Rye Patch Gold Corp.

Published : November 24th, 2014

Rye Patch Drills High-Grade Structural Zones At Lincoln Hill

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Rye Patch Drills High-Grade Structural Zones At Lincoln Hill

Rye Patch Drills High-Grade Structural Zones At Lincoln Hill

Vancouver, British Columbia, November 24, 2014 - Rye Patch Gold Corp (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the "Company" or "Rye Patch") is pleased to announce the results of its 2014 drilling campaign on the 100% controlled Lincoln Hill project located in Pershing County, Nevada along the Oreana trend in west-central Nevada. 

HIGHLIGHTS:

  • Drillhole LR-112 returned 4.18 g/t Au and 20.6 g/t Ag over 13.7 metres including high-grade gold and silver grading 34.35 g/t Au and 143 g/t Ag over 1.5 metres from the Looney mine target on Independence Hill;
  • Drilling returned 0.62 g/t Au and 9.7 g/t Ag over 22.9 metres including 3 metres grading 3.16 g/t Au and 10.7g/t Ag from the Octopus target on Independence Hill; and
  • The Looney and Octopus targets remain open down dip and to the northwest and northeast respectively.

Rye Patch Gold US Inc. ("Rye Patch US") completed 28 reverse circulation drillings totaling 3,188 metres (10,460 feet) in two targets - Roosevelt and Independence Hill.  On Independence Hill four zones were identified and tested, and the drilling campaign returned positive results from three of the four zones including the recognition of a high-grade gold and silver at the Looney and Octopus areas.  Anomalous gold and silver assays were returned from the Buck & Charlie zone although the drill intercepted old mine workings where the projection of the high-grade gold zone was predicted.  No significant gold results were returned from the Hilltop zone; however, several zones with silver were reported.

"These results give us solid encouragement that Lincoln Hill has substantial room to grow in size and quality and add to the already robust PEA completed May 2014.  We look forward with continued excitement to a larger in-fill and exploration drilling program in 2015, to commence as soon as permitting is complete.   I am very pleased with the on-going success rate of our exploration drilling, and its ability to identify high grade zones such as at Looney and Octopus", stated Mr. William C. (Bill) Howald, President and CEO of the Company.

The Looney Mine consists of quartz veins associated to altered lamprophyre dykes. The drilling intercepted two parallel mineral zones.  The first zone was intercepted at less than 50 metres depth while the second zone was cut at 130-140 metres down the drillhole. Drillholes LR-112 and LR-113 were not deep enough to intercept the second zone, and LR-114 and 115 hit historic mine workings ranging between 1.5 to 3 metres (5 to 10 feet) in width; however, LR-114 and LR-115 did intercept the second parallel mineral zone. 

In LR-115, the drill intercepted 6.47 g/t Au and 3.0 g/t Ag over 1.5 metres, and LR-114 cut 33.7 g/t Ag over 1.5 metres. The Looney mine shows the presence of coarse gold in several drillholes. The most remarkable is LR-116 where the standard fire assay returned 1.2 g/t Au while the metallic screen yielded 5.67 g/t Au at the interval 74.7 to 76.2. This comparison suggests coarse gold is present along the Looney structure.  The Looney zone remains open to northwest and down dip.

At the Octopus zone, drilling revealed a thick mineralized package averaging 0.62 g/t Au and 9.7 g/t Ag over 22.9 metres including 3.16 g/t Au and 10.2 g/t Ag over 3 metres. A second intercept returned 0.18 g/t Au and 39.1 g/t Ag over 7.6 metres including 149 g/t Ag over 1.5 metres. In addition, LR-108, a zone of anomalous zinc with values as high as 2.5% was intercepted at 62.5-64 metres.  The significance of the zinc mineralization is under review.  The gold zone remains open to northeast and down dip. 

LR-101 through LR-106 are located along the Buck & Charlie zone on Independence Hill. LR-101 intercepted two large historic mine workings ranging from 3 metres wide to 10 metres wide.  Difficult ground conditions caused the drillhole to be lost. The remaining drillholes tested the southwest extension and intercepted low grade or no significant assay results; however, the northwest extension remains untested and open.

The Hilltop Mine drilling returned several anomalous silver values ranging from 3 to 10 g/t Ag in narrow zones. Overall, there were no significant gold assays from the Hilltop zone or the Roosevelt target.

Table 1 summarizes the Lincoln Hill 2014 drill program.


