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NEWS RELEASE
No. 09 - 20 |
Rye Patch Drills 15.2 G/T Gold And 308 G/T Silver Over 3 Metres At Lincoln Hill
Vancouver, British Columbia, November 13, 2009 - Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) ("Rye Patch" or the "Company") reports initial drill assay results from the Lincoln Hill reverse circulation drill program. Assays have now been returned for the first 5 of the 20 hole reverse circulation totaling 2,562 metres (8,405 feet). The core program is in progress. Table 1 summarizes significant results from the first five drillholes -- LR-026 to LR-030 -- using a 0.34 g/t (0.01 opt) gold cutoff for intervals greater than 3 metres (10 feet).
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TABLE 1: LINCOLN HILL PROJECT: INITIAL 2009 REVERSE CIRCULATION DRILL PROGRAM |
|
Drillhole |
Target |
Au |
Ag |
Drillhole interval |
From |
To |
Total Depth |
|
Name |
Area |
g/t |
g/t |
Metres |
Metres |
Metres |
Metres |
|
LR-026 |
Raven Mine (included) |
0.72 |
44.6 |
27.4 |
18.3 |
45.7 |
91.5 |
|
Including |
2.23 |
51.4 |
6.1 |
22.9 |
29.0 |
|
Including |
0.17 |
428.6 |
1.5 |
33.5 |
35.1 |
|
LR-027 |
Raven Mine |
0.41 |
24.0 |
4.6 |
21.3 |
25.9 |
91.5 |
|
Including |
0.96 |
51.4 |
1.5 |
22.9 |
24.4 |
|
LR-027 |
Raven mine |
0.51 |
126.9 |
3.0 |
61.0 |
64.0 |
|
LR-028 |
Lincoln Hill |
0.38 |
4.0 |
3.0 |
4.6 |
7.6 |
182.9 |
|
LR-028 |
Lincoln Hill |
0.58 |
15.3 |
22.9 |
13.7 |
36.6 |
|
LR-028 |
Lincoln Hill |
0.38 |
18.0 |
4.6 |
42.7 |
47.2 |
|
LR-028 |
Lincoln Hill |
0.51 |
3.2 |
9.1 |
117.3 |
126.5 |
|
LR-029 |
Lincoln Hill |
0.79 |
11.8 |
7.6 |
97.5 |
105.2 |
137.2 |
|
LR-030 |
Lincoln Hill |
5.69 |
113.2 |
9.1 |
47.2 |
56.4 |
173.8 |
|
Including |
15.26 |
308.6 |
3.0 |
47.2 |
50.3 |
|
LR-030 |
Lincoln Hill |
0.34 |
6.9 |
7.6 |
99.1 |
106.7 |
|
LR-030 |
Lincoln Hill |
0.34 |
17.1 |
13.7 |
125.0 |
138.7 |
The initial reverse circulation drilling results have expanded the at-surface stockwork alteration zone 500 metres (1,500 feet) southward into the Raven target area. Drillholes LR-026 and LR-027 show the halo mineralization is concentrated at the intersection of northwest oriented lamprophyre dike and northeast trending fractured zone. Additional drilling is warranted to connect this mineralized area with the main Lincoln Hill gold and silver mineralization.
Drillholes LR-028 to LR-030 were drilled within the main Lincoln Hill zone and expand the zone to the north and northwest on to private lands controlled by the Company. The mineralized zones are associated with an at-surface stockwork gold and silver zone and intersected zones of high grade. LR-030 shows additional high-grade gold and silver zones exist within the broader halo mineralization.
Using a gold equivalent grade of 0.34 g/t Aueq, the halo mineralization ranges between 10 metres and 49 metres in thickness and has gold and gold equivalent grades ranging between 0.5 g/t Aueq to 1.65 g/t Aueq in these five drillholes. The stockwork zone has been observed in surface outcrop and in drillholes over an area of 2,000 metres by 300 metres. Assays for the remaining 15 reverse circulation drillholes within the surface zone are pending at this time.
"Initial assay results from the Lincoln Hill reverse circulation drill program are expanding the near surface stockwork gold and silver mineralization, and continue to show high-grade gold and silver zones within this halo mineralization. At present, we have a core drill on site to follow up on the high-grade zones. The core will allow us to better understand the high-grade controls on mineralization," commented William C. (Bill) Howald, the Company's CEO and President.
With the previously announced NI43-101 resource estimates for the Wilco project and the Jessup project, Rye Patch Gold's resource inventory currently has 1,164,000 ounces of gold and gold equivalent in the measured and indicated category plus 2,177,315 ounces of gold and gold equivalent in the inferred category.
A first ever NI43-101 resource estimate will be completed on the Lincoln Hill project once all assays have been received and interpolated from this year's drilling. The Company believes that Lincoln Hill will become our third gold resource and will add to Rye Patch's inventory of gold in Nevada.
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.
Rye Patch Gold Corp. 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 project located within the emerging Oreana gold trend in west-central Nevada and the Jessup project in Churchill County, 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 Howald'
William C. (Bill) Howald, CEO & President
For additional information contact:
Rye Patch Gold Corp
Karen Robb, Manager, Investor Relations
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589
www.ryepatchgold.com
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 |