The major focus of this year's program is preparation of the Ida Oro
project for drilling, as well as grid and ridge and spur soil sampling,
initial regional mapping and airborne geophysical surveys on the Fifty
Mile, Kluane, Nug, and PDM projects. Additional staking is also being
completed to augment the Company's land position in and around key
existing project areas and on new projects.
Exploration began June 13th and the Company currently has 23
field staff members based out of its Dawson exploration office. Ground
Truth Exploration, the Company's staking and soil sampling contractor, has
50 people divided into ten helicopter supported crews. In 2011, Ground
Truth will spend approximately 50% of its time working on the Company's
programs and this percentage is expected to increase to approximately 80%
in 2012, as the Company's field programs expand.
Ida Oro
The Ida Oro project covers 23,976 hectares and is located 90km to the
east of Dawson City (Figure 1: http://file.marketwire.com/release/rygfig1.pdf).
Ida Oro is 35km from the nearest road access and work at Ida Oro is
helicopter supported from Dawson City.
In 2010, the Company completed a grid soil sampling program and
aeromagnetic and radiometric surveys which identified a coincident
magnetic and gold-in-soil anomaly. The gold-in-soil anomaly, >100ppb
Au, covers an area of 4,100m by 1,200m (See Figure 2: http://file.marketwire.com/release/rygfig2.pdf).
Topographically the target is located in rugged terrain covering a major
north-south trending ridge. The size of the gold-in-soil anomaly together
with the rugged nature of the terrain, means that ground truthing, mapping
and, where possible, identification of the structural control on
mineralization is essential prior to commencement of the Diamond drilling
program.
Detailed geological mapping of outcrop within the Ida Oro gold-in-soil
anomaly has been completed. Currently, a trenching programme is underway
in prospective and accessible areas. To date a total of six trenches with
a cumulative length of 191m have been opened with 100 samples collected.
Results are still pending. Drill pads are in the process of being built
for the planned 12,000m drilling program, still on schedule to start in
early August.
Ryan Gold added to its land position within the Ida Oro project area by
staking two additional claims blocks, RS and MLM, totalling 144 claims and
275 claims respectively. The company now holds a total of 3,613 claims
within the Ida Oro project area (Figure 3: http://file.marketwire.com/release/rygfig3.pdf).
Regional Soil Sampling on Other Projects
Both grid and ridge and spur sampling, are progressing well. To date a
total of 19,488 samples have been collected within the first month of
exploration. Of the 19,488 soil samples collected 6,194, 5,849 and
7,445 samples have been collected from the Ida Oro, Fifty Mile and the
Kluane projects respectively.
Initial Exploration of Fifty Mile and Kluane Regional Projects
The Fifty Mile and Kluane projects areas are located approximately 75km
and 350km west and south-south east of Dawson City (See Figure 1).
Historical work on the projects by Shawn Ryan included reconnaissance grid
and ridge and spur soil geochemical sampling programs. The Fifty Mile
project area is helicopter supported from Dawson City while the Kluane
projects are supported out of Burwash and/or Haines Junction, located on
the Trans Alaskan Highway. Regional reconnaissance mapping and limited
trenching has started on both the Fifty Mile and Kluane project areas.
Three trenches totalling 380m and 172 samples have been completed on the
Fifty Mile project. Results are pending.
Airborne Geophysical Program on Other Regional Projects
The airborne magnetic and radiometric survey, totalling approximately
24,500 line kilometres, is due to start in the week of July 18. The survey
has been delayed by several weeks due to inclement weather and abnormal
solar magnetic storms that have been encountered this year. The detailed
airborne magnetic and radiometric geophysical programs on the Company's
regional projects are the first stage of follow-up exploration to ridge
and spur soil sampling previously completed by Shawn Ryan. Targets
identified in these programs are expected to be followed-up by more
detailed soil sampling, reconnaissance mapping and, where possible,
surface sampling and trenching in late 2011 and 2012.
Summary
The field work at Ida Oro has progressed well and the Company remains
on-target to commence an initial drill program in August, with results
expected towards the end of September. Detailed mapping has confirmed the
potential of the Ida Oro soil anomaly to be a very large target. Work on
the Company's other regional projects has progressed as well as can be
expected in the challenging wet weather conditions that have been
experienced in the Yukon this summer. The Company remains on-track to
generate at least three other projects for drilling in the summer of 2012
from this work.
Ryan Gold is fortunate to be able to rely on Ground Truth Exploration's
infrastructure and experience in working efficiently in the Yukon.
The Company continues to endeavour to build its technical teams.
Attracting experienced and knowledgeable geologists capable of managing
our work programs remains a key success factor and a major challenge in
the current labour market. Training of existing technical teams and
recruiting of additional geological staff remain a key focus of Ryan
Gold.
The exploration program is supervised by Ian Gendall (Pr. Sci. Nat.),
Vice President Exploration of Ryan Gold Corp. who is the "qualified
person" within the definition of that term in NI 43-101. Michael Skead
(MAusIMM), and a "qualified person" within the definition of that term in
NI 43-101, has prepared and reviewed the technical information in this
news release.
An updated presentation on the Company and its 2011 exploration program
has been posted at www.ryangold.com.
About Ryan Gold Corp.
Ryan Gold Corp. is an exploration company focussed on gold exploration
primarily in the Yukon Territory, Canada. The Company is well funded and
has a large land package of approximately 2,428km2 comprised of
50 different properties. The company's flagship property is Ida Oro.
During the summer of 2010 a soil sampling programme completed on Ida Oro
revealed a significant, > 100ppb Au, gold-in-soil anomaly over an area
of 4km by 1 km. The company plans to drill the anomaly during the 2011
field season after initially completing detailed mapping. In addition to
Ida Oro the Company plans to embark on an aggressive and systematic
exploration program on its other properties that will include
approximately 24,500 line kilometres of airborne magnetic and radiometric
surveys, collection of 85,000 soil samples and geological mapping of
targets borne out of this campaign. Through this aggressive exploration
program the company objective is to have at least three other projects
drill ready for the 2012 exploration season.