Table 1: Lincoln Hill Project - 2014 Drilling Results (cut off 0.2 g/t AuEq)
Drillhole Remarks Au Ag AuEq(1) Drillhole interval (2) From To Total Depth
g/t g/t g/t (metres) (metres) (metres) (metres)
LR-101 Buck & Charlie Mine 0.06 10.0 0.26 7.6 73.2 80.8 106.7
LR-101 Buck & Charlie Mine Historic Mine Workings 97.5 103.6
LR-101 Buck & Charlie Mine Historic Mine Workings 105.2 112.8
LR-102 Buck & Charlie Mine 0.02 11.3 0.25 3.0 74.7 77.7 91.4
LR-103 Buck & Charlie Mine NSA 76.2
LR-104 Buck & Charlie Mine NSA 100.6
LR-105 Buck & Charlie Mine 0.05 13.8 0.33 12.2 25.9 38.1 121.9
LR-106 Buck & Charlie Mine 0.11 4.2 0.19 3.0 27.4 30.5 117.3
LR-106 Buck & Charlie Mine 0.13 13.0 0.39 3.0 38.1 41.1
LR-106 Buck & Charlie Mine 0.16 4.0 0.24 4.6 61.0 65.5
LR-106 Buck & Charlie Mine 0.10 11.1 0.32 3.0 79.2 82.3
LR-107 Octopus Mine 0.18 39.1 0.96 7.6 41.1 48.8 106.7
Including 0.69 149.0 3.67 1.5 42.7 44.2
LR-108 Octopus Mine 0.62 9.7 0.81 22.9 45.7 68.6 91.4
Including 3.16 10.2 3.36 3.0 61.0 64.0
LR-109 Roosevelt zone NSA 91.4
LR-110 Roosevelt zone NSA 61.0
LR-111 Roosevelt zone NSA 61.0
LR-112 Looney Mine 4.18 20.6 4.59 13.7 36.6 50.3 134.1
Including 34.35 143.0 37.21 1.5 36.6 38.1
LR-113 Looney Mine NSA 105.2
LR-114 Looney Mine Historic Mine Workings 47.2 50.3 141.7
LR-114 Looney Mine - 33.7 0.67 1.5 132.6 134.1
LR-115 Looney Mine Historic Mine Workings 47.2 48.8 149.4
LR-115 Looney Mine 0.84 2.9 0.90 1.5 45.7 47.2
LR-115 Looney Mine 0.15 4.5 0.24 4.6 109.7 114.3
LR-115 Looney Mine 6.47 3.0 6.53 1.5 146.3 147.8
LR-116 Looney Mine 0.33 4.4 0.42 9.1 74.7 83.8 160.0
Including 1.22 11.7 1.45 1.5 74.7 76.2
LR-117 Looney Mine NSA 115.8
LR-118 Hill Top Mine NSA 106.7
LR-119 Hill Top Mine NSA 106.7
LR-120 Hill Top Mine NSA 106.7
LR-121 Hill Top Mine NSA 137.2
LR-122 Looney Mine NSA 152.4
LR-123 Looney Mine NSA 137.2
LR-124 Looney Mine 0.38 166 3.70 1.5 38.1 39.6 106.7
LR-125 Looney Mine 1.28 62.5 2.53 1.5 36.6 38.1 137.2
LR-126 Looney Mine 1.16 5.5 1.27 1.5 57.9 59.4 106.7
LR-127 Looney Mine 1.52 42.7 2.37 1.5 56.4 57.9 106.7
LR-127 Looney Mine - 70.0 1.40 7.6 77.7 85.3
LR-128 Looney Mine NSA 152.4
(1) AuEq is gold equivalent calculated using Ag:Au of 50:1
(2) Drillhole interval is not true thickness
NSA = No Significant Results

Rye Patch US maintains a strict quality control program at all of its projects. All reverse circulation drill samples are submitted to American Assay with prep-blanks, assay blanks, and gold and silver standards.  Rye Patch US inserts approximately one quality control or quality assurance samples for every ten samples submitted to the assay laboratory.  The reverse circulation character samples are logged and photographed on site. American Assay collects the samples and transports them to their 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 ICP finish.  Gold values above 10 g/t gold (over limits) are confirmed using fire assay with a gravimetric finish.  Silver is analyzed using a two-acid digestion and an ICP finish.  Silver values are re-analyzed with a four-acid digestion and ICP finish on all samples with gold values greater than a 0.2 g/t gold assay result.  Silver values over 100 g/t silver are re-analyzed using volumetric dissolution.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold's CEO and President, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Tier 1, well-funded junior mining company with significant gold and silver resources, a robust preliminary economic assessment, and tremendous exploration upside all located amongst some of the largest gold and silver producers in the mining friendly state of Nevada, USA. The Company's seasoned management team is engaged in the acquisition, exploration, and development of quality resource-based gold and silver projects along the Oreana trend, and trend-scale opportunities in Cortez district adjacent to new gold discoveries.  The Company is aggressively developing gold and silver resources and exploration projects along these prolific trends, utilizing existing funds and cash flow from its NSR royalty.   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 the Company, 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:
Karen Davies     
Manager, Investor Relations

Rye Patch Gold Corp
[email protected]
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 financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources (and, in respect of the Coeur Rochester mine 3.4% NSR, the reliability of calculation of Coeur's mineral resources and reserves); the reliability of calculation of precious metal recoveries; the 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.

