Rye Patch Plans Program for High-Grade Gold at Lincoln Hill Project
Vancouver, British Columbia, June 10, 2009 - Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) ("Rye Patch" or the "Company") reports it has refined the geologic model for the Lincoln Hill project over the past several months. Using the results of the surface mapping, rock-chip sampling data, and detailed geologic cross section work, the Company believes it understands the controls of the high-grade gold and silver drilled in LR-013. Based upon the geologic drill sections, there are 14 additional targets within the project that could host similar high-grade gold and silver. The high-grade targets are located within a wider and more extensive area of alteration and stockwork mineralization that represents a secondary, near-surface bulk-tonnage target..
Joe Kajszo
Chairman
Mr. Kajszo is co-founder of Rye Patch Gold. A geologist by training, Mr. Kajszo co-founded and also served as President and Director of Nevada Pacific Gold Inc. from 1997 to 2004. Prior to that Mr. Kajszo served as Vice President - Exploration for Robert Friedland's Ivanhoe Capital Corp. Ivanhoe's umbrella included a number of public companies such as Venezuela Goldfields (KM 88 in Venezuela), First Dynasty Gold (Fort Knox Mine in Alaska), Diamond Field Resources (Voiseys Bay massive sulfide deposit in Labrador), and African Minerals Corp (Platreef PGM-Cobalt deposit in South Africa). Mr. Kajszo has 26 years of experience in the mining and mineral exploration industry worldwide including direct involvement in projects in Africa, China and North and South America.
William C. (Bill) Howald
President, Chief Executive Officer and Director
Mr. Howald is a co-founder of Rye Patch Gold. Prior to joining Rye Patch, he was General Manager of Exploration, United States and Latin America, for Placer Dome Inc. During his tenure at Placer Dome, Mr. Howald was an integral part of the teams that delivered over 80Mozs of gold resources to the Placer portfolio. A number of these resources are now being mined; these include Pipeline, Turquoise Ridge, and Bald Mountain Mines in Nevada, and Puren in Chile. Others, such as Pueblo Viejo in the Dominican Republic, Donlin Creek in Alaska and Cortez Hills in Nevada, are in the feasibility stage and are heading for production decisions. Mr. Howald has 22 years in the international gold exploration and mining industry gained primarily in Nevada, Mexico, and Central and South America.
Mark T. Brown
Chief Financial Officer
Mr. Brown, a chartered accountant, is the President of Pacific Opportunity Capital Ltd., a company that advises and invests in emerging companies. He was formerly employed by PricewaterhouseCoopers, Miramar Mining Corporation and Eldorado Gold Corporation, and is a director or officer of several mineral resource companies. His broad experience includes raising equity and debt capital, negotiating acquisitions and dispositions, establishing and cooperating rapid growth companies and managing tax planning.
Charles C. Russell
Director
Mr. Russell has a Fellow Institution of Materials, Mining and Metallurgy (FIMMM) from Camborne School of Mines in Cornwall, UK. Mr. Russell has been retired from June 1996 to present. He is also an independent Director of Golden Reign Resources Ltd. Mr. Russell has 50 years of experience in the mining industry including VP Mining & Technology for Ivanhoe Capital Corp., General Manager for Ashanti Gold Fields in Ghana and General Manager for National Iron Ore Co. in Liberia.
Jonathan Challis
Director
Mr. Challis is a mining engineer with an MBA degree from Cranfield University. Within the last five years Mr. Challis has served as President, CEO and Director of Shore Gold Inc. (diamond exploration) from 1999 to December 2003; President, COO and Director of Cornerstone Capital Resources Inc. (gold exploration) from January 2004 to January 2005; and President and Director of Solex Resources Corporation (uranium exploration) from February 2005 to present. He is currently a director of Peregrine Diamonds Ltd., Crossroads Exploration, Russian Diamonds PLC, and Doubloon Exploration Corp. Mr Challis has over 30 years experience in the operation, management, financing and analysis of mining projects around the world.
Bernard Poznanski
Corporate Secretary
Mr. Poznanski has been a partner of Koffman Kalef LLP, Business Lawyers, since its inception in April 1993. Mr. Poznanski has acted as counsel for a wide variety of companies listed on the TSX, the former Canadian Venture Exchange (now the TSX Venture Exchange), the American Stock Exchange and NASDAQ. His practice areas are focused on advising mining and technology companies in connection with corporate finance and corporate/commercial matters and international projects.[/quote]
Schau mal in deines BMs nach, habe dir Ende Mai eine msg bezüglich
"Kinross Ascending Stars" zukommen lassen..
btw. Insidertransaktionen(!)
Jun 12/09 Jun 05/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 3,000 $0.270
Jun 12/09 Jun 05/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.260
May 29/09 May 29/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $0.270
May 29/09 May 29/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 4,000 $0.260
May 29/09 May 29/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.250
May 29/09 May 28/00 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 2,000 $0.260
May 29/09 May 28/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 8,000 $0.250
May 29/09 May 27/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 7,000 $0.240
May 25/09 May 14/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $0.250
May 25/09 May 14/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 4,000 $0.245
Gestern Nacht noch ein wenig über die angesprochenen Explorer- & Developer-Beteiligungen von Kinross, Goldcorp und Barrick gelesen und Infos zusammen getragen..
Eine Rye Patch Gold (RPM) ist mir da bewertungstechnisch sofort aufgefallen:
Mkt Cap oustanding: 9,091,280
Shares outstanding: 41,324,000
Ziel des MM ist es, in 36 Monaten ein zweistelliges Millionen-Oz-Deposit zu explorieren, properties befinden sich alle im sogenannten Oreana-Trend: RPM exploriert auf einer 72qkm großen Fläche im minenfreundlichen Herzen Nevadas. Barrick war hier schon vor Jahren engangiert.. http://www.ryepatchgold.com/i/maps/Oreana_Trend.pdf
Our Goal: Ten Million Ounces
Rye Patch has acquired advanced assets and explored aggressively towards its goal of a 10-million ounce gold inventory within 36 months. The company's Nevada focus arose from management's considerable knowledge of the region and Nevada's key position in world gold output. The state currently produces 78% of U.S. gold and 8% worldwide.
Management: International Senior-Level Experience
Rye Patch management, with extensive major and mid-tier experience worldwide, brings an unusual level of technical, financial and executive skills to a junior company. This outstanding group has developed and operated major mines and managed large exploration budgets on five continents.
Increasing Gold Inventory
Drill exploration at Wilco in 2008 followed up on the success of the 2007 program and produced a number of gold intersections with multiple intervals. An updated resource estimate increased inventories in the measured, indicated and inferred categories. New discoveries at Lincoln Hill/Gold Ridge and Jessup are also expected to add to our growing gold inventory.
Timing Right for New Acquisitions
Management is seeking new acquisitions in Nevada, and the timing is excellent. As market conditions decline, attractive projects are coming available on very favorable terms. With a strong cash position, Rye Patch is well positioned to capitalize on new opportunities in this rapidly-changing market.
Jetzt schaut euch mal bitte folgende resource-inventory an, die bereits erfolgreich fertiggestellt wurde:
Schöner pick!
Da gab es letztens eine Empfehlung im Midas Letter, unter den Top-Beteiligungen von Fördergigant Kinross.
Kinross Gold's Ascending Star
By James West
MidasLetter.com
Thursday, May 14, 2009
Of all the gold mining companies on earth, Kinross Gold (TSX:K, NYSE:KGC) has got to be one of the most fascinating to follow. Daring to tread where most majors recoil in fear, Kinross has demonstrated a willingness and an ability to get results in politically sensitive jurisdictions. Its boldness is rewarded, so far, by lower acquisition costs of future ounces.
Not only does the company wander into thorny countries in pursuit of gold, it also employs a program of junior mining investment and joint ventures that gives it a steady source of blue sky acquisition opportunities as the tenacious and focused juniors push their respective projects towards production.
According to the Kinross 2008 Annual Report, "Kinross has been pursuing a strategy of acquiring equity positions as a long-term partner in promising junior companies on a select basis, in order to maximize exposure to new prospects and growth opportunities at a relatively small capital investment.
Among Kinross's partnerships:
Midway Gold Corp (TSX.V:MDW, NYSE.A:MDW)
Kinross Gold Corporation (NYSE: KGC) has entered into an exploration and option to joint venture agreement by which they can earn a 75% interest in Midway's 100% owned Thunder Mountain project, in Nye County, Nevada.
To maintain the option, Kinross must spend a minimum of $500,000 by August 1, 2010 and a total of $3 million over a five year period. Upon completion of the earn-in, standard joint venture terms will apply.
Thunder Mountain is a gold and silver rich epithermal vein and disseminated system hosted in rhyolite tuffs and flow dome complexes located six miles southeast of the Midway project. Adularia alteration has affected rhyolite tuff units over the three square mile project area. Recent drilling has intercepted higher grade gold in silicified breccias hosted rhyolite tuff containing 70 feet of 0.105 ounce per ton gold beginning at a 55 foot depth (MDW Press Release dated October 18, 2007) and 40 feet of 0.135 ounce per ton gold at 70 foot depth (MDW Press Release dated May 1, 2008) along with other reported intercepts.
Underworld Resources (TSX.V:UW)
Kinross invested $1 Million in Underworld Resources in October 2008 and now holds 9.7 % of that company's outstanding shares.
Underworld's 100% controlled White Gold property in Canada's Yukon is one of the best ever for the territory, and probably the best new discovery in Canada of the last year or two. Together with the adjacent Black Fox property, approximately 100 square kilometers of terrain accessible by air, road and barge are currently being explored.
18.1 meters grading 4.35 grams per tonne gold;
17.7 meters grading 4.38 grams per tonne gold;
16 meters grading 4.2 grams per tonne gold;
16 meters grading 4.16 grams per tonne gold;
21.6 metres grading 5.6 grams per tonne gold;
14.2 meters grading 3.38 grams per tonne gold;
50.7 metres grading 3.1 grams per tonne gold.
Riverside Resources (TSX.V:RRI)
Kinross purchased 1.25 million shares of Riverside Resources in May of 2008 at $1.20 per share, representing approximately 7% of Riverside's outstanding shares.
Described as an "Exploration Alliance", Riverside CEO John-Mark Staude said, "The Exploration Alliance is a key step forward for Riverside. It is part of our strategy to not have to raise money in the near term, since we are now fully funded for the next three years' programs."
"The area covered by the Alliance is north of Mag Silver's (NYSE Alternext: MVG, TSX:MAG) Fresnillo high grade silver district, and south of Endeavour Silver's (NYSE Alternext: EXK, TSX: EDR) Guanacevi silver-gold mining district It's right in one of the sweet precious metal spots of Mexico," said Dr. Staude.
Riverside Resources operates a prospect generator business model leveraging an experienced management team, a proprietary geological database and local knowledge to identify and acquire high-quality exploration opportunities. In its first year, Riverside has acquired six properties: five located in Mexico and the Sugarloaf Peak Gold project located in Arizona, USA.
Rye Patch Gold (TSX.V:RPM)
In May of 2008 Kinross purchased 5 million shares in Rye Patch at $0.25 a share, giving it a 15% stake.
CEO Bill Howald's goal is 10 million ounces of gold. An ambitious target for most juniors, but Rye Patch is well its way. The company recently announced a 43-101 compliant resource estimate on its flagship Wilco project that puts a total of 2.35 million ounces of gold across the measured, indicated and inferred resource categories. It is currently in the process of authoring a 43-101 report for its Jessup property, and expects to generate one for the Lincoln Hill target by the end of 2009.
