About ryepatchgold

This author has not yet filled in any details.
So far ryepatchgold has created 31 blog entries.

RYE PATCH GOLD ANNOUNCES FLORIDA CANYON NOVEMBER PRODUCTION • 3,491 OUNCES OF GOLD PRODUCED

Vancouver, British Columbia, December 11, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports November production metrics at the Company’s flagship Florida Canyon mine in Pershing County, Nevada.

Production Highlights for the month of November 2017 as compared to the Company’s preliminary economic assessment “plan” (see description below) are:

  • Placed 8,059 ounces of gold on the pad (23 percent above plan);
  • Produced 3,491 ounces of gold and 1,825 ounces of silver, 20 percent higher than October;
  • Mined 730,900 tons of ore (21 percent above plan);
  • Crushed 728,900 tons of ore (21 percent above plan);
  • Maintained a grade of 0.011 opt of gold including over liner material; and
  • Achieved a low strip ratio of 0.45 for the month (74 percent below plan).

“Production reaching 3,500 ounces represents a key milestone in the continuing upward production trend.  At this point mining operations now begin to contribute positive cash flows to the Company,” stated William Howald, the Company’s President and CEO.

Howald continued, “Three of the four new 785 haulage trucks are working with the fourth to be operational in early December.  Over liner material has been laid over an extent that maximizes leach cell size and allows for a primary leach cycle of 45 days before stacking the second lift.   Over liner will be completed in late December.  The positive trend is continuing in Q4.”

“The October and now November production results confirm the Florida Canyon mine is ramping up to commercial production in Q1 2018,” he added.

“Plan” refers to the Company’s preliminary economic assessment effective March 16, 2016 and dated January 27, 2017 titled “Amended Technical Report – Preliminary Economic Assessment for the Florida Canyon Mine, Pershing County, Nevada” available on the Company’s website and under the Company’s profile at www.sedar.com.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 
Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend‑scale platform with mining operations, resource projects and exploration upside.

The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value‑added potential. For more information, 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
investorrelations@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, timeline for commercial production, future events and conditions and other statements that are not historical facts, all of which are based on assumptions and subject to various risks and uncertainties. The Company’s actual results, programs and financial position could differ materially from those anticipated in such forward‑looking statements as a result of the following assumptions and risk factors, some of which may be beyond the Company’s control. These assumptions and risk factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and achievement of commercial production; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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.  As a result, the Company cannot guarantee that the Florida Canyon mine redevelopment and achievement of commercial production will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release.

December 11th, 2017|

RYE PATCH INTERSECTS SUBSTANTIAL GOLD MINERALIZATION BENEATH FLORIDA CANYON OXIDE DEPOSIT

Vancouver, British Columbia, November 29, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports results of scout drilling of the sulfide zone at the Company’s flagship Florida Canyon mine in Nevada.

Highlights of sulfide scout drillholes:

  • Drillhole FCR-17-016 contained two gold zones including 70.1 metres grading 2.94 grams per tonne (g/t) gold and 56.4 metres grading 2.60 g/t gold;
  • FCR-17-015 contained three gold zones including 35.1 metres grading 2.08 g/t gold, 57.9 metres grading 1.30 g/t gold, and 15.2 grading 1.08 g/t gold.

William Howald, Rye Patch President and CEO said, “We are extremely pleased with the results of this scout drilling program. Based on the drill results and our exploration model, management believes the sulfide blanket beneath Florida Canyon could host a substantive high-grade ore body beneath the oxide zone.  By quantifying the sulfide mineralization, Florida Canyon has the initial makings of a world-class ore body located in Nevada.”

The reverse circulation (RC) drill program was designed to test the distribution of the sulfide body and validated the current geologic model and ore controls.  The three gold zones identified in drill hole FCR-17-015 consist of 35.1 metres grading 2.08 g/t gold starting at 88.4 metres, 57.9 metres grading 1.30 g/t gold starting 129.5 metres, and 15.2 grading 1.08 g/t gold starting at 236.2 metres, all using a 1.0 g/t gold cut off.

The drillhole was located in an untested sulfide area between the Central and Main pits.  The intersections confirm the notion that the mineralization has a similar structural geometry to the oxide zone thus connecting the two zones.  The multiple intercepts demonstrate a substantial thickness and breadth of the sulfide zone.

