Rye Patch Reports 504 g/t Au From Metallic Screen Assays at Wilco
17.08.2010 | Marketwire
VANCOUVER, Aug. 17, 2010 - Rye Patch Gold Corp. (TSX VENTURE: RPM) (OTCBB: RPMGF) ("Rye Patch" or the "Company") is pleased to report the remaining assays from its spring drilling campaign on the Wilco project in Pershing County, Nevada. Using a 0.343 g/t (0.01 opt) gold cut-off grade, the following Table summarizes drill intercepts for the first six reverse circulation drillholes.TABLE 1: WILCO PROJECT: INITIAL 2010 REVERSE CIRCULATION DRILL PROGRAM
Drillhole
Target Au Ag interval From To TD
Drillhole Area g/tonne g/tonne metres metres metres (metres)
WR-101 North Basin 0.64 3.8 6.1 85.3 91.4 349.0
WR-101 North Basin 2.50 6.6 6.1 105.2 111.3
WR-101 North Basin 0.66 4.1 3.0 283.5 286.5
WR-101 North Basin 0.93 44.5 6.1 291.1 297.2
Including 1.64 84.5 3.0 292.6 295.7
WR-101 North Basin 0.61 4.2 15.2 303.3 318.5
WR-101 North Basin 1.11 2.2 3.0 333.8 336.8
WR-102 North Basin 0.36 1.8 22.9 93.0 115.8 274.3
WR-103 North Basin 0.35 2.2 6.1 65.5 71.6 251.5
WR-103 North Basin 0.35 2.6 3.0 76.2 79.2
WR-103 North Basin 0.51 5.6 12.2 80.8 93.0
WR-103 North Basin 0.41 2.1 3.0 157.0 160.0
WR-104 North Basin 0.33 8.1 3.0 65.5 68.6 304.8
WR-104 North Basin 0.43 5.5 9.1 71.6 80.8
WR-104 North Basin 0.37 5.7 3.0 89.9 93.0
WR-104 North Basin 0.63 12.2 7.6 105.2 112.8
WR-104 North Basin 0.89 5.4 3.0 190.5 193.5
WR-104 North Basin 1.18 4.9 12.2 266.7 278.9
WR-104 North Basin 0.94 1.3 3.0 289.6 292.6
WR-104 North Basin 0.43 1.4 3.0 295.7 298.7
WR-105 North Basin 0.33 7.0 3.0 82.3 85.3 373.4
WR-105 North Basin 0.50 4.7 10.7 125.0 135.6
WR-105 North Basin 0.39 3.4 6.1 146.3 152.4
WR-105 North Basin 0.73 4.7 3.0 315.5 318.5
WR-105 North Basin 0.93 11.2 32.0 336.8 368.8
Including 2.11 30.4 7.6 338.3 345.9
A review of fire assay results indicated gold particulation (coarse gold) within the sample intervals. Drillholes WR-099 and WR-105 were sent in for metallic-screen assay to determine the extent of the coarse gold. Re-assaying the high grade zone in WR-099 (see June 7, 2010 news release) returned 54.2 g/t from the coarse fraction over a 15.1 metre interval starting at 305 metres down-the-hole and includes a 1.5 metre sample that returned 504 g/t Au using a 1.0 g/t Au cut off. The metallic screen assays broadened the high-grade zone from 6.1 metres to 15.1 metres. The fine fraction returned 1.27 g/t Au over the sample interval which is associated with the disseminated gold component.
In WR-105, the interval from 336.8 meters to 350.6 metres returned an increased average gold assay of 7.32 g/t Au from the coarse fraction compared to 2.11 g/t Au reported from fire assay, and an increase in length from 7.6 metres to 13.7 metres again demonstrating the zone has coarse-grained free gold. The fine fraction returned assays averaging 1.47 g/t Au over the same 13.7 metre interval. Based on these results, the gold mineralization encountered in this drill program - drillholes WR-095 to WR-105 - will be re-assayed using metallic screen methods. Table 2 summarizes the metallic screen assay results described above.
TABLE 2: WILCO PROJECT: COMPARISON OF FIRE ASSAY AND METALLIC SCREEN RESULTS
ORIGINAL FIRE ASSAY RESULT METALLIC SCREEN RESULT
Drillhole +Fraction -Fraction Drillhole
From To Au interval From To Au Au interval
Drillhole metres metres g/tonne Metres metres metres g/tonne g/tonne Metres
WR-099 310.9 317.0 11.67 6.1 305.0 320.1 54.2 1.3 15.1
WR-105 336.8 345.9 2.11 7.6 336.8 350.6 7.3 1.5 13.7
"We are very pleased with the results of this Wilco drilling program. Our ability to predict high-grade zones and then drill them is improving, and a core program will provide more insight into the controls and distribution of the high-grade gold," noted William C. (Bill) Howald, the Company's CEO and President.
A total of 3,859 meters in eleven reverse circulation (RC) drillholes was completed in the Wilco spring drilling program. The program outlined a high-grade gold zone that measures 100 metres by 200 metres, and the gold zone is open to the west-southwest. Because the gold in this zone tends to be coarse, free gold in nature, a core program is being planned to better evaluate the structural orientation and distribution of the high grade gold.
Rye Patch Gold maintains a strict quality control program at all of its projects. Drill samples are picked up on site by American Assay's 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 over limits are determined using fire assay with a gravimetric finish. Silver is analyzed using ICP-MS with silver over limits determined using aqua-regia digestion with an ICP-AES or AAS finish.
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 and gold equivalent in the measured and indicated category plus 2,727,100 ounces of gold and 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)
Contained
Gold Silver Contained Contained Au & Au
Resource Tonnes Grade Grade Gold Silver Equivalent
Property Category (X 1,000) (g/t) (g/t) Ounces Ounces Ounces(4)
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 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 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 C. (Bill) Howald
CEO & President
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 timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, 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.
For more information, please contact
Rye Patch Gold Corp.
(604) 638-1588
(604) 638-1589 (FAX)
info@ryepatchgold.com
www.ryepatchgold.com