 |
NEWS RELEASE
No. 10-11 |
Rye Patch Gold Drills 44.5 G/T Au and 36.3 G/T Ag over 1.5 Metres at Wilco
News Release No. 10 - 11
Vancouver, British Columbia, June 7, 2010 - Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) ("Rye Patch" or the "Company") reports drillhole assays for its spring drilling campaign on the Wilco project in Pershing County, Nevada. Using a 0.343 g/t (0.01 opt) gold cut-off grade, the following Table summarizes drill intercepts for the first six reverse circulation drillholes.
| TABLE1: WILCO PROJECT: 2010 REVERSE CIRCULATION DRILL PROGRAM (WR-095 to WR-100) |
| Drillhole |
Target
Area |
Au
g/tonne |
Ag
g/tonne |
Drillhole interval
metres |
From
metres |
To
metres |
TD
(metres) |
| WR-095 |
North Area |
0.43 |
3.6 |
16.8 |
67.1 |
83.8 |
373.4 |
| WR-095 |
North Basin |
0.35 |
2.3 |
3.0 |
88.4 |
91.4 |
| WR-095 |
North Basin |
0.36 |
3.9 |
3.0 |
93.0 |
96.0 |
| WR-095 |
North Basin |
0.39 |
4.5 |
3.0 |
112.8 |
115.8 |
| WR-095 |
North Basin |
3.24 |
4.0 |
6.1 |
118.9 |
125.0 |
|
Including |
6.31 |
5.3 |
3.0 |
120.4 |
123.4 |
| WR-095 |
North Basin |
2.08 |
12.7 |
15.2 |
301.8 |
317.0 |
|
Including |
3.54 |
39.8 |
1.5 |
303.3 |
304.8 |
|
Including |
5.90 |
25.7 |
3.1 |
312.4 |
315.5 |
| WR-096 |
North Basin |
0.44 |
2.8 |
9.1 |
80.8 |
89.9 |
381.0 |
| WR-096 |
North Basin |
0.43 |
2.5 |
12.2 |
93.0 |
105.2 |
| WR-096 |
North Basin |
0.44 |
2.1 |
4.6 |
109.7 |
114.3 |
| WR-096 |
North Basin |
0.47 |
5.1 |
3.0 |
349.0 |
352.0 |
| WR-097 |
North Basin |
0.41 |
2.7 |
16.8 |
70.1 |
86.9 |
390.1 |
| WR-097 |
North Basin |
0.47 |
2.5 |
13.7 |
100.6 |
114.3 |
| WR-098 |
North Basin |
0.36 |
2.9 |
3.0 |
239.3 |
242.3 |
379.0 |
| WR-098 |
North Basin |
3.24 |
3.2 |
3.0 |
315.5 |
318.5 |
|
Including |
6.33 |
4.9 |
1.5 |
315.5 |
317.0 |
| WR-098 |
North Basin |
1.24 |
6.5 |
30.5 |
332.2 |
362.7 |
|
Including |
3.34 |
4.9 |
1.5 |
335.3 |
336.8 |
| WR-099 |
North Basin |
0.43 |
7.8 |
12.2 |
123.4 |
135.6 |
385.6 |
| WR-099 |
North Basin |
0.48 |
5.4 |
4.6 |
303.3 |
307.8 |
| WR-099 |
North Basin |
11.67 |
12.0 |
6.1 |
310.9 |
317.0 |
|
Including |
44.53 |
36.3 |
1.5 |
312.4 |
313.9 |
| WR-099 |
North Basin |
2.68 |
36.8 |
3.0 |
356.6 |
359.7 |
| WR-099 |
North Basin |
1.17 |
5.0 |
6.1 |
373.4 |
379.5 |
| WR-100 |
North Basin |
0.40 |
3.8 |
3.0 |
123.4 |
126.5 |
396.2 |
| WR-100 |
North Basin |
1.39 |
2.1 |
3.0 |
382.5 |
385.6 |
"These drill results demonstrate an expansion of the high-grade zone in the North Basin target. Given our existing extensive Nevada resource inventory; the expansion potential of the Oreana trend and the Company's unique networking capability, Rye Patch has a clear path to meet its corporate resource inventory objectives", commented William C. (Bill) Howald, the Company's CEO and President.
Drillholes WR-081, and WR-087, drilled in 2008, along with drillholes WR-094, drilled in 2009, and WR-095 and WR-099 have all intercepted higher grade gold values (see previous news releases of the Company dated November 25, 2008 and February 23, 2010). Using a 5 g/t gold cutoff grade and a minimum drill intercept of 3 meters, gold values range from 5.9 g/t Au in WR-095 to 11.82 g/t Au in WR-087 over 3 to 6 metre intervals. To date, the drilling has defined a rectangular mineralized area measuring 100 metres by 200 metres that is open along a west-southwest oriented trend paralleling the northern limb of the Section Line anticline at the geologic contact between an upper siltstone unit and a lower claystone lithology. The contact zone is a regional feature which has exploration implications for the Oreana trend.
The high-grade zone is open to the west-southwest. The identified high-grade zone could be the feeder structure for the Section Line deposit. Continued drilling and offsetting of the high-grade zone will be required to verify this idea.
The present drill program is anticipated to continue until late June. A total of eleven reverse circulation drillholes is anticipated to be completed in the spring program. Assay results for drillholes WR-101 to WR-103 are pending, WR-104 is in progress, and WR-105 is planned. The drilling contractor, Boart-Longyear, has been apprised that a second pass program is envisioned for late summer.
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 equivalent in the measured and indicated category plus 2,727,100 ounces of gold equivalent in the inferred category. The following table summarizes Rye Patch Gold's precious metal inventory in Nevada, USA.
| Rye Patch Gold's NI43-101 Resource Inventory (1) |
| Property |
Resource
Category |
Tonnes (X 1,000) |
Gold Grade (g/t) |
Silver Grade (g/t) |
Contained Gold Ounces |
Contained Silver Ounces |
Contained Au & Au 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 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. |
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 ICP-MS with silver over limits determined using aqua-regia digestion with an ICP-AES or AAS finish.
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 well-funded, 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 and Gold Ridge projects located along 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
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 |