- Published: 24 September 2008
- Written by Editor
Rye Patch Gold Drills 25 Feet Grading 2.2 Ounces/Ton Au at Lincoln Hill
Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT) ("Rye Patch" or the "Company") is excited to release the assay results from the Company's exploration drilling program on the Lincoln Hill-Gold Ridge project. The exploration program cut multi-ounce gold and silver intersections in drillhole LR-013 including 25 feet grading 2.2 ounces/ton gold from 90 to 115 feet downhole. In addition, there were numerous significant gold intervals encountered in the program. A total of 8,375 feet (2,550 metres) in 18 reverse circulation drillholes were completed. Table 1 summarizes drill interval results, using a 0.01 opt (0.34 g/t) cutoff for intervals greater than 10 feet (3 metres), for drillholes LR-001 to LR-018.
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TABLE 1: GOLD RIDGE-LINCOLN HILL PROJECT: 2008 REVERSE CIRCULATION DRILL
PROGRAM
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Drillhole Total
Target Au Ag interval From To Depth
Drillhole Area oz/ton oz/ton feet feet Feet (feet)
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LR-001 Gold Ridge 0.011 0.289 20 235 255 600
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LR-002 Gold Ridge NSV 400
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LR-003 Lincoln Hill 0.040 0.213 15 135 150
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LR-003 Lincoln Hill 0.017 0.140 20 190 210 350
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LR-003 Lincoln Hill 0.028 0.158 10 245 255
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LR-004 Lincoln Hill 0.012 0.050 20 225 245 350
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LR-005 Lincoln Hill 0.011 0.054 10 10 20 550
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LR-006 Lincoln Hill 0.018 0.115 15 0 15
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LR-006 Lincoln Hill 0.012 0.196 30 95 125 550
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LR-006 Lincoln Hill 0.015 0.047 35 265 300
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LR-007 Lincoln Hill 0.012 0.378 35 50 85 400
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LR-008 Lincoln Hill 0.013 0.232 10 95 105 380
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LR-009 Lincoln Hill 0.030 0.248 40 45 85
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Including 0.118 0.117 5 60 65
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LR-009 Lincoln Hill 0.011 0.275 15 115 130
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LR-009 Lincoln Hill 0.053 1.656 45 150 195 370
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Including 0.127 0.245 5 150 155
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Including 0.085 6.329 10 180 190
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LR-010 Lincoln Hill 0.025 7.426 30 25 55
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LR-010 Lincoln Hill 0.016 1.808 10 70 80
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LR-011 Lincoln Hill 0.010 3.121 10 275 285 285
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LR-012 Lincoln Hill 0.011 0.155 45 230 275 500
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LR-013 Lincoln Hill 0.792 1.000 70 75 145
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Including 2.200 2.400 25 90 115
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LR-013 Lincoln Hill 0.011 1.000 30 325 355
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LR-013 Lincoln Hill 0.025 1.100 20 390 410
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LR-014 Lincoln Hill 0.033 0.699 15 70 85
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LR-014 Lincoln Hill 0.020 1.125 15 130 145
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LR-015 Lincoln Hill NSV 245
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LR-016 Lincoln Hill NSV 500
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LR-017 Lincoln Hill 0.015 0.049 15 225 240
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LR-017 Lincoln Hill 0.022 0.098 35 330 365
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LR-017 Lincoln Hill 0.025 0.023 10 455 465 970
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LR-017 Lincoln Hill 0.029 0.830 15 855 870
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LR-018 Lincoln Hill 0.069 0.171 55 75 130
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Including 0.196 0.201 15 90 105
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LR-018 Lincoln Hill 0.034 0.324 45 155 200 500
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LR-018 Lincoln Hill 0.010 0.149 45 215 260
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LR-018 Lincoln Hill 0.011 0.932 30 295 320
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NSV equals No Significant Values TOTAL FOOTAGE 8,375
The Lincoln Hill drilling intersected significant gold and silver assays; however, several drillholes had significant silver assays that did not make the rigorous cut-off criteria of Table 1 because gold values are below the gold cut-off grade. These drillholes include LR-010 which cut 75 feet grading 3.396 opt Ag starting at 25 feet, drillhole LR-016 which intersected 3 zones - 55 feet grading 0.605 opt Ag, 45 feet grading 1.059 opt Ag, and 25 feet grading 1.152 opt Ag starting at 15, 140, and 330 feet respectively. Similar silver zones were also encountered in drillholes LR-007, LR-011 and LR-012.
Drilling completed at the adjacent pediment zone located within the Gold Ridge portion of the property indicates a potential new discovery. The pediment target intersected mineralized Tertiary fanglomerate similar to the Colado deposit at Wilco. This target has never been addressed and offers potential for a new discovery on the project. A drillhole location map is available on the company's website at www.ryepatchgold.com.