Read the rest of the article at www.noodls.com

Rye Patch Gold Corp.

EXPLORATION STAGE
CODE : RPM.V
ISIN : CA7837271005
CUSIP : 783727 10 0
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Rye Patch Gold is a gold exploration company based in Canada.

Rye Patch Gold holds various exploration projects in USA.

Its main exploration properties are LINCOLN HILL, JESSUP, WILCO, GARDEN GATE PASS and GOLD RIDGE NEVADA in USA.

Rye Patch Gold is listed in Canada. Its market capitalisation is CA$ 410.5 millions as of today (US$ 318.7 millions, € 273.4 millions).

Its stock quote reached its lowest recent point on February 20, 2009 at CA$ 0.10, and its highest recent level on January 19, 2018 at CA$ 1.66.

Rye Patch Gold has 387 300 000 shares outstanding.

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Financings of Rye Patch Gold Corp.
12/24/2009Closes First Tranche Of Private Placement
12/15/2009Announces Private Placement
12/15/2008Announces Private Placement
5/16/2008Rye Patch Announces Follow-Up Private Placement
5/16/2008Rye Patch Closes $1.25 Million Private Placement
Option Grants of Rye Patch Gold Corp.
6/11/2008Grants Stock Options
Nominations of Rye Patch Gold Corp.
10/22/2007Hires Manager Of Investor Relations
Project news of Rye Patch Gold Corp.
2/14/2014Discusses Exploration Programs And Budget For 2014
12/31/2013Coeur Rochester Mine Royalty Starts At Midnight
8/6/2013Quantifies 3.4% NSR Coeur Rochester Mine Royalty
5/9/2013(Lincoln Hill)Reports Lincoln Hill Exploration Update
5/8/2013Reports LH Claims Exploration Results
2/21/2013Expands Mystic And South Packard Pediment Silver-Gold Zones ...
10/1/2012Rye Patch Updates Gold Exploration Along the Cortez Trend
9/17/2012Rye Patch Announces Updated Gold and Silver Resources Within...
9/17/2012Rye Patch Announces Updated Gold and Silver Resources Within...
9/17/2012(Lincoln Hill)Announces Updated Gold and Silver Resources Within an Open P...
7/10/2012Rye Patch Intersects More Gold and Silver on the LH Claims
6/29/2012Rye Patch Leases Additional Land on the Rochester Project
6/27/2012Rye Patch Announces 1=2E28 Million ozs ofGold in the Measure...
5/30/2012(Garden Gate Pass)Starts Drilling at Garden Gate Pass
2/22/2012s Exploration Progress on Rochester Project
2/21/2012(Garden Gate Pass)Garden Gate Pass Project on Major Discovery Trend
2/1/2012(Gold Ridge Nevada)Reports Gold And Silver Assays From Gold Ridge
1/24/2012Stakes More Claims And Starts Drilling At Rochester
1/9/2012Makes New Gold and Silver Discoveries on the Rochester Prope...
1/6/2012(Garden Gate Pass)Bill Howald interviewed by Smallcappower.com regarding the r...
12/8/2011(Lincoln Hill)Announces Results of 2011 Lincoln Hill Drill Program
12/5/2011Expands Oreana Trend Holdings Stakes Mining Claims On Existi...
10/3/2011(Lincoln Hill)Finds New High-Grade Gold And Silver Zones At Lincoln Hill
9/13/2011(Garden Gate Pass)is Drilling at Garden Gate Pass Project
8/9/2011(Garden Gate Pass)is Ready to Drill Garden Gate Pass Project
7/27/2011(Wilco)Reports Metallurgical Results From Wilco
6/2/2011(Wilco)Drills Thick Gold Zone at Wilco
5/25/2011(Lincoln Hill)Starts Drilling on Jefferson Zone at Lincoln Hill
5/16/2011Resource Clips: Rye Patch Works Toward Eight Million Nevada ...
5/9/2011(Wilco)Extends North Basin High-Grade Zone At Wilco
4/20/2011(Jessup)Adds Jessup to 2011 Program and Budget
3/3/2011(Wilco)Drills More High-Grade Gold at Wilco
