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Rye Patch Expands Mystic and South Packard Pediment Silver-Gold Zones and Identifies New Mineralization at West Pediment
Published : February 21, 2013
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2013) - Rye Patch Gold Corp. (News - Market indicators)(OTCQX:RPMGF)(FRANKFURT:5TN) (the "Company" or "Rye Patch") is pleased to announce the results of its fall 2012 drilling program on the LH claims in Pershing County, Nevada. The drilling was highly successful and includes the following highlights:

  • Drilling expanded the Mystic Silver-Gold zone southward where a thick -183 metre - zone with multiple higher grade drill intersections was encountered in RMR-060;
  • In the South Packard Pediment, drilling extended gold and silver mineralization to the northeast, and in-fill drilling confirmed the predictability of the geologic model;
  • The West Pediment target returned encouraging assay results from a blind, covered north-northwest geophysical target west of the Rochester and Packard mines; and
  • Surface rock-chip sampling at Sunflower Hill returned gold assays averaging 10.365 g/t gold and 483.2 g/t silver.

At the Mystic zone, drilling focused on the parallel northeast structural zones. Drillhole RMR-060 was drilled south of RMR-032 and RMR-035, and confirms the Mystic area is a wide zone of parallel northeast trending quartz vein swarms. The area is partially covered with a thin veneer of alluvium making outcrops sparse. Drillhole RMR-060 drilled 183 metres grading 11.8 g/t Ageq with multiple internal zones ranging from 19.3 g/t Ageq to 29.0 g/t Ageq over 4.6 to 38.1 metres. The existing drilling covers an area roughly one kilometre by one kilometre; however, the northeast strike potential may be up to three kilometres and connect with the Sunflower Hill target.

The South Packard Pediment drilling followed up on drillholes RMR-039 to RMR-044 drilled in the spring of 2012. The fall program defined the orientation of the high-grade silver encountered in RMR-039, RMR-041 and RMR-042. Drillholes RMR-062 and RMR-063 intersected significant zones of mineralization including 72.9 g/t Ageq over 94.5 metres in RMR-062, and 20.5 g/t Ageq over 117.3 meters in RMR-063. RMR-064 closed the system to the southeast. The South Packard Pediment mineralization is approximately one kilometre in length, and the zone is open to the northeast and southwest.

The West Pediment zone is an exciting new zone identified in the ground magnetic geophysical survey. The zone extends from the Lincoln Hill Gold-Silver deposit located four kilometres to the north. The over length of the anomalous geophysical zone is over six kilometres. At Lincoln Hill, the gold and silver deposit is located along the margin of the magnetic geophysical anomaly. The anomaly trends north-northwest and five drillholes were completed on the LH claims. The drillholes returned encouraging gold and silver assays, and the zone warrants additional exploration.

At Sunflower Hill, rock-chip samples returned gold values ranging from 0.243 g/t gold to 87.39 g/t gold with an average of 10.365 g/t gold. Silver assays range from 4.4 g/t silver to 2,990 g/t silver and average 483.2 g/t silver over a 300 metre by 300 metre area. The Sunflower Hill area lies immediately adjacent to the Rochester pit along the ridge that separates Rochester Canyon from Weaver Canyon. The gold and silver values are associated with a northeast trending, strongly altered and oxidized rhyolite. The Sunflower zone is believed to connect with the Mystic zone located three kilometres to the southwest. Additional exploration work is required to confirm how the Mystic and Sunflower Hill zones connect.

The reverse-circulation drilling program was completed in late November 2012, and focused on three areas - Mystic, South Packard Pediment and West Pediment. A total of 1,939 metres (6,360 feet) of reverse-circulation drilling were completed in twelve drillholes. The results of this program are summarized in Table 1.