The company's business model is to become a provider of replacement ounces to majors in the area who are experiencing an overcapacity of production relative to diminishing reserves in the ground.
In the fourth quarter Kinross also participated in private equity placements by BCGold Corp., Oro Silver, and Victoria Gold.
Fähiges MM, PP von 2Mio wurde nahe dem Verlaufshoch durchgezogen. Cash war bis auf 600.000 USD geschmolzen, weiteres Geld wurde dringend benötigt..
Weiterer sehenswerter Schachzug, Verwässerung durch die 10Mio neuen shares ist akzeptabel..
Für 0,25CAD hat sich Kinross letztes Jahr bereits Anteile gesichert, MM saugt seit Monaten shares auf..
Unterm Strich haben sie njun ausreichend Geld um die Drills in den 3 aktiven Projekten die nächsten 9-12 Monate fortzusetzen, erwarte noch mind. ein NI-Update bis Herbst diesen Jahres. Target sind 3Mio Oz Gold..
Vancouver, British Columbia, June 23, 2009 - Rye Patch Gold Corp (TSX-V: RPM and OTC: RPMGF) ("Rye Patch" or the "Company") is pleased to announce a brokered private placement of up to 10,000,000 units (each, a "Unit") at a price of $0.20 per Unit to be marketed on a best efforts basis (the "Private Placement") by Haywood Securities Inc. (the "Agent"). Each Unit will consist of one common share of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.27 for a period of 18 months from the closing date.
The Company has agreed to pay a commission in cash equal to 7.5% of the offering proceeds and issue Agent's Warrants equal to 10% of the number of Units sold under the Private Placement. Each Agent's Warrant shall be exercisable for one Unit at a price of $0.20 for a period of 18 months from the closing date.
The net proceeds from the Private Placement will be used for exploration and development of the Company's Lincoln Hill and Wilco projects as well as for general working capital.
The shares and Warrants issued under the Private Placement and the shares issuable upon exercise of the Warrants are subject to a hold period of four months and one day following the closing date.
The Private Placement and issuance of the Agent's Warrants are subject to approval of the TSX Venture Exchange.
The securities issued by the Company have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
Schon vor einigen Monaten hier neben RPM erwähnt und empfohlen.
Die letzten Wochen mit weiteren exzellenten news, die beiden Topbeteiligungen von Kinross bauen in einem atemberaubendem Tempo ihre Reserven+Resourcenbasis im Herzen Nevadas aus..
RPM & MDW spielen zudem in der gleichen area, könnte für nette takeover-Spekulationen sorgen!
Hier wächst eine verdammt heiße Story heran..
7/7/2009 5:55:52 PM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jul 7, 2009 (Marketwire via COMTEX News Network) --
Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT)(OTCBB:RPMGF) announces the following Webcast:
What: Corporate Presentation When: July 8, 2009 @ 1:00 PM Eastern Where: www.investorcalendar.com/ClientPage.asp?ID=146558 How: Live over the Internet - Simply log on to the web at the address above.
How many companies can you point to who do what they say they're going to do almost to the letter? Few and far between, as we all know, but in the case of Rye Patch Gold (TSX.V:RPM), it's company policy.
When MidasLetter.com last interviewed Rye Patch CEO Bill Howald, he said the company was building a resource with a target size of 10 million ounces of gold, all within Nevada. At that time, the company's total combined resources was under 2 million ounces gold equivalent, and since then, the company has released an updated 43-101 on the Wilco Project and a new 43-101 on the Jessup Property. The company now has an inventory of nearly 3 million ounces of gold across all categories and 31 million ounces of silver.
"We're still really excited about the Wilco project, especially in an area we call the North Basin," said Howald. "It's a covered circular basin, and we've been mapping and sampling around the edges where we've been getting gold values of between a half gram per tonne up to 5 grams per tonne at the surface in what appears to be oxide mineralization, and its starting to fit with our geologic model of where the gold actually sits in our drillholes."
"We believe we can connect the gold at the surface that we're seeing in the north part of the basin with some of the last holes drilled in our 2008 program, like hole WR-087, which was almost 40 metres of 2.6 grams per tonne. The distance between the surface gold showings and drillhole WR-087 is roughly 750 metres. So we think we can add significantly to the Wilco resource at the North Basin target. We're in the process of permitting for additional drill locations at Wilco, and our plan is to start drilling there again by mid to late August," he said.
The Wilco claims are located in north-central Nevada, approximately 100 miles northeast of Reno near the Colado-Coal Canyon exit on the Interstate 80 freeway. The town of Lovelock (pop. 2000) lies only six miles south. The property is readily accessed by I-80 and the Coal Canyon road which transects the property. Various dirt roads and tracks provide additional access.
Rye Patch is earning a 100% interest in the Wilco project from Newmont Mining (NYSE:NEM) by spending $3 million in exploration and development on the project by December 2010. Newmont can also elect to regain up to a 70% interest in the project by spending an additional $20 million in development work.
Rye Patch's other area of primary interest is its Lincoln Hill Project in Humboldt County.
According to Bill Howald:
"The other area we're quite excited about is at Lincoln Hill, where our 2008 program had drill holes that hit some very high gold grades, such as hole 13, which returned 21 metres of 27 grams per tonne with an internal zone of about 8 metres of 75 grams Au per tonne. We've been out mapping and trying to understand what the controls are in the high grade and we've identified 14 areas in surface sampling that appear to have additional potential for high grade within a larger zone of halo gold and silver mineralization. We've received high-grade gold values from surface sampling ranging between 5 grams per tonne and 60 grams per tonne. These are from channel samples varying in width from 1 m to 4 metres in length. The high grade zones lie within a more extensive halo zone that starts at the surface and has a drill thickness ranging between 15 and 75 metres. Average gold and gold equivalent grades are in the 1 gram per tone range."
Rye Patch drilled 2,550 metres in 18 reverse circulation holes on both the Lincoln Hill and Gold Ridge targets in 2008, cutting a multi-ounce gold and silver intersection in hole LR-013. The results included 25 feet grading 2.2 ounces of gold per ton (7.63 metres grading 75.4 grams per tonne) of gold starting at 90 feet (27 metres) down hole.
"What we're starting to recognize at Wilco and Lincoln Hill and Spring Valley is some similarities between the style of mineralization and some of the higher grades, and the controls on those higher grades," Howald explained. "If you look at the map, there's an area about 30 kilometres long by about 5 kilometres wide, and over the last several months, there's been almost 5 million new ounces of gold announced on that trend, and that's what we're calling the Oreana trend.
"We get a call every so often from Barrick Gold (NYSE:ABX) regarding Lincoln Hill. They're our neighbour next door in a joint venture with Midway Gold, (TSX.V:MDW) and we're immediately adjacent to that, so there is some interest there."
The company also issued a 43-101 compliant resource estimate on its Jessup property last month, where gold and silver are open at depth and along strike to the northwest and northeast. The mineralized structures have elevated grades and are open along strike to the northwest and at depth. These oxide targets and extensions have been prioritized for follow up drilling.
"We completed and updated 43-101 report and doubled the resource there from just over 200,000 ounces to 450,000 ounces," said Howald. "Its still open in several directions, and we're starting to see how the breccias are controlling higher grade gold and silver which is giving us some interesting targets for follow up. We still feel there is quite a bit of upside potential at Jessup. However, we think our highest grades are going to come out of Lincoln Hill and Wilco, so we're concentrating on those projects at this point."
Rye Patch's progress towards a 10 million ounce resource is certainly ambitious, but given the progress made in just the few months since we spoke to them, does not seem at all unreasonable.
"We now have about 2.7 million ounces of gold, and 31 million ounces of silver," said Howald. "We're in the midst of completing our financing, raising upwards of 2 million, the proceeds from which will be directed towards those two projects (Lincoln Hill and Wilco)".
"If you just look at our drilling to date and our expenditures, you'll see we're finding gold at a cost of about a dollar an ounce, and within the 43-101 categories, we're finding gold at about $3.50 per ounce, so in view of the upcoming $2 million program, you can do the math and see how we can envision coming up with another couple of million ounces."
"We're sitting at approximately three million ounces now, and if our vision is accurate for this drill program, we could be sitting at closer to 5 million ounces by the end of this year."
Rye Patch Plans Program for High-Grade Gold at Lincoln Hill Project
Vancouver, British Columbia, June 10, 2009 - Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) ("Rye Patch" or the "Company") reports it has refined the geologic model for the Lincoln Hill project over the past several months. Using the results of the surface mapping, rock-chip sampling data, and detailed geologic cross section work, the Company believes it understands the controls of the high-grade gold and silver drilled in LR-013. Based upon the geologic drill sections, there are 14 additional targets within the project that could host similar high-grade gold and silver. The high-grade targets are located within a wider and more extensive area of alteration and stockwork mineralization that represents a secondary, near-surface bulk-tonnage target..
Joe Kajszo
Chairman
Mr. Kajszo is co-founder of Rye Patch Gold. A geologist by training, Mr. Kajszo co-founded and also served as President and Director of Nevada Pacific Gold Inc. from 1997 to 2004. Prior to that Mr. Kajszo served as Vice President - Exploration for Robert Friedland's Ivanhoe Capital Corp. Ivanhoe's umbrella included a number of public companies such as Venezuela Goldfields (KM 88 in Venezuela), First Dynasty Gold (Fort Knox Mine in Alaska), Diamond Field Resources (Voiseys Bay massive sulfide deposit in Labrador), and African Minerals Corp (Platreef PGM-Cobalt deposit in South Africa). Mr. Kajszo has 26 years of experience in the mining and mineral exploration industry worldwide including direct involvement in projects in Africa, China and North and South America.
William C. (Bill) Howald
President, Chief Executive Officer and Director
Mr. Howald is a co-founder of Rye Patch Gold. Prior to joining Rye Patch, he was General Manager of Exploration, United States and Latin America, for Placer Dome Inc. During his tenure at Placer Dome, Mr. Howald was an integral part of the teams that delivered over 80Mozs of gold resources to the Placer portfolio. A number of these resources are now being mined; these include Pipeline, Turquoise Ridge, and Bald Mountain Mines in Nevada, and Puren in Chile. Others, such as Pueblo Viejo in the Dominican Republic, Donlin Creek in Alaska and Cortez Hills in Nevada, are in the feasibility stage and are heading for production decisions. Mr. Howald has 22 years in the international gold exploration and mining industry gained primarily in Nevada, Mexico, and Central and South America.
Mark T. Brown
Chief Financial Officer
Mr. Brown, a chartered accountant, is the President of Pacific Opportunity Capital Ltd., a company that advises and invests in emerging companies. He was formerly employed by PricewaterhouseCoopers, Miramar Mining Corporation and Eldorado Gold Corporation, and is a director or officer of several mineral resource companies. His broad experience includes raising equity and debt capital, negotiating acquisitions and dispositions, establishing and cooperating rapid growth companies and managing tax planning.
Charles C. Russell
Director
Mr. Russell has a Fellow Institution of Materials, Mining and Metallurgy (FIMMM) from Camborne School of Mines in Cornwall, UK. Mr. Russell has been retired from June 1996 to present. He is also an independent Director of Golden Reign Resources Ltd. Mr. Russell has 50 years of experience in the mining industry including VP Mining & Technology for Ivanhoe Capital Corp., General Manager for Ashanti Gold Fields in Ghana and General Manager for National Iron Ore Co. in Liberia.
