Rye Patch Gold Corp. (TSX VENTURE: RPM)(OTCBB: RPMGF) ("Rye Patch"
or the "Company") is pleased to report additional assay results
from the on-going 2011, core drilling campaign on the Company's
100% controlled Wilco project.
HIGHLIGHTS:
-- Core drilling expands the North Basin high-grade gold zone westward in
WRC-009 with 12.734 g/t gold and 70.516 g/t silver over 8.4 metres
within a thicker zone of mineralization;
-- WRC-007 cuts 36.5 metres grading 1.291 g/t gold and 7.251 g/t silver and
extends the Section Line deposit westward;
-- High grades encountered in the upper zone of the Section Line deposit
including 31.754 g/t gold and 106.3 g/t silver over 2.1 metres starting
at 85 meters; and
-- Core drilling continues.
Rye Patch is releasing assay results from its on-going,
core-drilling program located at the Wilco project. The five
drillholes show that the gold and silver mineralization continues
westward along the North Basin high-grade zone and along the
anticline zone of the Section Line deposit. Drilling in the North
Basin is moving west-southwest toward the Section Line deposit.
Five drillholes are now complete in the North Basin high-grade
target. Assays are pending for WRC-010 and WRC-011; one drillhole,
WRC-012, is in progress; and four more drillholes are planned. Gold
and silver assays along with geology for drillholes WRC-005,
WRC-006 and WRC-009 show continuity of the high grade gold along a
west-southwest structural zone paralleling the northern margin of
the Section Line gold deposit. The drilling has extended the
high-grade zone 100 metres toward the west giving the zone
dimensions of 100 metres by 300 metres; however, additional
potential exists along a one-kilometre structural trend.
The structural zone has significant high-grade gold and silver
within a larger halo of moderate gold grades. WRC-009 returned 37
metres grading 3.855 g/t gold and 31.811 g/t silver. Internal
high-grade zones were encountered including one interval that
returned 40.325 g/t gold and 175.879 g/t silver over 2.2 metres.
The drilling shows gold and silver is associated with a multi-phase
silica event that includes stockwork quartz veining and pervasive
silica-cemented breccias within the altered siltstone rock package.
A third type of alteration and mineralization is associated with
decalcified siltstone. The alteration and mineralization are open
to the west.
Table 1 summarizes the significant drillhole intervals with gold
and silver assays using a 0.30 g/t gold cut off grade, and shows
gold equivalent (Aueq) where Aueq equals the gold assay plus silver
assay divided by 50 (Aueq = Au + (Ag/50)).
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Table 1: Wilco Project - 2011 Core Drilling Program; WRC-005 to WRC-009
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Drill-
hole(1)
inter- Total
Drill- Au Ag Aueq val From To Depth
hole Remarks g/t g/t g/t metres metres metres metres
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WRC-005 North Basin 0.366 2.621 0.418 16.8 80.7 97.5 377.3
--------------------------------------------------------------------
WRC-005 North Basin 2.174 6.904 2.312 17.3 331.0 348.4
--------------------------------------------------------------------
Including 3.400 9.781 3.596 10.6 337.7 348.4
--------------------------------------------------------------------
Including 9.980 5.650 10.093 3.0 339.6 342.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WRC-006 North Basin 0.340 2.627 0.393 25.9 82.3 108.2 361.7
--------------------------------------------------------------------
WRC-006 North Basin 1.785 11.075 2.007 32.4 315.5 347.9
--------------------------------------------------------------------
Including 5.124 22.517 5.574 7.1 329.4 336.4
--------------------------------------------------------------------
Including 14.376 22.900 14.834 1.2 331.5 332.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WRC-007 Section Line 31.754 106.300 33.880 2.1 85.0 87.2 323.5
--------------------------------------------------------------------
WRC-007 Section Line 0.384 3.718 0.458 5.3 112.1 117.3
--------------------------------------------------------------------