Table 1: LH Claims 2012 Reverse-Circulation Drillhole Assay Results
Hole ID Target Au g/t Ag g/t Aueq(1)
g/t
Ageq(1)
g/t
Drillhole
Interval
metres
(2)
From
metres
To
metres
Total
Depth
metres
RMR-053 West Pediment 0.013 22.4 0.461 23.1 1.5 42.7 44.2 153.9
RMR-054 West Pediment 0.112 0.3 0.118 5.9 3.0 164.6 167.6 225.6
RMR-055 West Pediment 0.019 6.1 0.141 7.1 1.5 89.9 91.4 118.9
RMR-055 West Pediment 0.012 5.5 0.122 6.1 1.5 102.1 103.6
RMR-055 West Pediment 0.014 6.2 0.138 6.9 1.5 108.2 109.7
RMR-056 West Pediment 0.009 7.1 0.151 7.6 1.6 59.4 61.0 144.8
RMR-057 West Pediment 0.009 4.9 0.106 5.3 7.7 92.9 100.6 195.1
RMR-058 Mystic 0.008 5.8 0.124 6.2 15.2 54.9 70.1 150.9
RMR-059 Mystic 0.012 6.8 0.148 7.4 24.4 56.4 80.8 147.8
RMR-060 Mystic 0.030 10.3 0.236 11.8 182.9 33.5 216.4 225.6
Including 0.016 18.5 0.387 19.3 9.2 39.6 48.8
Including 0.061 25.9 0.580 29.0 4.6 121.9 126.5
Including 0.038 18.1 0.400 20.0 12.2 153.9 166.1
Including 0.075 20.6 0.488 24.4 38.1 178.3 216.4
RMR-061 Mystic 0.015 4.8 0.111 5.6 1.5 176.8 178.3 182.9
RMR-062 South Packard Pediment 0.175 64.2 1.458 72.9 94.5 0.0 94.5 99.1
Including 0.265 99.5 2.254 112.7 57.9 33.5 91.4
Including 0.708 240.2 5.513 275.7 18.3 45.7 64.0
RMR-063 South Packard Pediment 0.034 18.8 0.410 20.5 117.3 0.0 117.3 141.7
Including 0.095 49.5 1.085 54.3 29 82.3 111.3
Including 0.423 188.4 4.190 209.5 4.6 82.3 86.9
RMR-064 South Packard Pediment NSV 152.4
Cutoff grade: Ageq = 5 g/t; (1) Aueq = Au + (Ag / 50) & Ageq = Ag + (Au x 50); (2) True Thickness Unknown; (NSV) No Significant Values

Rye Patch Gold US Inc. maintains a strict quality control program at all of its projects. All reverse circulation samples are submitted to American Assay with prep-blanks, assay blanks, and gold and silver standards. Rye Patch Gold US Inc. inserts approximately one quality control or quality assurance sample for every twenty samples submitted to the assay laboratory. The RC chips 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 atomic absorption 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- or four-acid digestion and an AA finish. 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 verified the information contained in, and has reviewed and approved the contents of, this news release.

Rye Patch Gold US Inc. controls over 100 square kilometres (40 sq. miles) along the Oreana trend. The senior LH and OG Claims which comprises the Rochester Project consist of 413 unpatented lode mining claims which control mineral title over 30 square kilometres (approximately 7,500 acres).

The Company is a 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 the acquisition, exploration, and development of quality resource-based gold and silver projects. Rye Patch Gold US Inc. is developing gold and silver resources along the emerging Oreana trend, located in west-central Nevada, and is exploring 66 square kilometres along the Cortez trend near Barrick's two new gold discoveries. 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 C. (Bill) Howald, CEO & President

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 to pursue legal undertakings; the outcome of legal action relating to the Rochester property and the LH unpatented claims, 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. Litigation is inherently uncertain and factors that could cause actual results to differ materially from those in forward-looking statements include unexpected judicial findings of fact, previously unknown facts arising, and decisions which depart from past legal precedent and similar events.

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.

Rye Patch Gold Corp.
(604) 638-1588
(604) 638-1589 (FAX)
info@ryepatchgold.com
www.ryepatchgold.com

Rye Patch Gold Corp.

EXPLORATEUR
CODE : RPM.V
ISIN : CA7837271005
CUSIP : 783727 10 0
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Rye Patch Gold est une société d’exploration minière d'or basée au Canada.

Rye Patch Gold détient divers projets d'exploration en USA.

Ses principaux projets en exploration sont LINCOLN HILL, JESSUP, WILCO, GARDEN GATE PASS et GOLD RIDGE NEVADA en USA.

Rye Patch Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 410,5 millions CA$ (318,7 millions US$, 273,4 millions €).