Jonathan Challis
Director
Mr. Challis is a mining engineer with an MBA degree from Cranfield University. Within the last five years Mr. Challis has served as President, CEO and Director of Shore Gold Inc. (diamond exploration) from 1999 to December 2003; President, COO and Director of Cornerstone Capital Resources Inc. (gold exploration) from January 2004 to January 2005; and President and Director of Solex Resources Corporation (uranium exploration) from February 2005 to present. He is currently a director of Peregrine Diamonds Ltd., Crossroads Exploration, Russian Diamonds PLC, and Doubloon Exploration Corp. Mr Challis has over 30 years experience in the operation, management, financing and analysis of mining projects around the world.
Bernard Poznanski
Corporate Secretary
Mr. Poznanski has been a partner of Koffman Kalef LLP, Business Lawyers, since its inception in April 1993. Mr. Poznanski has acted as counsel for a wide variety of companies listed on the TSX, the former Canadian Venture Exchange (now the TSX Venture Exchange), the American Stock Exchange and NASDAQ. His practice areas are focused on advising mining and technology companies in connection with corporate finance and corporate/commercial matters and international projects.
Schau mal in deines BMs nach, habe dir Ende Mai eine msg bezüglich
"Kinross Ascending Stars" zukommen lassen..
btw. Insidertransaktionen(!)
Jun 12/09 Jun 05/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 3,000 $0.270
Jun 12/09 Jun 05/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.260
May 29/09 May 29/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $0.270
May 29/09 May 29/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 4,000 $0.260
May 29/09 May 29/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.250
May 29/09 May 28/00 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 2,000 $0.260
May 29/09 May 28/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 8,000 $0.250
May 29/09 May 27/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 7,000 $0.240
May 25/09 May 14/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 1,000 $0.250
May 25/09 May 14/09 Kajszo, Joe Direct Ownership Common Shares 10 - Acquisition in the public market 4,000 $0.245
Gestern Nacht noch ein wenig über die angesprochenen Explorer- & Developer-Beteiligungen von Kinross, Goldcorp und Barrick gelesen und Infos zusammen getragen..
Eine Rye Patch Gold (RPM) ist mir da bewertungstechnisch sofort aufgefallen:
Mkt Cap oustanding: 9,091,280
Shares outstanding: 41,324,000
Ziel des MM ist es, in 36 Monaten ein zweistelliges Millionen-Oz-Deposit zu explorieren, properties befinden sich alle im sogenannten Oreana-Trend: RPM exploriert auf einer 72qkm großen Fläche im minenfreundlichen Herzen Nevadas. Barrick war hier schon vor Jahren engangiert.. http://www.ryepatchgold.com/i/maps/Oreana_Trend.pdf
Our Goal: Ten Million Ounces
Rye Patch has acquired advanced assets and explored aggressively towards its goal of a 10-million ounce gold inventory within 36 months. The company's Nevada focus arose from management's considerable knowledge of the region and Nevada's key position in world gold output. The state currently produces 78% of U.S. gold and 8% worldwide.
Management: International Senior-Level Experience
Rye Patch management, with extensive major and mid-tier experience worldwide, brings an unusual level of technical, financial and executive skills to a junior company. This outstanding group has developed and operated major mines and managed large exploration budgets on five continents.
Increasing Gold Inventory
Drill exploration at Wilco in 2008 followed up on the success of the 2007 program and produced a number of gold intersections with multiple intervals. An updated resource estimate increased inventories in the measured, indicated and inferred categories. New discoveries at Lincoln Hill/Gold Ridge and Jessup are also expected to add to our growing gold inventory.
Timing Right for New Acquisitions
Management is seeking new acquisitions in Nevada, and the timing is excellent. As market conditions decline, attractive projects are coming available on very favorable terms. With a strong cash position, Rye Patch is well positioned to capitalize on new opportunities in this rapidly-changing market.
Jetzt schaut euch mal bitte folgende resource-inventory an, die bereits erfolgreich fertiggestellt wurde:
Schöner pick!
Da gab es letztens eine Empfehlung im Midas Letter, unter den Top-Beteiligungen von Fördergigant Kinross.
Kinross Gold's Ascending Star
By James West
MidasLetter.com
Thursday, May 14, 2009
Of all the gold mining companies on earth, Kinross Gold (TSX:K, NYSE:KGC) has got to be one of the most fascinating to follow. Daring to tread where most majors recoil in fear, Kinross has demonstrated a willingness and an ability to get results in politically sensitive jurisdictions. Its boldness is rewarded, so far, by lower acquisition costs of future ounces.
Not only does the company wander into thorny countries in pursuit of gold, it also employs a program of junior mining investment and joint ventures that gives it a steady source of blue sky acquisition opportunities as the tenacious and focused juniors push their respective projects towards production.
According to the Kinross 2008 Annual Report, "Kinross has been pursuing a strategy of acquiring equity positions as a long-term partner in promising junior companies on a select basis, in order to maximize exposure to new prospects and growth opportunities at a relatively small capital investment.
Among Kinross's partnerships:
Midway Gold Corp (TSX.V:MDW, NYSE.A:MDW)
Kinross Gold Corporation (NYSE: KGC) has entered into an exploration and option to joint venture agreement by which they can earn a 75% interest in Midway's 100% owned Thunder Mountain project, in Nye County, Nevada.
To maintain the option, Kinross must spend a minimum of $500,000 by August 1, 2010 and a total of $3 million over a five year period. Upon completion of the earn-in, standard joint venture terms will apply.
Thunder Mountain is a gold and silver rich epithermal vein and disseminated system hosted in rhyolite tuffs and flow dome complexes located six miles southeast of the Midway project. Adularia alteration has affected rhyolite tuff units over the three square mile project area. Recent drilling has intercepted higher grade gold in silicified breccias hosted rhyolite tuff containing 70 feet of 0.105 ounce per ton gold beginning at a 55 foot depth (MDW Press Release dated October 18, 2007) and 40 feet of 0.135 ounce per ton gold at 70 foot depth (MDW Press Release dated May 1, 2008) along with other reported intercepts.
Underworld Resources (TSX.V:UW)
Kinross invested $1 Million in Underworld Resources in October 2008 and now holds 9.7 % of that company's outstanding shares.
Underworld's 100% controlled White Gold property in Canada's Yukon is one of the best ever for the territory, and probably the best new discovery in Canada of the last year or two. Together with the adjacent Black Fox property, approximately 100 square kilometers of terrain accessible by air, road and barge are currently being explored.
18.1 meters grading 4.35 grams per tonne gold;
17.7 meters grading 4.38 grams per tonne gold;
16 meters grading 4.2 grams per tonne gold;
16 meters grading 4.16 grams per tonne gold;
21.6 metres grading 5.6 grams per tonne gold;
14.2 meters grading 3.38 grams per tonne gold;
50.7 metres grading 3.1 grams per tonne gold.
Riverside Resources (TSX.V:RRI)
Kinross purchased 1.25 million shares of Riverside Resources in May of 2008 at $1.20 per share, representing approximately 7% of Riverside's outstanding shares.
Described as an "Exploration Alliance", Riverside CEO John-Mark Staude said, "The Exploration Alliance is a key step forward for Riverside. It is part of our strategy to not have to raise money in the near term, since we are now fully funded for the next three years' programs."
"The area covered by the Alliance is north of Mag Silver's (NYSE Alternext: MVG, TSX:MAG) Fresnillo high grade silver district, and south of Endeavour Silver's (NYSE Alternext: EXK, TSX: EDR) Guanacevi silver-gold mining district It's right in one of the sweet precious metal spots of Mexico," said Dr. Staude.
Riverside Resources operates a prospect generator business model leveraging an experienced management team, a proprietary geological database and local knowledge to identify and acquire high-quality exploration opportunities. In its first year, Riverside has acquired six properties: five located in Mexico and the Sugarloaf Peak Gold project located in Arizona, USA.
Rye Patch Gold (TSX.V:RPM)
In May of 2008 Kinross purchased 5 million shares in Rye Patch at $0.25 a share, giving it a 15% stake.
CEO Bill Howald's goal is 10 million ounces of gold. An ambitious target for most juniors, but Rye Patch is well its way. The company recently announced a 43-101 compliant resource estimate on its flagship Wilco project that puts a total of 2.35 million ounces of gold across the measured, indicated and inferred resource categories. It is currently in the process of authoring a 43-101 report for its Jessup property, and expects to generate one for the Lincoln Hill target by the end of 2009.
The company's business model is to become a provider of replacement ounces to majors in the area who are experiencing an overcapacity of production relative to diminishing reserves in the ground.
In the fourth quarter Kinross also participated in private equity placements by BCGold Corp., Oro Silver, and Victoria Gold.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2009) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT)(OTCBB:RPMGF) ("Rye Patch" or the "Company") announces an increase in its non-brokered private placement (the "Private Placement") by up to an additional 7 million units for a total offering of up to 21 million units at $0.15 per unit for gross proceeds of up to $3,150,000. The Private Placement was previously announced on July 23, 2009.
The Private Placement is subject to the approval of the TSX Venture Exchange.
The net proceeds from the Private Placement will be used for exploration and development of the Company's projects, for acquisitions and for working capital.
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 & Presidentgemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
58 Mio. common shares + 95 Mio. fully diluted befinden sich in Händen der Insider + Management
Current RPM share structure: About 89m Outstanding, 156m Fully Diluted after last PP.
I can account for about 58m Common and 95m fully diluted held by insiders/funds.
Considering the Funds I can't account for, not to mention private investors like us, this stock may be very illiquid right now.
Insider holdings:
Mark Brown (CFO): 72,500 Common; 235,000 options
Jonathon Challis (Director): 275,000 options
Ernesto Echavarria (Private Investor): 8,633,333 Common; 7,633,333 Warrants
Bill Howald (CEO): 1,829,500 Common; 850,000 Options
Joe Kajsco (Chairman): 2,864,500 Common; 800,000 Options; 625,000 Warrants Kinross Gold: 8,916,667 Common; 2,916,667 Warrants
Bernard Poznanski (Director): 75,000 Options
Charles Russell (Director): 250,000 Options Sun Valley Gold, LLC (Palmedo): 9,916,667 Common; 9,291,667 Warrants
Sun Valley Gold Master Fund, Ltd (Palmedo): 9,916,667 Common: 9,291,667 Warrants
Institutionally:
Sentry Select Capital Inc.: At least 1 fund has perhaps 5,350,000 shares. Collectively, Sentry manages 7,950,000 Common, probably the same in 7,950,0000 Warrants.
Passport Capital: We know that they had about 5,000,000 Common as of April, not sure about warrants
Pinetree Capital: Has 3,009,500 Common; 1,500,000 Warrants.
Ascenta International Holdings: As of December, RPM was the 3rd largest holding in their "Ascenta Special Situations Resource Fund," at 4.84% of unknown fund value. http://www.ascentainternational.com/i/pdf/FundFactDec.Final.pdf By the way, Haywood is the manager of this fund. Jim Mustard is on the advisory committee. Hmmm, SS are you following this guy wherever he goes?
BakerSteel Capital: Undisclosed amount, has stated publicly that they really like RPM http://www.edito-matieres-premieres..../bakersteel-randgold.html
Rye Patch Gold Corp. Executes Definitive Agreement With Centerra Gold (U.S.) Inc. for Acquisition of Interest in Ren Joint Venture
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2010) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") is pleased to announce that it has entered into a binding definitive agreement (the "Agreement") with Centerra Gold (U.S.) Inc. ("Centerra"), a subsidiary of Centerra Gold Inc., for the acquisition of Centerra's participating interest (currently 63.96%) in the Ren property which is the subject of a joint venture (the "Ren JV") between Homestake Mining Company of California Inc. ("Homestake") and Centerra. Completion of the acquisition is subject to a waiver of a pre-emptive right in favour of Homestake which must be exercised by Homestake within 60 days of notification by Centerra, and is subject to final acceptance of the TSX Venture Exchange.
