Rye
Patch Announces Results of 2011 Lincoln Hill Drill Program
Vancouver, British Columbia, December 8, 2011 - Rye Patch Gold Corp
(TSX.V: RPM; OTCQX: RPMGF) ("Rye Patch" or the "Company") is pleased to announce the assay results of its 2011 drill program at the
100% owned and controlled
Lincoln Hill project. The Lincoln Hill project was acquired
in 2007, by a combination
of staking unpatented lode mining claims and completing lease agreements with two separate local prospectors.
Highlights:
- In-fill drilling
on the Lincoln Hill resource connects the Main zone with
the Shaft zone along
a near-surface, stratabound
gold and silver zone. The drilling
may add additional resource ounces to the Lincoln Hill resource;
- Step-out drilling on the
Lincoln Hill resource shows expansion potential down dip and to
the northeast. Four drillholes
define an area measuring 250 metres by 70
metres with gold and
gold equivalent grades reaching
5.87 g/t Aueq over 4.6m; and
- Exploration drilling on the
Jefferson zone defines an area
measuring 300 metres
by 80 metres where drillhole LR-061 cut three metres grading 0.25 g/t Au and 509.5 g/t Ag for a gold equivalent grade of 10.44 g/t Aueq.
The drill campaign completed
8,288 metres in 40
reverse circulation (RC) drillholes, and 1,258 metres in 5 core
holes located in the
Central and North Jefferson zone, Washington target, Western Dyke target and
in-fill drilling within the Lincoln Hill resource.
The drilling program was designed to test new targets, expand the existing resource, and in-fill drilling to increase the
confidence and upgrade the Lincoln Hill resource. Three drillholes were completed in the
Washington zone, ten drillholes
in Central Jefferson zone, ten drillholes
in the North Jefferson zone, two
drillholes in the Western Dyke target,
and twenty in-fill drillholes in the Lincoln Hill resource.
"The Company is delighted
by the results of the Lincoln Hill drilling program. Management believes
the drilling within the
Lincoln Hill resource has upgraded
the confidence of a portion of the resource as well as expanded the current resource. Drilling in the Jefferson zone returned
good mineralization in the North
sector where drilling has defined a new zone
300 metres by 80 metres,
and drilling between the shaft and main zone is now connected by a near-surface, flat-lying stratabound zone. In 2012, Rye
Patch will return to drill the Lincoln Hill resource, Jefferson zone, Washington trend and the newly identified Roosevelt target", stated
William C. (Bill) Howald, the Company's
President and CEO.
Lincoln Hill Resource Expansion Drilling
At Lincoln Hill LR-074 (0.31 g/t Aueq. over 32m) and LRC-007 (0.39 g/t Aueq.
over 22.4m) targeted an untested
lamprophyre dyke beneath a
dumortierite cap unit. The dyke is
located southwest of
Lincoln Hill resource area. The dyke has an exposure of 400 metres and
shows thick intervals of
gold and silver mineralization.
The newly identified area
has expansion potential to the southeast
and will be addressed in next year's drilling program.
LR-077 tested the deep
extension of the lamprophyre dyke below the historic Lincoln Hill underground mine. Low-grade mineralization was intercepted at 262.1 to 271.3 (0.56 g/t Aueq.
over 9.1m). LR-078 also tested
the shaft zone in depth.
A new breccias zone was intercepted at a depth of 218m. The breccia body
may indicate a more robust system at depth and will be follow up.
Drillholes LR-079, LR-080, LR-081 and LR-092 are
expansion drilling around
the Lincoln Hill resource. Large low-grade mineral envelopes surrounding higher grade zones were delineated in these drillholes. Significant mineralized thicknesses were found starting
at the surface. Drillhole
LR-079 returned 0.44 g/t Aueq.
over 166 metres, LR-080 intersected
0.4 g/t Aueq. over 76.2 metres,
and LR-081 cut 65.5 metres
grading 0.45 g/t Aueq.