Using a 1.0 g/t gold cut off, FCR-17-016 identified two gold zones including 70.1 metres grading 2.94 g/t gold starting at 79.2 metres and 56.4 metres grading 2.60 g/t gold starting at 164.6 metres.  The drillhole was located along the northern portion of the sulfide body where existing assay information suggested lower grade in the sulfide zone.  The drillhole shows the historic data will need more off-set and twin drillholes to confirm grade distribution and tenor.  The results are well above the predicted grade and thickness of the northern sulfide area and are a promising surprise.

A follow-up core program is warranted and will use the new information to better target and quantify the down dip and lateral extensions of the sulfide body.

Previous owner of the Florida Canyon mine, Pegasus Gold, completed an internal report titled “Sulfide Project Pre-feasibility Study” dated July 18, 1996 on the sulfide mineralization at Florida Canyon.  A total of 262 drillholes (241 RC and 21 core) touched or penetrated the sulfide body and yielded an average grade of 2.36 g/t gold in the sulfide zone with gold values as high as 100 g/t Au (2.93 opt Au) in a northeast oriented structural zone.  Pegasus completed a resource estimate within a Whittle pit design at US$400 gold price, and a series of metallurgical tests including floatation, pressure oxidation, roasting, and bio-oxidation.

The metallurgical test work showed an overall recovery of 90 percent by flotation with 94 percent of the gold reporting to a sulfide concentrate.  Additional metallurgical test work will be done by Rye Patch on material from the drill program.  A Qualified Person has not done sufficient work to classify this historical information as a current mineral resource or mineral reserve and the Company is not treating this historical information as a current mineral resource or mineral reserve.

Drilling in the Central area has expanded the oxide resource.  Drillholes FCR-17-001 to FCR-17-014 and FCR-17-017 and FCR-17-018 were drilled in the Central pit area where the block model showed waste material but mining is encountering gold above cut-off grade.  The drillholes were successful in changing the waste designation to ore and expanding the oxide resource, and the area is currently being mined.

All drillhole sampling was conducted under the supervision of the Company’s project geologists, and a strict chain of custody from the project to the sample preparation facility was implemented and monitored. The RC samples were delivered to American Assay Laboratory’s preparation facility in Reno, Nevada, where they were crushed and pulverized. The pulverized material was digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy finish on a 30-gram assay split. All other elements were determined by inductively coupled plasma analysis. Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. A blank, duplicate or a certified standard was inserted approximately every 10th sample.

IDS Directional Drilling and Borehole Surveying of Elko, Nevada completed gyroscopic downhole surveys on all drillholes.  The Florida Canyon mine survey team completed final collar locations using differential GPS.

William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend‑scale platform with mining operations, resource projects and exploration upside.

The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value‑added potential. For more information, 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
investorrelations@ryepatchgold.com
Tel.: (604) 638-1588

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, timeline for commercial production, future events and conditions and other statements that are not historical facts, all of which are based on assumptions and subject to various risks and uncertainties. The Company’s actual results, programs and financial position could differ materially from those anticipated in such forward‑looking statements as a result of the following assumptions and risk factors, some of which may be beyond the Company’s control. These assumptions and risk factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and achievement of commercial production; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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.  As a result, the Company cannot guarantee that the Florida Canyon mine redevelopment and achievement of commercial production will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

November 29th, 2017|

RYE PATCH GOLD CELEBRATES FIVE YEAR SAFETY MILESTONE AT FLORIDA CANYON

 Vancouver, British Columbia, November 9, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) announces the Florida Canyon mine in Nevada has achieved the significant milestone of five continuous years without a lost-time accident.

Rye Patch Gold acquired the Florida Canyon mine in 2016 and began production in the spring of 2017 continuing the safety culture under the leadership of General Manager Mike Iannacchione, PE. “Safety is a cornerstone of success and the team at Florida Canyon has built a magnificent foundation to which Rye Patch can continue to create successful operations,” said President and CEO William Howald.

This summer Florida Canyon was recognized by the Nevada Mining Association with the top safety award in the small mine category.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend‑scale platform with mining operations, resource projects and exploration upside.

The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value‑added potential. For more information, 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
investorrelations@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

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.

Download the News Release.

November 9th, 2017|

RYE PATCH GOLD ANNOUNCES FLORIDA CANYON OCTOBER PRODUCTION

  • 9,100 AU OZ placed on pad
  • 2,911 AU OZ produced

Vancouver, British Columbia, November 7, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports that it has completed a record setting month at the Company’s flagship Florida Canyon mine in Pershing County, Nevada.