2/17/2011(Wilco)Announces 2011 Programs and Budgets for Nevada Portfolio
2/17/2011(Jessup)Announces 2011 Programs and Budgets for Nevada Portfolio
2/17/2011(Gold Ridge Nevada)Announces 2011 Programs and Budgets for Nevada Portfolio
2/8/2011(Lincoln Hill)Drills Thick Zones of Gold and Silver at Gold Ridge
1/25/2011(Wilco)Continues Drilling Success at Wilco
1/12/2011(Lincoln Hill)Drills New Gold and Silver Zone on Lincoln Hill
8/11/2010(Lincoln Hill)Identifies New Gold Target Along The Oreana Trend
6/30/2010(Lincoln Hill)Files Technical Report on Lincoln Hill Resource
6/7/2010(Wilco)Drills 44.5 G/T Au and 36.3 G/T Ag over 1.5 Metres at Wilco
12/10/2009(Lincoln Hill)Drills 21.19 g/t Gold Over 7.0 Metres At Lincoln Hill
11/13/2009(Lincoln Hill)Drills 15.2 G/T Gold And 308 G/T Silver Over 3 Metres At Lin...
6/11/2009(Lincoln Hill)Plans Program for High-Grade Gold at Lincoln Hill Project
6/2/2009(Jessup)Jessup Gold and Silver Resource Estimate
11/25/2008(Wilco)Drills 38.1 Metres Grading 2.61 G/T Au In New Target At Wilc...
11/12/2008(Jessup)Drills 7.6 Metres Grading 9.19 G/T Au At Jessup
6/17/2008(Wilco)Begins 2008 Drilling on Wilco Project to Expand Known Gold R...
5/12/2008(Wilco)Outlines Oxide Characteristics Of Wilco Resource
3/27/2008(Jessup)Extends Gold Mineralization At The Jessup Resource Project
3/12/2008(Lincoln Hill)Discusses Progress At The Lincoln Hill/Gold Ridge Project
1/9/2008(Wilco)Drills 176 Feet Of 0.030 Opt Gold At Wilco Discovery
Corporate news of Rye Patch Gold Corp.
7/29/2016Rye Patch Announces Acquisition of the Florida Canyon Gold M...
7/9/2016Rye Patch Announces Filing of NI 43-101 Technical Report on ...
6/16/2016Rye Patch Announces Completion of Cdn$49.1 Million Private P...
6/2/2016Rye Patch Announces Cdn$40 Million Private Placement of Subs...
5/25/2016Rye Patch Signs Agreement to Acquire Florida Canyon Gold Min...
1/14/2016Rye Patch Stakes claims along Gold Ridge-Florida Canyon tren...
12/18/2015Rye Patch Amends Patty Agreement with Barrick and Provides U...
12/15/2015Caesars Report's Thibaut Lepouttre Interviewed by The Gold R...
10/29/2015Rye Patch receives $1,462,300 quarterly royalty payment
10/28/2015Rye Patch Begins Drilling Within the Lincoln Hill Resource C...
10/19/2015U.S. Global Investors' Frank Holmes and Ralph Aldis Intervie...
9/15/2015Rye Patch Completes Metallurgical Drill Program at Lincoln H...
8/28/2015Rye Patch Gold Grants Stock Options
8/11/2015Rye Patch Arbitrates Q1 2014 Royalty Payment with Coeur
7/16/2015Rye Patch receives $1,490,000 quarterly royalty payment
7/9/2015Rye Patch Purchased and Cancelled 923,500 Common Shares in Q...
4/16/2015Rye Patch Receives $1,850,000 Quarterly Royalty Payment
4/9/2015Rye Patch Completes Land Purchase at Lincoln Hill
4/9/2015Rye Patch Hires Lincoln Hill Project Team
4/7/2015Rye Patch Completes Land Purchase at Lincoln Hill
4/2/2015Rye Patch Adds to Oreana Land Position
3/18/2015Rye Patch Drilling Targets World Class Cortez Gold Trend
3/3/2015Rye Patch Gold Buys Strategic Private Surface and Mineral Es...
3/2/2015Rye Patch Gold Appoints Tony Wood as Chief Financial Officer
2/10/2015Rye Patch Gold 2015 - Funded and Active
11/25/2014Rye Patch Updates Investors On Receipt Of Cash From Royalty
11/24/2014Rye Patch Drills High-Grade Structural Zones At Lincoln Hill
10/15/2014Rye Patch Drills High-Grade Gold At Wilco
10/6/2014Rye Patch Clarifies MD&A and Technical Disclosure
9/17/2014Rye Patch Appoints Buffington to Board of Directors