WRC-007 Section Line 0.726 8.325 0.893 17.6 181.5 199.2
--------------------------------------------------------------------
WRC-007 Section Line 1.291 7.251 1.436 36.5 213.4 249.9
--------------------------------------------------------------------
Including 1.529 9.065 1.710 27.4 213.4 240.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WRC-008 Section Line 0.409 5.069 0.510 82.4 117.3 199.7 299.0
--------------------------------------------------------------------
Including 1.346 17.737 1.701 2.3 139.3 141.6
--------------------------------------------------------------------
Including 1.750 15.804 2.066 3.1 196.6 199.7
--------------------------------------------------------------------
WRC-008 Section Line 1.362 6.880 1.500 31.2 225.6 256.7
--------------------------------------------------------------------
Including 2.140 9.470 2.329 17.1 225.6 242.6
--------------------------------------------------------------------
Including 3.987 10.930 4.206 5.9 231.5 237.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WRC-009 North Basin 1.109 6.400 1.237 4.6 59.4 64.0 417.0
--------------------------------------------------------------------
WRC-009 North Basin 0.381 4.254 0.466 6.2 79.2 85.5
--------------------------------------------------------------------
WRC-009 North Basin 0.670 6.000 0.790 4.6 283.5 288.0
--------------------------------------------------------------------
WRC-009 North Basin 3.855 31.811 4.492 37.0 329.8 366.8
--------------------------------------------------------------------
Including 12.734 70.516 14.144 8.4 331.5 339.9
--------------------------------------------------------------------
Including 40.325 175.879 43.843 2.2 331.5 333.8
--------------------------------------------------------------------
Including 5.950 85.553 7.661 1.8 338.1 339.9
--------------------------------------------------------------------
WRC-009 North Basin 0.552 1.242 0.577 11.2 391.7 402.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1) TRUE THICKNESS UNKNOWN
Along the western margin of the Section Line deposit, drillholes
WRC-007 and WRC-008 were completed. The drillholes intercepted
significant mineralization starting at approximately 80 metres down
the holes. WRC-007 cut 31.754 g/t gold and 106.3 g/t silver over a
2.1 metre interval starting at 85 metres and shows the deposit has
high-grade potential within the upper mineralized zone. Multiple
gold and silver zones ranging in thickness from 2 metres to 82
metres were encountered. In WRC-008, a zone 31.2 metres thick and
grading 1.50 g/t Aueq was intersected starting at 225.6 metres down
the drillhole. True thickness of the zones is not known at this
time; however, the westerly expansion potential of the Section Line
resource is evident.
William C. (Bill) Howald, the Company's President and CEO
commented, "We are very pleased with the assay grade and thickness
of mineralization being reported from the drillholes. Gold as well
as silver assays are showing the significance of the North Basin
structural zone, and drilling is extending the Section Line deposit
to the west. The results show the Wilco project has gold grade and
expansion potential. An upcoming drillhole will target the
intersection of the North Basin high-grade zone and the anticline
of the Section Line deposit. This area has potential for additional
high grade gold and silver as well as expansion and grade potential
for the resource."
Assay results for the lower mineralized zone encountered in
WRC-005 and WRC-006 were originally released on January 25, 2011.
These drillholes are reported again to show the upper mineralized
zone that starts at approximately 80 metres down the hole.
Drillholes WR-007, WRC-008, and WRC-009 also intersected the upper
mineralized zone.
As announced on May 18, 2010, May 11, 2009, and June 2, 2009 in
respect of the Lincoln Hill, Wilco, and Jessup projects, Rye Patch
Gold's resource inventory now totals 1,182,780 ounces of gold and
gold equivalent in the measured and indicated category plus
2,727,100 ounces of gold and gold equivalent in the inferred
category. Table 2 summarizes Rye Patch Gold's precious metal
inventory in Nevada, USA.
