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Pilot Gold Inc.
Summary
| Project: | Goldstrike | |
|---|---|---|
| Deposit: | Goldstrike | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 10/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-10-2016: Pilot Gold Inc. announces an Exploration/Drilling Update report for its Goldstrike deposit at the Goldstrike project. Technical summary of Goldstrike gold project. Mine Development Associates (“MDA”) has prepared this Technical Report on the Go | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael M. Gustin, Moira T. Smith (Mine Development Associates;Internal) | |
| ABSTRACT: | Mine Development Associates (“MDA”) has prepared this Technical Report on the Goldstrike project, located in Washington County, Utah, for Pilot Gold Inc. (“Pilot Gold”), which is listed on the Toronto Stock Exchange (PLG-T). Pilot Gold holds its interest in the Goldstrike project through its indirect subsidiary, Pilot Goldstrike, Inc., a Nevada, USA Corporation. This report has been prepared in accordance with disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101, Companion Policy 43-101CP, and Form 43-101F1 (“NI 43-101”). Pilot Gold obtained its interest in the Goldstrike property by way of an agreement between Pilot Gold Inc. and Cadillac Mining Corporation (“Cadillac”) dated June 12, 2014, with an Effective Date of August, 29, 2014. Under the agreement, Cadillac shareholders received consideration of 0.12195 Pilot Gold common shares for each Cadillac share held, as well as 0.12195 of one Pilot Share Purchase Warrant (“Pilot Warrant”), representing a total of 4,218,164 common shares and 4,218,164 Warrants. Total consideration in connection with the transaction, including transaction costs, was US$7.16 million. As a result of this transaction, Cadillac and its subsidiaries, including Cadillac South Explorations Inc., became wholly-owned subsidiaries of Pilot Gold. In 2016, the name of Cadillac South Explorations Inc. was changed to Pilot Goldstrike, Inc. For the purposes of this report, Pilot Gold Inc. and its subsidiaries are referred to interchangeably as “Pilot Gold”. “Cadillac” in this report refers to Cadillac Mining Corporation prior to its acquisition by Pilot Gold. | |
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