"These are truly phenomenal results for our first drill program on the Lincoln Hill - Gold Ridge property. The new drill intercepts on the Lincoln Hill target show the gold and silver mineralization are related to northeast structures that contain significant high-grade gold and silver values. The pediment target located on the west side of the property is within a similar geologic environment as the Colado deposit located at Wilco and could prove to have significant size. With Lincoln Hill-Gold Ridge and Wilco located within 20km of each other along easy access, the potential exists for a mining district with multiple mining operations. Similar examples exist in Nevada where a single operator has several deposits within a radius of a single mill and administration. Without getting ahead of ourselves, this drilling certainly demonstrates the merits of the project, and additional work is very much warranted", exclaimed Rye Patch's CEO and President, William C. (Bill) Howald.
At this time drill rigs are operating at Wilco and Jessup. These programs are scheduled to be completed at the end of September. The Company will have additional drill results for Wilco and Jessup over the next 10 weeks.
As released on the Company's Wilco project on May 12, 2008, and on the Jessup project in December 11, 2007, Rye Patch Gold now holds 779,517 ounces of gold and gold equivalent in the measured and indicated category plus 1,151,776 ounces of gold and gold equivalent in the inferred category. The table below summarizes the resources for Rye Patch Gold's advance projects.
Table 2: Rye Patch Gold's NI43-101 Gold Resource Inventory
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RYE PATCH GOLD RESOURCES
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Con-
tained
Con- Con- Gold
Gold Silver tained tained & Gold
Resource Tons Grade Grade Gold Silver Equiv.
Property Category(1) (X 1,000) opt opt Ounces Ounces Ounces(3)
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Wilco(2) Measured 8,091 0.018 NC 146,701 NC 146,701
Indicated 32,950 0.015 NC 478,816 NC 478,816
Inferred 99,978 0.011 NC 1,124,776 NC 1,124,776
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Jessup(2) Measured 0 0 0 0 0 0
Indicated 5,423 0.022 0.31 120,000 1,655,000 154,000
Inferred 1,265 0.017 0.23 22,000 286,000 27,000
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Total Measured Resources 146,701 0 146,701
Total Indicated Resources 598,816 1,655,000 632,816
Total Inferred Resources 1,146,776 286,000 1,151,776
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(1) Conforms to 43-101 definitions for resources. All numbers are rounded.
(2) Cutoff grade for Willard Measured and Indicated resource is reported at
0.0056 opt Au for oxide mineralisation and 0.042 opt Au for sulphide
mineralisation. The Inferred resource is reported at 0.0056 opt 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. Cutoff grade for Jessup is
0.01 oz Au/t for oxide mineralisation, 0.015 oz Au/t for mixed
material, and 0.025 oz Au/ton for all unoxidised material;
(3) Jessup Resource includes Au equivalent ounces (50g/t Ag equals 1g/t
Au). NC equals not calculated
Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold's CEO and President, is the Qualified Person as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.
Mr. Shea Clark-Smith is overseeing the gold assay and geochemical quality control and assurance programs for Rye Patch Gold's drill programs at Wilco, Jessup and Lincoln Hill. He is responsible for creating, administering, and monitoring sample preparation and analytical QA/QC procedures for the drilling program. In sum, the QA/QC procedures will provide several measures of data quality and assure the Company that the data is representative of the original sample.
Rye Patch Gold maintains a strict quality control program at all of its projects. ALS Chemex collects the Wilco, Lincoln Hill-Gold Ridge, and Jessup drill samples onsite and transports the samples directly to the ALS Chemex's preparation and analysis facility located in Reno, Nevada. Analyses are conducted on 1-assay ton prepped samples with gold determined using industry standard fire assay methods, with an atomic absorption finish.
Rye Patch Gold Corp. is a Nevada-focused and discovery-driven company building a sizeable inventory of gold 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 projects. Rye Patch Gold is developing its primary assets - the advanced-stage Wilco project located within the Humboldt Gold Trend in west-central Nevada and the Jessup project in Churchill County, Nevada. The Company is seeking gold opportunities that continue to create shareholder value and leverage the gold price. The Company's goal is to have 5-million ounces of gold inventory within the next 3 years. 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
SOURCE: Rye Patch Gold Corp.
Rye Patch Gold Corp.
Karen Robb
Manager, Investor Relations
(604) 638-1588
(604) 638-1589 (FAX)
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.ryepatchgold.com
Renmark Financial Communications Inc.
Christine Stewart
Senior Account Manager
(416) 644-2020
(416) 644-2021 (FAX)
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.renmarkfinancial.com