High-grade zones within the low-grade
envelope returned 5.87
g/t Aueq. over 4.6m, and 7.5 g/t Aueq over 3m in drillholes
LR-079 and LR-092 respectively. The four holes represent an expansion of
the Lincoln Hill resource area towards
the northeast covering an
area of 250 metres by 70 metres.
Lincoln Hill Resource In-Fill Drilling
LR-075 and LR-76 are in-fill drilling
to test down dip mineralization
along the lamprophyre dykes within
the Lincoln Hill resource. LR-075 hit 3.64 g/t Aueq. at a depth
of 71.6 metres to 73.2 metres
showing mineralization is open down dip. Both drillholes returned thick low-grade intercepts starting from the surface.
LR-082 through LR-086, LR-090 and LR-091 are in-fill drilling at the Lincoln Hill resource.
The drilling confirms the
presence of thick, near surface, stratabound gold-silver zone that connects the main zone and the shaft
zone. This new drilling is
expected to upgrade and add
ounces to the Lincoln Hill resource.
LR-087 (356 g/t Ag over 1.5m) tested the southwest extension of the shaft
zone beneath the dumortierite
cap. It expands mineralization
85 metres to the southwest.
The Shaft zone is open to
southwest. LR-089 tested
the extension of the stratabound mineralization beneath the dumortierite.
Jefferson Zone Drilling
In the North Jefferson zone, drillholes
LR-061 through LR-066 intersected
quartz tourmaline veins with
significant silver
grades. Drillhole LR-061 cut
three metres grading 0.25 g/t Au and 509.5 g/t Ag for a gold equivalent grade of 10.44 g/t Aueq.
Drillholes LR-062 to LR-066 targeted
several lamprophyre dykes with
surface gold anomalies. Both the lamprophyre dykes
and the quartz tourmaline veins are oriented northwest within a mineralized envelope measuring 80-metres in
width and approximately
300 metres in length.
Gold and silver mineralization
is open along strike to the northwest and southeast.
Drillholes LR-067 through
LR-071, LR-073, LRC-006 and LRC-008 are located in
the Central Jefferson zone. Mineralization in this portion of the Jefferson zone is
silver dominated with minor gold. Mineralization is associated with lamprophyre
dykes adjacent to the rhyolite-andesite volcanic contact and at the
intersection of faults and lamprophyre dykes. Additional work is warranted to understand the mineralization controls and geometry.
LR-072 and LR-094 targeted a ground
magnetic anomaly parallel to the Jefferson zone called
the Western Dyke target. The magnetic
anomaly suggested a third lamprophyre dyke zone. Drilling
intercepted a weakly altered lamprophyre dyke; however,
no mineralization was encountered.
Washington Zone Drilling
LRC-005 intercepted 7.2 g/t Aueq.
over 1.1 metres in the Washington zone and expanded the zone 360 metres to
the southwest.
Table 1 summarizes the assay
results of the Lincoln Hill drilling
program using a 0.2g/t Aueq cutoff.