The Ren property consists of 91 contiguous unpatented lode mining claims covering 7.4 square kilometres of the Northern Carlin trend which are under lease to the Ren JV. The southern boundary of the property adjoins Barrick Gold's Goldstrike property. On the Goldstrike property, Barrick is currently mining from the Meikle mine and is developing the Banshee deposits, located approximately 250 metres south of the Ren property. The Nevada Bureau of Mines and Geology (NBMG) compiled and published geologic mapping that shows the Meikle/Banshee geology and structural settings continue onto the Ren property. Using the REN drillhole database, Rye Patch has completed geologic cross sections confirming the NBMG interpretation.
The Company has completed a National Instrument 43-101 ("NI 43-101") compliant resource estimate on the REN property as of the date hereof. The results of the estimate are summarized in Table 1. The corresponding technical report will be filed on SEDAR within 45 days of this news release.
Table 1: REN Project Resource Estimate (February 2010)
Cut Off Grade Category Tonnes x 1,000 Au Grade (g/t) Au Contained Ounces Rye Patch's Share (63.96%) Gold Ounces
5 g/t Au Indicated 4,541 10.29 1,656,000 1,059,177
Inferred 1,135 12.94 520,000 332,592
The gold resource estimate is based on 3-D geologic model that incorporated over 645 individual gold assays, of 5 g/t Au or greater, from 395 drillholes. Holes were established by Reverse Circulation (RC) drilling to the mineralized rock, then completed by drilling out the mineralization with core drilling. Block model grades were interpolated from over 585 five foot down-the-hole composites, that had grades of 5 g/t Au or greater, using Inverse Distance Squared (ID2) estimation techniques. Assays that are greater than 70 g/t Au were capped at 70 g/t Au. SEWC is not aware of any known environmental, permitting, legal, title, taxation, socio-economic, marketing or other relevant issues that could potentially affect this estimate of mineral resources. The mineral resources may be affected by subsequent assessments of mining, environmental, processing, permitting, taxation, socio-economic and other factors.
Rye Patch is prioritizing a number of targets for exploration on the Ren property for drilling in the spring of 2010. The most obvious targets are within the southern portion of the Ren property along the extension of the north-northwest trending Post fault system which is the same geologic environment as Barrick's Meikle underground mine. These targets are within 400 metres of the surface and offer additional upside to the known REN resource.
In the known resource, the JB Zone, has expansion potential. The deposit is open to the north, northwest and south. Additional work is warranted to follow up high-grade intercepts such as the 69 zone (RU-69-W2 which returned 13.7 g/t Au over 28.2 metres at a 5 g/t Au cut off) where open-ended, high-grade gold mineralization requires follow up.
"The Ren acquisition will represent a milestone in the Company's goals for building a quality inventory of gold and silver resources in Nevada. This transformational event will elevate Rye Patch to a new level by becoming the only junior mining company controlling over one million ounces of gold on the Carlin trend. In addition, the project contains multiple targets with potential for resource expansion and is located on one of the most prolific gold belts in the world.
The close proximity to infrastructure and a strong operating partner in Homestake/Barrick provide for excellent value to Rye Patch's shareholders. At an acquisition cost of approximately US$30 per ounce of existing resource, completion of the Ren acquisition will be highly accretive to the Company," declared William C. (Bill) Howald, the Company's President and CEO.
The foregoing resource estimate was prepared by Scott Wilson, C.P.G., of Scott E. Wilson Consulting, Inc. ("SEWC"). Mr. Wilson is the "qualified person" as defined under NI 43-101 who is responsible for, and approves of, the technical disclosure in this news release. Mr. Wilson and SEWC are independent of the Company.
Pursuant to the Agreement, the Company will acquire all of Centerra's interest in the Ren JV (comprised of a 63.96% participating interest) for the total purchase price (the "Purchase Price") of US$42,000,000 payable in the following manner:
US$2,000,000 on the date (the "First Payment Date") that is no later than two business days after obtaining TSX Venture Exchange acceptance of Rye Patch's acquisition of Centerra's interest and Homestake declining to exercise its pre-emptive rights to acquire Centerra's interest under the Ren joint venture agreement (the "Ren JV Agreement");
US$10,000,000 on or before the second anniversary of the First Payment Date, or, at its election, the Company may issue that number of common shares of the Company with an aggregate value of US$5,000,000 or less and pay the balance of the US$10,000,000 to Centerra in cash; and
US$30,000,000 on or before the second anniversary of the First Payment Date, or, at its election, the Company may issue that number of common shares of the Company with an aggregate value of US$15,000,000 or less and pay the balance of the US$30,000,000 to Centerra in cash.
Effective the First Payment Date, the Company will perform all of Centerra's obligations under the Ren JV Agreement, including acting as manager. When the Purchase Price has been paid in full, Centerra will transfer its participating interest in the Ren JV to the Company's subsidiary, Rye Patch Gold US Inc.
There are three underlying royalties on the REN property. The first relates to the VEK/Andrus lease which is subject to a 3% net smelter return (NSR) production royalty and covers the eighty-two REN and four UREN claims. The VEK/Andrus lease requires annual advance royalty payments of US$225,000 plus a producer price index (PPI) adjustment based on the March 1987 PPI. In March 2009, the advance royalty payment was US$400,148.37.
The second royalty relates to the Weise lease which is subject to a 4% gross proceeds royalty on the five WS claims, with annual advance royalty payments payable in amounts that vary with the gold price (US$50,000 is payable annually where the gold price is in excess of US$400 per ounce). All advance payments are recoverable from royalties payable after the commencement of production. The Weise lease is subject to a minimum annual royalty of $50,000 once production commences. At a gold price of $350 per ounce or higher, there is an annual work obligation of $10,000 for the WS claims.
The third royalty is the Wallace 3.5% net profits interest (NPI) which applies to the REN and UREN claims and which converts to 3.5% of net sale proceeds if the property is sold to a third party (mergers and transfers to affiliated companies are exempt from the conversion).
About Rye Patch Gold
Rye Patch Gold Corp. 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 acquisition, exploration and development of quality resource-based gold and silver projects. Rye Patch Gold is developing its primary assets – the advanced-stage Wilco project, Lincoln Hill and located within 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.
Lindsay Malcolm
Manager Corporate Development
(604) 638-1588 ext 206
(604) 638-1589 (FAX) lindsay@ryepatchgold.com www.ryepatchgold.com
Click here to see all recent news from this company
Rye Patch has acquired advanced assets and explored aggressively towards its goal of a 10-million ounce gold inventory within 36 months. The company’s Nevada focus arose from management’s considerable knowledge of the region and Nevada’s key position in world gold output. The state currently produces 78% of U.S. gold and 8% worldwide.
Management is seeking new acquisitions in Nevada, and the timing is excellent. As market conditions decline, attractive projects are coming available on very favorable terms to make Rye Patch well positioned to capitalize on new opportunities in this rapidly-changing market.
Property Summaries Wilco Project
Exploring under an option agreement with Newmont Mining, Rye Patch has defined two key gold zones with resources to date of 625,500 ounces measured and indicated and 1,124,700 ounces inferred. The company has completed more than 19,000 metres of reverse circulation drilling and 900 metres of core drilling planned in 2009 to upgrade and expand the resource.
The Newmont Agreement
Rye Patch can earn a 100% interest in the Wilco project from Newmont Mining by spending $3 million in exploration and development on the project by December 2010. Newmont can also elect to regain up to a 70% interest in the project by spending an additional $20 million in development work.
At Wilco, a 2009 drill program is focusing on a potential high-grade gold feeder system within the North Basin target. The last drillhole from the 2008 campaign, WR-087, returned the thickest and highest grade gold zone on the property - 38.1m @ 2.61 g/t Au. The North Basin has gold shows around the margin of its 1 kilometre diameter dimension, and geophysics shows a magnetic low (magnetite alteration) located under the centre of the basin. The drill program is budgeted at US$320,000.
Lincoln Hill/Gold Ridge Project
The Lincoln Hill and adjacent Gold Ridge properties securely position Rye Patch along the Humboldt gold trend and Rochester mining district of Western Nevada. The Lincoln Hill area has supported active exploration for nearly 150 years, and underground mining in the early 1900s reportedly averaged 7.5 ounces of gold per ton. Most of this work occurred along a 7,000-foot strike length where mine tailings and numerous dumps are found today. Significant visible gold is evident, as well.
Rye Patch drilled 2,550 meters in 18 RC holes on both the Lincoln Hill and Gold Ridge targets in 2008, cutting a multi-ounce gold and silver intersection in hole LR-013. The results included 25 feet grading 2.2 ounces of gold per ton starting at 90 feet down hole. In addition, there were numerous significant gold intervals encountered in the program. A second drill program is underway to follow up on LR-013 results. The program will test the high-grade breccias zone along strike and down dip.
Core and RC drilling show the main Lincoln Hill target contains significant high-grade gold and silver along northeast trending structures within the broader quartz stockwork halo zone. The core shows the broader stockwork mineralization has a high-angle as well as a horizontal or bedding controlled component. LRC-002 intersected veins and veinlets and shows visible gold in several veins over the 15.8 metre zone. The vein arrays are hosted within a thicker zone of altered, silicified rhyolite volcanic rocks. The intersection of the favorable units within altered rhyolite and northeast structures appear to control high-grade gold and silver distribution within the stockwork gold zone. LRC-003 shows the disseminated nature of the stockwork zone with 33.1 metres grading 1.10 g/t gold.
A first ever NI43-101 resource estimate will be completed on the Lincoln Hill project once all assays have been received and integrated into the drillhole database. The Company believes that Lincoln Hill will become our third gold resource and will add to Rye Patch’s inventory of gold in Nevada.
Management
* Joe Kajszo - Chairman. Mr. Kajszo is co-founder of Rye Patch Gold. A geologist by training, Mr. Kajszo co-founded and also served as President and Director of Nevada Pacific Gold Inc. from 1997 to 2004. Prior to that Mr. Kajszo served as Vice President - Exploration for Robert Friedland’s Ivanhoe Capital Corp. Ivanhoe’s umbrella included a number of public companies such as Venezuela Goldfields (KM 88 in Venezuela), First Dynasty Gold (Fort Knox Mine in Alaska), Diamond Field Resources (Voiseys Bay massive sulfide deposit in Labrador), and African Minerals Corp (Platreef PGM-Cobalt deposit in South Africa). Mr. Kajszo has 26 years of experience in the mining and mineral exploration industry worldwide including direct involvement in projects in Africa, China and North and South America.
* William C. (Bill) Howald - President, Chief Executive Officer and Director. Mr. Howald is a co-founder of Rye Patch Gold. Prior to joining Rye Patch, he was General Manager of Exploration, United States and Latin America, for Placer Dome Inc. During his tenure at Placer Dome, Mr. Howald was an integral part of the teams that delivered over 80Mozs of gold resources to the Placer portfolio. A number of these resources are now being mined; these include Pipeline, Turquoise Ridge, and Bald Mountain Mines in Nevada, and Puren in Chile. Others, such as Pueblo Viejo in the Dominican Republic, Donlin Creek in Alaska and Cortez Hills in Nevada, are in the feasibility stage and are heading for production decisions. Mr. Howald has 22 years in the international gold exploration and mining industry gained primarily in Nevada, Mexico, and Central and South America.
