Rye Patch Gold Corp.

Published : January 25th, 2011

Continues Drilling Success at Wilco

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Rye Patch Gold continues drilling success at wilco

 

 

 

 

 

Rye Patch Gold Corp (TSX VENTURE:RPM - News; OTCBB:RPMGF - News; "Rye Patch" or the "Company") reports initial results from its 2011 drilling campaign on its 100% controlled Wilco project.

HIGHLIGHTS:


--  Core drilling confirms the high-grade gold zone on north side of the
    Section Line resource along the North Basin structural zone;
--  Core drilling intersects high-grade gold at multiple locations along
    strike; and
--  Gold zone is open to the west-southwest.

The 2011 Wilco drilling program has several objectives to complete. The first objective is to understand the high-grade gold zone located on the north side of the Section Line discovery. The core-drilling program suggests the geologic model is predictive and the Company is able to target and intersect the high-grade zone. Drillhole results from WRC-005 and WRC-006 show continuity for over 100 metres along the zone. Table 1 summarizes the results using a 0.30 g/t gold cut off from the results received to date. Aueq equals the gold assay plus the silver assay divided by 50 (Aueq. = Au + (Ag/50)).


----------------------------------------------------------------------------
----------------------------------------------------------------------------
            Table 1: Wilco Project - North Basin High Grade Zone          
----------------------------------------------------------------------------
                                         Drillhole                         
                      Au     Ag    Aueq   interval   From     To Total Depth
Drillhole Remarks    g/t    g/t     g/t     metres metres metres      metres
----------------------------------------------------------------------------
WRC-005   North                                                           
          Basin    3.489  9.781   3.685       10.6  337.7  348.4       377.4
----------------------------------------------------------------          
     Including     9.980  5.650  10.093        3.0  339.6  342.6          
----------------------------------------------------------------------------
WRC-006   North                                                           
          Basin    1.826 11.441   2.055       31.1  315.5  346.6       361.8
----------------------------------------------------------------           
     Including     5.971 22.197   6.415        4.9  331.5  336.4          
----------------------------------------------------------------------------
----------------------------------------------------------------------------

The second objective of the program is to step out along the zone to the west. As presently understood, the North Basin high-grade zone is 100 metres wide and 200 metres long. The zone is open to the west and has geologic potential along a one-kilometre strike length. The high-grade zone is sub-parallel to the Section Line anticline that is the host for the bulk of the Section Line deposit. The orientation of the North Basin high-grade zone suggests the zone will intersect the Section Line anticline approximately 900 metres west-southwest of the current drilling pattern. The area between the current drilling and the proposed intersection will be tested with this round of drilling.

William C. (Bill) Howald, the Company's President and CEO commented, "We are extremely pleased with the start of the 2011 core drilling program on our 100% controlled Wilco property. The drilling shows the property has good upside and expansion potential that could add to the existing resource."

The program is budgeted for 10 core holes totaling 2,500 metres. At present, two drillholes have been completed, one is in progress, and five more are planned in the high-grade North Basin zone. The Company will drill two core holes in the Section Line resource. The holes will test extensions of the resource to the west.

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        & Au
         Resource      (X  Grade  Grade   Contained      Silver  Equivalent
Property Category  1,000)  (g/t)  (g/t) Gold Ounces      Ounces  Ounces (4)
---------------------------------------------------------------------------
Wilco    Measured   7,526   0.69  4.595     164,000   1,111,000     186,220
(2)      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 on site 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.

 

 

Rye Patch Gold Corp.

EXPLORATION STAGE
CODE : RPM.V
ISIN : CA7837271005
CUSIP : 783727 10 0
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Rye Patch Gold is a gold exploration company based in Canada.

Rye Patch Gold holds various exploration projects in USA.

Its main exploration properties are LINCOLN HILL, JESSUP, WILCO, GARDEN GATE PASS and GOLD RIDGE NEVADA in USA.

Rye Patch Gold is listed in Canada. Its market capitalisation is CA$ 410.5 millions as of today (US$ 318.7 millions, € 273.4 millions).

Its stock quote reached its lowest recent point on February 20, 2009 at CA$ 0.10, and its highest recent level on January 19, 2018 at CA$ 1.66.