Table 1: Lincoln Hill Project - 2011 Drilling
Program Results
|
Drillhole
|
Remarks
|
Au
|
Ag
|
Aueq
|
Drillhole interval
|
From
|
To
|
Total Depth
|
g/t
|
g/t
|
g/t
|
metres (1)
|
metres
|
metres
|
Metres
|
LRC-005
|
Washington zone
|
0.03
|
40.5
|
0.84
|
0.5
|
75.7
|
76.1
|
273.71
|
LRC-005
|
Washington zone
|
5.90
|
64.9
|
7.20
|
1.1
|
150.1
|
151.2
|
LRC-006
|
Central Jefferson
|
NSA
|
277.37
|
LRC-007
|
Lincoln Hill
|
0.24
|
6.2
|
0.36
|
22.4
|
115.0
|
137.4
|
202.69
|
LRC-008
|
Central Jefferson
|
0.15
|
21.3
|
0.58
|
18.7
|
185.8
|
204.5
|
229.73
|
Including
|
0.78
|
126.0
|
3.30
|
1.2
|
202.1
|
203.3
|
LRC-009
|
North Jefferson
|
0.02
|
38.0
|
0.78
|
1.2
|
118.3
|
119.5
|
274.32
|
LR-061
|
North Jefferson
|
0.25
|
509.5
|
10.44
|
3.0
|
41.1
|
44.2
|
135.64
|
LR-062
|
North Jefferson
|
0.35
|
1.5
|
0.38
|
12.2
|
74.7
|
86.9
|
144.78
|
LR-063
|
North Jefferson
|
0.12
|
12.9
|
0.38
|
51.8
|
48.8
|
100.6
|
124.97
|
Including
|
0.13
|
13.4
|
0.40
|
16.8
|
48.8
|
65.5
|
Including
|
0.19
|
11.6
|
0.42
|
3.0
|
74.7
|
77.7
|
Including
|
0.17
|
26.9
|
0.71
|
10.7
|
86.9
|
97.5
|
LR-064
|
North Jefferson
|
NSA
|
160.02
|
LR-065
|
North Jefferson
|
0.19
|
2.3
|
0.24
|
12.2
|
102.1
|
114.3
|
167.64
|
LR-066
|
North Jefferson
|
0.28
|
6.3
|
0.41
|
12.2
|
7.6
|
19.8
|
152.40
|
LR-066
|
North Jefferson
|
0.03
|
20.0
|
0.43
|
13.7
|
41.1
|
54.9
|
LR-066
|
North Jefferson
|
0.21
|
6.6
|
0.34
|
7.6
|
115.8
|
123.4
|
LR-067
|
Central Jefferson
|
0.23
|
27.8
|
0.79
|
47.2
|
207.3
|
254.5
|
281.94
|
Including
|
0.87
|
121
|
3.29
|
1.5
|
210.3
|
211.8
|
LR-068
|
Central Jefferson
|
NSA
|
121.92
|
LR-069
|
Central Jefferson
|
0.06
|
7.0
|
0.2
|
13.7
|
192.0
|
205.7
|
243.84
|
LR-070
|
Central Jefferson
|
NSA
|
152.40
|
LR-071
|
Central Jefferson
|
0.15
|
5.6
|
0.26
|
7.6
|
184.4
|
192.0
|
220.98
|
LR-071
|
Central Jefferson
|
0.06
|
10.8
|
0.28
|
9.1
|
205.7
|
214.9
|
LR-072
|
Western Dyke
|
NSA
|
123.44
|
LR-073
|
Central Jefferson
|
NSA
|
138.68
|
LR-074
|
Lincoln Hill
|
0.18
|
6.4
|
0.31
|
32.0
|
91.4
|
123.4
|
220.98
|
Including
|
0.55
|
28.9
|
1.13
|
4.6
|
118.9
|
123.4
|
LR-075
|
Lincoln Hill
|
0.26
|
5.7
|
0.37
|
88.4
|
12.2
|
100.6
|
208.79
|
Including
|
3.1
|
27.1
|
3.64
|
1.5
|
71.6
|
73.2
|
LR-076
|
Lincoln Hill
|
0.11
|
4.7
|
0.21
|
93.0
|
33.5
|
126.5
|
178.31
|
LR-077
|
Lincoln Hill
|
0.21
|
6.6
|
0.34
|
32.0
|
61.0
|
93.0
|
304.80
|
LR-077
|
Lincoln Hill
|
0.09
|
8.0
|
0.25
|
35.1
|
161.5
|
196.6
|
LR-077
|
Lincoln Hill
|
0.21
|
17.6
|
0.56
|
9.1
|
262.1
|
271.3
|
LR-078
|
Lincoln Hill
|
0.08
|
6.0
|
0.20
|
39.6
|
1.5
|
41.1
|
260.60
|
LR-079
|
Lincoln Hill
|
0.16
|
14.1
|
0.44
|
166.1
|
0.0
|
166.1
|
196.60
|
Including
|
1.83
|
202
|
5.87
|
4.6
|
153.9
|
