Rye Patch Gold

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over 11 years ago

http://www.marketwire.com/press-release/rye-patch-expands-mystic-south-packard-pediment-silver-gold-zones-identifies-new-mineralization-tsx-venture-rpm-1759665.htm

February 21, 2013 09:00 ET

Rye Patch Expands Mystic and South Packard Pediment Silver-Gold Zones and Identifies New Mineralization at West Pediment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2013) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the "Company" or "Rye Patch") is pleased to announce the results of its fall 2012 drilling program on the LH claims in Pershing County, Nevada. The drilling was highly successful and includes the following highlights:

Drilling expanded the Mystic Silver-Gold zone southward where a thick -183 metre - zone with multiple higher grade drill intersections was encountered in RMR-060;
In the South Packard Pediment, drilling extended gold and silver mineralization to the northeast, and in-fill drilling confirmed the predictability of the geologic model;
The West Pediment target returned encouraging assay results from a blind, covered north-northwest geophysical target west of the Rochester and Packard mines; and
Surface rock-chip sampling at Sunflower Hill returned gold assays averaging 10.365 g/t gold and 483.2 g/t silver.

At the Mystic zone, drilling focused on the parallel northeast structural zones. Drillhole RMR-060 was drilled south of RMR-032 and RMR-035, and confirms the Mystic area is a wide zone of parallel northeast trending quartz vein swarms. The area is partially covered with a thin veneer of alluvium making outcrops sparse. Drillhole RMR-060 drilled 183 metres grading 11.8 g/t Ageq with multiple internal zones ranging from 19.3 g/t Ageq to 29.0 g/t Ageq over 4.6 to 38.1 metres. The existing drilling covers an area roughly one kilometre by one kilometre; however, the northeast strike potential may be up to three kilometres and connect with the Sunflower Hill target.

The South Packard Pediment drilling followed up on drillholes RMR-039 to RMR-044 drilled in the spring of 2012. The fall program defined the orientation of the high-grade silver encountered in RMR-039, RMR-041 and RMR-042. Drillholes RMR-062 and RMR-063 intersected significant zones of mineralization including 72.9 g/t Ageq over 94.5 metres in RMR-062, and 20.5 g/t Ageq over 117.3 meters in RMR-063. RMR-064 closed the system to the southeast. The South Packard Pediment mineralization is approximately one kilometre in length, and the zone is open to the northeast and southwest.

The West Pediment zone is an exciting new zone identified in the ground magnetic geophysical survey. The zone extends from the Lincoln Hill Gold-Silver deposit located four kilometres to the north. The over length of the anomalous geophysical zone is over six kilometres. At Lincoln Hill, the gold and silver deposit is located along the margin of the magnetic geophysical anomaly. The anomaly trends north-northwest and five drillholes were completed on the LH claims. The drillholes returned encouraging gold and silver assays, and the zone warrants additional exploration.

At Sunflower Hill, rock-chip samples returned gold values ranging from 0.243 g/t gold to 87.39 g/t gold with an average of 10.365 g/t gold. Silver assays range from 4.4 g/t silver to 2,990 g/t silver and average 483.2 g/t silver over a 300 metre by 300 metre area. The Sunflower Hill area lies immediately adjacent to the Rochester pit along the ridge that separates Rochester Canyon from Weaver Canyon. The gold and silver values are associated with a northeast trending, strongly altered and oxidized rhyolite. The Sunflower zone is believed to connect with the Mystic zone located three kilometres to the southwest. Additional exploration work is required to confirm how the Mystic and Sunflower Hill zones connect.

The reverse-circulation drilling program was completed in late November 2012, and focused on three areas - Mystic, South Packard Pediment and West Pediment. A total of 1,939 metres (6,360 feet) of reverse-circulation drilling were completed in twelve drillholes. The results of this program are summarized in Table 1.

Table 1: LH Claims 2012 Reverse-Circulation Drillhole Assay Results
Hole ID	Target	Au g/t	Ag g/t	Aueq(1) g/t	Ageq(1) g/t	Drillhole Interval metres(2)	From metres	To metres	Total Depth metres
RMR-053	West Pediment	0.013	22.4	0.461	23.1	1.5	42.7	44.2	153.9
RMR-054	West Pediment	0.112	0.3	0.118	5.9	3.0	164.6	167.6	225.6
RMR-055	West Pediment	0.019	6.1	0.141	7.1	1.5	89.9	91.4	118.9
RMR-055	West Pediment	0.012	5.5	0.122	6.1	1.5	102.1	103.6
RMR-055	West Pediment	0.014	6.2	0.138	6.9	1.5	108.2	109.7
RMR-056	West Pediment	0.009	7.1	0.151	7.6	1.6	59.4	61.0	144.8
RMR-057	West Pediment	0.009	4.9	0.106	5.3	7.7	92.9	100.6	195.1
RMR-058	Mystic	0.008	5.8	0.124	6.2	15.2	54.9	70.1	150.9
RMR-059	Mystic	0.012	6.8	0.148	7.4	24.4	56.4	80.8	147.8
RMR-060	Mystic	0.030	10.3	0.236	11.8	182.9	33.5	216.4	225.6
Including	0.016	18.5	0.387	19.3	9.2	39.6	48.8
Including	0.061	25.9	0.580	29.0	4.6	121.9	126.5
Including	0.038	18.1	0.400	20.0	12.2	153.9	166.1
Including	0.075	20.6	0.488	24.4	38.1	178.3	216.4
RMR-061	Mystic	0.015	4.8	0.111	5.6	1.5	176.8	178.3	182.9
RMR-062	South Packard Pediment	0.175	64.2	1.458	72.9	94.5	0.0	94.5	99.1
Including	0.265	99.5	2.254	112.7	57.9	33.5	91.4
Including	0.708	240.2	5.513	275.7	18.3	45.7	64.0
RMR-063	South Packard Pediment	0.034	18.8	0.410	20.5	117.3	0.0	117.3	141.7
Including	0.095	49.5	1.085	54.3	29	82.3	111.3
Including	0.423	188.4	4.190	209.5	4.6	82.3	86.9
RMR-064	South Packard Pediment	NSV	152.4
Cutoff grade: Ageq = 5 g/t; (1) Aueq = Au + (Ag / 50) & Ageq = Ag + (Au x 50); (2) True Thickness Unknown; (NSV) No Significant Values

Rye Patch Gold US Inc. maintains a strict quality control program at all of its projects. All reverse circulation samples are submitted to American Assay with prep-blanks, assay blanks, and gold and silver standards. Rye Patch Gold US Inc. inserts approximately one quality control or quality assurance sample for every twenty samples submitted to the assay laboratory. The RC chips are logged and photographed on site. American Assay collects the samples and transports them to their preparation and 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 atomic absorption finish. Gold values above 10 g/t gold (over limits) are confirmed using fire assay with a gravimetric finish. Silver is analyzed using a two- or four-acid digestion and an AA finish. 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 verified the information contained in, and has reviewed and approved the contents of, this news release.

Rye Patch Gold US Inc. controls over 100 square kilometres (40 sq. miles) along the Oreana trend. The senior LH and OG Claims which comprises the Rochester Project consist of 413 unpatented lode mining claims which control mineral title over 30 square kilometres (approximately 7,500 acres).

The Company 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 the acquisition, exploration, and development of quality resource-based gold and silver projects. Rye Patch Gold US Inc. is developing gold and silver resources along the emerging Oreana trend, located in west-central Nevada, and is exploring 66 square kilometres along the Cortez trend near Barrick's two new gold discoveries. 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 the Company, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors

William C. (Bill) Howald, CEO & President