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Rise Gold Corp
Symbol C : RISE
Shares Issued 116,105,982
Close 2019-05-21 C$ 0.085
Recent Sedar Documents

Rise Gold drills 5.94 m of 9.4 g/t Au at Idaho-Maryland

2019-05-21 10:13 ET - News Release

Mr. Benjamin Mossman reports

RISE GOLD INTERSECTS HIGH GRADE GOLD 600 M BELOW LOWEST LEVEL OF EXPLORATION ON IDAHO #1 VEIN AT IDAHO-MARYLAND

Rise Gold Corp. has provided additional assay results from continuing diamond core drilling at the Idaho-Maryland gold project.

Highlights:

  • New drill intercept in Idaho No. 1 vein assays 46.3 grams per tonne (g/t) gold over 1.07 metres (1.35 ounces per ton over 3.5 feet) within broader interval assaying 9.4 g/t gold over 5.94 metres.
  • New intercept approximately 600 metres downdip of Idaho 2400 level, the lowest level of exploration on Idaho No. 1 vein, confirming exploration target for the Idaho No. 1 vein with dimensions of 600 metres by 600 metres and remaining open to depth.
  • Recent drilling and reinterpretation of prior drill hole I-19-13 suggest an additional major exploration target on the Idaho No. 2 vein with dimensions of 1,000 metres by 1,400 metres.
  • Assays pending for drill holes I-19-14 and I-19-14A.

The exploration drill program at the Idaho-Maryland project continues to intercept high-grade gold mineralization in multiple vein structures downdip from historic workings. Recent drilling intersected the Idaho No. 1 vein approximately 600 metres downdip of the Idaho 2400 level.

The new intercept from drill hole I-19-12B confirms a large exploration target on the Idaho No. 1 vein with dimensions of approximately 600 metres on strike and 600 metres downdip.

                         NEW DRILL HOLE INTERCEPT I-19-12B

Hole                    From            To       Gold   Intercept             Vein  
                          (m)           (m)      (g/t)  length (m)

Idaho No. 1 vein                                                      
I-19-12B            1,367.27      1,373.22        9.4        5.94      Idaho No. 1 
Including           1,367.27      1,370.11       18.5        2.83      Idaho No. 1
Including           1,369.04      1,370.11       46.3        1.07      Idaho No. 1
Including           1,369.74      1,370.11      111.5        0.37      Idaho No. 1

The company is not able to estimate true widths for the intersected mineralization
until further drilling is completed.

High-grade gold mineralization was encountered in drill hole I-19-12B, which assayed 46.3 g/t gold over 1.07 metres (1.35 ounces per ton over 3.5 feet), including a higher-grade interval of quartz veining with visible gold assaying 111 g/t gold over 0.37 metre (3.24 ounces per ton over 1.2 feet). The high-grade mineralization was included within a broader zone of gold mineralization assaying 9.4 g/t over 5.94 metres (0.27 ounce per ton over 19.5 feet).

Rise Gold has interpreted this intercept to represent a downdip extension of the historic Idaho No. 1 vein. Similar to the geology of the historic Idaho No. 1 vein, the mineralized zone encountered in I-19-12B is located between a diabase dike on the hanging wall and the ankeritized serpentinite unit in the footwall. It differs from the historic vein in that it comprises a group of closely spaced narrow quartz veins hosted in volcanic andesite approximately 25 metres from the serpentinite contact, whereas the historic vein was noted to be directly on the contact. This contact appears to be an important ore control for the Idaho No. 1 vein mineralization.

A large exploration target on the Idaho No. 1 vein is now defined by:

  • Historic mining of high-grade mineralization above the Idaho 2000 level.
  • Historic mapping and sampling of high-grade gold mineralization on both the Idaho 2400 west and east levels. Both levels were noted to be in mineralization at the mine's shutdowns in 1942 and 1955.
  • Previous drill hole I-18-11, which intersected significant gold mineralization above and to the west of drill hole I-19-12.
  • New drill hole intercept I-19-12B, located approximately 600 metres downdip from the Idaho 2400 level.
  • The target remains open to depth.

The Idaho No. 1 vein was the most productive and highest-grade vein of the Idaho-Maryland mine. Historic production from the Idaho No. 1 vein is estimated at 935,000 ounces of gold, with an average head grade of 38.7 g/t (1.12 ounces per ton) gold. Total historic production from the combined Idaho veins is estimated at 1,621,000 ounces of gold with an average head grade of 28.4 g/t (0.74 ounce per ton) gold.

Two holes were wedged from the previous drill hole I-18-12. Drill hole I-19-12A was prematurely abandoned due to the larger than expected depth to the target; drill hole I-19-12B was wedged and drilled at a more favourable orientation and successfully intersected the Idaho No. 1 vein.

A summary of drill hole assay results from I-19-12B on the Idaho No. 1 vein target is presented in the attached table.

The company previously disclosed high-grade gold mineralization in drill holes I-19-13 and I-19-13A by news release dated March 19, 2019:

  • The vein in I-19-13 assayed 5.5 g/t gold over 5.12 metres (0.16 ounce per ton over 16.8 feet).
  • The vein in I-19-13A assayed 90.4 g/t gold over 4.27 metres (2.64 ounces per ton over 14.0 feet).

