Rye Patch Gold Drills 45.7 Metres Grading 1.34 g/t Au at Wilco
Wed Sep 17, 3:10 PMVANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2008) - Rye Patch Gold Corp. (TSX VENTURE: RPM.V)(TSX VENTURE: RPM-WT.V) ("Rye Patch" or the "Company") is pleased to release the first eleven drillholes assay results from the Company's phase-2 drilling program on the Wilco project. The phase-2 program is centered within the Willard mine area with step-out drilling within the Section Line discovery zone as well as new drilling on two outlying parallel target zones - Old Willard Mine and Pay Dirt targets. Table 1 summarizes drill interval results, using a 0.01 opt (0.34 g/t) cutoff for intervals greater than 10 feet (3 metres), for drillholes WR-049 to WR-059.
TABLE 1, WILCO PROJECT: 2008 REVERSE CIRCULATION DRILL PROGRAM (WR049 to
WR059)
-----------------------------------------------------------------------
Hole
Drillhole Target Au interval From To TD
Area oz/ton feet feet feet (feet)
-----------------------------------------------------------------------
WR049 Section Line 0.054 20 285 305
-------------------------------------------------------------
WR049 Section Line 0.030 90 325 415 815
-------------------------------------------------------------
WR049 Section Line 0.031 80 590 670
-----------------------------------------------------------------------
WR050 Section Line 0.075 30 265 295
-------------------------------------------------------------
Including 0.183 10 265 275 900
-------------------------------------------------------------
WR050 Section Line 0.023 10 655 665
-----------------------------------------------------------------------
WR051 Section Line NSV 785
-----------------------------------------------------------------------
WR052 Section Line 0.019 20 390 410
------------------------------------------------------------- 515
WR052 Section Line 0.018 20 445 465
-----------------------------------------------------------------------
WR053 Section Line 0.010 15 350 365
-------------------------------------------------------------
WR053 Section Line 0.068 75 390 465
-------------------------------------------------------------
WR053 Section Line 0.010 10 520 530
-------------------------------------------------------------
WR053 Section Line 0.012 40 555 595 965
-------------------------------------------------------------
WR053 Section Line 0.013 35 610 645
-------------------------------------------------------------
WR053 Section Line 0.010 10 690 700
-------------------------------------------------------------
WR053 Section Line 0.028 65 725 790
-----------------------------------------------------------------------
WR054 Section Line 0.038 35 265 300
-------------------------------------------------------------
WR054 Section Line 0.010 20 350 370
------------------------------------------------------------- 765
WR054 Section Line 0.029 130 440 570
-------------------------------------------------------------
Including 0.118 5 480 485
-----------------------------------------------------------------------
WR055 Section Line NSV 730
-----------------------------------------------------------------------
WR056 Section Line NSV 725
-----------------------------------------------------------------------
WR057 Section Line 0.014 10 260 270
-------------------------------------------------------------
WR057 Section Line 0.012 25 310 335
-------------------------------------------------------------
WR057 Section Line 0.025 65 385 450 645
-------------------------------------------------------------
WR057 Section Line 0.014 20 540 560
-------------------------------------------------------------
WR057 Section Line 0.016 10 625 635
-----------------------------------------------------------------------
WR058 Section Line 0.014 10 390 400
-------------------------------------------------------------
WR058 Section Line 0.039 150 480 630
------------------------------------------------------------- 700
Including 0.126 10 515 525
-------------------------------------------------------------
Including 0.103 5 535 540
-----------------------------------------------------------------------
WR059 Section Line 0.068 55 165 220
-------------------------------------------------------------
Including 0.291 10 165 175
------------------------------------------------------------- 800
WR059 Section Line 0.100 5 325 330
-------------------------------------------------------------
WR059 Section Line 0.024 25 675 700
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Hole
Target Au interval From To TD
Drillhole Area g/tonne metres metres metres (metres)
-----------------------------------------------------------------------
WR049 Section Line 1.85 6.1 86.9 93.0
-------------------------------------------------------------
WR049 Section Line 1.03 27.4 99.1 126.5 248.4
-------------------------------------------------------------
WR049 Section Line 1.06 24.4 179.8 204.2
-----------------------------------------------------------------------
WR050 Section Line 2.57 9.1 80.8 89.9
-------------------------------------------------------------
Including 6.28 3.0 80.8 83.8 274.3
