Piedmont Mining Company, Inc. (OTC BB: PIED) today announced that drilling has begun at the Trinity Silver property in Pershing County, Nevada. A program of 16 reverse circulation drill holes totaling approximately 8,000 feet is planned and should be completed this month. These holes are designed to pursue silver mineralization in the vicinity of the old oxide silver pit on the property. They will vary from about 200 to 700 feet in depth. This property is controlled by the U.S. subsidiary of AuEx Ventures (TSX-V: XAU) which is managing our exploration program on the property.
At the Dutch Flat property, a second program of reverse circulation drilling will commence this week as well. It will consist of a second fence of shallow angle holes to offset the fence of holes drilled in the program last fall, as well as four to five deeper holes to test the vein swarms at greater depth and the possibility of a hidden gold skarn at the margin of the intrusive. This program will total about 6,000 feet and may be drilled in two phases to allow us to use the most appropriate drill rig for different parts of the program. This property is controlled by Columbus Gold Corp. (TSX-V: CGT). Our exploration program is being managed by Cordex Exploration Co., under its exclusive relationship with Columbus Gold Corp. to perform its Nevada exploration work.
A third reverse circulation drill rig is expected to commence drilling at the Dome-HiHo property by next week. This drill program will consist of three holes totaling approximately 2,100 feet and should be completed in about two weeks. This property is controlled by the U.S. subsidiary of Carlin Gold Corporation (TSX-V: CGD) which is managing our exploration program on the property.
This drill rig will then move to the Antelope Ridge property, where a program of seven holes totaling approximately 3,500 feet is planned. These holes are designed to test the tonnage potential of the mineralized jasperoids on the property.
Piedmont is an exploration-stage company, exploring for gold and silver in Nevada. It has now entered into agreements with experienced exploration groups on 7 properties in Nevada.
FORWARD-LOOKING STATEMENTS: “Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company’s business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to evaluate. Actual results could vary materially from the description herein due to many factors including changes in market prices for precious metals; changes in business and economic conditions; changes in the laws and regulations of the mining industry; unexpected difficulties in exploration and in obtaining permits; changes in the competitive environment; technological advances; shortages of skilled miners, drill rigs and equipment; the need for additional capital and other risk factors listed in the Company’s Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made. The Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Robert M. Shields, Jr. 212-734-9848
Susan Hahn & Associates