No. 08 - 04
Rye Patch Discusses Progress At The Lincoln Hill/Gold Ridge Project
Vancouver, British Columbia, March 12, 2008 - Rye Patch Gold Corp (TSX-V: RPM and RPM.WT) ("Rye Patch" or the "Company") is excited by the results of compilation work on the recently acquired, 100% controlled Lincoln Hill and 100% owned Gold Ridge property. The project covers a total of 3,276 acres, and securely positions the Company along Midway Gold's Spring Valley gold trend.
The Company has completed an evaluation and interpretation of past exploration work at the Lincoln Hill/Gold Ridge property, located within the Rochester mining district within 4 miles west of the Rochester silver and gold mine and roughly 3 miles southwest of Midway Gold's Spring Valley discovery. The project is underlain by the prospective volcanic and sedimentary rocks of the Koipato Group which hosts the majority of the gold and silver mineralization in the district. The Rochester mining district has produced a total of 4.5 million oz. of gold and 130 million oz. of silver.
The majority of the previous exploration work at Lincoln Hill was conducted by Newmont Mining Corp. (2001-2003) and Coeur Rochester Inc (1988-1990). Rye Patch Gold's evaluation of this work includes re-logging of Newmont drillholes, construction of drillhole cross-sections and interpretation of previous surface and underground sampling programs. Based on this analysis, the project contains potential for a bulk-tonnage gold deposit similar to the Rochester Silver Mine and the Spring Valley discovery. The significant gold/silver targets are summarized below.
At the Lincoln Hill Mine Area, Newmont's underground channel sampling at the Lincoln Hill Mine indicates the presence of bulk-tonnage gold and silver mineralization immediately adjacent to the historically mined high-grade stops. Table 1 summarizes the bulk-tonnage gold and silver rock-chip channel sample intervals.
Similar to the Spring Valley discovery, the gold-silver mineralization at the Lincoln Hill mine is associated with quartz and quartz-tourmaline veins, altered intrusives and local silicification of the wall rocks. The Lincoln Hill Mine mineralization appears to be controlled by the intersection of northeast-trending faults and a low-angle, northwest-trending dike swarm. The above geologic features are key components for a bulk-tonnage, gold and silver mineral deposit in the district.
The second bulk-tonnage gold and silver target is the Ridge Gold Anomaly. Detailed grid and outcrop rock sampling along the ridge located north of the Lincoln Hill mine indicates an east-west trending gold anomaly nested within a larger silver anomaly. The gold anomaly, ranging from 0.1 g/t Au to 5.7 g/t Au, extends 1,000-metres east-west and is up to 90-metres wide. This anomaly lies north of the Lincoln Hill Mine and appears to represent a major east-west mineralized trend open to the east. In the past the gold anomaly was tested with only three shallow vertical holes collared near the margin of the anomalous area.
The silver anomaly, ranging 2 g/t Ag to 380 g/t Ag, covers an area of 1,000-metres in length and is 35 to 300-metres in width. The anomaly was locally tested with shallow drilling and is open to the north, south and west. Detailed geologic and structural mapping, additional sampling, and drill testing of the gold and silver anomalies are planned.
Additional gold and silver target are located on the 100% owned Gold Ridge property which surrounds and is adjacent to the Lincoln Hill project. A 1.5-kilometre long structural zone has returned surface rock-chip gold anomalies. Additional mapping and sampling are planned as a follow up.
A 2000-metre drill program is planned to commence in summer at the project with results expected in the fall. The cost of the planned exploration program is $400,000.
The Company also reports that it has ended its business relationship with The Buick Group, an investor relations consultant.
Dr. Radu Conelea, AIPG Certified Professional Geologist #06871, the Company's Chief Geologist, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and has reviewed the technical disclosure in this press release.
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. 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
For additional information contact:
Ms. Karen Robb, Manager Investor Relations
firstname.lastname@example.org Phone: 604-638-1588 Fax: 604-638-1589
The TSX Venture Exchange does not accept 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