-------------------------------------------------------------
WR050 Section Line 0.79 3.0 199.6 202.7
-----------------------------------------------------------------------
WR051 Section Line NSV 239.3
-----------------------------------------------------------------------
WR052 Section Line 0.65 6.1 118.9 125.0
------------------------------------------------------------- 157.0
WR052 Section Line 0.62 6.1 135.6 141.7
-----------------------------------------------------------------------
WR053 Section Line 0.34 4.6 106.7 111.3
-------------------------------------------------------------
WR053 Section Line 2.33 22.9 118.9 141.7
-------------------------------------------------------------
WR053 Section Line 0.34 3.0 158.5 161.5
-------------------------------------------------------------
WR053 Section Line 0.41 12.2 169.2 181.4 294.1
-------------------------------------------------------------
WR053 Section Line 0.45 10.7 185.9 196.6
-------------------------------------------------------------
WR053 Section Line 0.34 3.0 210.3 213.4
-------------------------------------------------------------
WR053 Section Line 0.96 19.8 221.0 240.8
-----------------------------------------------------------------------
WR054 Section Line 1.30 10.7 80.8 91.4
-------------------------------------------------------------
WR054 Section Line 0.34 6.1 106.7 112.8
------------------------------------------------------------- 233.2
WR054 Section Line 0.99 39.6 134.1 173.7
-------------------------------------------------------------
Including 4.05 1.5 146.3 147.8
-----------------------------------------------------------------------
WR055 Section Line NSV 222.5
-----------------------------------------------------------------------
WR056 Section Line NSV 221.0
-----------------------------------------------------------------------
WR057 Section Line 0.48 3.0 79.2 82.3
-------------------------------------------------------------
WR057 Section Line 0.41 7.6 94.5 102.1
-------------------------------------------------------------
WR057 Section Line 0.86 19.8 117.3 137.2 196.6
-------------------------------------------------------------
WR057 Section Line 0.48 6.1 164.6 170.7
-------------------------------------------------------------
WR057 Section Line 0.55 3.0 190.5 193.5
-----------------------------------------------------------------------
WR058 Section Line 0.48 3.0 118.9 121.9
-------------------------------------------------------------
WR058 Section Line 1.34 45.7 146.3 192.0
------------------------------------------------------------- 213.4
Including 4.32 3.0 157.0 160.0
-------------------------------------------------------------
Including 3.53 1.5 163.1 164.6
-----------------------------------------------------------------------
WR059 Section Line 2.33 16.8 50.3 67.1
-------------------------------------------------------------
Including 9.98 3.0 50.3 53.3
------------------------------------------------------------- 243.8
WR059 Section Line 3.43 1.5 99.1 100.6
-------------------------------------------------------------
WR059 Section Line 0.82 7.6 205.7 213.4
-----------------------------------------------------------------------
NSV equals No Significant Values
"We are very pleased to continue to drill gold and expand the Section Line discovery. These drillholes extend the oxide domain to the south and west of the original Section Line discovery which will likely enhance the metallurgical characteristics of the resource. In addition, drillhole WR-059 has intersected a new, near surface zone that is open to the north of the Section Line deposit. Additional drilling is currently being directed to this area; however, results are pending at this time," explained Rye Patch's CEO and President, William C. (Bill) Howald. The Wilco phase-2 drill program commenced in mid-June with Eklund Drilling of Elko, Nevada. The planned program consists of 30,000 feet (10,000 metres) and will finish at the end of September. To date, a total of 25,085 feet (7,646 metres) has been completed in 32 reverse circulation drillholes. The program is centered on the Willard mine area with step-out drillholes to the north, south and west of the Section Line discovery. In addition, drillholes are planned in the 46 and Colado resource area targets. A drillhole location map is available on the company's website at www.ryepatchgold.com. A second drill rig is finishing a 10,000-foot (3,000-metre) program at the Company's 100% controlled Jessup project. This program is scheduled to be completed at the end of September. Initial drill results for the Company's Jessup and Lincoln Hill/Gold Ridge projects will be forthcoming in the next 3 to 4 weeks. The Company should have all drilling results for Wilco, Jessup and Lincoln Hill disclosed by the end of October. As released on the Company's Wilco project on May 12, 2008, and on the Jessup project in December 11, 2007, Rye Patch Gold now holds 779,517 ounces of gold and gold equivalent in the measured and indicated category plus 1,151,776 ounces of gold and gold equivalent in the inferred category. The table below summarizes the resources for Rye Patch Gold's advance projects.
