The company temporarily stopped drilling to do the
engineering work needed for submission.
Rise
Gold Corp. (RISE:CSE; RYES:OTCQB) announced in a news release the conceptual size and grade of an initial
exploration target at its past producing Idaho-Maryland gold project in
Northern California and its next steps for moving toward reopening the mine.
The company successfully drilled 19 holes over 20,584 meters recently. The
work, which took place over the past 20 months, was part of Rise's initial
surface exploration program at the asset.
Drilling encountered numerous high-grade gold intercepts near the existing
mine workings and to depths of more than 1 kilometer below historical mining
areas, thus confirming extensions to previously mined veins and structures.
From both recent and historical data, Rise calculated an initial
exploration target at Idaho-Maryland, an area of mineralization near and accessible
from the existing mine infrastructure "that can be readily drilled from
surface and/or underground to define a mineral resource," the release
noted.
The initial exploration target, not a resource estimate as clarified in a
follow-up news release, ranges from 2,280,000–3,410,000 tons of
mineralized material with gold grades of 0.19–0.30 ounces per ton (or
6.5–10.3 grams per ton) and containing 432,000–1,019,000 ounces of gold.
Rise has temporarily halted surface exploration drilling to focus on
getting the necessary engineering work done to advance Idaho-Maryland. The
next goal is to apply for a use permit from Nevada County to dewater the
underground mine workings, conduct underground exploration drilling and then
commercially mine and process 1,000 tons per day.
[NLINSERT]
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