Rye Patch Gold Drills 25 Feet Grading 2.2 Ounces/Ton Au at Lincoln Hill
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 24, 2008) – Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT) (“Rye Patch” or the “Company”) is excited to release the assay results from the Company’s exploration drilling program on the Lincoln Hill-Gold Ridge project. The exploration program cut multi-ounce gold and silver intersections in drillhole LR-013 including 25 feet grading 2.2 ounces/ton gold from 90 to 115 feet downhole. In addition, there were numerous significant gold intervals encountered in the program. A total of 8,375 feet (2,550 metres) in 18 reverse circulation drillholes were completed. Table 1 summarizes drill interval results, using a 0.01 opt (0.34 g/t) cutoff for intervals greater than 10 feet (3 metres), for drillholes LR-001 to LR-018.
——————————————————————– —— TABLE 1: GOLD RIDGE-LINCOLN HILL PROJECT: 2008 REVERSE CIRCULATION DRILL PROGRAM ——————————————————————– ——
____________________________________Drillhole__________________Total ______________ Target______ Au______ Ag____interval____From____ To__ Depth Drillhole________Area__ oz/ton__ oz/ton________feet____feet__ Feet__ (feet) ——————————————————————– —— LR-001____ Gold Ridge____0.011____0.289__________20____ 235____255____ 600 ——————————————————————– —— LR-002____ Gold Ridge______________________________ NSV________________400 ——————————————————————– —— LR-003__ Lincoln Hill____0.040____0.213__________15____ 135____150 —————————————————————— LR-003__ Lincoln Hill____0.017____0.140__________20____ 190____210____ 350 —————————————————————— LR-003__ Lincoln Hill____0.028____0.158__________10____ 245____255 ——————————————————————– —— LR-004__ Lincoln Hill____0.012____0.050__________20____ 225____245____ 350 ——————————————————————– —— LR-005__ Lincoln Hill____0.011____0.054__________10______10____ 20____ 550 ——————————————————————– —— LR-006__ Lincoln Hill____0.018____0.115__________15______ 0____ 15 —————————————————————— LR-006__ Lincoln Hill____0.012____0.196__________30______95____125____ 550 —————————————————————— LR-006__ Lincoln Hill____0.015____0.047__________35____ 265____300 ——————————————————————– —— LR-007__ Lincoln Hill____0.012____0.378__________35______50____ 85____ 400 —————————————————————— LR-008__ Lincoln Hill____0.013____0.232__________10______95____105____ 380 ——————————————————————– —— LR-009__ Lincoln Hill____0.030____0.248__________40______45____ 85 —————————————————————— ____Including____________0.118____0.117__________ 5______60____ 65 —————————————————————— LR-009__ Lincoln Hill____0.011____0.275__________15____ 115____130 —————————————————————— LR-009__ Lincoln Hill____0.053____1.656__________45____ 150____195____ 370 —————————————————————— ____Including____________0.127____0.245__________ 5____ 150____155 —————————————————————— ____Including____________0.085____6.329__________10____ 180____190 ——————————————————————– —— LR-010__ Lincoln Hill____0.025____7.426__________30______25____ 55 —————————————————————— ____ 500 LR-010__ Lincoln Hill____0.016____1.808__________10______70____ 80 ——————————————————————– —— LR-011__ Lincoln Hill____0.010____3.121__________10____ 275____285____ 285 ——————————————————————– —— LR-012__ Lincoln Hill____0.011____0.155__________45____ 230____275____ 500 ——————————————————————– —— LR-013__ Lincoln Hill____0.792____1.000__________70______75____145 —————————————————————— ____Including____________2.200____2.400__________25______90____115 —————————————————————— ____ 525 LR-013__ Lincoln Hill____0.011____1.000__________30____ 325____355 —————————————————————— LR-013__ Lincoln Hill____0.025____1.100__________20____ 390____410 ——————————————————————– —— LR-014__ Lincoln Hill____0.033____0.699__________15______70____ 85 —————————————————————— ____ 400 LR-014__ Lincoln Hill____0.020____1.125__________15____ 130____145 ——————————————————————– —— LR-015__ Lincoln Hill______________________________ NSV________________245 ——————————————————————– —— LR-016__ Lincoln Hill______________________________ NSV________________500 ——————————————————————– —— LR-017__ Lincoln Hill____0.015____0.049__________15____ 225____240 —————————————————————— LR-017__ Lincoln Hill____0.022____0.098__________35____ 330____365 —————————————————————— LR-017__ Lincoln Hill____0.025____0.023__________10____ 455____465____ 970 —————————————————————— LR-017__ Lincoln Hill____0.029____0.830__________15____ 855____870 ——————————————————————– —— LR-018__ Lincoln Hill____0.069____0.171__________55______75____130 —————————————————————— ____Including____________0.196____0.201__________15______90____105 —————————————————————— LR-018__ Lincoln Hill____0.034____0.324__________45____ 155____200____ 500 —————————————————————— LR-018__ Lincoln Hill____0.010____0.149__________45____ 215____260 —————————————————————— LR-018__ Lincoln Hill____0.011____0.932__________30____ 295____320 ——————————————————————– —— NSV equals No Significant Values______________________TOTAL FOOTAGE__8,375
The Lincoln Hill drilling intersected significant gold and silver assays; however, several drillholes had significant silver assays that did not make the rigorous cut-off criteria of Table 1 because gold values are below the gold cut-off grade. These drillholes include LR-010 which cut 75 feet grading 3.396 opt Ag starting at 25 feet, drillhole LR-016 which intersected 3 zones – 55 feet grading 0.605 opt Ag, 45 feet grading 1.059 opt Ag, and 25 feet grading 1.152 opt Ag starting at 15, 140, and 330 feet respectively. Similar silver zones were also encountered in drillholes LR-007, LR-011 and LR-012.
Drilling completed at the adjacent pediment zone located within the Gold Ridge portion of the property indicates a potential new discovery. The pediment target intersected mineralized Tertiary fanglomerate similar to the Colado deposit at Wilco. This target has never been addressed and offers potential for a new discovery on the project. A drillhole location map is available on the company’s website at www.ryepatchgold.com.
“These are truly phenomenal results for our first drill program on the Lincoln Hill – Gold Ridge property. The new drill intercepts on the Lincoln Hill target show the gold and silver mineralization are related to northeast structures that contain significant high- grade gold and silver values. The pediment target located on the west side of the property is within a similar geologic environment as the Colado deposit located at Wilco and could prove to have significant size. With Lincoln Hill-Gold Ridge and Wilco located within 20km of each other along easy access, the potential exists for a mining district with multiple mining operations. Similar examples exist in Nevada where a single operator has several deposits within a radius of a single mill and administration. Without getting ahead of ourselves, this drilling certainly demonstrates the merits of the project, and additional work is very much warranted”, exclaimed Rye Patch’s CEO and President, William C. (Bill) Howald.
At this time drill rigs are operating at Wilco and Jessup. These programs are scheduled to be completed at the end of September. The Company will have additional drill results for Wilco and Jessup over the next 10 weeks.
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 projects.
Table 2: Rye Patch Gold’s NI43-101 Gold Resource Inventory ——————————————————————– —— RYE PATCH GOLD RESOURCES ——————————————————————– ——
______________________________________________________________tained __________________________________________________Con-______Con- ______Gold
_______________________________Gold__Silver____tained____tained____& Gold __________ Resource______Tons__Grade__ Grade______Gold____Silver____ Equiv. Property Category(1) (X 1,000)__ opt____ opt____Ounces____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.
Mr. Shea Clark-Smith is overseeing the gold assay and geochemical quality control and assurance programs for Rye Patch Gold’s drill programs at Wilco, Jessup and Lincoln Hill. He is responsible for creating, administering, and monitoring sample preparation and analytical QA/QC procedures for the drilling program. In sum, the QA/ QC procedures will provide several measures of data quality and assure the Company that the data is representative of the original sample.
Rye Patch Gold maintains a strict quality control program at all of its projects. ALS Chemex collects the Wilco, Lincoln Hill-Gold Ridge, and Jessup drill samples onsite and transports the samples directly to the ALS Chemex’s preparation and analysis 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 Nevada-focused and discovery-driven company building a sizeable inventory of gold 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 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 is seeking gold opportunities that continue to create shareholder value and leverage the gold price. The Company’s goal is to have 5- million ounces of gold inventory within the next 3 years. 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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