Golden Patriot (CE) (USOTC:GPTC)
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From Dec 2019 to Dec 2024
Golden Patriot, Corp. ("GPTC")(OTCBB:GPTC) wishes to
announce that it has been notified by Ashworth Explorations Ltd.
("Ashex"), the work operator, that the first phase of a two phase work
program on the Lucky Boy property will commence in the next 10-14
days. Work will consist of grid establishment, geochemical and
radiometric surveys, along with geological mapping and sampling. Drill
targets will be determined by Dr. J.H. Montgomery, the Qualified
Person overseeing the project. Fred Brost P.Eng. of Mining and
Environmental Consultants Inc., Phoenix, AZ., will initiate the
application process concurrent with this work and in anticipation of
an early fall drill-program.
GPTC holds under an option agreement the right to acquire 100%
interest in the Lucky Boy Uranium Project in Arizona, subject to
Rodinia Minerals Inc.'s option to acquire as much as 40% interest
subject to certain terms and conditions. Uranium has been mined from
the Lucky Boy Project in the past. The Lucky Boy Project is one of the
first producing uranium mines in the state of Arizona.
GPTC has retained Ashex to run the work program. Ashex has been in
business for over 25 years as a mineral exploration contractor.
Fueling nuclear power plants to generate electricity is the most
significant commercial use for uranium. Currently, uranium provides
16% of the world's electricity via 440 nuclear reactors operating in
31 countries. Annual uranium demand is 66,000 tonnes, with mining
fulfilling only 55% of that need. An additional 30% comes from
stockpiles, which are not being replenished due to current production
shortfalls, and the remaining 15% is salvaged from recycled weapons, a
non-renewable resource.
Uranium demand is expected to increase in the coming years as new
reactors are built and brought online in developing nations such as
China, which plans to build 27 nuclear plants, India with a planned 31
new reactors, and Russia with intentions for an additional 25
reactors. With a current worldwide production shortfall of more than
300 million pounds, demand for uranium is expected to be 11% higher
than supply over the next decade.
Conrad Clemiss, President of GPTC stated, "The Lucky Boy Project
is progressing as expected. We are continuing to establish a plan of
operation with the anticipation of a drilling program to occur early
in the fall. We are anticipating an update on our gold projects within
the next month as well. Management has also mandated a better
corporate communications program as the company is currently active on
multiple projects."
To receive timely updates and information on any future
developments as they occur please email us at
info@goldenpatriotcorp.com.
Disclaimer: This announcement may contain forward-looking
statements which involve risks and uncertainties that include, among
others, limited operating history, limited access to operating
capital, factors detailed in the accuracy of geological and
geophysical results including drilling and assay reports, the ability
to close the acquisition of mineral exploration properties, and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. More information is included in Golden
Patriot, Corp. filings with the Securities and Exchange Commission,
and may be accessed through the SEC's web site at http://www.sec.gov.