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NEWS RELEASE
No. 09 - 22 |
Rye Patch Drills 21.19 g/t Gold Over 7.0 Metres At Lincoln Hill
Vancouver, British Columbia, December 10, 2009 - Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) ("Rye Patch" or the "Company") reports assay results from the Lincoln Hill drilling campaign. Gold and silver assays have now been received for the entire reverse circulation drill program and the core campaign totalling 2,508 metres (8,225 feet) and 557 metres (1,826 feet) respectively. Core hole, LRC-002, returned 21.19 g/t gold and over 7.0 metres starting at 25.3 metres. Table 1 summarizes significant results for RC holes LR-031 to LR-045 and core holes LRC-001 to LRC-004 using a 0.34 g/t (0.01 opt) gold cutoff for intervals greater than 3 metres (10 feet).
| TABLE 1: LINCOLN HILL PROJECT: 2009 REVERSE CIRCULATION AND CORE DRILL PROGRAM |
Drillhole
Name |
Type |
Target
Area |
Au
g/t |
Ag
g/t |
Drillhole
interval
Metres |
From
Metres |
To
Metres |
Total
Depth
Metres |
| LR-031 |
RC |
Lincoln Hill |
0.44 |
5.10 |
10.70 |
57.90 |
68.60 |
147.87 |
| LR-032 |
RC |
Lincoln Hill |
0.86 |
6.90 |
7.60 |
3.00 |
10.70 |
152.44 |
| LR-032 |
RC |
Lincoln Hill |
0.51 |
48.00 |
3.00 |
19.80 |
22.90 |
| LR-033 |
RC |
Raven |
No significant gold assay results |
99.10 |
| LR-034 |
RC |
Raven |
No significant gold assay results |
79.27 |
| LR-035 |
RC |
Lincoln Hill |
0.39 |
3.50 |
9.10 |
22.90 |
32.00 |
236.28 |
| LR-035 |
RC |
Lincoln Hill |
1.68 |
2.50 |
25.90 |
36.60 |
62.50 |
| Including |
4.80 |
4.30 |
4.60 |
38.10 |
42.70 |
| Including |
7.42 |
2.00 |
1.50 |
61.00 |
62.50 |
| LR-035 |
RC |
Lincoln Hill |
0.72 |
11.50 |
16.80 |
112.80 |
129.50 |
| Including |
0.44 |
108.00 |
1.50 |
185.90 |
187.50 |
|
| LR-036 |
RC |
Ouro Fino |
No significant gold assay results |
91.46 |
| LR-037 |
RC |
Ouro Fino |
1.15 |
- |
1.50 |
24.40 |
25.90 |
91.46 |
| LR-038 |
RC |
Ouro Fino |
No significant gold assay results |
91.46 |
| LR-039 |
RC |
Ouro Fino |
No significant gold assay results |
99.09 |
| LR-040 |
RC |
Ouro Fino |
0.56 |
- |
3.00 |
42.70 |
45.70 |
91.46 |
| LR-041 |
RC |
Ouro Fino |
No significant gold assay results |
60.98 |
| LR-042 |
RC |
Ouro Fino |
No significant gold assay results |
60.98 |
| LR-043 |
RC |
Lincoln Hill |
No significant gold assay results |
137.20 |
| LR-044 |
RC |
Lincoln Hill |
No significant gold assay results |
190.55 |
| LR-045 |
RC |
Lincoln Hill |
No significant gold assay results |
201.20 |
| LRC-001 |
Core |
Lincoln Hill |
2.47 |
10.30 |
8.80 |
4.00 |
12.80 |
122.26 |
| Including |
5.77 |
14.30 |
3.40 |
8.50 |
11.90 |
| LRC-001 |
Core |
Lincoln Hill |
0.34 |
6.70 |
7.60 |
21.60 |
29.30 |
| LRC-001 |
Core |
Lincoln Hill |
0.48 |
44.60 |
3.00 |
55.20 |
58.20 |
| LRC-002 |
Core |
Lincoln Hill |
9.54 |
6.50 |
15.80 |
18.90 |
34.70 |
207.93 |
| Including |
21.19 |
8.90 |
7.00 |
25.30 |
32.30 |
| LRC-002 |
Core |
Lincoln Hill |
0.45 |
6.40 |
22.25 |
40.24 |
62.50 |
| LRC-002 |
Core |
Lincoln Hill |
0.53 |
32.30 |
7.60 |
76.80 |
84.40 |
| LRC-002 |
Core |
Lincoln Hill |
0.74 |
18.90 |
10.70 |
119.80 |
130.50 |
| LRC-003 |
Core |
Lincoln Hill |
1.07 |
6.00 |
33.10 |
48.20 |
81.20 |
82.62 |
| Including |
6.02 |
15.20 |
4.10 |
48.20 |
52.30 |
| LRC-004 |
Core |
Lincoln Hill |
1.31 |
6.80 |
3.70 |
38.70 |
42.40 |
143.90 |
| LRC-004 |
Core |
Lincoln Hill |
0.51 |
7.60 |
10.70 |
61.60 |
72.20 |
| LRC-004 |
Core |
Lincoln Hill |
0.46 |
0.40 |
5.00 |
115.10 |
120.10 | Gold and silver assay results for drillholes LR-0026 to LR-030 were released on November 13, 2009.