* Mark T. Brown - Chief Financial Officer. Mr. Brown, a chartered accountant, is the President of Pacific Opportunity Capital Ltd., a company that advises and invests in emerging companies. He was formerly employed by PricewaterhouseCoopers, Miramar Mining Corporation and Eldorado Gold Corporation, and is a director or officer of several mineral resource companies. His broad experience includes raising equity and debt capital, negotiating acquisitions and dispositions, establishing and cooperating rapid growth companies and managing tax planning.
* Charles C. Russell - Director. Mr. Russell has a Fellow Institution of Materials, Mining and Metallurgy (FIMMM) from Camborne School of Mines in Cornwall, UK. Mr. Russell has been retired from June 1996 to present. He is also an independent Director of Golden Reign Resources Ltd. Mr. Russell has 50 years of experience in the mining industry including VP Mining & Technology for Ivanhoe Capital Corp., General Manager for Ashanti Gold Fields in Ghana and General Manager for National Iron Ore Co. in Liberia.
* Jonathan Challis - Director. Mr. Challis is a mining engineer with an MBA degree from Cranfield University. Within the last five years Mr. Challis has served as President, CEO and Director of Shore Gold Inc. (diamond exploration) from 1999 to December 2003; President, COO and Director of Cornerstone Capital Resources Inc. (gold exploration) from January 2004 to January 2005; and President and Director of Solex Resources Corporation (uranium exploration) from February 2005 to present. He is currently a director of Peregrine Diamonds Ltd., Crossroads Exploration, Russian Diamonds PLC, and Doubloon Exploration Corp. Mr Challis has over 30 years experience in the operation, management, financing and analysis of mining projects around the world.
* Bernard Poznanski - Corporate Secretary. Mr. Poznanski has been a partner of Koffman Kalef LLP, Business Lawyers, since its inception in April 1993. Mr. Poznanski has acted as counsel for a wide variety of companies listed on the TSX, the former Canadian Venture Exchange (now the TSX Venture Exchange), the American Stock Exchange and NASDAQ. His practice areas are focused on advising mining and technology companies in connection with corporate finance and corporate/commercial matters and international projects.
Jep, die haben derzeit 3,5 Mio. Unzen aus zwei Deposits. NI-Report kommt für ihr drittes Projekt.
Mit der Akqusition von 64% des Ren Projekts von Centerra Gold, würde RPM insgesamt auf eine Ressource von 4,9 Mio. Unzen
Gold kommen.
Ressource ohne Ren: 3,5 Mio. Unzen
Ressource mit Ren: 4,9 Mio. Unzen
Market Cap derzeit 23 Mio. CAD
Klar kann man jetzt diskutieren ob der Kaufpreis für die 64% von Ren (entspricht zusätzlichen 1,4 Mio. Unzen) mit 42 Mio. USD ok oder zu hoch ist.
Man sollte bedenken, dass Ren auch noch Upside Potential hat und die 1,4 Mio. Unzen sicher nicht das Ende der Fahnenstange sind.
Barrick Gold arbeitet 250m (!!!) südlich davon entfernt.
Barrick is currently mining from the Meikle mine and is developing the Banshee deposits, located approximately 250 metres
south of the Ren property.The Meikle/Banshee geology and structural settings continues onto the Ren property.
Könnte sich also letztendlich noch als Sahnestück herausstellen. Die Lage ist schon mal nicht zu verachten, und die Grades erst
recht nicht!
4.541 Tonnen (x1000) mit 10,29 g/t Gold
1.135 Tonnes (x1000) mit 12,94 g/t Gold
mit 64%igem Anteil macht das 1,4 Mio. Unzen zusätzlich für RPM
Für Lincoln Hill soll ein erster NI 43-101 kommen.
Aus der News vom 10. Dez 09 A first ever NI43-101 resource estimate will be completed on the Lincoln Hill project once all assays have been received and integrated into the drillhole database. The Company believes that Lincoln Hill will become our third gold resource and will add to Rye Patch's inventory of gold in Nevada.
With the previously announced NI43-101 resource estimates for the Wilco project and the Jessup project, Rye Patch Gold's resource inventory currently has 1,164,000 ounces of gold and gold equivalent in the measured and indicated category plus 2,177,315 ounces of gold and gold equivalent in the inferred category. The gold equivalent calculation is based on US$750/oz gold and US$16/oz silver.
RYE PATCH GOLD CORP. COMPLETES WORK COMMITMENT FOR WILCO EARN IN
Rye Patch Gold Corp. has completed the work commitment obligations to earn a 100-per-cent interest in the Wilco project by spending over $3-million (U.S.) at the project to date. This milestone was achieved one year early.
"Two thousand ten has started off with Rye Patch making great strides to reach its resource goals in Nevada and add value to its shareholders. The signing of the definitive agreement on the REN project and now completing the earn-in at Wilco shows the company is positioned to deliver on its resource goals in Nevada. In addition, the company anticipates completing a National Instrument 43-101-compliant resource estimate on the Lincoln Hill property this spring. When completed, the estimate will be the company's fourth resource in Nevada. With gold production declining worldwide, Rye Patch is uniquely positioned with gold and silver resources in Nevada to capitalize on gold price and resource demand," stated William Howald, chief executive officer and president.
Rye Patch Gold's interest in the Wilco project is subject to the back-in rights of a subsidiary of Newmont Mining Corp. If Rye Patch Gold completes a positive feasibility study on the Wilco project, Newmont will then have 120 days to exercise its back-in right to earn a 60-per-cent interest in the Wilco project which, if exercised, requires Newmont to contribute expenditures totalling $15-million (U.S.) on the project prior to the eighth anniversary of exercising the back-in right. Newmont may also earn an additional 10-per-cent interest in the project (for a total 70-per-cent interest) by expending an additional $5-million (U.S.) (for a total of $20-million (U.S.)) on the property. If Newmont declines to exercise its back-in rights, or fails to exercise such rights within the 120-day time period, or fails to complete the necessary expenditures, Rye Patch Gold may complete the acquisition of the Wilco project by making a one-time payment to Newmont of $2-million (U.S.) in cash (or half in cash and the remainder in Rye Patch Gold common shares, at Rye Patch Gold's sole discretion), failing which the project reverts to Newmont. Thereafter, Newmont's sole interest in the Wilco project will be a sliding scale 2-per-cent to 5-per-cent net smelter returns royalty (NSR) in respect of all gold, silver and platinum group metals production, as determined based on the prevailing gold price, and a 3.5-per-cent NSR in respect of production from all other minerals.
Going forward, the next steps for the Wilco project will entail additional metallurgical testing and preparation work for a preliminary economic assessment. Also, the company is designing a follow-up drilling campaign for the high-grade gold zone encountered in the North basin.
RYE PATCH GOLD CORP. ANNOUNCES TERMINATION OF AGREEMENT TO ACQUIRE CENTERRA GOLD (U.S.) INC.'S REN JOINT VENTURE INTEREST
Rye Patch Gold Corp. has received notice today that Homestake Mining Co. of California has exercised its pre-emptive right to acquire from Centerra Gold (U.S.) Inc. all of Centerra's participating interest in the Ren joint venture property. Rye Patch Gold had entered into an agreement to purchase the Centerra interest conditional upon Homestake's waiver of its pre-emptive right (see Rye Patch Gold's news release in Stockwatch dated Feb. 10, 2010). As a result of Homestake's election to purchase the Centerra interest, Rye Patch Gold's agreement with Centerra will terminate and Rye Patch Gold is entitled to receive a break fee of $250,000 (U.S.) from Centerra upon completion of Homestake's acquisition of the Centerra interest.
Völlig unverständlich warum die nach der News so abschmiert. Mir persönlich hat der Centerra Deal nie gefallen, fande die zusätzlichen 1,4 Mio. Unzen die man erworben hätte viel zu teuer mit 42 Mio. US$ die man dafür hätte zahlen müssen.
FAKTEN
Ressource: 3,5 Mio. Unzen Gold
Market Cap derzeit 36 Mio. CAD 10,2 $ pro Unze und durchschnittliche Grades von 0,614 g/t !
Rye Patch Gold Corp. Presents Nevada Project Update and Commences Drilling Program at Wilco
VANCOUVER, BRITISH COLUMBIA, Apr. 28, 2010 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/28/10 -- Rye Patch Gold Corp (TSX VENTURE: RPM)(OTCBB: RPMGF) ("Rye Patch Gold" or the "Company") is pleased to announce an update on its Nevada project portfolio. Exploration budgets totalling US$1.4M are planned and the hunt for another major Nevada acquisition is underway.
Wilco Project
The Company announces the commencement of a Spring drilling campaign at its 100% controlled Wilco project located on the Oreana trend in West Central Nevada. The campaign will complete up to 5,000-metres of reverse circulation (RC) drilling to test high-grade feeder zones in the North Basin target area and drill a new pediment target. The North Basin drillholes will have a nominal depth of 400-metres, and have been sited based on the new information gleaned from the last years drill program. The drillholes will test the newly identified structural zones for high-grade gold and silver.
In addition, exploration drilling will be initiated on the Woolsey pediment target located in the northern portion of the Wilco property. This target is outboard of an altered silicified siltstone ridge with surface rock chip and soil gold anomalies and is covered by thin veneer of pediment gravels. The altered and mineralized siltstone lithology lies above the main contact zone identified in the Section Line and Willard discovery areas. This contact has not been drilled by past operators. On and adjacent to the pediment, elevated gold and mercury values have been established and a gravity geophysical survey shows shallow pediment gravel cover. Rye Patch controls the private land where the Woolsey target is located. The Woolsey anomaly has size required for another substantial near-surface oxide deposit with significant upside potential.
In addition, drillhole composites from the 2007, 2008 and 2009 drilling campaigns will be selected for metallurgical test work on the Section Line discovery zone. Oxidized material in the drillholes covers a rectangular area measuring 1,800 metres by 1,100 metres (6,000 feet by 3,600 feet) in a series of multiple stacked zones. Rye Patch is in the process of selecting a third party to manage and complete the metallurgical test work.
The drilling and metallurgical test work will be part of an estimated US$500,000 exploration program.
Lincoln Hill Project
At Lincoln Hill, Rye Patch is completing the first ever NI43-101 resource estimate for the project. The Company has sent the geologic model and drillhole information to Scott E. Wilson Consulting who is completing the resource estimate. The Lincoln Hill resource estimate will be the Company's third Nevada gold resource property.
Following completion of the resource estimate, a drilling campaign will be designed. The drill program will have the goal of infilling and expanding the new resource. An exploration program totalling US$500,000 is planned.
Gold Ridge Project
The Gold Ridge project has several early-stage gold zones that require follow up. This early stage work will be completed during the summer with the purpose of identifying new drill targets on the property. The 100% owned Gold Ridge property covers 12 square kilometers prospective ground along the Oreana trend. The exploration work program will define drill targets. An initial targeting budget totalling US$100,000 is envisioned.
Jessup Project
The Jessup project has several targets that show potential for higher grade gold and silver associated with structural controlled breccias and breccia pipes. The targets were identified during the 2008 drill program which delineated higher grade gold and silver within breccias at the San Jacinto and North Jessup resource areas. These targets will be prioritized for a possible 2010 drill campaign. While final cost estimates are not complete, an exploration program totalling US$300,000 is planned.
Finally, the Company is reviewing and updating its proprietary Nevada acquisition list. The Company has identified several major Nevada opportunities that it intends to pursue. One or more of these trend-scale acquisitions could give Rye Patch investors the possibility to participate in a major Nevada gold opportunity.