Rye Patch Gold has 387 300 000 shares outstanding.

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Financings of Rye Patch Gold Corp.
12/24/2009Closes First Tranche Of Private Placement
12/15/2009Announces Private Placement
12/15/2008Announces Private Placement
5/16/2008Rye Patch Announces Follow-Up Private Placement
5/16/2008Rye Patch Closes $1.25 Million Private Placement
Option Grants of Rye Patch Gold Corp.
6/11/2008Grants Stock Options
Nominations of Rye Patch Gold Corp.
10/22/2007Hires Manager Of Investor Relations
Project news of Rye Patch Gold Corp.
2/14/2014Discusses Exploration Programs And Budget For 2014
12/31/2013Coeur Rochester Mine Royalty Starts At Midnight
8/6/2013Quantifies 3.4% NSR Coeur Rochester Mine Royalty
5/9/2013(Lincoln Hill)Reports Lincoln Hill Exploration Update
5/8/2013Reports LH Claims Exploration Results
2/21/2013Expands Mystic And South Packard Pediment Silver-Gold Zones ...
10/1/2012Rye Patch Updates Gold Exploration Along the Cortez Trend
9/17/2012Rye Patch Announces Updated Gold and Silver Resources Within...
9/17/2012Rye Patch Announces Updated Gold and Silver Resources Within...
9/17/2012(Lincoln Hill)Announces Updated Gold and Silver Resources Within an Open P...
7/10/2012Rye Patch Intersects More Gold and Silver on the LH Claims
6/29/2012Rye Patch Leases Additional Land on the Rochester Project
6/27/2012Rye Patch Announces 1=2E28 Million ozs ofGold in the Measure...
5/30/2012(Garden Gate Pass)Starts Drilling at Garden Gate Pass
2/22/2012s Exploration Progress on Rochester Project
2/21/2012(Garden Gate Pass)Garden Gate Pass Project on Major Discovery Trend
2/1/2012(Gold Ridge Nevada)Reports Gold And Silver Assays From Gold Ridge
1/24/2012Stakes More Claims And Starts Drilling At Rochester
1/9/2012Makes New Gold and Silver Discoveries on the Rochester Prope...
1/6/2012(Garden Gate Pass)Bill Howald interviewed by Smallcappower.com regarding the r...
12/8/2011(Lincoln Hill)Announces Results of 2011 Lincoln Hill Drill Program
12/5/2011Expands Oreana Trend Holdings Stakes Mining Claims On Existi...
10/3/2011(Lincoln Hill)Finds New High-Grade Gold And Silver Zones At Lincoln Hill
9/13/2011(Garden Gate Pass)is Drilling at Garden Gate Pass Project
8/9/2011(Garden Gate Pass)is Ready to Drill Garden Gate Pass Project
7/27/2011(Wilco)Reports Metallurgical Results From Wilco
6/2/2011(Wilco)Drills Thick Gold Zone at Wilco
5/25/2011(Lincoln Hill)Starts Drilling on Jefferson Zone at Lincoln Hill
5/16/2011Resource Clips: Rye Patch Works Toward Eight Million Nevada ...
5/9/2011(Wilco)Extends North Basin High-Grade Zone At Wilco
4/20/2011(Jessup)Adds Jessup to 2011 Program and Budget
3/3/2011(Wilco)Drills More High-Grade Gold at Wilco
2/17/2011(Wilco)Announces 2011 Programs and Budgets for Nevada Portfolio
2/17/2011(Jessup)Announces 2011 Programs and Budgets for Nevada Portfolio
2/17/2011(Gold Ridge Nevada)Announces 2011 Programs and Budgets for Nevada Portfolio
2/8/2011(Lincoln Hill)Drills Thick Zones of Gold and Silver at Gold Ridge
1/25/2011(Wilco)Continues Drilling Success at Wilco
1/12/2011(Lincoln Hill)Drills New Gold and Silver Zone on Lincoln Hill
8/11/2010(Lincoln Hill)Identifies New Gold Target Along The Oreana Trend