Table 2: Rye Patch Gold's NI43-101 Gold Resource Inventory
---------------------------------------------------------------------------
RYE PATCH GOLD RESOURCES
---------------------------------------------------------------------------
Con-
tained
Con- Con- Gold
Gold Silver tained tained & Gold
Resource Tons Grade Grade Gold Silver Equiv.
Property Category(1) (X 1,000) opt opt Ounces Ounces Ounces(3)
---------------------------------------------------------------------------
Wilco(2) Measured 8,091 0.018 NC 146,701 NC 146,701
Indicated 32,950 0.015 NC 478,816 NC 478,816
Inferred 99,978 0.011 NC 1,124,776 NC 1,124,776
---------------------------------------------------------------------------
Jessup(2) Measured 0 0 0 0 0 0
Indicated 5,423 0.022 0.31 120,000 1,655,000 154,000
Inferred 1,265 0.017 0.23 22,000 286,000 27,000
---------------------------------------------------------------------------
Total Measured Resources 146,701 0 146,701
Total Indicated Resources 598,816 1,655,000 632,816
Total Inferred Resources 1,146,776 286,000 1,151,776
---------------------------------------------------------------------------
(1) Conforms to 43-101 definitions for resources. All numbers are rounded.
(2) Cutoff grade for Willard Measured and Indicated resource is reported at
0.0056 opt Au for oxide mineralisation and 0.042 opt Au for sulphide
mineralisation. The Inferred resource is reported at 0.0056 opt Au for
oxide, sulphide and carbonaceous ore types; however, a higher opt Au
cut-off grade may be required to upgrade the inferred resource to the
measured and indicated resource category. Cutoff grade for Jessup is
0.01 oz Au/t for oxide mineralisation, 0.015 oz Au/t for mixed
material, and 0.025 oz Au/ton for all unoxidised material;
(3) Jessup Resource includes Au equivalent ounces (50 g/t Ag equals 1 g/t
Au). NC equals not calculated
Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold's CEO and President, is the Qualified Person as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release. Mr. Shea Clark-Smith is overseeing the gold assay and geochemical quality control and assurance programs for Rye Patch Gold's drill programs at Wilco, Jessup and Lincoln Hill. He is responsible for creating, administering, and monitoring sample preparation and analytical QA/QC procedures for the drilling program. In sum, the QA/QC procedures will provide several measures of data quality and assure the Company that the data is representative of the original sample. Rye Patch Gold maintains a strict quality control program at all of its projects. ALS Chemex collects the Wilco, Lincoln Hill-Gold Ridge, and Jessup drill samples onsite and transports the samples directly to the ALS Chemex's preparation and analysis facility located in Reno, Nevada. Analyses are conducted on 1-assay ton prepped samples with gold determined using industry standard fire assay methods, with an atomic absorption finish. Rye Patch Gold Corp. is a Nevada-focused and discovery-driven company building a sizeable inventory of gold resource assets in the mining friendly state of Nevada, USA. The Company's seasoned management team is engaged in acquisition, exploration and development of quality resource-based gold projects. Rye Patch Gold is developing its primary assets - the advanced-stage Wilco project located within the Humboldt Gold Trend in west-central Nevada and the Jessup project in Churchill County, Nevada. The Company is seeking gold opportunities that continue to create shareholder value and leverage the gold price. The Company's goal is to have 5-million ounces of gold inventory within the next 3 years. For more information about Rye Patch Gold, please visit our website at www.ryepatchgold.com. On behalf of the Board of Directors William C. (Bill) Howald, CEO & President The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.ContactsKaren Robb Rye Patch Gold Corp.
Manager, Investor Relations
(604) 638-1588
(604) 638-1589 (FAX)
Email: info@ryepatchgold.com
Website: www.ryepatchgold.com
Christine Stewart
Renmark Financial Communications Inc.
Senior Account Manager
(416) 644-2020
(416) 644-2021 (FAX)
Email: cstewart@renmarkfinancial.com
Website: www.renmarkfinancial.com
694.49 (7.49%)