As released on May 11, 2009 and on June 2, 2009 for the Wilco and Jessup projects respectively, Rye Patch Gold's resource inventory has 1,164,000 ounces of gold and gold equivalent in the measured and indicated category plus 2,177,315 ounces of gold and gold equivalent in the inferred category. The table summarizes Rye Patch Gold's precious metal inventory in Nevada, USA.
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Rye Patch Gold's NI 43-101 Resource Inventory (1)
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Contained
Gold
Gold Silver Contained Contained & Gold
Resource Tonnes Grade Grade Gold Silver Equiv.
Property Category (X 1,000) (g/t) (g/t) Ounces Ounces Ounces (3)
---------------------------------------------------------------------------
Wilco Measured 7,526 0.69 4.595 164,000 1,111,000 188,000
(2) Indicated 30,844 0.51 3.601 522,000 3,638,000 600,000
Inferred 121,838 0.41 5.075 1,660,000 19,871,000 2,084,315
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Jessup Measured 7,775 0.51 8.745 128,000 2,184,000 161,000
(2) Indicated 12,642 0.41 7.167 172,000 2,906,000 215,000
Inferred 4,494 0.55 7.922 77,000 1,146,000 93,000
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Total Measured & Indicated Resources 986,000 9,839,000 1,164,000
Total Inferred Resources 1,737,000 21,017,000 2,177,315
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(1) All resources on 100% basis. Metallurgical recoveries and net smelter
returns are assumed to be 100%. Conforms to 43-101 definitions for
resources;
(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 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) Wilco and Jessup Resource includes Au equivalent ounces (Aueq.); where
Aueq. = (Ag opt X $Ag/oz) + (Au opt X $Au/oz)/$Au/oz, for Au/oz = $750,
and Ag/oz = $16.
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The Company also announces the termination of Lindsay Malcolm, as Manager Corporate Development, effective immediately.
About Rye Patch Gold
Rye Patch Gold Corp. 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 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.
Rye Patch Gold Corp. Engages Consultant to Promote Investor Relations
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2010) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch Gold" or the "Company") announces that it has retained the services of Ubika Corporation ("Ubika") as a consultant to promote investor relations. Ubika will communicate with its network of brokers, retail advisors, investors and others in the investment community to raise the profile of the Company through, among other things, the preparation and distribution of research reports pertaining to the Company, making accessible the Company's profile on Ubika's flagship website portal and conducting presentations on the Company. Ubika's engagement commenced as of May 10, 2010 and will extend for a one-year term. Thereafter, the engagement will be subject to automatic renewals unless either Rye Patch Gold or Ubika terminates the engagement upon giving the other party 60 days' advance notice. In consideration for Ubika's services, Rye Patch Gold has paid Ubika an advance fee of $35,000 to cover the one-year term of engagement and will, subject to TSX Venture Exchange (the "Exchange") approval, grant to Ubika a stock option to acquire up to 100,000 common shares of the Company at an exercise price of $0.25 per share for a 5 year term and vesting in accordance with the policies of the Exchange.
Ubika is a specialized research, analytics and capital market service company with operations in Toronto and Vancouver, Canada. The Managing Director of Ubika is Vikas Ranjan.
Other than the aforementioned grant of the stock option, none of Ubika and Vikas Ranjan owns any securities of, or holds any interest in, Rye Patch Gold, or has any right or intent to acquire any securities of, or interest in, Rye Patch Gold.
Rye Patch Gold Corp. 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 acquisition, exploration and development of quality resource-based gold and silver projects. Rye Patch Gold is developing its primary assets – the advanced-stage Wilco project, Lincoln Hill and located within 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
May 18, 2010 09:00 ET
Rye Patch Gold Announces First Resource Estimate for Lincoln Hill
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2010) - Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") announces the first National Instrument 43-101 (NI43-101) compliant resource estimate for the 100% controlled Lincoln Hill project based on the Company's 2008 and 2009 drill campaigns. The resource table below shows the new Lincoln Hill gold and silver inferred resource estimate using a 0.343 g/t (0.01 opt) gold and gold equivalent (gold equivalent or Aueq) cut-off grade.
Cutoff Grade (Gm/Tonne) Tonnes (1000's) Au (Gm/Tonne) Gold Ozs Ag (Gm/Tonne) Silver Ozs
0.343 17,215 0.686 380,000 Oz. Gold 17.143 9,488,000 Oz. Silver
"With Wilco, Jessup and now the Lincoln Hill resource estimates complete, the increased gold and silver resources suggest that the Oreana trend has significant potential and scale. The Company is advancing the Oreana trend projects and is continuing to pursue other high-quality resource projects in Nevada," stated William C. (Bill) Howald, the Company's CEO and President.
The new gold and silver resource estimate for Lincoln Hill is based on 3-D geologic models that incorporated 4,449 individual verified gold and silver assays from 49 drillholes including Rye Patch's 43 reverse circulation drillholes and 4 core holes. Block model grades were interpolated from 1,094 down-the-hole composites using inverse distance methodologies. No capping was required. The silver resource was prepared using the same geologic and estimation parameters as the gold block model estimation. The model uses 3-D blocks which are 6 metres in height, width, and depth. Using US$900 per ounce for gold and US$18 per ounce for silver, an inferred gold equivalent resource of 569,760 ounces with an average grade of 1.029 g/t Aueq was estimated. The resource is stockwork zone located at the surface with high-grade feeder structures internal to the main mineralized body.
SEWC used industry-accepted standards to reclassify this new resource. Geologic interpretations were incorporated into the new resource for greater confidence in the resource estimate. Cut-off grades were calculated based on referencing up-to-date costing structures that are publically available.
The resource is classified using a combination of distance to the nearest sample, the number of samples, and number of holes used to estimate each block, while also taking into account project history, database quality, sample integrity and geologic understanding. Because the Lincoln Hill drillholes are few and widely spaced, SEWC classified the resource as inferred. Additional drilling may result in upgrading the inferred resource to measured and indicated resources.
Scott E. Wilson Consulting, Inc. (SEWC) of Denver, Colorado completed the new resource estimate under the direction of Scott E. Wilson who is a qualified person as defined by NI43-101. Mr. Wilson is responsible for, and approves of, the technical disclosure in this news release. The NI43-101 Lincoln Hill project technical report will be posted on SEDAR at www.sedar.com within 45 days of this news release.
As announced today on the Company's Lincoln Hill project, together with the Company's previous announcements on May 11, 2009 and June 2, 2009 in respect of the Wilco and Jessup projects, Rye Patch Gold's resource inventory is now comprised of 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)
Völlig unverständlich warum die nach der News so abschmiert. Mir persönlich hat der Centerra Deal nie gefallen, fande die zusätzlichen 1,4 Mio. Unzen die man erworben hätte viel zu teuer mit 42 Mio. US$ die man dafür hätte zahlen müssen.
FAKTEN
Ressource: 3,5 Mio. Unzen Gold
Market Cap derzeit 36 Mio. CAD 10,2 $ pro Unze und durchschnittliche Grades von 0,614 g/t !
Rye Patch Gold's resource inventory is now comprised of 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.
Jun 07, 2010 08:58 ET Rye Patch Gold Drills 44.5 g/t Au and 36.3 g/t Ag Over 1.5 Metres at Wilco
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2010) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") reports drillhole assays for 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: 2010 REVERSE CIRCULATION DRILL PROGRAM (WR-095 to WR-100)
Drillhole Target Au Ag Drillhole interval From To TD
Area g/tonne g/tonne metres metres metres (metres)
WR-095 North Area 0.43 3.6 16.8 67.1 83.8 373.4
WR-095 North Basin 0.35 2.3 3.0 88.4 91.4
WR-095 North Basin 0.36 3.9 3.0 93.0 96.0
WR-095 North Basin 0.39 4.5 3.0 112.8 115.8
WR-095 North Basin 3.24 4.0 6.1 118.9 125.0
Including 6.31 5.3 3.0 120.4 123.4
WR-095 North Basin 2.08 12.7 15.2 301.8 317.0
Including 3.54 39.8 1.5 303.3 304.8
Including 5.90 25.7 3.1 312.4 315.5
WR-096 North Basin 0.44 2.8 9.1 80.8 89.9 381.0
WR-096 North Basin 0.43 2.5 12.2 93.0 105.2
WR-096 North Basin 0.44 2.1 4.6 109.7 114.3
WR-096 North Basin 0.47 5.1 3.0 349.0 352.0
WR-097 North Basin 0.41 2.7 16.8 70.1 86.9 390.1
WR-097 North Basin 0.47 2.5 13.7 100.6 114.3
WR-098 North Basin 0.36 2.9 3.0 239.3 242.3 379.0
WR-098 North Basin 3.24 3.2 3.0 315.5 318.5
Including 6.33 4.9 1.5 315.5 317.0
WR-098 North Basin 1.24 6.5 30.5 332.2 362.7
Including 3.34 4.9 1.5 335.3 336.8
WR-099 North Basin 0.43 7.8 12.2 123.4 135.6 385.6
WR-099 North Basin 0.48 5.4 4.6 303.3 307.8
WR-099 North Basin 11.67 12.0 6.1 310.9 317.0
Including 44.53 36.3 1.5 312.4 313.9
WR-099 North Basin 2.68 36.8 3.0 356.6 359.7
WR-099 North Basin 1.17 5.0 6.1 373.4 379.5
WR-100 North Basin 0.40 3.8 3.0 123.4 126.5 396.2
WR-100 North Basin 1.39 2.1 3.0 382.5 385.6
"These drill results demonstrate an expansion of the high-grade zone in the North Basin target. Given our existing extensive Nevada resource inventory; the expansion potential of the Oreana trend and the Company's unique networking capability, Rye Patch has a clear path to meet its corporate resource inventory objectives," commented William C. (Bill) Howald, the Company's CEO and President.
Drillholes WR-081, and WR-087, drilled in 2008, along with drillholes WR-094, drilled in 2009, and WR-095 and WR-099 have all intercepted higher grade gold values (see previous news releases of the Company dated November 25, 2008 and February 23, 2010). Using a 5 g/t gold cutoff grade and a minimum drill intercept of 3 meters, gold values range from 5.9 g/t Au in WR-095 to 11.82 g/t Au in WR-087 over 3 to 6 metre intervals. To date, the drilling has defined a rectangular mineralized area measuring 100 metres by 200 metres that is open along a west-southwest oriented trend paralleling the northern limb of the Section Line anticline at the geologic contact between an upper siltstone unit and a lower claystone lithology. The contact zone is a regional feature which has exploration implications for the Oreana trend.
The high-grade zone is open to the west-southwest. The identified high-grade zone could be the feeder structure for the Section Line deposit. Continued drilling and offsetting of the high-grade zone will be required to verify this idea.
The present drill program is anticipated to continue until late June. A total of eleven reverse circulation drillholes is anticipated to be completed in the spring program. Assay results for drillholes WR-101 to WR-103 are pending, WR-104 is in progress, and WR-105 is planned. The drilling contractor, Boart-Longyear, has been apprised that a second pass program is envisioned for late summer.
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.
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.
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.
Ubika Research initiates research coverage on Rye Patch Gold Corp.
Jun. 21, 2010 (Baystreet.ca) --
TORONTO, Canada - Ubika Research has initiated research coverage on Rye Patch Gold Corp. (TSXV: RPM) in a report, " A junior with breakout potential in Nevada's prolific gold region” (June 21, 2010). Rye Patch Gold Corp (RPM) is an advanced stage exploration company which has NI 43-101 compliant estimate of 3.9 million ounces of total gold and gold equivalent resources.
