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Rye Patch Gold Corp.

Publié le 18 décembre 2015

Rye Patch Amends Patty Agreement with Barrick and Provides Update

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Rye Patch Amends Patty Agreement with Barrick and Provides Update

Vancouver, British Columbia, December 18, 2015 - Rye Patch Gold Corp (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the 'Company' or 'Rye Patch') is pleased to announce that it has re-negotiated and amended (the First Amendment) the Annual Exploration Expenditure with the Barrick, McEwen Mining, and Chapleau Resources (the Barrick Group). The old and new Annual Exploration Expenditure are summarized below. The First Amendment allows for an additional year to complete the US$5-million Exploration Expenditure obligation outlined in the October 18, 2011, Exploration, Development and Mine Operating Agreement.

Year Old Annual Exploration Expenditures New Annual Exploration Expenditures New Aggregate Expenditures
December 31, 2012 $500,000 $500,000 $500,000*
December 31, 2013 $700,000 $700,000 $1,200,000*
December 31, 2014 $850,000 $850,000 $2,050,000*
December 31, 2015 $1,450,000 $800,000 $2,850,000*
December 31, 2016 $1,500,000 $1,000,000 $3,850,000
December 31, 2017 $1,150,000 $5,000,000

* Commitment met

'The Patty project is a high risk, high reward venture that requires thorough and rigorous geologic input before each drillhole is permitted and started. The protracted permitting process in the area doesn't allow Rye Patch much flexibility, so when a target does not pan out as envisioned, changing the drill strategy in mid-stream is not an option.

We greatly appreciate our partners allowing us the additional year to complete the earn-in so we can concentrate on making a new discovery at Patty', stated William Howald, the Company's President and CEO.

The 2015 drill program focused on two areas, Indian Creek and Goldrush. The targets were selected using geologic mapping, detailed geologic cross sections, geophysical interpretation, and in-house knowledge of Carlin-style deposits.

The Company selected flooded reverse circulation drilling as the method to complete the proposed drillholes because of its ability to provide quality, uncontaminated sample material for assay. Barrick supported the recommendation based on their experience at Goldrush. The drilling method presented several technical challenges, including retrieving a high quality sample from the deep drillholes.

A total of 1,905 metres (6,250 feet) was completed in three flooded-reverse-circulation drillholes at the Indian Creek target. Based on geologic logging and geochemistry, the drillholes did not reach the lower-plate target horizon, and a review of the geologic model is in progress to re-assess key elements in the Indian Creek target.

The Goldrush target was not drilled because the three holes at Indian Creek went over budget. Challenging ground conditions and the learning curve associated with a new drilling method along with increased costs for materials and mud caused the budget overage.

RP-009 is a vertical drillhole completed to a depth of 762 metres (2500 feet). The proposed target was lower-plate lithologies in a postulated rollover anticline associated with a high-angle fault. The drillhole finished in upper plate rocks. Geochemical analysis returned a strong arsenic anomaly near the bottom of the drillhole starting at 700 metres (400-1500 ppm As) suggesting the presence mineralization at deeper levels than initially targeted.

RP-010, also vertical, was drilled to 686 metres (2250 feet). The target was the lower-plate sequence and intersecting high-angle faults (possible feeders). The drillhole never left the upper-plate lithologies; however, anomalous low-level gold was intercepted. This drillhole was converted to a water monitoring well for Barrick's Goldrush deposit located roughly 15 kilometres to the north.

RP-011 is an angle drillhole (Azimuth 270 and dip 55) completed to a depth of 457 metres (1,500 feet). The drillhole remained in upper-plate lithologies its entire length.

Rye Patch Gold US Inc. maintains a strict quality control program at all of its projects. All drill samples are submitted to American Assay with assay blanks and gold and silver standards. Rye Patch inserts approximately one quality control sample for every ten samples submitted to the assay laboratory. The reverse circulation character samples are logged and photographed on site. Rye Patch Gold US Inc. collected the samples and transported them to one of American Assay's preparation facilities located in either Elko or Reno, Nevada. American Assay performed all analysis at their 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 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 silver values greater than 10-g/t silver. 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 led by a seasoned management team that has participated in major discoveries totaling over 100-million ounces of gold. The team is engaged in the acquisition, exploration and development of quality resource-based gold and silver projects along the emerging Oreana trend and the prolific Cortez trend. Benefitting from its strong financial position, the Company's strategy is to balance development and exploration risk, creating value by:

  • Advancing the Lincoln Hill project toward production;
  • Pursuing a world class discovery - Garden Gate and Patty - contiguous to and on strike with Barrick's Goldrush deposit; and
  • Seeking new project opportunities and accretive transactions.

The Company's cash and cash flowing royalty allow for progress without dilution to shareholders. For more information about the Company, please visit our website at www.ryepatchgold.com.

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.

Lire la suite de l'article sur www.noodls.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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TSX-V (RPM.V)
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