Production Highlights for the month of October 2017 as compared to the Company’s preliminary economic assessment “plan” (see description below) are:

  • Placed 9,100 ounces of gold on the pad (48 percent above plan);
  • Produced 2,911 ounces of gold and 1,626 ounces of silver;
  • Mined 815,400 tons of ore (35 percent above plan);
  • Crushed 821,100 tons of ore (37 percent above plan);
  • Maintained a grade of 0.011 opt of gold including over liner material; and
  • Achieved a low strip ratio of 0.43 for the month (77 percent below plan).

“The Florida Canyon mine overwhelmingly outperformed its plan in a safe and prudent fashion in October and is successfully showing capacity well above its Q4 production goals. We are benefiting from the larger leach cell size with gold now being produced at increasingly higher rates,” stated William Howald, the Company’s President and CEO.

“Given the gold ounces placed in October,” Mr. Howald added, “the addition of the new 785 haulage trucks planned for November, and the completion of the over liner in early December, the mine is on a positive trend that should continue through Q4.”

“We are on track to achieve commercial production at Florida Canyon in Q1 2018,” he added.

At the end of October, the Company reports $16.5 million in its treasury.

“Plan” refers to the Company’s preliminary economic assessment effective March 16, 2016 and dated January 27, 2017 titled “Amended Technical Report – Preliminary Economic Assessment for the Florida Canyon Mine, Pershing County, Nevada” available on the Company’s website and under the Company’s profile at www.sedar.com.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp.

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, 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
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company’s 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 Company’s control. These factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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. As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

November 7th, 2017|

RYE PATCH GOLD RENEGOTIATES BONDS, RESULTS IN $6.2 MILLION REFUND

Vancouver, British Columbia, October 30, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports that it has renegotiated the terms for its approximately C$49 million (US$32.4 million) of reclamation bonds for the Company’s flagship Florida Canyon mine and the Standard Mine in the state of Nevada.

Significantly, the new terms result in a material reduction in the portion of the reclamation bond that the Company is required to fund through cash reclamation deposits.  This funding requirement has been reduced from 40 percent of the bond amount to 25 percent, resulting in a cash refund to the Company of approximately C$6.2 million (US$4.9 million).

“As a consequence of reducing the risk profile of the Florida Canyon Mine since acquisition, Rye Patch has been successful in securing a significantly lower cash requirement for its reclamation bonds. In addition to generating a non-dilutive cash in-flow today, it will also reduce that aspect of our sustaining capital going forward,” commented Tony Wood, Chief Financial Officer.

In Nevada, the United States Bureau of Land Management require a company to place reclamation bonds in trust as security relating to a company’s site closure obligation. The obligation is satisfied by a combination of reclamation deposits and reclamation insurance policies.

About Rye Patch Gold Corp.

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, 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
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company’s 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 Company’s control. These factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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. As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

October 30th, 2017|

RYE PATCH OUTLINES PROGRAM TO EXPAND OXIDE RESOURCES AND EXPLORE SULFIDE POTENTIAL AT FLORIDA CANYON AND LINCOLN HILL

RYE PATCH OUTLINES PROGRAM TO EXPAND OXIDE RESOURCES AND EXPLORE SULFIDE POTENTIAL AT FLORIDA CANYON AND LINCOLN HILL

 Vancouver, British Columbia, October 16, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) outlines a three-year program to expand oxide resource and delineate sulfide potential along the Oreana trend in west-central Nevada.  The program is designed to increase measured and indicated oxide resources at Florida Canyon and Lincoln Hill and quantify and deliver a sulfide resource beneath the Florida Canyon oxide deposit.  A Phase 1 10,000 metre expansion drilling campaign at the Florida Canyon mine is planned which seeks to increase the oxide resource and to test and confirm the grade, character and extent of the sulfide mineralization beneath the oxide ore body.

The initial drill program will consist of 1,200 metres of core and 8,800 metres of reverse circulation drilling.  Drillhole depths will range between 150 to 300 metres for the sulfide program and 60 to 180 metres for the oxide program.  The estimated cost of the phase-1 campaign is US$1 million, and the program commenced in early October.

