- Business
- Patriot Gold Corp. engages in the acquisition, exploration and development of natural resource properties focused on gold and silver deposits in the United States. The company holds a 3% net smelter return royalty on the Moss Mine in western Arizona, which has generated approximately $11 million in revenue to date; a 2% net smelter return royalty on the Bruner gold project in central Nevada operated by Endeavour Silver Corp.; and 100% ownership interests in three exploration projects in Nevada, including the Windy Peak property comprising 118 unpatented claims covering 2,419 acres in west-central Nevada with extensive hydrothermal breccias and vein systems along a 2.7-mile strike length, the Vernal property with 12 unpatented claims spanning 248 acres in central Nevada, and the Thra project encompassing 261 unpatented claims over 5,391 acres in Churchill, Mineral and Nye counties identified through hyperspectral imagery targeting diverse mineral systems. Patriot Gold maintains ongoing exploration activities such as geological mapping, soil and rock sampling, geophysical surveys, biogeochemistry and reverse circulation drilling aimed at large-tonnage, high-grade gold prospects in gold-producing regions near historic deposits like Paradise Peak and Rawhide. Incorporated in 1998 and headquartered in Reno, Nevada, the company anticipates additional funding needs for 2025 operations amid a temporary halt in Moss Mine royalty payments; in April 2024, it initiated legal action against Golden Vertex Corp. for outstanding royalties, resulting in a U.S. Bankruptcy Court order segregating relevant assets pending resolution, while recent efforts include 2024 drilling at Windy Peak confirming low-sulfidation mineralization and the Thra project staking based on aerial hyperspectral surveys.