---------------------------------------------------------------------------
Table 2: Rye Patch Gold's NI43-101 Resource Inventory (1)
---------------------------------------------------------------------------
Contained Au
Tonnes Gold Silver Contained Contained & Au
Resource (X Grade Grade Gold Silver Equivalent
Property Category 1,000) (g/t) (g/t) Ounces Ounces Ounces(4)
---------------------------------------------------------------------------
Wilco(2) Measured 7,526 0.69 4.595 164,000 1,111,000 186,220
Indicated 30,844 0.51 3.601 522,000 3,638,000 594,760
Inferred 121,838 0.41 5.075 1,660,000 19,871,000 2,057,420
---------------------------------------------------------------------------
Jessup Measured 7,775 0.51 8.745 128,000 2,184,000 171,680
(2) Indicated 12,642 0.41 7.167 172,000 2,906,000 230,120
Inferred 4,494 0.55 7.922 77,000 1,146,000 99,920
---------------------------------------------------------------------------
Lincoln Measured - - - - - -
Hill(3) Indicated - - - - - -
Inferred 17,215 0.69 17.143 380,000 9,488,000 569,760
---------------------------------------------------------------------------
Total Measured & Indicated Resources 986,000 9,839,000 1,182,780
Total Inferred Resources 2,117,000 30,505,000 2,727,100
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(1) All resources on 100% basis. Metallurgical recoveries and net smelter
returns are assumed to be 100%. Conforms to 43-101 resource definitions;
(2) Cutoff grade for Wilco Measured and Indicated resource is reported at
0.2 g/t Au for oxide mineralisation and 1.45 g/t Au for sulphide
mineralisation. The Inferred resource cut-off grade is reported at 0.2
g/t Au for oxide, sulphide and carbonaceous ore types; however, a higher
opt Au cut-off grade may be required to upgrade the inferred resource to
the measured and indicated resource category. Cut-off grade for Jessup
is reported at 0.2 g/t Au for oxide mineralisation and 0.34 g/t Au for
transition and sulphide mineralisation; and
(3) The Inferred resource is reported at a cut-off grade of 0.34 g/t (0.01
opt) Aueq for oxide and transitional ore types;
(4) Wilco, Jessup and Lincoln Hill resources includes Au equivalent ounces
(Aueq.); where Aueq. = (Au ozs) + (Ag ozs X $Ag/oz)/$Au/oz, for Au/oz =
$900, and Ag/oz = $18.
---------------------------------------------------------------------------
Mr. William Howald, AIPG Certified Professional Geologist
#11041, Rye Patch Gold's CEO and President, is a Qualified Person
as defined under National Instrument 43-101. He has verified the
information contained in, and has reviewed and approved the
contents of, this news release.
Rye Patch Gold maintains a strict quality control program at all
of its projects. Drill samples are picked up by American Assay's
preparation and analytical facility located in Reno, Nevada. Gold
analyses are conducted on 1-assay ton prepped samples with gold
determined using industry standard fire assay methods with an
atomic absorption finish. Gold over limits are determined using
fire assay with a gravimetric finish. Silver is analyzed using a
four-acid digestion and an AA finish.
Rye Patch Gold Corp. is exploring well-known mineral trends in
Nevada - the world's fourth-richest gold region. Starting with
150,000 inferred ounces of gold in mid-2007, this well-funded
Company now has 1.2-million ounces of gold and gold equivalent in
the measured and indicated category, plus 2.7-million ounces of
gold and gold equivalent in the inferred category. Rye Patch Gold
is a Tier 1, Nevada-focused and discovery-driven company seeking to
build a sizeable inventory of gold and silver resource assets in
the mining friendly state of Nevada, USA. The Company's seasoned
management team is engaged in acquisition, exploration and
development of quality resource-based gold and silver projects. Rye
Patch Gold is developing its primary assets - the advanced-stage
Wilco, Lincoln Hill, Jessup, and Gold Ridge projects located along
the emerging Oreana gold trend in west-central Nevada. The Company
has established gold and silver resource milestones and time frames
in order to build a premier resource development company. For more
information about Rye Patch Gold, please visit our website at
www.ryepatchgold.com.
On behalf of the Board of Directors
William C. (Bill) Howald, CEO & President
This news release contains forward-looking statements, which
address future events and conditions, which are subject to various
risks and uncertainties. The Company's actual results, programs and
financial position could differ materially from those anticipated
in such forward-looking statements as a result of numerous factors,
some of which may be beyond the Company's control. These factors
include: the availability of funds; the timing and content of work
programs; results of exploration activities and development of
mineral properties, the interpretation of drilling results and
other geological data, the uncertainties of resource and reserve
estimations, receipt and security of mineral property titles;
project cost overruns or unanticipated costs and expenses,
fluctuations in metal prices; currency fluctuations; and general
market and industry conditions.
Forward-looking statements are based on the expectations and
opinions of the Company's management on the date the statements are
made. The assumptions used in the preparation of such statements,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Rye Patch Gold Corp. William C. (Bill) Howald CEO
& President (604) 638-1588 (604) 638-1589 (FAX)
info@ryepatchgold.com www.ryepatchgold.com
Rye Patch Gold Corp. (TSXV:RPM)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Rye Patch Gold Corp. (TSXV:RPM)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