6/30/2010(Lincoln Hill)Files Technical Report on Lincoln Hill Resource
6/7/2010(Wilco)Drills 44.5 G/T Au and 36.3 G/T Ag over 1.5 Metres at Wilco
12/10/2009(Lincoln Hill)Drills 21.19 g/t Gold Over 7.0 Metres At Lincoln Hill
11/13/2009(Lincoln Hill)Drills 15.2 G/T Gold And 308 G/T Silver Over 3 Metres At Lin...
6/11/2009(Lincoln Hill)Plans Program for High-Grade Gold at Lincoln Hill Project
6/2/2009(Jessup)Jessup Gold and Silver Resource Estimate
11/25/2008(Wilco)Drills 38.1 Metres Grading 2.61 G/T Au In New Target At Wilc...
11/12/2008(Jessup)Drills 7.6 Metres Grading 9.19 G/T Au At Jessup
6/17/2008(Wilco)Begins 2008 Drilling on Wilco Project to Expand Known Gold R...
5/12/2008(Wilco)Outlines Oxide Characteristics Of Wilco Resource
3/27/2008(Jessup)Extends Gold Mineralization At The Jessup Resource Project
3/12/2008(Lincoln Hill)Discusses Progress At The Lincoln Hill/Gold Ridge Project
1/9/2008(Wilco)Drills 176 Feet Of 0.030 Opt Gold At Wilco Discovery
Corporate news of Rye Patch Gold Corp.
7/29/2016Rye Patch Announces Acquisition of the Florida Canyon Gold M...
7/9/2016Rye Patch Announces Filing of NI 43-101 Technical Report on ...
6/16/2016Rye Patch Announces Completion of Cdn$49.1 Million Private P...
6/2/2016Rye Patch Announces Cdn$40 Million Private Placement of Subs...
5/25/2016Rye Patch Signs Agreement to Acquire Florida Canyon Gold Min...
1/14/2016Rye Patch Stakes claims along Gold Ridge-Florida Canyon tren...
12/18/2015Rye Patch Amends Patty Agreement with Barrick and Provides U...
12/15/2015Caesars Report's Thibaut Lepouttre Interviewed by The Gold R...
10/29/2015Rye Patch receives $1,462,300 quarterly royalty payment
10/28/2015Rye Patch Begins Drilling Within the Lincoln Hill Resource C...
10/19/2015U.S. Global Investors' Frank Holmes and Ralph Aldis Intervie...
9/15/2015Rye Patch Completes Metallurgical Drill Program at Lincoln H...
8/28/2015Rye Patch Gold Grants Stock Options
8/11/2015Rye Patch Arbitrates Q1 2014 Royalty Payment with Coeur
7/16/2015Rye Patch receives $1,490,000 quarterly royalty payment
7/9/2015Rye Patch Purchased and Cancelled 923,500 Common Shares in Q...
4/16/2015Rye Patch Receives $1,850,000 Quarterly Royalty Payment
4/9/2015Rye Patch Completes Land Purchase at Lincoln Hill
4/9/2015Rye Patch Hires Lincoln Hill Project Team
4/7/2015Rye Patch Completes Land Purchase at Lincoln Hill
4/2/2015Rye Patch Adds to Oreana Land Position
3/18/2015Rye Patch Drilling Targets World Class Cortez Gold Trend
3/3/2015Rye Patch Gold Buys Strategic Private Surface and Mineral Es...
3/2/2015Rye Patch Gold Appoints Tony Wood as Chief Financial Officer
2/10/2015Rye Patch Gold 2015 - Funded and Active
11/25/2014Rye Patch Updates Investors On Receipt Of Cash From Royalty
11/24/2014Rye Patch Drills High-Grade Structural Zones At Lincoln Hill
10/15/2014Rye Patch Drills High-Grade Gold At Wilco
10/6/2014Rye Patch Clarifies MD&A and Technical Disclosure
9/17/2014Rye Patch Appoints Buffington to Board of Directors
9/15/2014Rye Patch Drills 1.24 g/t AuEq Over 19.8m at Its Gold Ridge ...
9/8/2014Rye Patch Appoints VP Corporate Development
8/21/2014Rye Patch Gold Announces Stock Options Extensions
7/23/2014Rye Patch Gold Grants Stock Options