La valeur de son action a atteint son plus bas niveau récent le 20 février 2009 à 0,10 CA$, et son plus haut niveau récent le 19 janvier 2018 à 1,66 CA$.

Rye Patch Gold possède 387 300 000 actions en circulation.

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Financements de Rye Patch Gold Corp.
24/12/2009Closes First Tranche Of Private Placement
15/12/2009Announces Private Placement
15/12/2008Announces Private Placement
16/05/2008Rye Patch Announces Follow-Up Private Placement
16/05/2008Rye Patch Closes $1.25 Million Private Placement
Attributions d'options de Rye Patch Gold Corp.
11/06/2008Grants Stock Options
Nominations de Rye Patch Gold Corp.
22/10/2007Hires Manager Of Investor Relations
Projets de Rye Patch Gold Corp.
14/02/2014Discusses Exploration Programs And Budget For 2014
31/12/2013Coeur Rochester Mine Royalty Starts At Midnight
06/08/2013Quantifies 3.4% NSR Coeur Rochester Mine Royalty
09/05/2013(Lincoln Hill)Reports Lincoln Hill Exploration Update
08/05/2013Reports LH Claims Exploration Results
21/02/2013Expands Mystic And South Packard Pediment Silver-Gold Zones ...
01/10/2012Rye Patch Updates Gold Exploration Along the Cortez Trend
17/09/2012Rye Patch Announces Updated Gold and Silver Resources Within...
17/09/2012Rye Patch Announces Updated Gold and Silver Resources Within...
17/09/2012(Lincoln Hill)Announces Updated Gold and Silver Resources Within an Open P...
10/07/2012Rye Patch Intersects More Gold and Silver on the LH Claims
29/06/2012Rye Patch Leases Additional Land on the Rochester Project
27/06/2012Rye Patch Announces 1=2E28 Million ozs ofGold in the Measure...
30/05/2012(Garden Gate Pass)Starts Drilling at Garden Gate Pass
22/02/2012s Exploration Progress on Rochester Project
21/02/2012(Garden Gate Pass)Garden Gate Pass Project on Major Discovery Trend
01/02/2012(Gold Ridge Nevada)Reports Gold And Silver Assays From Gold Ridge
24/01/2012Stakes More Claims And Starts Drilling At Rochester
09/01/2012Makes New Gold and Silver Discoveries on the Rochester Prope...
06/01/2012(Garden Gate Pass)Bill Howald interviewed by Smallcappower.com regarding the r...
08/12/2011(Lincoln Hill)Announces Results of 2011 Lincoln Hill Drill Program
05/12/2011Expands Oreana Trend Holdings Stakes Mining Claims On Existi...
03/10/2011(Lincoln Hill)Finds New High-Grade Gold And Silver Zones At Lincoln Hill
13/09/2011(Garden Gate Pass)is Drilling at Garden Gate Pass Project
09/08/2011(Garden Gate Pass)is Ready to Drill Garden Gate Pass Project
27/07/2011(Wilco)Reports Metallurgical Results From Wilco
02/06/2011(Wilco)Drills Thick Gold Zone at Wilco
25/05/2011(Lincoln Hill)Starts Drilling on Jefferson Zone at Lincoln Hill
16/05/2011Resource Clips: Rye Patch Works Toward Eight Million Nevada ...
09/05/2011(Wilco)Extends North Basin High-Grade Zone At Wilco
20/04/2011(Jessup)Adds Jessup to 2011 Program and Budget
03/03/2011(Wilco)Drills More High-Grade Gold at Wilco
17/02/2011(Wilco)Announces 2011 Programs and Budgets for Nevada Portfolio
17/02/2011(Jessup)Announces 2011 Programs and Budgets for Nevada Portfolio
17/02/2011(Gold Ridge Nevada)Announces 2011 Programs and Budgets for Nevada Portfolio
08/02/2011(Lincoln Hill)Drills Thick Zones of Gold and Silver at Gold Ridge
25/01/2011(Wilco)Continues Drilling Success at Wilco
12/01/2011(Lincoln Hill)Drills New Gold and Silver Zone on Lincoln Hill