"The Company is very pleased with the results of the Lincoln Hill drill campaign. The surface stockwork zone remains open to the west, east and southward toward the Raven target. As new information is received, the controls on high-grade gold and silver become better understood and more predictable. The new data will be incorporated into our database and used to refine future drill programs and complete a resource estimate in the coming months," commented William C. (Bill) Howald, the Company's CEO and President.
Core and RC drilling show the main Lincoln Hill target contains significant high-grade gold and silver along northeast trending structures within the broader quartz stockwork halo zone. The core shows the broader stockwork mineralization has a high-angle as well as a horizontal or bedding controlled component. LRC-002 intersected veins and veinlets and shows visible gold in several veins over the 15.8 metre zone. The vein arrays are hosted within a thicker zone of altered, silicified rhyolite volcanic rocks. The intersection of the favorable units within altered rhyolite and northeast structures appear to control high-grade gold and silver distribution within the stockwork gold zone. LRC-003 shows the disseminated nature of the stockwork zone with 33.1 metres grading 1.10 g/t gold.
Based on the visible gold encountered in LRC-002, a number of drillholes will be re-submitted to the assay laboratory for metallic screen assay procedures so coarse gold issues can be addressed and resolved. The high-grade zone reported in LRC-002 is believed to be true thickness since the mineralized veins and veinlets are oriented perpendicular to the core axis.
Drilling is showing the quartz stockwork zone has promise for bulk-tonnage gold and silver at Lincoln Hill. Using a gold equivalent grade of 0.34 g/t Aueq, the halo mineralization in the Lincoln Hill target ranges between 10 metres and 79 metres in thickness and has gold and gold equivalent grades ranging between 0.5 g/t Aueq to 2.30 g/t Aueq over an area of 600 metres by 300 metres. Although gold values are below cut-off grades for Table 1, drillholes LR-043 through LR-045 contain significant silver values that add gold equivalent ounces to the Lincoln Hill stockwork zone. Silver values range from 7.8 g/t Ag to 33.4 g/t Ag over 45.7 metres to 12.2 metres using a 5 g/t cut off.
Drilling within the historic high-grade Ourofino mine area returned disappointing results. Previous surface rock-chip samples returned gold values between 2 ppm and 59 ppm gold from a northwest trending dike-hosted structural trend. The mines and prospect pits along the northwest trend produced significant gold according published historic accounts of the district. Additional work is required to understand the geometry of the surface gold and gold within the old mine workings. Selected drill samples will be submitted for metallic screening to ensure assay results are correct.
A first ever NI43-101 resource estimate will be completed on the Lincoln Hill project once all assays have been received and integrated into the drillhole database. The Company believes that Lincoln Hill will become our third gold resource and will add to Rye Patch's inventory of gold in Nevada.
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. The gold equivalent calculation is based on US$750/oz gold and US$16/oz silver.
Rye Patch Gold maintains a strict quality control program at all of its projects. American Assay collects the Lincoln Hill drill samples onsite and transports the samples directly to their 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. Silver values are determined using a four-acid digestion with an AA finish.
Mr. Shea Clark-Smith is overseeing the gold assay and geochemical quality control and assurance programs for Rye Patch Gold's drill programs. He is responsible for creating, administering, and monitoring sample preparation and analytical QA/QC procedures. In sum, the QA/QC procedures will provide several measures of data quality and assure that the data is representative of the original sample.
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
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 |