Mr. William Howald reports
RYE PATCH DRILLS HIGH-GRADE STRUCTURAL ZONES AT LINCOLN HILL
Rye Patch Gold Corp. has released results of its 2014 drilling campaign on the 100-per-cent-controlled Lincoln Hill project located in Pershing county, Nevada, along the Oreana trend in west-central Nevada.
Highlights:
-
Drill hole LR-112 returned 4.18 grams per tonne gold and 20.6 grams per tonne silver over 13.7 metres,
including high-grade gold and silver grading 34.35 grams per tonne gold and 143 grams per tonne silver
over 1.5 metres, from the Looney mine target on Independence Hill.
- Drilling returned 0.62 gram per tonne gold and 9.7 grams per tonne silver over 22.9 metres, including
three metres grading 3.16 grams per tonne gold and 10.7 grams per tonne silver, from the Octopus target on
Independence Hill.
- The Looney and Octopus targets remain open down dip and to the northwest
and northeast, respectively.
Rye Patch Gold U.S. Inc. completed 28 reverse circulation drillings totalling 3,188 metres (10,460 feet) in two targets -- Roosevelt and Independence Hill. On Independence Hill four zones were identified and tested, and the drilling campaign returned positive results from three of the four zones, including the recognition of a high-grade gold and silver at the Looney and Octopus areas. Anomalous gold and silver assays were returned from the Buck and Charlie zone although the drill intercepted old mine workings where the projection of the high-grade gold zone was predicted. No significant gold results were returned from the Hilltop zone; however, several zones with silver were reported.
"These results give us solid encouragement that Lincoln Hill has substantial room to grow in size and quality and add to the already robust PEA completed May, 2014. We look forward with continued excitement to a larger infill and exploration drilling program in 2015, to commence as soon as permitting is complete. I am very pleased with the ongoing success rate of our exploration drilling, and its ability to identify high-grade zones such as at Looney and Octopus," stated William C. (Bill) Howald, president and chief executive officer of the company.
The Looney mine consists of quartz veins associated to altered lamprophyre dikes. The drilling intercepted two parallel mineral zones. The first zone was intercepted at less than 50 metres depth while the second zone was cut at 130 to 140 metres down the drill hole. Drill holes LR-112 and LR-113 were not deep enough to intercept the second zone, and LR-114 and 115 hit historic mine workings ranging between 1.5 to three metres (five to 10 feet) in width; however, LR-114 and LR-115 did intercept the second parallel mineral zone.
In LR-115, the drill intercepted 6.47 grams per tonne gold and three grams per tonne silver over 1.5 metres, and LR-114 cut 33.7 grams per tonne silver over 1.5 metres. The Looney mine shows the presence of coarse gold in several drill holes. The most remarkable is LR-116 where the standard fire assay returned 1.2 grams per tonne gold while the metallic screen yielded 5.67 grams per tonne gold at the interval 74.7 to 76.2. This comparison suggests coarse gold is present along the Looney structure. The Looney zone remains open to northwest and down dip.
At the Octopus zone, drilling revealed a thick mineralized package averaging 0.62 gram per tonne gold and 9.7 grams per tonne silver over 22.9 metres, including 3.16 grams per tonne gold and 10.2 grams per tonne silver over three metres. A second intercept returned 0.18 gram per tonne gold and 39.1 grams per tonne silver over 7.6 metres, including 149 grams per tonne silver over 1.5 metres. In addition, LR-108, a zone of anomalous zinc with values as high as 2.5 per cent, was intercepted at 62.5 to 64 metres. The significance of the zinc mineralization is under review. The gold zone remains open to northeast and down dip.
LR-101 through LR-106 are located along the Buck and Charlie zone on Independence Hill. LR-101 intercepted two large historic mine workings ranging from three metres wide to 10 metres wide. Difficult ground conditions caused the drill hole to be lost. The remaining drill holes tested the southwest extension and intercepted low-grade or no significant assay results; however, the northwest extension remains untested and open.
The Hilltop mine drilling returned several anomalous silver values ranging from three to 10 grams per tonne silver in narrow zones. Over all, there were no significant gold assays from the Hilltop zone or the Roosevelt target.
