to ground conditions or crossed the south graben-bounding fault before intersecting the target basal Claron Formation. New drilling will be carried out at steeper angles in order to intercept the target.
Four of the holes confirmed that higher grade mineralization is hosted in an east-west striking mafic dike located immediately north of the Covington Pit.

There are currently two drills operating on the project in the Aggie area and on the new Warrior Zone target. All 2016 drill results have been released.

For a complete table of drill results for the current holes, please click here:
http://pilotgold.com/sites/default/files/GS_Intercepts08022017.pdf

For a complete table of results for all drilling by Pilot Gold at Goldstrike in 2015 and to date in 2016, please click here: http://pilotgold.com/sites/default/files/GS_Intercepts2015to08022017.pdf

For a map of drill collars and traces for the current release, please click here:
http://pilotgold.com/sites/default/files/GoldStrike_PR2017-03.jpg

For a map showing the areas of new drilling and the location of historic pits at Goldstrike, please click here:
http://pilotgold.com/sites/default/files/GoldstrikeFutureDrilling.jpg

Source:

http://www.pilotgold.com/