At the end of the three-year program, Rye Patch anticipates delivering significant additional oxide resources at Florida Canyon and Lincoln Hill, and a sulfide resource beneath the Florida Canyon oxide deposit.  A portion of the sulfide body above the water table may also lend itself to an accelerated mine and processing option for the Company.

William Howald, the Company’s President and CEO noted, “Over the history of the Florida Canyon mine, a total of 3.5-million ounces of gold from oxide material has been placed on the historic leach pad and the Company is currently mining a 1.12-million ounces of measured and indicated oxide gold resource.  Based on our exploration model, Management believes the sulfide resource beneath Florida Canyon has a similar number of ounces of gold but at a much higher grade.  If our exploration model is correct, the combined oxide and sulfide mineralization could make Florida Canyon a world-class deposit in Nevada.”

Sulfide Program

The core program will focus on the sulfide deposit beneath the Florida Canyon oxide resource.  The objective of the drill program is to establish the overall size, extent and thickness of the sulfide body and collect material for additional metallurgical testing.

In 1996, Pegasus Gold completed an internal report titled “Sulfide Project Pre-feasibility Study” dated July 18, 1996 on the sulfide mineralization at Florida Canyon.  A total of 262 drillholes (241 RC and 21 core) touched or penetrated the sulfide body and yielded an average grade of 2.36 g/t gold in the sulfide with gold values as high as 100 g/t Au (2.93 opt Au) in a northeast oriented structural zone.  Pegasus completed a resource estimate within a Whittle pit design at US$400 gold price, and a series of metallurgical tests including floatation, pressure oxidation, roasting, and bio-oxidation.  The metallurgical test work showed an overall recovery of 90% with flotation with 94% of the gold reporting to a sulfide concentrate.  Additional metallurgical test work will be done by Rye Patch on material from the drill program.  A Qualified Person has not done sufficient work to classify this historical information as a current mineral resource or mineral reserve and the Company is not treating this historical information as a current mineral resource or mineral reserve.

The core program will also test the distribution of the sulfide body and validate the current geologic model and high-grade ore controls.  Core holes will be located to test the down dip extension of sulfides between the Radio Tower and Central pits; the down dip extension west of the Main pit; and potential structural zone east of the Radio Tower and Central pit areas.

An additional 2,700 metres of reverse circulation drilling will target the down dip potential and structural controls on the sulfide zone to help validate the geologic model.  The RC program will fill in gaps between historic sulfide drilling programs to see if the mineralization connects between areas which, if positive, could have a dramatic impact on the potential size of the sulfide mineralization.

Oxide Program

The objective of the oxide program is to expand and upgrade the current oxide resource and step out along structural zones.  A total of 5,500 metres of drilling is planned with drillhole depths ranging between 60 and 180 metres.  The program will include upgrading inferred material within the designed pits to measured and indicated adjacent to the Radio Tower and Central pit areas.   A major portion of the program will be step-out drilling along low- and high‑angle structural trends.

The primary drill target is the contact between Grass Valley siltstone and Natchez Pass limestone. The contact is a low-angle fault (thrust fault) which controls mineralization in Radio Tower and Central pits.  The zone is significant within the mine and may represent a regional exploration target.  Drilling will target jasperioid alteration and hydrothermal breccias within the thrust fault zone.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada focused, Tier 1, precious metal mining company engaged in the mining, development and exploration of a 180 square kilometre land package along the prospective Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the Florida Canyon Gold mining operation, Rye Patch now controls a trend‑scale platform with mining operations, resource projects and significant exploration potential. The combination of mining and a growth profile along a major Nevada gold trend positions Rye Patch to become an emerging North American mid-tier precious metal producer. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors For additional information contact:
‘William Howald’ Rye Patch Gold Corp
William C. (Bill) Howald, CEO & President info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future production and deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company’s 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 Company’s control. These factors include, but are not limited to: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations, opinions and assumptions of the Company’s management on the date the statements are made including, but not limited to, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, and mining operations and production to be completed in accordance with management’s expectations.  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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all. 

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.

Download the News Release

October 16th, 2017|

RYE PATCH GOLD ANNOUNCES FLORIDA CANYON MINE PRODUCTION

Vancouver, British Columbia, October 11, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports its production results for the third quarter of 2017 (Q3) at the Company’s flagship Florida Canyon mine in the state of Nevada.