158.5
|
LR-080
|
Lincoln Hill
|
0.17
|
11.6
|
0.40
|
76.2
|
0.0
|
76.2
|
190.50
|
LR-080
|
Lincoln Hill
|
0.06
|
8.3
|
0.23
|
13.7
|
93.0
|
106.7
|
LR-080
|
Lincoln Hill
|
0.12
|
4.7
|
0.21
|
4.6
|
120.4
|
125.0
|
LR-080
|
Lincoln Hill
|
0.13
|
4.1
|
0.21
|
29.0
|
158.5
|
187.5
|
LR-081
|
Lincoln Hill
|
0.25
|
10.1
|
0.45
|
65.5
|
0.0
|
65.5
|
167.64
|
LR-081
|
Lincoln Hill
|
0.70
|
0.7
|
0.71
|
3.0
|
112.8
|
115.8
|
LR-081
|
Lincoln Hill
|
0.11
|
14.2
|
0.39
|
15.2
|
144.8
|
160.0
|
LR-082
|
Lincoln Hill
|
0.09
|
7.2
|
0.23
|
45.7
|
0.0
|
45.7
|
230.12
|
LR-082
|
Lincoln Hill
|
0.09
|
13.4
|
0.36
|
36.6
|
123.4
|
160.0
|
LR-082
|
Lincoln Hill
|
0.48
|
128
|
3.04
|
1.5
|
123.4
|
125.0
|
LR-083
|
Lincoln Hill
|
0.21
|
9.2
|
0.39
|
36.6
|
0.0
|
36.6
|
105.16
|
LR-084
|
Lincoln Hill
|
0.2
|
11.9
|
0.44
|
123.4
|
0.0
|
123.4
|
152.40
|
LR-085
|
Lincoln Hill
|
0.08
|
8.9
|
0.26
|
27.4
|
18.3
|
45.7
|
156.97
|
LR-085
|
Lincoln Hill
|
0.1
|
12.4
|
0.35
|
59.4
|
76.2
|
135.6
|
LR-086
|
Lincoln Hill
|
0.1
|
26.3
|
0.63
|
24.4
|
18.3
|
42.7
|
149.35
|
LR-086
|
Lincoln Hill
|
0.06
|
12.7
|
0.31
|
44.2
|
100.6
|
144.8
|
LR-087
|
Lincoln Hill
|
0.21
|
356
|
7.33
|
1.5
|
131.1
|
132.6
|
175.26
|
LR-087
|
Lincoln Hill
|
0.1
|
5.4
|
0.21
|
10.7
|
152.4
|
163.1
|
LR-088
|
Lincoln Hill
|
RC hole lost at 27.43m
|
27.43
|
LR-089
|
Lincoln Hill
|
0.41
|
3.8
|
0.49
|
3.0
|
85.3
|
88.4
|
123.44
|
LR-089
|
Lincoln Hill
|
0.32
|
1.4
|
0.35
|
4.6
|
102.1
|
106.7
|
LR-090
|
Lincoln Hill
|
0.14
|
27.7
|
0.69
|
68.6
|
19.8
|
88.4
|
143.26
|
LR-090
|
Lincoln Hill
|
0.76
|
308
|
6.92
|
1.5
|
35.1
|
36.6
|
LR-090
|
Lincoln Hill
|
0.83
|
134
|
3.51
|
1.5
|
44.2
|
45.7
|
LR-091
|
Lincoln Hill
|
0.09
|
6.1
|
0.21
|
19.8
|
3.0
|
22.9
|
160.02
|
LR-091
|
Lincoln Hill
|
0.09
|
13.2
|
0.35
|
18.3
|
33.5
|
51.8
|
LR-091
|
Lincoln Hill
|
0.06
|
7.4
|
0.21
|
9.1
|
68.6
|
77.7
|
LR-092
|
Lincoln Hill
|
0.26
|
11.4
|
0.49
|
22.9
|
9.1
|
32.0
|
188.98
|
LR-092
|
Lincoln Hill
|
0.2
|
5.2
|
0.30
|
10.7
|
54.9
|
65.5
|
LR-092
|
Lincoln Hill
|
0.23
|
62
|
1.47
|
19.8
|
93.0
|
112.8
|
LR-092
|
Lincoln Hill
|
0.97
|
326.6
|
7.50
|
3.0
|
108.2
|
111.3
|
LR-093
|
Washington zone
|
NSA
|
243.84
|
LR-094
|
Western Dyke
|
NSA
|
243.84
|
LR-095
|
Central Jefferson
|
0.15
|
6.4
|
0.28
|
56.4
|
214.9
|
271.3
|
274.32
|
LR-096
|
Central Jefferson
|
0.13
|
28.2
|
0.69
|
1.5
|
153.9
|
155.4
|
160.02
|
LR-097
|
Central Jefferson
|
NSA
|
152.40
|
LR-098
|
North Jefferson
|
0.19
|
6.5
|
0.32
|
42.7
|
10.7
|
53.3
|
121.92
|
LR-099
|
North Jefferson
|
0.06
|
20.5
|
0.47
|
16.8
|
39.6
|
56.4
|
97.54
|
LR-100
|
North Jefferson
|
NSA
|
227.08
|
(1) True thickness unknown
(2) NSA = No Significant Assays
