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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.
Message: Drills 7.58 g/t Au and 34.3 g/t Ag Over 3.0 Metres at Lincoln Hill
| March 27, 2009 | |||
| Rye Patch Drills 7.58 g/t Au and 34.3 g/t Ag Over 3.0 Metres at Lincoln Hill | |||
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2009) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT)(OTCBB:RPMGF) ("Rye Patch" or the "Company") reports gold and silver results from its follow-up, phase-1 reverse circulation drilling at the Lincoln Hill project. A total of 968 metres (3,175 feet) was completed in 7 reverse circulation drillholes. Table 1 summarizes the assay results of the follow-up drill program.------------------------------------------------------------------------
Table 1: Lincoln Hill Project - 2008 Reverse Circulation Drill Program
(LR-019 to LR-025)
------------------------------------------------------------------------
Drillhole Total
Au Ag interval From To Depth
Drillhole Target g/t g/t metre metre metre (Metres)
------------------------------------------------------------------------
LR-019 Lincoln Hill 0.82 51.4 3.0 10.7 13.7 122.0
LR-019 Lincoln Hill 0.65 6.9 4.6 27.4 32.0
LR-019 Lincoln Hill 0.58 37.7 7.6 39.6 47.2
LR-019 Lincoln Hill 0.41 54.9 6.1 51.8 57.9
------------------------------------------------------------------------
LR-020 Lincoln Hill 0.99 13.7 7.6 13.7 21.3 76.2
LR-020 Lincoln Hill 0.55 20.6 18.3 29.0 47.2
------------------------------------------------------------------------
LR-021 Lincoln Hill 0.41 30.9 3.0 13.7 16.8 146.3
LR-021 Lincoln Hill 0.51 3.4 3.0 33.5 36.6
LR-021 Lincoln Hill 1.37 13.7 4.6 59.4 64.0
------------------------------------------------------------------------
LR-022 Lincoln Hill 0.62 6.9 3.0 47.2 50.3 167.7
LR-022 Lincoln Hill 0.48 24.0 4.6 54.9 59.4
------------------------------------------------------------------------
LR-023 Lincoln Hill 0.86 10.3 13.7 3.0 16.8 122.0
------------------------------------------------------------------------
LR-024 Lincoln Hill 0.99 5.8 12.2 38.1 50.3 150.9
LR-024 Lincoln Hill 0.58 27.4 6.1 57.9 64.0
LR-024 Lincoln Hill 3.46 30.9 7.6 71.6 79.2
Including 7.58 34.3 3.0 74.7 77.7
LR-024 Lincoln Hill 1.10 37.7 4.6 91.4 96.0
LR-024 Lincoln Hill 0.48 17.1 4.6 103.6 108.2
LR-024 Lincoln Hill 0.51 58.3 10.7 112.8 123.4
Including 1.17 126.9 3.0 115.8 118.9
LR-024 Lincoln Hill 0.72 3.4 3.0 129.5 132.6
------------------------------------------------------------------------
LR-025 Lincoln Hill 0.55 3.6 3.0 129.5 132.6 182.9
LR-025 Lincoln Hill 0.86 67.2 1.5 181.4 182.9
------------------------------------------------------------------------
NSV equals No Significant Values
The assay results indicate the stockwork mineralization hosts high-grade structurally controlled gold and silver (21.3 metres grading 27.2 g/t Au and 34 g/t Ag including 7.6 metres grading 75.4 g/t Au and 82 g/t Ag) surrounded by a near surface, stockwork gold and silver zone. To ensure gold assays captured the higher grade portion of the gold system, selected intervals from drillholes LR-019, LR-021 and LR-023 were re-run using metallic-screen, fire-assay analysis. The results of this study show gravity separation (coarse gold) is a potential assay issue that should be addressed in future drilling programs. Additional study is warranted to fully ensure the assay results to date capture the coarse gold and produce representative assay values. Future drilling programs will require core to fully evaluate and understand the high-grade nature of the mineralization. Table 2 summarizes the results of the initial coarse gold study. ------------------------------------------------------------------------
Table 2: Metallic Screen Gold Analysis
------------------------------------------------------------------------
Combined Weight Weight
Coarse + Coarse Fine Coarse Fine
Fine Fraction Fraction Fraction Fraction
SAMPLE ID Au ppm Au ppm Au ppm (grams) (grams)
------------------------------------------------------------------------
LR-019- 140- 145 0.42 0.11 0.42 9.19 1248.5
LR-019- 145- 150 1.31 6.99 1.22 19.89 1199.5
LR-019- 150- 155 1.16 26.20 0.66 20.64 1016.5