11/08/2010(Lincoln Hill)Identifies New Gold Target Along The Oreana Trend
30/06/2010(Lincoln Hill)Files Technical Report on Lincoln Hill Resource
07/06/2010(Wilco)Drills 44.5 G/T Au and 36.3 G/T Ag over 1.5 Metres at Wilco
10/12/2009(Lincoln Hill)Drills 21.19 g/t Gold Over 7.0 Metres At Lincoln Hill
13/11/2009(Lincoln Hill)Drills 15.2 G/T Gold And 308 G/T Silver Over 3 Metres At Lin...
11/06/2009(Lincoln Hill)Plans Program for High-Grade Gold at Lincoln Hill Project
02/06/2009(Jessup)Jessup Gold and Silver Resource Estimate
25/11/2008(Wilco)Drills 38.1 Metres Grading 2.61 G/T Au In New Target At Wilc...
12/11/2008(Jessup)Drills 7.6 Metres Grading 9.19 G/T Au At Jessup
17/06/2008(Wilco)Begins 2008 Drilling on Wilco Project to Expand Known Gold R...
12/05/2008(Wilco)Outlines Oxide Characteristics Of Wilco Resource
27/03/2008(Jessup)Extends Gold Mineralization At The Jessup Resource Project
12/03/2008(Lincoln Hill)Discusses Progress At The Lincoln Hill/Gold Ridge Project
09/01/2008(Wilco)Drills 176 Feet Of 0.030 Opt Gold At Wilco Discovery
Communiqués de Presse de Rye Patch Gold Corp.
29/07/2016Rye Patch Announces Acquisition of the Florida Canyon Gold M...
09/07/2016Rye Patch Announces Filing of NI 43-101 Technical Report on ...
16/06/2016Rye Patch Announces Completion of Cdn$49.1 Million Private P...
02/06/2016Rye Patch Announces Cdn$40 Million Private Placement of Subs...
25/05/2016Rye Patch Signs Agreement to Acquire Florida Canyon Gold Min...
14/01/2016Rye Patch Stakes claims along Gold Ridge-Florida Canyon tren...
18/12/2015Rye Patch Amends Patty Agreement with Barrick and Provides U...
15/12/2015Caesars Report's Thibaut Lepouttre Interviewed by The Gold R...
29/10/2015Rye Patch receives $1,462,300 quarterly royalty payment
28/10/2015Rye Patch Begins Drilling Within the Lincoln Hill Resource C...
19/10/2015U.S. Global Investors' Frank Holmes and Ralph Aldis Intervie...
15/09/2015Rye Patch Completes Metallurgical Drill Program at Lincoln H...
28/08/2015Rye Patch Gold Grants Stock Options
11/08/2015Rye Patch Arbitrates Q1 2014 Royalty Payment with Coeur
16/07/2015Rye Patch receives $1,490,000 quarterly royalty payment
09/07/2015Rye Patch Purchased and Cancelled 923,500 Common Shares in Q...
16/04/2015Rye Patch Receives $1,850,000 Quarterly Royalty Payment
09/04/2015Rye Patch Completes Land Purchase at Lincoln Hill
09/04/2015Rye Patch Hires Lincoln Hill Project Team
07/04/2015Rye Patch Completes Land Purchase at Lincoln Hill
02/04/2015Rye Patch Adds to Oreana Land Position
18/03/2015Rye Patch Drilling Targets World Class Cortez Gold Trend
03/03/2015Rye Patch Gold Buys Strategic Private Surface and Mineral Es...
02/03/2015Rye Patch Gold Appoints Tony Wood as Chief Financial Officer
10/02/2015Rye Patch Gold 2015 - Funded and Active
25/11/2014Rye Patch Updates Investors On Receipt Of Cash From Royalty
24/11/2014Rye Patch Drills High-Grade Structural Zones At Lincoln Hill
15/10/2014Rye Patch Drills High-Grade Gold At Wilco
06/10/2014Rye Patch Clarifies MD&A and Technical Disclosure
17/09/2014Rye Patch Appoints Buffington to Board of Directors
15/09/2014Rye Patch Drills 1.24 g/t AuEq Over 19.8m at Its Gold Ridge ...
08/09/2014Rye Patch Appoints VP Corporate Development
21/08/2014Rye Patch Gold Announces Stock Options Extensions