Ubika Research believes that Rye Patch Gold Corp has the potential to become a breakout junior gold story. It has high quality properties in a well-established mining zone, a highly experienced and savvy management team and necessary cash to carry out its near-term acquisition and exploration plans.
Given the company’s location, the stage of its development, its increasing resource estimates, and its undervaluation relative to its peer group, it may potentially become an acquisition target to larger gold mining companies such as Newmont Mining Corp. (NYSE: NEM) and Kinross Gold Corp. (TSX:K, NYSE: KGC), which also operate in the Nevada gold district.
Rye Patch Gold Corp (TSXV:RPM) is rated “Speculative Buy” by Ubika Research, with a target price of C$ 1.52.
Jun 30, 2010 09:30 ET Rye Patch Gold Files Technical Report on Lincoln Hill Resource
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2010) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") has filed on SEDAR a National Instrument 43-101 compliant Technical Report supporting the mineral resource estimate at the Lincoln Hill Project in Nevada (see the Company's news release dated May 18, 2010). The resource table below shows the new Lincoln Hill gold and silver inferred resource estimate using a 0.343 g/t (0.01 opt) gold and gold equivalent (gold equivalent or Aueq) cut-off grade.
Cutoff Grade (Gm/Tonne) Tonnes (1000's) Au (Gm/Tonne) Gold Ozs Ag (Gm/Tonne) Silver Ozs
0.343 17,215 0.686 380,000 17.143 9,488,000
Using US$900 per ounce for gold and US$18 per ounce for silver, an inferred gold equivalent resource of 569,760 ounces with an average grade of 1.029 g/t Aueq was estimated. The resource is stockwork zone located at the surface with high-grade feeder structures internal to the main mineralized body.
"The new Lincoln Hill resource demonstrates the untapped potential of the Oreana trend. The Company is starting exploration along its 100% controlled land holdings located between the Wilco and Lincoln Hill projects. This portion of the Oreana trend will benefit from our geologic knowledge and expertise gained from Wilco and Lincoln Hill, and the Company anticipates to generate additional high-quality drill targets from this program," commented William C. (Bill) Howald, the Company's CEO and President.
Scott E. Wilson Consulting, Inc. (SEWC) used industry-accepted practices and standards to classify the Lincoln Hill resource. Geologic interpretations were incorporated into the new resource for greater confidence in the resource estimate. Cut-off grades were calculated based on referencing up-to-date costing structures that are publically available.
The resource is classified using a combination of distance to the nearest sample, the number of samples, and number of holes used to estimate each block, while also taking into account project history, database quality, sample integrity and geologic understanding. Because the Lincoln Hill drillholes are few and widely spaced, SEWC classified the resource as inferred. Additional drilling may result in upgrading the inferred resource to measured and indicated resources.
Scott Wilson of SEWC is a qualified person as defined in National Instrument 43-101 and is responsible for, and approves of, the technical disclosure relating to the Lincoln Hill Project contained in this news release. 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.
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.
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
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.
Jul 28, 2010 12:54 ET Rye Patch Gold Leases Wilco Geothermal Rights
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2010) - Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") reports it has leased the geothermal rights on its 100% owned Wilco gold project to Wilco Energy LLC, a non-related company. Rye Patch controls geothermal rights on a portion of the Wilco property adjacent to the Colado gold/silver resource area located in sections 25 and 35 along the western portion of the Wilco property.
"While gold and silver remain Rye Patch's focus, this is an example of how the Company is looking for innovative ways to create additional shareholder value from its property portfolio. In concert with Wilco Energy LLC, the Company will have the ability to use the information generated by the geothermal exploration program to augment and assist its gold and silver exploration program at Wilco. The successful delineation of a geothermal field would give the Wilco project the ability to capitalize on the availability and utility of 'Green Energy' to supply a potential mining operation as well as providing Rye Patch with royalty revenue to supplement future exploration programs in Nevada," stated William C. (Bill) Howald, the Company's CEO and President.
Wilco Energy LLC is leasing the geothermal rights on 1,240 acres (502 hectares) of the Wilco property for an initial rental payment covering a period of three years with increases in rental payments at four and six years. If a geothermal field is identified within the project area, Rye Patch will receive a gross proceeds royalty from the sale of electric power. Lease rental payments are creditable to the royalty. Wilco Energy LLC is obligated to spend a minimum amount on geothermal exploration within the project area before July 20, 2011. If Wilco Energy LLC is unable to complete the first year Work Commitment then Wilco Energy LLC will pay Rye Patch the difference between the amount committed and the actual amount expended. The initial term of the lease is 15 years and can be extended for an additional 10 years at Lessee's option.
Drilling by Rye Patch as well as historic drilling in the Colado area has encountered warm to hot water in a majority of the drillholes. Temperature measurements from the Rye Patch drillhole collars have returned values in excess of 100 degrees Celsius in several drillholes. Following commencement of the geothermal exploration program, Rye Patch will keep investors apprised of significant results and milestones achieved by the program.
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)
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 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.
Aug 11, 2010 09:30 ET Rye Patch Gold Identifies New Gold Target Along the Oreana Trend
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2010) - Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCBB: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 Tonnes (X 1,000) Gold
Grade (g/t) Silver
Grade (g/t) Contained Gold Ounces Contained Silver Ounces Contained Au & Au Equivalent Ounces(4)
Resource 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.
ANCOUVER, BRITISH COLUMBIA, Aug 11, 2010 (MARKETWIRE via COMTEX) -- Rye Patch Gold Corp /quotes/comstock/11v!rpm (CA:RPM 0.14, 0.00, 0.00%) /quotes/comstock/11i!rpmgf (RPMGF 0.14, +0.00, +2.96%) ("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)
---------------------------------------------------------------------------
Contained
Tonnes Gold Silver Contained Contained Au & Au
Prop- Resource (X Grade Grade Gold Silver Equivalent
erty Category 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
---------------------------------------------------------------------------
Jess-
up
(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
---------------------------------------------------------------------------
Linc-
oln
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 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.
Contacts:
Rye Patch Gold Corp.
Investor Relations
(604) 638-1588
(604) 638-1589 (FAX) info@ryepatchgold.com www.ryepatchgold.com"Die Kunst der Besteuerung besteht ganz einfach darin, die Gans so zu rupfen, dass man möglichst viel Federn bei möglichst wenig Geschrei erhält." - Jean-Baptiste Colbert
das Volumen war die letzten beiden Handelstage enorm. An den im Dezember auslaufenden Warrants kanns jedenfalls nicht liegen. Die sind mit 0,15 CAD gepreist.
Mit etwas Glück haben wir mit 0,12 CAD das Tief gesehen.
Das starke gestaffelte Bid in Kanada im Orderbuch welches sich die letzten Tage aufgebaut hat, gibt eine gewisse Sicherheit.
Aus dem aktuellen MD&A auf sedar: Jessup Follow-up of existing targets is under review and being prioritized for a September 2010 drilling program.
Lincoln Hill
The resource is stockwork zone located at the surface with high-grade feeder structures internal to the main mineralized body. The majority of the resource is within the oxide domain of the geologic model, and the resource is open to the northeast, southwest and west. A fall drilling program will commence in September 2010.
Gold Ridge – Oreana Trend
The Gold Ridge property is 100% owned lands staked by Rye Patch Gold between the Wilco and Lincoln Hill projects. The property cosnsists of 302 unpatented lode claims covering 2,160 hectares (5,335 acres) and securely postions Rye Patch along the Oreana trend. Resent work on the project has identified new gold-bearing zones that have returned gold values up to 5.5 g/t Au and 458 g/t Ag. Additional work is required to get the new targets to a drilling ready status. At this time, geologic mapping, additional surface rock chip and soil sampling along with geophysical surveys are in progress. A fall 2010 phase-one drilling program is envisioned.A second target within the Gold Ridge property shows high potential for significant silver mineralsation. The target is being evaluated over the summer and a fall drill program is envisioned.
Wilco (hier hat man derzeit die größte Ressource - Das Projektgebiet wird jetzt auch für geothermische Zwecke verpachtet) On July 28, 2010, the Company announced it has leased the geothermal rights on its 100% owned Wilco gold project to Wilco Energy LLC, a non-related company. Rye Patch controls geothermal rights on a portion of the Wilco property adjacent to the Colado gold/silver resource area located in sections 25 and 35 along the western portion of the Wilco property.
Wilco Energy LLC is leasing the geothermal rights on 1,240 acres (502 hectares) of the Wilco property for an initial rental payment covering a period of three years with increases in rental payments at four and six years. If a geothermal field is identified within the project area, Rye Patch will receive a gross proceeds royalty from the sale of electric power. Lease rental payments are creditable to the royalty. Wilco Energy LLC is obligated to spend a minimum amount on geothermal exploration within the project area before July 20, 2011. If Wilco Energy LLC is unable to complete the first year Work Commitment then Wilco Energy LLC will pay Rye Patch the difference between the amount committed and the actual amount expended. The initial term of the lease is 15 years and
can be extended for an additional 10 years at Lessee’s option. Drilling by Rye Patch as well as historic drilling in the Colado area has encountered warm to hot water in a majority of the drillholes. Temperature measurements from the Rye Patch drillhole collars have returned values in excess of 100 degrees Celsius in several drillholes. Following commencement of the geothermal exploration
program, Rye Patch will keep investors apprised of significant results and milestones achieved by the program.
"While gold and silver remain Rye Patch's focus, this is an example of how the Company is looking for innovative ways to create additional shareholder value from its property portfolio. In concert with Wilco Energy LLC, the Company will have the ability to use the information generated by the geothermal exploration program to augment and assist its gold and silver exploration program at Wilco. The successful delineation of a geothermal field would give the Wilco project the ability to capitalize on the availability and utility of 'Green Energy' to supply a potential mining operation as well as providing Rye Patch with royalty revenue to supplement future exploration programs in Nevada", stated William C. (Bill) Howald, the Company's CEO and President.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2010) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") announces commencement of drilling operations along the Oreana trend. The initial drilling programs total 12,000 metres focused along the Oreana gold/silver trend. The drill programs have started and when in full swing will employ multiple drill rigs on the Wilco, Jessup, Lincoln Hill and Gold Ridge projects.
Wilco Project: A 3,000-metre core program is starting on the 100% controlled Wilco project to follow up on high-grade gold intercepts encountered in the spring drilling campaign. Using information from the recent drillholes, geologic cross sections are showing the geometry and direction of the high-grade gold encountered. The core program will be used to confirm the geologic model and expand this zone to the southwest. Directional and orientated core will allow our geologists to better understand the ore-controlling structures and address the gold particulation (coarse gold) associated with the high-grade zone. Currently, the zone is 100-metres by 200-metres and is open to the west-southwest.
Lincoln Hill Project: At the 100% controlled Lincoln Hill property, the Company is preparing access roads and excavating drill sites for an October start. The campaign will focus on the open mineralisation within the flat-lying, near-surface high-grade gold and silver zones reported in the main resource area, and will follow up on several gold and silver targets located outside the main resource area including the Raven target located 1,800 metres to the southwest. The initial program is scheduled for 3,000 metres of RC drilling which could increase depending upon the results.
Jessup Project: Preparation for RC drilling at the 100% controlled Jessup project is complete, and the drill program is underway. A total of 2,500 metres is planned in twelve drillholes to follow up on near surface, high-grade gold and silver associated with west-northwest oriented breccias and breccias dikes. The 2008 drilling campaign encountered elevated gold and silver values associated with previously untested breccias zones. The majority of the historic drilling in the areas with breccia were vertical holes and Rye Patch's angled drillholes that intersected the breccias show a higher grade gold and silver values. The program will target the breccias with the intent of expanding the higher grade zones.