LR-019- 170- 175 0.37 -0.05 0.37 10.04 1223.5
LR-019- 175- 180 0.53 0.22 0.54 35.81 1380.0
LR-019- 180- 185 0.34 0.18 0.35 33.30 1117.0
------------------------------------------------------------------------
LR-021- 80- 85 0.24 0.47 0.24 16.91 1017.5
LR-021- 85- 90 0.08 1.45 0.07 9.64 996.3
LR-021- 110- 115 0.59 15.30 0.45 11.36 1162.0
LR-021- 115- 120 0.24 3.63 0.10 39.39 938.7
LR-021- 150- 155 0.22 1.16 0.20 28.38 1115.0
LR-021- 195- 200 -0.05 -0.05 0.05 27.08 1065.5
LR-021- 200- 205 0.91 1.24 0.90 29.74 1007.5
LR-021- 205- 210 0.42 2.15 0.39 27.49 1460.5
LR-021- 210- 215 0.42 0.65 0.42 24.68 881.4
------------------------------------------------------------------------
LR-023- 75- 80 0.12 0.89 0.08 44.92 824.9
LR-023- 80- 85 0.08 0.42 0.07 31.19 879.5
LR-023- 85- 90 0.09 0.82 0.08 25.57 1437.0
LR-023- 140- 145 0.11 0.34 0.10 41.50 804.0
LR-023- 195- 200 0.29 0.57 0.28 37.08 1233.5
------------------------------------------------------------------------
As released on the Company's Wilco project on May 12, 2008, and on the Jessup project in December 11, 2007, Rye Patch Gold now holds 779,517 ounces of gold and gold equivalent in the measured and indicated category plus 1,151,776 ounces of gold and gold equivalent in the inferred category. The table below summarizes the resources for Rye Patch Gold's advance-stage projects. ---------------------------------------------------------------------------
Table: Rye Patch Gold's NI43-101 Gold Resource Inventory
---------------------------------------------------------------------------
Contained
Gold & Gold
Resource Gold Silver Contained Contained Equiv.
Category Tons Grade Grade Gold Silver Ounces
Property (1) (X 1,000) opt opt Ounces Ounces (3)
---------------------------------------------------------------------------
Wilco(2) Measured 8,091 0.018 NC 146,701 NC 146,701
Indicated 32,950 0.015 NC 478,816 NC 478,816
Inferred 99,978 0.011 NC 1,124,776 NC 1,124,776
---------------------------------------------------------------------------
Jessup(2) Measured 0 0 0 0 0 0
Indicated 5,423 0.022 0.31 120,000 1,655,000 154,000
Inferred 1,265 0.017 0.23 22,000 286,000 27,000
---------------------------------------------------------------------------
Total Measured Resources 146,701 0 146,701
Total Indicated Resources 598,816 1,655,000 632,816
Total Inferred Resources 1,146,776 286,000 1,151,776
---------------------------------------------------------------------------
(1) Conforms to 43-101 definitions for resources. All numbers are rounded.
(2) Cutoff grade for Willard Measured and Indicated resource is reported at
0.0056 opt Au for oxide mineralisation and 0.042 opt Au for sulphide
mineralisation. The Inferred resource is reported at 0.0056 opt Au for
oxide, sulphide and carbonaceous ore types; however, a higher opt Au
cut-off grade may be required to upgrade the inferred resource to the
measured and indicated resource category. Cutoff grade for Jessup is
0.01 oz Au/t for oxide mineralisation, 0.015 oz Au/t for mixed
material, and 0.025 oz Au/ton for all unoxidised material;
(3) Jessup Resource includes Au equivalent ounces (50g/t Ag equals
1g/t Au). NC equals not calculated
Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold's CEO and President, is the Qualified Person as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release. Rye Patch Gold maintains a strict quality control program at all of its projects. Rock-chip samples are delivered to ALS Chemex's preparation and analytical facility located in Reno, Nevada. Analyses are conducted on 1-assay ton prepped samples with gold determined using industry standard fire assay methods, with an atomic absorption finish. Rye Patch Gold Corp. 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 acquisition, exploration and development of quality resource-based gold and silver 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. 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 Rye Patch Gold, please visit our website at www.ryepatchgold.com. On behalf of the Board of Directors William C. (Bill) Howald, CEO & President |
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