9/15/2014Rye Patch Drills 1.24 g/t AuEq Over 19.8m at Its Gold Ridge ...
9/8/2014Rye Patch Appoints VP Corporate Development
8/21/2014Rye Patch Gold Announces Stock Options Extensions
7/23/2014Rye Patch Gold Grants Stock Options
7/3/2014Rye Patch Announces Filing of Technical Report for Lincoln H...
5/28/2014Rye Patch Reports Drilling Starts at Lincoln Hill
5/21/2014Rye Patch Announces Lincoln Hill Preliminary Economic Assess...
5/9/2014Rye Patch Gold Appoints New Chairman
12/11/2013(Lincoln Hill)Receives Positive Metallurgical Results From Lincoln Hill
7/12/2013Grants Stock Options
6/25/2013And Coeur Reach Settlement On LH Claim Legal Dispute
6/3/2013Reports Expansion Of Goldridge Gold/Silver Zone
11/6/2012Rye Patch Updates Rochester Project Resources Based on Coeur...
11/6/2012s Rochester Project Resources Based on Coeur d'Alene's Recen...
10/26/2012Receives New Trial Date From Sixth District Court
10/16/2012Rye Patch Receives Court Order Granting Coeur's Motion to Po...
10/16/2012Receives Court Order Granting Coeur's Motion to Postpone
10/1/2012s Gold Exploration Along the Cortez Trend
8/16/2012Rye Patch Gold Announces Amended Non-Brokered Private Placem...
8/15/2012Rye Patch Updates Status of Lawsuit Against Coeur Rochester,...
8/6/2012Rye Patch Stakes More Mineral Claims at Rochester and Packar...
5/30/2012Mid-Day Breaking News From Gold Canyon and Rye Patch
5/29/2012Drills Significant Gold And Silver Zones On The LH Claims
3/12/2012Files Motion for Restraining Order Against Coeur d'Alene Min...
2/15/2012Rye Patch Gold Achieves #6 Ranking on the 2012 TSX Venture 5...
1/16/2012Added To S&P/Tsx-V Index
1/10/2012Bill Howald discusses the latest Rochester Press Release wit...
1/5/2012Cuts Lower Plate Carbonates, Carlin-Style Alteration, and El...
12/21/2011Granted Access To The LH Claims
12/17/2011s Court Proceedings
9/8/2011Barrick's New Multi-Million Ounce Discovery at Cortez (Nevad...
8/25/2011Jay Taylor writes up Rye Patch Gold Corp.
2/17/2011Announces 2011 Programs and Budgets for Nevada Portfolio
7/28/2010Leases Wilco Geothermal Rights
6/23/2010Ubika Research Initiates Coverage on Rye Patch Gold Corp.
2/26/2010has been added to GoldMinerPulse.com
2/10/2010Executes Definitive Agreement with Centerra Gold (U.S.) Inc....
10/21/2009Coverage in the Gold Newsletter
11/28/2008Announces Release Of Previously Escrowed Securities
11/4/2008TSX Venture Exchange Advances Rye Patch Gold To Tier 1 Statu...
9/24/2008Drills 25 Feet Grading 2.2 Ounces/Ton Au at Lincoln Hill
9/17/2008Drills 45.7 Metres Grading 1.34 G/T Au At Wilco
8/19/2008Reports Lincoln Hill - Gold Ridge Drilling Complete
7/29/2008Reports On The Wilco Drill Program
7/10/2008Begins Drilling On Lincoln Hill And Gold Ridge
5/29/2008Confirms Ridge Gold/Silver Anomaly On Lincoln Hill
5/28/2008to be featured on CEO Clips airing on BNN
4/30/2008Increases Wilco Gold Resource
4/3/2008 Retains Renmark Financial Communications
2/28/2008Releases Project Programs And Budgets For 2008
2/6/2008Options Cortez Trend Gold Play From Barrick
11/19/2007Acquires Rights to Lincoln Hill Property, Nevada and Consoli...
10/17/2007Expands Section Line Discovery on Wilco Project
10/3/2007Completes Acquisition Of The Jessup Project, Nevada From Mid...
9/25/2007Drills 21 Metres of 2.74 g/t Gold New Gold Zone on Wilco Pro...
9/6/2007Doubles Wilco Gold Resource
8/21/2007Acquiring The Jessup Project, Nevada From Midway Gold Corp.
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