LINCOLN HILL PROJECT -- 2014 DRILLING RESULTS
(cut-off 0.2 gram per tonne AuEq)
Drill hole
interval Total
Drill Remarks Au Ag AuEq (1) (2) From To depth
hole g/t g/t g/t (m) (m) (m) (m)
LR-101 Buck and
Charlie 106.7
mine 0.06 10.0 0.26 7.6 73.2 80.8
LR-101 Buck and
Charlie
mine Historic mine workings 97.5 103.6
LR-101 Buck and
Charlie
mine Historic mine workings 105.2 112.8
LR-102 Buck and
Charlie
mine 0.02 11.3 0.25 3.0 74.7 77.7 91.4
LR-103 Buck and
Charlie
mine NSA 76.2
LR-104 Buck and
Charlie
mine NSA 100.6
LR-105 Buck and
Charlie
mine 0.05 13.8 0.33 12.2 25.9 38.1 121.9
LR-106 Buck and
Charlie 117.3
mine 0.11 4.2 0.19 3.0 27.4 30.5
LR-106 Buck and
Charlie
mine 0.13 13.0 0.39 3.0 38.1 41.1
LR-106 Buck and
Charlie
mine 0.16 4.0 0.24 4.6 61.0 65.5
LR-106 Buck and
Charlie
mine 0.10 11.1 0.32 3.0 79.2 82.3
LR-107 Octopus
mine 0.18 39.1 0.96 7.6 41.1 48.8 106.7
Including 0.69 149.0 3.67 1.5 42.7 44.2
LR-108 Octopus
mine 0.62 9.7 0.81 22.9 45.7 68.6 91.4
Including 3.16 10.2 3.36 3.0 61.0 64.0
LR-109 Roosevelt
zone NSA 91.4
LR-110 Roosevelt
zone NSA 61.0
LR-111 Roosevelt
zone NSA 61.0
LR-112 Looney
mine 4.18 20.6 4.59 13.7 36.6 50.3 134.1
Including 34.35 143.0 37.21 1.5 36.6 38.1
LR-113 Looney
mine NSA 105.2
LR-114 Looney
mine Historic mine workings 47.2 50.3 141.7
LR-114 Looney
mine - 33.7 0.67 1.5 132.6 134.1
LR-115 Looney
mine Historic mine workings 47.2 48.8 149.4
LR-115 Looney
mine 0.84 2.9 0.90 1.5 45.7 47.2
LR-115 Looney
mine 0.15 4.5 0.24 4.6 109.7 114.3
LR-115 Looney
mine 6.47 3.0 6.53 1.5 146.3 147.8
LR-116 Looney
mine 0.33 4.4 0.42 9.1 74.7 83.8 160.0
Including 1.22 11.7 1.45 1.5 74.7 76.2
LR-117 Looney
mine NSA 115.8
LR-118 Hill Top
mine NSA 106.7
LR-119 Hill Top
mine NSA 106.7
LR-120 Hill Top
mine NSA 106.7
LR-121 Hill Top
mine NSA 137.2
LR-122 Looney
mine NSA 152.4
LR-123 Looney
mine NSA 137.2
LR-124 Looney
mine 0.38 166 3.70 1.5 38.1 39.6 106.7
LR-125 Looney
mine 1.28 62.5 2.53 1.5 36.6 38.1 137.2
LR-126 Looney
mine 1.16 5.5 1.27 1.5 57.9 59.4 106.7
LR-127 Looney
mine 1.52 42.7 2.37 1.5 56.4 57.9 106.7
LR-127 Looney
mine - 70.0 1.40 7.6 77.7 85.3
LR-128 Looney
mine NSA 152.4
(1) AuEq is gold equivalent calculated using Ag to Au of 50:1
(2) Drill hole interval is not true thickness
NSA: no significant results
Rye Patch U.S. maintains a strict quality control program at all of its projects. All reverse circulation drill samples are submitted to American Assay with prep-blanks, assay blanks, and gold and silver standards. Rye Patch U.S. inserts approximately one quality control or quality assurance samples for every 10 samples submitted to the assay laboratory. The reverse circulation character samples are logged and photographed on site. American Assay collects the samples and transports them to their preparation and analytical facility located in Reno, Nev. Gold analyses are conducted on one-assay-ton prepped samples with gold determined using industry standard fire assay methods with an ICP finish. Gold values above 10 grams per tonne gold (overlimits) are confirmed using fire assay with a gravimetric finish. Silver is analyzed using a two-acid digestion and an ICP finish. Silver values are reanalyzed with a four-acid digestion and ICP finish on all samples with gold values greater than a 0.2 gram per tonne gold assay result. Silver values over 100 grams per tonne silver are reanalyzed using volumetric dissolution.
William Howald, AIPG certified professional geologist No. 11041, Rye Patch Gold's chief executive officer and president, is a qualified person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.
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