Subsequent drilling has revealed that these intercepts are on the Idaho No. 2 vein rather than on the Idaho No. 1 vein.

Recent drill holes I-19-14 and I-19-14A both intersected significant quartz veining and alteration in association with the Idaho No. 2 vein system. Assays for these holes are pending and will be released as received.

The reinterpretation of the mineralization in drill holes I-19-13 and I-19-13A as the Idaho No. 2 vein has important implications for exploration and resource potential:

  • The Idaho No. 2 vein and the 52 vein are now interpreted to be the same vein structure, making it a more significant exploration target than previously believed.
  • Drilling and historic mapping indicate a strike length of the Idaho No. 2 vein of up to 550 metres at the elevation of holes I-19-13 and I-19-14.
  • Rise Gold's drill holes through this area have consistently intersected the Idaho No. 2 vein along this strike length. These results were previously disclosed as the 52 vein with assays as high as 149 g/t over 6.8 metres.
  • Previous deep intercept from Rise drill hole B-18-05, which assayed 23.7 g/t gold over 4.5 metres, may represent a downdip extension of either the Idaho No. 2 vein, or possibly the Idaho No. 3 vein. The intercept in B-18-05 would be approximately 1,400 metres downdip from a projection of the Idaho No. 2 vein.
  • The Idaho No. 2 vein, in conjunction with the Idaho No. 3, presents an exploration target of approximately 1,000 metres along strike and approximately 1,400 metres downdip. This is exclusive of the Idaho No. 1 target previously discussed.
  • The untested Idaho No. 5 vein is parallel and behind the Idaho No. 3 vein and could likely be tested with the same holes targeting the Idaho No. 3 vein.

Cymoid loops and new linking vein on Idaho No. 1

Recently drilling has revealed changes in the structural relationships of the Idaho veins at depth.

Current interpretations indicate that the Idaho mine comprises a series of linked veins, or cymoid loops.

This is a common structural feature in Grass Valley gold deposits and important for discovery and definition of the high-grade gold ore shoots. The Idaho No. 3 ore shoot was discovered in 1929 by following the Idaho No. 2 (Dorsey vein) into the footwall of the No. 1 vein.

Recent drilling has revealed that the Idaho No. 2 vein has become a major mineralized structure at depth and is no longer a linking vein between the No. 1 and No. 3 veins. Deep drill holes in the Idaho No. 1 suggest that there may be a new linking vein structure, which may join the Idaho No. 1 vein to the Idaho No. 3 or No. 5 vein. Historic mapping on the lowest level of the mine supports this interpretation with the Idaho No. 5 vein shown moving behind the Idaho No. 3 vein.

The Idaho No. 5 vein has not been tested to date, but there is potential for major ore shoots to form on this structure, in addition to the targets on the Idaho No. 1, No. 2 and No. 3 veins. Continued exploration drilling will further develop the relationships between the multiple mineralized structures at the Idaho-Maryland mine, lead to the discovery of new mineralized ore shoots and further outline the overall resource potential of the property.

Quality control and assay methods

Richard Lippoth, master of science, regulatory subject matter expert, the qualified person for the exploration drill results disclosure contained in this news release, has studied the drill core discussed in this news release and has reviewed the analytical and quality control results. Mr. Lippoth has reviewed and approved the scientific and technical contents of this news release.

Benjamin Mossman, professional engineer, chief executive officer of Rise Gold, is the qualified person for the historic production disclosure contained in this news release. Historic production at the Idaho-Maryland mine is disclosed in the technical report on the Idaho-Maryland project dated June 1, 2017, and available on SEDAR.

Rise has implemented a quality control program for its drill program to ensure best practice in the sampling and analysis of the drill core. This includes the insertion of blind blanks, duplicates and certified standards. HQ-sized and NQ-sized drill cores are saw cut with half of the drill core sampled at intervals based on geological criteria, including lithology, visual mineralization and alteration. The remaining half of the core is stored on site at the company's warehouse in Grass Valley, Calif. Drill core samples are transported in sealed bags to ALS Minerals analytical assay lab in Reno, Nev.

All gold assays were obtained using a method of screen fire assaying. This procedure involves screening a large pulverized sample of up to one kilogram at 100 microns. Any plus-100-micron material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the gold (plus) fraction result. The minus-100-micron fraction is homogenized and two subsamples of 30 grams to 50 grams are analyzed by fire assay with AAS finish. If the grade of the material exceeds 10 g/t, the sample is reassayed using a gravimetric finish. The average of the two results is taken and reported as the Au (minus) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions.

About Rise Gold Corp.

Rise Gold is an exploration-stage mining company. The company's principal asset is the historic Idaho-Maryland gold mine, located in Nevada county, California, United States. Past production of the Idaho-Maryland mine for the period from 1866 to 1955 is estimated at 2,414,000 ounces of gold at an average mill head grade of 17 g/t gold. Historic production at the Idaho-Maryland mine is disclosed in the technical report on the Idaho-Maryland project dated June 1, 2017, and available on SEDAR.

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