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NEWS RELEASE
No. 08 - 01 |
Rye Patch Gold Drills 176 Feet Of 0.030 Opt Gold At Wilco Discovery
Vancouver, British Columbia, January 9, 2008 - Rye Patch Gold Corp. (TSX-V: RPM and RPM.WT) ("Rye Patch Gold" or the "Company") announces gold assay results for core holes WRC-001 to WRC-004 from the Company's phase-one core drilling program completed on the Wilco project.
The Company completed 4 core holes totalling 3,002 feet (915 metres) on the Wilco project in Pershing County, Nevada. A proposed fifth core hole was not completed. The drilling focused in the Section Line Discovery, and Table 1 summarizes drill results, using a 0.01 opt (0.34 g/t) cutoff for intervals greater than 10 feet (3 metres). All core holes were drilled at an angle to intersect potentially mineralized structural zones, and all holes were directionally surveyed.
Core hole WRC-004 was drilled to intersect a potential east-west oriented "feeder" zone in the Willard mine area. This drillhole extended the mineralized zone encountered in RC drillholes (WR-004 and WR-028) to the north. This hole encountered the most intense alteration found to date at Willard, and the mineralized interval is almost twice as thick as drilled in the RC drillholes to the south. This mineralization is still open to the north, and along a high-angle east-west oriented structural corridor.
Core hole WRC-001 was drilled about 200 feet (61 metres) to the south of RC drillhole WR-003 and extended the mineralized zones intercepted, and this mineralization is still open to the south. Core hole WRC-002 was drilled between WR-005 and WR-043, located about 360 feet (110 metres) apart, and established the continuity of the mineralized zones encountered in those holes. Core hole WRC-003 was drilled 200 feet (61 metres) south of RC drillhole WR-002 and extended the mineralized zones intersected. This mineralization is still open to the south.
The core drilling confirmed the continuity of mineralization between RC drillholes and extended the mineralization to the north and south, and opens up the possibility of a high-grade feeder zone along the newly defined east-west structural trend. At the end of the drilling program, the Section Line Discovery remains open to the north, south and west.
The core holes presented in the table intersected several intervals of low-grade gold mineralization greater than 0.005 opt (0.17 g/t) gold. These intervals did not meet the rigorous cutoff criteria used to define the results table, but show significant thicknesses of low-grade gold material. As an example, using a 0.005 opt (0.17 g/t) gold cut off, core hole WRC-004 intersected 221 feet of 0.025 opt (67 metres of 0.9 g/t) gold from 517 feet to 738 feet (158 metres to 225 metres).
All new RC and core drill information will be incorporated in to an updated 43-101 resource estimate for the Wilco project which will be completed in the first quarter of 2008. A second phase drill program is planned for 2008. Gold assay results from all 48 reverse circulation drillholes (WR-001 to WR-048) were summarized in a press release dated November 29, 2007.
Dr. Radu Conelea, AIPG Certified Professional Geologist #06871, the Company's Chief Geologist, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and has reviewed the technical disclosure in this press release.
Mr. Shea Clark-Smith is overseeing the gold assay and geochemical quality control and assurance programs for Rye Patch Gold's Wilco project. He is responsible for creating, administering, and monitoring sample preparation and analytical QA/QC procedures for the drilling program.
ALS Chemex performed all analytical testing using industry-standard analytical techniques. Gold was analyzed using fire assay on a 30-gram sample with an atomic absorption finish.
Rye Patch Gold Corp. is a Nevada-focused and discovery-driven company building a sizeable inventory of gold 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 projects. Rye Patch Gold is developing its primary assets -- the advanced-stage Wilco project located within the Humboldt Gold Trend in west-central Nevada and the Jessup project in Churchill County, Nevada. Each Rye Patch Gold share is backed by a portion of gold ounces that represent a tangible link to gold price, and a store of value for our investors. The Company is seeking gold opportunities that continue to create shareholder value and leverage the gold price.
Rye Patch Gold trades on the TSX Venture Exchange under the symbol RPM and the Company's warrants trade under the symbol RPM.WT. 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:
Karen Robb, Manager Investor Relations
Rye Patch Gold Corp.
info@ryepatchgold.com
Jon Ruby
The Buick Group
jruby@buickgroup.com
Phone: 1-877-748-0914
The TSX Venture Exchange does not accept 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
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