Gold Ridge Property: The 100% owned Gold Ridge property has two targets, Red Hill and Silver Ridge, ready for drilling and two areas pending additional surface evaluation and follow up. A total of 3,500 metres of RC drilling is planned.
The first target is the Red Hill area where two parallel, one-kilometre zones have been identified. 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 hydrothermal breccias. The hydrothermal breccias' true thickness has yet to be determined; however, outcrop exposures of the silica altered zones are between two and twenty metres in thickness. A drill program is being permitted, and a total of 2,000 metres is proposed.
A second target is related to an altered stockwork silver zone with a two kilometres strike length. The area has elevated silver values with significant values ranging from 20-ppm Ag to 486-ppm Ag from surface outcrop channel sampling. Three areas show promise within the two-kilometre trend. These target zones will be drill tested this fall and a drill program totalling 1,500 metres is being permitted.
The costs of the drill programs are estimated at US$1,500,000. However, additional drill permitting has been completed should assay results indicated follow-up programs are warranted. All permits are in place for Wilco, Lincoln Hill and Jessup and are pending for the Gold Ridge targets. The Gold Ridge permit is anticipated by the end of September.
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)
Property Resource
Category Tonnes
(X 1,000) Gold Grade (g/t) Silver Grade (g/t) Contained Gold Ounces Contained Silver Ounces Contained
Au & Au
Equivalent
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 exploring well-known mineral trends in Nevada - the world's fourth-richest gold region. Starting with 150,000 inferred ounces of gold in mid-2007, this well-funded Company now has 1.2-million ounces of gold and gold equivalent in the measured and indicated category, plus 2.7-million ounces of gold and gold equivalent in the inferred category. Rye Patch Gold 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 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, Jessup, and Gold Ridge projects located along the emerging Oreana gold trend in west-central 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.
Rye Patch Gold Corp. has acquired the Garden Gate Pass project located 12 kilometres (seven miles) south-southeast of Barrick Gold's Cortez Hills mine. The project comprises 153 unpatented lode claims acquired from a local prospecting company -- Pyramid Lake LLC. Rye Patch controls 100 per cent of the property subject to annual advance royalty payments and a 2-per-cent retained net smelter return (NSR).
Geographically, the Garden Gate Pass project is surrounded by gold mines. Barrick Gold's Cortez Hills deposit is located 12 kilometres to the north-northwest, and its ET Blue and Red Hills discoveries are located to the north -- roughly four kilometres and seven kilometres, respectively. US Gold's Tonkin Springs mine is a mere 15 kilometres to the south.
William Howald, president and chief executive officer, commented: "Rye Patch is focused on acquiring projects with a potential for resource delineation to increase its resource inventory. The company has been successful in acquiring projects that can quickly add gold and silver resources to our inventory along the Oreana trend. The geologic setting, location along the Cortez trend, and our geologic expertise has encouraged us to acquire the Garden Gate Pass project. We have some exceptional geologic ideas and hands-on experience that give us confidence that can quickly advance the Garden Gate Pass project to the next exploration stage."
The project contains a pediment-covered area that has lower-plate carbonate lithologies beneath the gravel cover. Historic data show the prospective lower plate is within 200 metres of the surface on the eastern side of the property. The main target lies in the west-central portion of the project along a major northwest-trending segment of the Cortez trend. This portion of the Cortez trend is controlled by a northwest-striking anticline which marks the geologic position of the gold-controlling structures. This geologic segment contains the original Cortez deposits and the new Cortez Hills mine. The Rye Patch geologic staff considers the target to be one of the best exploration plays along the Cortez trend for a pipeline or Cortez Hills discovery analog.
Rye Patch is planning detailed aeromagnetic- and gravity-geophysical surveys to map the lower-plate stratigraphy. Drilling on the property could start in spring of 2011.
Rye Patch Gold acquired the Garden Gate Pass property from Pyramid Lake LLC. The terms of the lease agreement are advance royalty payments starting at $40,000 (U.S.) as an upfront payment, $50,000 (U.S.) on the first anniversary, $55,000 (U.S.) on the second anniversary, $60,000 (U.S.) on the third through seventh anniversaries, and $100,000 (U.S.) starting on the eighth anniversary and thereafter. Pyramid Lake retains a 2-per-cent NSR royalty.
Rye Patch Gold Reports Metallic Screen Assays From Wilco
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2010) - Rye Patch Gold Corp (TSX VENTURE: RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") announces completion of metallic screen gold assays from the North Basin target on the Wilco project. Based on the metallic-screen assays, the North Basin target has coarse gold associated with high-angle structures cutting the siltstone-claystone contact. The zone is open to the west and currently measures 100 metres wide by 200 metres in a westerly direction. The location and orientation of the high-grade zone suggest the westerly oriented structures are the feeder system to the Section Line discovery. Table 1 shows the summarized results of the metallic screen assays results.
Table 1: Summarized Metallic Screen Assays - North Basin Target
Hole ID From To Length Gold in Coarse Fraction Gold in Fine Fraction Combined Total Gold Weight Coarse Fraction Weight Fine Fraction Sample Weight
metres metres metres ppm ppm Ppm grams grams kilograms
WR-095 301.83 317.07 15.24 24.40 1.70 2.23 22.39 851.26 1.93
WR-098 332.32 362.80 30.49 11.69 1.13 1.32 27.51 938.88 2.91
WR-099 123.48 134.15 10.67 0.48 0.51 0.51 19.08 980.73 2.31
WR-099 304.88 320.12 15.24 54.19 1.40 3.28 45.09 1028.64 2.29
WR-099 373.48 379.57 6.10 21.57 0.56 1.43 33.61 943.03 2.29
WR-101 303.35 318.60 15.24 3.47 0.56 0.63 30.35 902.87 1.60
WR-105 336.89 350.61 13.72 7.32 1.47 1.69 39.40 955.98 2.10
Drillholes WR-095, WR-098, WR-099, and WR-105 show significant gold within the coarse fraction of the drill samples. The higher grades confirm gold particulation (free gold) within the contact zone along westerly oriented structures. To better understand the geologic controls and orientation of the high-grade zone, a core drilling program is in progress. A total of 3,000 metres of core is planned for completion before year-end.
"Understanding the controls and distribution of the higher grade gold will help future targeting on the project, and the potential of the high-grade zone as a feeder system may have a significant impact on the Wilco resource," stated William Howald, President and CEO.
The North Basin reverse circulation drill samples were subjected to the ALS Minerals "metallic screen fire assay" analysis method (Au-SCR21) for gold. The metallic screen method separates 1000 grams of the final prepared pulp over a 100-micron dry screen. Coarse (+100 micron) and fine (-100 micron) fractions are then analyzed using standard fire assay procedures. Gold content (ppm) and weight (grams) for each fraction are reported.
Separate assay results of the coarse and fine core sample fractions offer important geologic and metallurgical insights. Comparisons of the fractional assays with corresponding host lithology, structure, alteration, and mineralization reveal geologic trends and favorable conditions for gold deposition not readily apparent when only total gold content is considered.
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)
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 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 exploring well-known mineral trends in Nevada - the world's fourth-richest gold region. Starting with 150,000 inferred ounces of gold in mid-2007, this well-funded Company now has 1.2-million ounces of gold and gold equivalent in the measured and indicated category, plus 2.7-million ounces of gold and gold equivalent in the inferred category. Rye Patch Gold 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 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, Jessup, and Gold Ridge projects located along the emerging Oreana gold trend in west-central 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.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2010) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch" or the "Company") announces the successful completion of the Company's drilling campaign on its 100% controlled Jessup project. A new mineralized zone was identified at San Jacinto and drillholes penetrated gold and silver bearing breccias in the North Jessup deposit.
A total of twelve drillholes were completed on the property totalling 2,476 metres. The drill program targeted and confirmed thicker grade gold and silver grades. Elevated gold and silver grades are associated with west-northwest oriented breccias and structural zones cross cutting the volcanic rock package. Rye Patch employed angled drillholes across the mineralized breccias which returned better gold and silver grades and confirm continuity of the zones. Table 1 Summarizes the Results of the North Jessup Drilling using a 0.25 gram per tonne cutoff grade for gold.
Jessup Project: Significant North Jessup Drillhole Results
Drillhole Deposit Au g/t Ag g/t Drillhole Interval Meters From meters To meters Total Depth Meters
JR-10-050 North Jessup 0.43 1.30 4.6 170.7 175.3 198.1
JR-10-051 North Jessup 0.76 6.70 22.9 47.2 70.1 137.2
Including 2.21 21.10 1.5 62.5 64.0
JR-10-051 North Jessup 1.01 5.00 25.9 83.8 109.7
Including 3.81 14.90 3.0 91.4 94.5
JR-10-052 North Jessup 0.49 5.50 19.8 33.5 53.3 144.8
JR-10-052 North Jessup 2.23 2.20 3.0 82.3 85.3
The North Jessup drilling confirms the breccias zones have higher gold and silver grades than the surrounding volcanic host rock. The breccias appear to be oriented along west-northwest oriented structural zone possibly associated with the down dropped zones know as grabens. Graben margins are typical mineralized features within volcanic hosted gold systems.
In the San Jacinto deposit area, drilling has identified a new zone located 200 metres southwest of the main San Jacinto deposit. Drillhole JR-10-057 tested a newly identified alteration zone southwest of the deposit. Drilling intersected altered and mineralized volcanic lithologies. The drilling suggests the mineralization maybe a new parallel gold zone which could extend from the main San Jacinto deposit to the southwest. The gold zone encountered in JR-10-057 extends deeper than originally envisioned and the drillhole was terminated in significant gold and silver mineralization. Based on these new results, additional follow up is required. Table 2 summarizes the significant results of the San Jacinto Drilling using a 0.25 gram per tonne cutoff grade for gold.
Jessup Project: Significant San Jacinto Drillhole Results
Drillhole Deposit Au
g/t Ag
g/t Drillhole interval
Meters From
meters To
meters Total Depth
Meters
JR-10-048 San Jacinto 0.27 20.70 9.1 27.4 36.6 228.6
JR-10-057 San Jacinto 2.26 96.60 4.6 80.8 85.3 289.6
JR-10-057 San Jacinto 0.39 100.70 7.6 153.9 161.5
Including 0.86 208.00 3.0 153.9 157.0
JR-10-057 San Jacinto 0.70 1.20 7.6 281.9 289.6
Drillholes JR-10-046, JR-10-047, JR-10-049, JR-10-055 and JR-10-056 were drilled on the east side of the San Jacinto deposit and show mineralization does not extend in that direction. At Tosh Hill, JR-10-053 and JR-10-054 did not return reported gold and silver grades.
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)
Property ResourceCategory Tonnes (X 1,000) Gold Grade (g/t) Silver Grade (g/t) Contained Gold Ounces Contained Silver Ounces Contained Au & Au Equivalent 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 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 a four-acid digestion and an AA finish.
Rye Patch Gold Corp. is exploring well-known mineral trends in Nevada - the world's fourth-richest gold region. Starting with 150,000 inferred ounces of gold in mid-2007, this well-funded Company now has 1.2-million ounces of gold and gold equivalent in the measured and indicated category, plus 2.7-million ounces of gold and gold equivalent in the inferred category. Rye Patch Gold 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 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, Jessup, and Gold Ridge projects located along the emerging Oreana gold trend in west-central 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.