7/3/2014Rye Patch Announces Filing of Technical Report for Lincoln H...
5/28/2014Rye Patch Reports Drilling Starts at Lincoln Hill
5/21/2014Rye Patch Announces Lincoln Hill Preliminary Economic Assess...
5/9/2014Rye Patch Gold Appoints New Chairman
12/11/2013(Lincoln Hill)Receives Positive Metallurgical Results From Lincoln Hill
7/12/2013Grants Stock Options
6/25/2013And Coeur Reach Settlement On LH Claim Legal Dispute
6/3/2013Reports Expansion Of Goldridge Gold/Silver Zone
11/6/2012Rye Patch Updates Rochester Project Resources Based on Coeur...
11/6/2012s Rochester Project Resources Based on Coeur d'Alene's Recen...
10/26/2012Receives New Trial Date From Sixth District Court
10/16/2012Rye Patch Receives Court Order Granting Coeur's Motion to Po...
10/16/2012Receives Court Order Granting Coeur's Motion to Postpone
10/1/2012s Gold Exploration Along the Cortez Trend
8/16/2012Rye Patch Gold Announces Amended Non-Brokered Private Placem...
8/15/2012Rye Patch Updates Status of Lawsuit Against Coeur Rochester,...
8/6/2012Rye Patch Stakes More Mineral Claims at Rochester and Packar...
5/30/2012Mid-Day Breaking News From Gold Canyon and Rye Patch
5/29/2012Drills Significant Gold And Silver Zones On The LH Claims
3/12/2012Files Motion for Restraining Order Against Coeur d'Alene Min...
2/15/2012Rye Patch Gold Achieves #6 Ranking on the 2012 TSX Venture 5...
1/16/2012Added To S&P/Tsx-V Index
1/10/2012Bill Howald discusses the latest Rochester Press Release wit...
1/5/2012Cuts Lower Plate Carbonates, Carlin-Style Alteration, and El...
12/21/2011Granted Access To The LH Claims
12/17/2011s Court Proceedings
9/8/2011Barrick's New Multi-Million Ounce Discovery at Cortez (Nevad...
8/25/2011Jay Taylor writes up Rye Patch Gold Corp.
2/17/2011Announces 2011 Programs and Budgets for Nevada Portfolio
7/28/2010Leases Wilco Geothermal Rights
6/23/2010Ubika Research Initiates Coverage on Rye Patch Gold Corp.
2/26/2010has been added to GoldMinerPulse.com
2/10/2010Executes Definitive Agreement with Centerra Gold (U.S.) Inc....
10/21/2009Coverage in the Gold Newsletter
11/28/2008Announces Release Of Previously Escrowed Securities
11/4/2008TSX Venture Exchange Advances Rye Patch Gold To Tier 1 Statu...
9/24/2008Drills 25 Feet Grading 2.2 Ounces/Ton Au at Lincoln Hill
9/17/2008Drills 45.7 Metres Grading 1.34 G/T Au At Wilco
8/19/2008Reports Lincoln Hill - Gold Ridge Drilling Complete
7/29/2008Reports On The Wilco Drill Program
7/10/2008Begins Drilling On Lincoln Hill And Gold Ridge
5/29/2008Confirms Ridge Gold/Silver Anomaly On Lincoln Hill
5/28/2008to be featured on CEO Clips airing on BNN
4/30/2008Increases Wilco Gold Resource
4/3/2008 Retains Renmark Financial Communications
2/28/2008Releases Project Programs And Budgets For 2008
2/6/2008Options Cortez Trend Gold Play From Barrick
11/19/2007Acquires Rights to Lincoln Hill Property, Nevada and Consoli...
10/17/2007Expands Section Line Discovery on Wilco Project
10/3/2007Completes Acquisition Of The Jessup Project, Nevada From Mid...
9/25/2007Drills 21 Metres of 2.74 g/t Gold New Gold Zone on Wilco Pro...
9/6/2007Doubles Wilco Gold Resource
8/21/2007Acquiring The Jessup Project, Nevada From Midway Gold Corp.
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