23/07/2014Rye Patch Gold Grants Stock Options
03/07/2014Rye Patch Announces Filing of Technical Report for Lincoln H...
28/05/2014Rye Patch Reports Drilling Starts at Lincoln Hill
21/05/2014Rye Patch Announces Lincoln Hill Preliminary Economic Assess...
09/05/2014Rye Patch Gold Appoints New Chairman
11/12/2013(Lincoln Hill)Receives Positive Metallurgical Results From Lincoln Hill
12/07/2013Grants Stock Options
25/06/2013And Coeur Reach Settlement On LH Claim Legal Dispute
03/06/2013Reports Expansion Of Goldridge Gold/Silver Zone
06/11/2012Rye Patch Updates Rochester Project Resources Based on Coeur...
06/11/2012s Rochester Project Resources Based on Coeur d'Alene's Recen...
26/10/2012Receives New Trial Date From Sixth District Court
16/10/2012Rye Patch Receives Court Order Granting Coeur's Motion to Po...
16/10/2012Receives Court Order Granting Coeur's Motion to Postpone
01/10/2012s Gold Exploration Along the Cortez Trend
16/08/2012Rye Patch Gold Announces Amended Non-Brokered Private Placem...
15/08/2012Rye Patch Updates Status of Lawsuit Against Coeur Rochester,...
06/08/2012Rye Patch Stakes More Mineral Claims at Rochester and Packar...
30/05/2012Mid-Day Breaking News From Gold Canyon and Rye Patch
29/05/2012Drills Significant Gold And Silver Zones On The LH Claims
12/03/2012Files Motion for Restraining Order Against Coeur d'Alene Min...
15/02/2012Rye Patch Gold Achieves #6 Ranking on the 2012 TSX Venture 5...
16/01/2012Added To S&P/Tsx-V Index
10/01/2012Bill Howald discusses the latest Rochester Press Release wit...
05/01/2012Cuts Lower Plate Carbonates, Carlin-Style Alteration, and El...
21/12/2011Granted Access To The LH Claims
17/12/2011s Court Proceedings
08/09/2011Barrick's New Multi-Million Ounce Discovery at Cortez (Nevad...
25/08/2011Jay Taylor writes up Rye Patch Gold Corp.
17/02/2011Announces 2011 Programs and Budgets for Nevada Portfolio
28/07/2010Leases Wilco Geothermal Rights
23/06/2010Ubika Research Initiates Coverage on Rye Patch Gold Corp.
26/02/2010has been added to GoldMinerPulse.com
10/02/2010Executes Definitive Agreement with Centerra Gold (U.S.) Inc....
21/10/2009Coverage in the Gold Newsletter
28/11/2008Announces Release Of Previously Escrowed Securities
04/11/2008TSX Venture Exchange Advances Rye Patch Gold To Tier 1 Statu...
24/09/2008Drills 25 Feet Grading 2.2 Ounces/Ton Au at Lincoln Hill
17/09/2008Drills 45.7 Metres Grading 1.34 G/T Au At Wilco
19/08/2008Reports Lincoln Hill - Gold Ridge Drilling Complete
29/07/2008Reports On The Wilco Drill Program
10/07/2008Begins Drilling On Lincoln Hill And Gold Ridge
29/05/2008Confirms Ridge Gold/Silver Anomaly On Lincoln Hill
28/05/2008to be featured on CEO Clips airing on BNN
30/04/2008Increases Wilco Gold Resource
03/04/2008 Retains Renmark Financial Communications
28/02/2008Releases Project Programs And Budgets For 2008
06/02/2008Options Cortez Trend Gold Play From Barrick
19/11/2007Acquires Rights to Lincoln Hill Property, Nevada and Consoli...
17/10/2007Expands Section Line Discovery on Wilco Project
03/10/2007Completes Acquisition Of The Jessup Project, Nevada From Mid...
25/09/2007Drills 21 Metres of 2.74 g/t Gold New Gold Zone on Wilco Pro...
06/09/2007Doubles Wilco Gold Resource
21/08/2007Acquiring The Jessup Project, Nevada From Midway Gold Corp.
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