VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2012) - Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the "Company") announces the last round of assay results from the initial drilling program on the LH Claims at the Rochester project. Rye Patch Gold US Inc., the Company's wholly owned subsidiary, has completed a total of 52 reverse circulation drillholes for 11,054 metres (36,256 feet) in its phase-one drill campaign. This news release reports gold and silver assay results for RMR-033 to RMR-052 totalling 3,517 metres (11,535 feet). A May 29, 2012, news release reported the gold and silver assay results for the first 7,537 metres (24,721 feet).
HIGHLIGHTS:
- Southeast of the Packard mine, RMR-042 intersected 190.5 metres grading 57.48 g/t Ageq starting from the surface. The zone has been extended to the west and south;
- Drilling along the Packard haul road encountered a thick zone of low-grade gold and silver ponded beneath an interlayer of sediment. The sediment acts as a seal and could provide a trap for higher grade silver and gold; and
- Rye Patch Gold US Inc. is planning a phase-two, follow-up drill campaign.
Rye Patch Gold US Inc. completed 52 reverse circulation drillholes totalling 11,054 metres (36,256 feet) on the LH claims (Rochester project). The phase-one drill program started in late January and finished in mid-June 2012.
Gold and silver values intersected in RMR-039, RMR-040, RMR-041, and RMR-042 along the southeast side of the Packard mine were extended to the south with drillholes RMR-044 and RMR-045 and to the west in drillholes RMR-047 to RMR-049. Drillhole RMR-041 cut 221 metres grading 13.76 g/t Ageq, and RMR-042 intersected 190.5 metres grading 57.48 g/t Ageq all starting at the surface. Additional drilling and follow up are warranted.
RMR-050, RMR-051, and RMR-052 returned gold and silver assays along the Packard haul road. RMR-050 intersected altered volcanic and sediments of the Weaver Rhyolite. Immediately below the sediments, the drillholes RMR-051 and RMR-052 encountered thick zones of low-grade gold and silver. The zone ranges in thickness between 110 metres and 130 metres. It appears the interlayered sediments act as a seal to the gold-silver hydrothermal system. Additional drilling is warranted and will be followed up in a phase-two drill program.
RMR-035, located in the Mystic area, was targeted on outcropping alteration identified through surface geologic mapping. The silicified zone measures 240 metres by 110 metres in outcrop. The drillhole was located on the southeast side of the alteration zone and intersected it at depth. Additional drilling along the northwest orientation of the zone is being planned.
Significant gold was encountered in three drillholes - RMR-039: 2.84 g/t Au; RMR-041: 8.34 g/t Au; RMR-042: 1.54 g/t Au - each over a 1.5 metre interval. The gold intercepts are on the southern side of the Packard mine and could indicate a high-grade gold vein system. Additional geologic work is required to understand the significance of the higher grades. Future drilling is planned for the area.
"The Company is very pleased with the results of the phase-one drilling campaign on the LH claims and consider it a success. Rye Patch Gold US Inc's drilling program confirms gold and silver that was identified and discovered last October and November is present on the surface and at depth on the LH claims. The drilling confirms several potential bulk-tonnage gold and silver zones that require immediate follow up and quantification," stated William C. Howald, President and CEO of Rye Patch Gold Corp.
