🕐30.05.12 - 15:27 Uhr
RYE PATCH STARTS DRILLING AT GARDEN GATE PASS
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Re: News Release - Wednesday, May 30, 2012
Rye Patch Starts Drilling at Garden Gate Pass
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Vancouver, British Columbia, May 30, 2012 - Rye Patch Gold Corp (TSX.V:
RPM; OTCQX: RPMGF; FWB: 5TN) (the "Company") announces drilling has
resumed on the 100% owned Garden Gate Pass ("GGP") project.
Rye Patch
Gold US Inc., the Companys wholly owned subsidiary, has contracted
Boart Longyear to complete a combination reverse circulation and core
drill program totaling 3,000 metres.
HIGHLIGHTS:A 3,000-metre drill program is underway on the GGP project.
Boart Longyear has been contracted to complete RC drill pre-collars
that will be occupied by a core drill once completed.
The drilling is
focused on the eastern portion of the property where gravity and a
seismic geophysical survey show the presence of an anticlinal feature
that may be the geologic trap for a gold deposit.
As a result of past exploration knowledge of the area, Rye Patch Gold
US Inc.
knew of a seismic line that was completed in 2001 over the
eastern portion of the GGP property.
Working with Barrick, Rye Patch
Gold US Inc.
was able to acquire the digital information.
Based on logging of the 2011 drillholes, Lower Plate lithologies (the
host rock to the nearby Red Hill, Goldrush and Cortez Hills gold
deposits) were intersected in four of six RC drillholes.
The 2011
drill program encountered sections of altered Lower Plate lithologies
with alteration intercepts ranging between 20 metres to 60 metres along
with pathfinder elements of known Carlin gold systems.
"The 2011 drill program was a technical success and has allowed our
geologists to put together a more coherent picture of the subsurface.
The geologists spent many hours reviewing the drillhole logs and
re-evaluating the gravity and seismic geophysical data.
The targets
developed from this review are exactly what we are looking for.
The
anticline structure appears to bring Lower Plate rocks closer to the
surface and could act as a trap to gold.
The combination RC and core
will allow the geologist to quickly set 500 metre deep pre-collars, and
drill core from the bottom of these drillholes.
The method should
reduce costs and allow our geologist to review the lithology, structure
and alteration first hand.
If successful, the pre-collar drillholes
can be used to wedge multiple drillholes across a new zone", stated
William C.
Howald, President and CEO of Rye Patch Gold Corp.
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 the information contained
in, and has reviewed and approved the contents of, this news release.
The Company 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 Companys
seasoned management team is engaged in the acquisition, exploration,
and development of quality resource-based gold and silver projects.
Rye Patch Gold US Inc.
is developing gold and silver resources along
the emerging Oreana trend, located in west-central Nevada, and is
exploring 66 square kilometres along the Cortez trend near Barricks
two new gold discoveries.
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 the Company,
please visit our website at www.ryepatchgold.com.
On behalf of the Board of Directors
William Howald
William C.
(Bill) Howald, CEO & President
For additional information contact:
Rye Patch Gold Corp
Tel.: (604) 638-1588
Fax: (604) 638-1589
This news release contains forward-looking statements, which address
future events and conditions, which are subject to various risks and
uncertainties.
The Companys 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 Companys control.
These factors include: the
availability of funds, the financial position of Rye Patch to pursue
legal undertakings; the outcome of legal action relating to the
Rochester property and the LH unpatented claims, 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.
Litigation is inherently uncertain and factors that could cause actual
results to differ materially from those in forward-looking statements
include unexpected judicial findings of fact, previously unknown facts
arising, and decisions which depart from past legal precedent and
similar events.
Forward-looking statements are based on the expectations and opinions
of the Companys 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.
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Copyright (c) 2012 RYE PATCH GOLD CORP.
(RPM) All rights reserved.
For more information visit our website at http://www.ryepatchgold.com/
or send mailto:
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