🕐23.11.10 - 15:54 Uhr
Rye Patch Gold Reports Gold and Silver Assays from Jessup
Rye Patch Gold Reports Gold and Silver Assays from Jessup
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Vancouver, British Columbia, November 23rd, 2010 - Rye Patch Gold Corp (TSX-V: RPM; OTC:RPMGF) (Rye Patch or the Company) announces the successful completion of the Companys 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
Ag
Drillhole interval
From
To
Total Depth
g/t
g/t
Meters
meters
meters
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
Ag
Drillhole interval
From
To
Total Depth
g/t
g/t
Meters
meters
meters
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 Golds 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 Golds precious metal inventory in Nevada, USA.
Rye Patch Golds 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 Golds CEO and President, is a Qualified Person as defined under National Instrument 43-101. He has verified th
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