Rye Patch Gold maintains a strict quality control program at all
of its projects. All
reverse circulation and core samples
are submitted to American Assay
with prep-blanks, assay blanks, and gold and silver standards. Rye Patch Gold inserts approximately one quality
control or quality assurance samples
for every twenty samples submitted to the assay laboratory. The drill core and RC chips are logged
and photograph on site. American Assay collects the samples and transports them to their 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 values above 10 g/t gold (over limits) are confirmed using fire assay
with a gravimetric
finish. Silver is analyzed using a four-acid digestion and an AA finish. Silver
values over 100 g/t silver are re-analyzed
using volumetric
dissolution.
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 along the Oreana trend 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 does
not include reserves and resources acquired on the Company's 100% owned LH claims.
Table 2: Rye Patch Gold's NI43-101
Resource Inventory (1)(5)
|
Property
|
Resource
Category
|
Tonnes (X 1,000)
|
Gold Grade (g/t)
|
Silver Grade (g/t)
|
Contained Gold Ounces
|
Contained Silver Ounces
|
Contained Gold & Gold Equivalent 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(2)
|
Measured
|
7,775
|
0.51
|
8.745
|
128,000
|
2,184,000
|
171,680
|
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 Hill (3)
|
Measured
|
-
|
-
|
-
|
-
|
-
|
-
|
Indicated
|
-
|
-
|
-
|
-
|
-
|
-
|
Inferred
|
17,215
|
0.69
|
17.143
|
380,000
|
9,488,000
|
569,760
|
Total Oreana Trend Measured & Indicated Resources
|
986,000
|
9,839,000
|
1,182,780
|
Total Oreana Trend 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; and
(5) Table 2 does not include
reserves and resources acquired on the Company's
100% owned LH claims.
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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 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 owns
and controls over 165 square kilometres
of prime mineral claims and leases
along the Oreana and
Cortez trends. The Company is
developing gold and silver
assets along the emerging Oreana trend, located in west-central Nevada,
and is exploring 65
square kilometres along
the Cortez trend adjacent to Barrick's two new gold discoveries. 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 Howald'
William C. (Bill) Howald, CEO & President
For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589
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.
Suite 1740 - 1177 West Hastings
St., Vancouver, BC, V6E 2K3, Canada
Phone 604-638-1588 Fax
604-638-1589 www.ryepatchgold.com
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