Rye Patch Gold

Welcome To The Rye Patch Gold Corp HUB On AGORACOM Nevada focused and discovery driven building a sizeable inventory of gold assets.

Home Videos Research Press Release Q&A Discussion

Threads Posts

RPM identifies new gold target

Rye Patch Gold

about 14 years ago

Rye Patch Gold Identifies New Gold Target Along The Oreana Trend

Rye Patch Gold Corp (RPM:CA)

11 August 2010, 09:34 AM EST

Vancouver, British Columbia, August 11, 2010 - Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) ("Rye Patch" or the "Company") has identified a new gold target along the Oreana trend on its 100% owned Gold Ridge property. The new target zone, named Red Hill, has a mapped strike length of one kilometer along a northerly trend and is open to the north, south and down dip. Rock-chip sampling of the alteration has returned gold values between 0.22 g/t Au to 5.6 g/t Au from seven chip-channel samples across surface exposures of the hydrothermal breccias. The hydrothermal breccia’s true thickness has yet to be determined; however, outcrop exposures of the silica altered zones are between two and twenty metres in thickness.

"Rye Patch’s exploration program along the Oreana trend continues to bear fruit with the identification of the Red Hill target on our 100% owned Gold Ridge property. The Red Hill target is the fifth node discovered along the Oreana trend. With Rye Patch’s mounting gold and silver resources and new drill targets alone, the Oreana trend is becoming a sizable gold/silver district in west central Nevada", commented William C. (Bill) Howald, the Company’s CEO and President.

A soil samples grid totalling 195 samples was established and sampled. The gold results shows a strong positive one-kilometre long gold anomaly associated with the hydrothermal breccia as well as a second one-kilometre parallel anomaly located 200 metres to the east. A follow-up surface sampling program is in progress.

The reported gold and silver values are associated with silica cemented hydrothermal breccias that appear concordant within a sequence of westerly dipping sediments of the Triassic Auld Lang Syne Group. The silica breccias sit within a larger package of altered, brecciated limestone and clastic rock units. Based on geologic mapping, the alteration zones appear to thicken toward the north; however, poor outcrop exposures and post-mineral volcanic rocks are concealing the true thickness of the gold and silver mineralization. At this time, Rye Patch’s exploration team is completing surface geologic mapping, additional rock-chip and soil sampling, and a CSAMT geophysical survey to verify the geometry of the large alteration zone. A phase-one drill program is in the planning stages with a late September start date envisioned.

The Gold Ridge property lies between and adjoins the Company’s 100% controlled Wilco and Lincoln Hill projects. Rye Patch staked the claims in 2009 adding significantly to its land holdings along the Oreana trend. The Gold Ridge property has no encumbrances and the Company owns 100% of the claims. The Gold Ridge property consists of 402 unpatented lode claims covering over 21 square kilometers centered along the Oreana gold and silver trend.

As announced on May 18, 2010, May 11, 2009, and June 2, 2009 in respect of the Lincoln Hill, Wilco and Jessup projects, Rye Patch Gold’s resource inventory now totals 1,182,780 ounces of gold equivalent in the measured and indicated category plus 2,727,100 ounces of gold equivalent in the inferred category. The following table summarizes Rye Patch Gold’s precious metal inventory in Nevada, USA.

Rye Patch Gold’s NI43-101 Resource Inventory (1)
Property	Resource	Tonnes (X 1,000)	Gold Grade (g/t)	Silver Grade (g/t)	Contained Gold Ounces	Contained Silver Ounces	Contained Au & Au Equivalent Ounces (4)
Category

Wilco (2)	Measured	7,526	0.69	4.595	164,000	1,111,000	186,220
Indicated	30,844	0.51	3.601	522,000	3,638,000	594,760
Inferred	121,838	0.41	5.075	1,660,000	19,871,000	2,057,420
Jessup(2)	Measured	7,775	0.51	8.745	128,000	2,184,000	171,680
Indicated	12,642	0.41	7.167	172,000	2,906,000	230,120
Inferred	4,494	0.55	7.922	77,000	1,146,000	99,920
Lincoln Hill (3)	Measured	-	-	-	-	-	-
Indicated	-	-	-	-	-	-
Inferred	17,215	0.69	17.143	380,000	9,488,000	569,760
Total Measured & Indicated Resources	986,000	9,839,000	1,182,780
Total Inferred Resources	2,117,000	30,505,000	2,727,100
(1) All resources on 100% basis. Metallurgical recoveries and net smelter returns are assumed to be 100%. Conforms to 43-101 resource definitions;
(2) Cutoff grade for Wilco Measured and Indicated resource is reported at 0.2 g/t Au for oxide mineralisation and 1.45 g/t Au for sulphide mineralisation. The Inferred resource cut-off grade is reported at 0.2 g/t 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. Cut-off grade for Jessup is reported at 0.2 g/t Au for oxide mineralisation and 0.34 g/t Au for transition and sulphide mineralisation; and
(3) The Inferred resource is reported at a cut-off grade of 0.34 g/t (0.01 opt) Aueq for oxide and transitional ore types;
(4) Wilco, Jessup and Lincoln Hill resources includes Au equivalent ounces (Aueq.); where Aueq. = (Au ozs) + (Ag ozs X $Ag/oz)/$Au/oz, for Au/oz = $900, and Ag/oz = $18.

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 Corp. is a well-funded, 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, Lincoln Hill and Gold Ridge projects located along the emerging Oreana 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 Howald'
William C. (Bill) Howald, CEO & President

Click here for contact information