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NEWS RELEASE
No. 07 - 09 |
Rye Patch Gold Expands Section Line Discovery on Wilco Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2007) - Rye Patch Gold Corp (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT) ("Rye Patch Gold" or the "Company") is pleased to report gold assay results for drillholes WR-014 to WR-029 from the Company's phase-one drilling program completed this summer on the Wilco project. Gold assay results from reverse circulation drillholes WR-001 to WR-013 were released on September 24, 2007, in press release 07-07.
Starting mid-July and ending in September, forty-eight reverse circulation drillholes were completed on the Wilco project totalling 30,520 feet (9,305 metres). The majority of the drilling, 38 drillholes, was completed in the Willard resource area in four target zones - E-W Draw, Willard Hill, South Area and Section Line. Table 1 summarizes drill interval results, using a 0.01 opt (0.34 g/t) cutoff for intervals greater than 10 feet (3 metres), for Willard Hill, E-W Draw, and additional drillholes completed in the new discovery in the Section Line target area.
TABLE 1: WILCO PROJECT: 2007 REVERSE CIRCULATION DRILL PROGRAM (WR 014 to WR 029)
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Hole
Target Au interval From To
Drillhole Area oz/ton feet feet feet
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WR014 Willard Hill 0.014 50 0 50
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WR015 Willard Hill 0.010 10 0 10
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WR015 Willard Hill 0.016 25 25 50
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WR015 Willard Hill 0.025 10 360 370
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WR016 Willard Hill NSV
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WR017 Willard Hill 0.010 10 10 20
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WR017 Willard Hill 0.036 10 110 120
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WR018 Willard Hill 0.016 10 80 90
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WR019 Willard Hill 0.014 15 85 100
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WR020 Willard Hill 0.011 15 25 40
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WR020 Willard Hill 0.015 45 90 135
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WR021 Willard Hill 0.010 10 120 130
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WR021 Willard Hill 0.017 10 335 345
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WR021 Willard Hill 0.024 15 400 415
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WR022 Willard Hill 0.022 15 125 140
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WR022 Willard Hill 0.015 65 265 330
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WR023 Section Line 0.021 65 500 565
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WR024 Section Line 0.027 10 215 225
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WR024 Section Line 0.116 10 245 255
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WR024 Section Line 0.012 15 580 595
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WR025 EW Draw NSV
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WR026 EW Draw 0.014 35 280 315
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WR027 EW Draw NSV
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WR028 Section Line 0.011 30 305 335
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WR028 Section Line 0.029 20 410 430
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WR028 Section Line 0.018 105 565 670
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WR029 Section Line 0.015 30 540 570
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Hole
TD Au interval From To TD
Drillhole (feet) g/t metres metres metres (metres)
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WR014 685 0.48 15.2 0.0 15.2 208.8
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WR015 0.34 3.0 0.0 3.0
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WR015 385 0.54 7.6 7.6 15.2 117.3
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WR015 0.86 3.0 109.7 112.8
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WR016 750 NSV 228.6
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WR017 0.36 3.0 3.0 6.1
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600 182.9
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WR017 1.23 3.0 33.5 36.6
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WR018 735 0.53 3.0 24.4 27.4 224.0
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WR019 600 0.50 4.6 25.9 30.5 182.9
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WR020 0.38 4.6 7.6 12.2
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450 137.2
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WR020 0.51 13.7 27.4 41.1
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WR021 0.34 3.0 36.6 39.6
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WR021 1345 0.58 3.0 102.1 105.2 410.0
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WR021 0.82 4.6 121.9 126.5
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WR022 0.75 4.6 38.1 42.7
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645 196.6
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WR022 0.51 19.8 80.8 100.6
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WR023 645 0.70 19.8 152.4 172.2 196.6
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WR024 0.93 3.0 65.5 68.6
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WR024 645 3.98 3.0 74.7 77.7 196.6
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WR024 0.41 4.6 176.8 181.4
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WR025 905 NSV 275.8
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WR026 605 0.48 10.7 85.3 96.0 184.4
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WR027 900 NSV 274.3
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WR028 0.38 9.1 93.0 102.1
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WR028 700 0.99 6.1 125.0 131.1 213.4
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WR028 0.62 32.0 172.2 204.2
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WR029 650 0.51 9.1 164.6 173.7 198.1
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NSV equals No Significant Values
Drillholes WR-014 to WR-022 were completed in the Willard Hill target area where most of the previous mining activity took place. The shallow oxide gold mineralization intercepted in this area is localized within fractured to brecciated siltstone above the structural contact with an underlying claystone lithology. This zone is the surface exposure and correlative with the newly discovered mineralized zone at the Section Line target. No significant mineralization was found in the underlying claystone.
Drillholes WR-025 and WR-027 were drilled north and west of the E-W Draw pit to test for an extension of the gold zone intercepted by drillholes located within the E-W Draw pit. Neither hole returned significant mineralization. Geologic information from these holes suggests the existence of an E-W fault separating WR-025 and WR-027 from the E-W Draw gold zone.
Drillholes WR-023, WR-024, WR-028 and WR-029 were completed in the Section Line target area and extend the newly discovered mineralization to the north, south and east. Results from the drillholes designed to extend the gold zone to the west are pending. Drillhole WR-28 shows an increasing thickness of the gold zone to the north. Follow up of these encouraging results is underway with a core hole designed to extend the gold mineralization to the north, give a better understanding of the host lithology and structure, and test for a possible feeder zone.
The drillholes presented in the table intersected intervals of low-grade gold mineralization greater than 0.005 opt (0.17 g/t). 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, drillhole WR-028 intersected 155 feet of 0.008 opt (47.2 metres of 0.27 g/t) oxidized mineralization from 205 feet to 360 feet (62.5 metres to 110 metres).
All but five of the forty-eight reverse circulation drillholes were directionally surveyed. The majority of the holes were drilled at an angle to intersect potentially high-grade structural zones.
William C. (Bill) Howald, CEO and President stated, "I am thrilled with the results that we have received to date from the Wilco project. The Sectional Line discovery is certainly expanding and gaining significance for the project, while the geologic correlation of the lower zone with areas mined in the Willard pits could have a profound effect. Previous operators did not test this zone so the potential below the older, shallow drillholes could be significant. In addition, the Section Line drill intercepts may increase the Wilco oxide resource at Willard. Since this potentially oxidized zone appears to correlate with the near-surface gold zone at Willard Hill, the geometry of the new discovery zone could be amenable to an open-pit mining configuration."
Drilling at Wilco is continuing, with one Major Drill core rig on a 3,000 feet (914 metre) core program. Three of five core holes totalling 2,123 feet (647 metres) are complete and are being logged and prepped for gold analysis. The core program is scheduled for completion in late October with final assays anticipated in late November.
Gold assays from the remaining reverse circulation drillholes will be released as they become available within the next 4 weeks. All new assay data will be incorporated into a year end resource update for the Colado and Willard resource areas. This update is anticipated in the 1st quarter of 2008.
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. In sum, the QA/QC procedures will provide several measures of data quality and assure the Company that the data is representative of the original sample.
Samples are transported from the Wilco project to the ALS Chemex sample preparation facility in Winnemucca, Nevada, by Chemex personnel. All analytical testing is performed utilizing 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 asset - the advanced-stage Wilco project located within the Humboldt Gold Trend in west-central Nevada and has also acquired the Jessup project in Churchill County, Nevada.
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 C. (Bill) Howald, CEO & President
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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