Production Highlights for Q3 (compared to Q2, 2017)

  • Gold production increased 13 percent to 7,982 ounces (ozs);
  • Gold sent to pad increased by 45 percent, averaging 7,125 ozs per month;
  • Ore tons mined increased by 57 percent for the quarter, averaging over 810,000 tons per month (tpm);
  • Strip ratio decreased 56 percent to 0.54;
  • Ore tons crushed increased by 29 percent, averaging over 660,000 tpm;
  • Gold grade increased by 10 percent to 0.011 ounces per ton (opt) (combined ore and sub-grade overliner);
  • Gold ounces placed on the South Heap Leach Pad (SHLP) in Q3 represents 52 percent of the total gold to date; and
  • Production transitioned from the first starter cell (Section 1A) of the SHLP on to the main part of the pad (Section 1B).

“Gold production realized in Q3 was below expectation for the reasons outlined in our September 14th news release” stated Rye Patch President and CEO William C. Howald.  “The corrective measures put in place by management as described in that news release are now having a positive impact on improving gold output with the goal of realizing commercial production in Q1, 2018. Other aspects of the mine are performing well above plan. We are pleased with the improved fleet availability, mining and crushing rates, and the positive reconciliation in grade and tons with the resource block model.  In addition, the gold recovery is behaving as modelled.” added Howald.

Mining, Ore and Overliner Placement

Mining, strip ratio and crusher rates continue to improve and are now consistently outperforming plan. During the period, a 57 percent increase in ore tons mined above plan was achieved, and an overall reduction in waste tons positively affected the strip ratio.

Ore tons crushed also showed a positive increase. The crusher averaged 660,000 tons per month during Q3. This is a 29 percent increase over the plan of 600,000 tons per month.

As outlined in the September 14, 2017, news release, ore and overliner are currently being stacked simultaneously. The operation expects to complete the overliner on section 1B of the SHLP by the middle of December followed by ore stacking only. As each section of overliner is approved, ore is stacked and readied for irrigation.

Chart 1

Gold Ounces Placed on SHLP, Gold Grade, and Gold Dore’ Poured

A combination of the crusher exceeding plan and a gradual increase in combined grade has resulted in an increase of 45percent more ounces being placed on the pad in Q3 compared to Q2.  7,125 gold ounces per month were placed on average for Q3, and year to date, a total of 40,789 ounces have been placed.

Overall grade continues to increase, is up 10 percent this quarter, and will remain steady until the sub ore grade overliner is completed in December. (The overliner material is typically below ore grade as it is selected primarily because it meets strict design criteria as the rock that creates a drain blanket between the ore and the plastic liner.) The overall grade is expected to increase when placement of the overliner on Section 1B is complete.

Chart 2

The transition from the winter contingency pad, Section 1A, to the main part of the SHLP (Section 1B) has meant that we have been able to start building out larger cells, which will in turn lead to higher and more stable monthly recoveries. As a result, over half of all the ounces placed (52 percent) for the year on the SHLP occurred in Q3 (21,376 ounces from 1.98 million tons).

The first of the larger cells was placed under irrigation in mid-September and will begin to yield gold from the first part of its leach curve in October. As more of the larger leach cells are placed through to the end of the year and we begin to experience the layering impact of each cells’ recovery curve, we anticipate that gold ounces and total recoveries will achieve commercial production goals by Q1, 2018.

Chart 3

Gold dore’ production continues to demonstrate a positive upward trend with a quarter on quarter increase of 13 percent. The leach kinetics are showing consistency and tracking with the historical recovery data from the original Florida Canyon heap leach pad.  As discussed above, the transition to the main Section 1B of SHLP will result in higher levels of production and fewer fluctuations month to month.

Chart 4

The spot price of gold during the third quarter ranged from US$1,212.20 on July 7, 2017 to a high of US$1,348.60 on September 7, 2017. The average spot price for the quarter was US$1,277.84. As a result of the Company’s forward sales contract, Rye Patch realized gold sales price of US$1,280.33 for the quarter.

Gold is sold into the forward sales contract when spot gold prices are below US$1,275, and sold in to the spot gold price when gold is above US$1275. The forward sale contract has a 5-year term with 150,000 sold forward. For the quarter, a total of 8,320.43 ounces of gold was delivered into the forward sales contract leaving approximately 130,000 ounces of gold remaining.

Company made its first repayment to Macquarie Bank under the current terms of its Credit Agreement.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend‑scale platform with mining operations, resource projects and exploration upside.

The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, 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
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company’s 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 Company’s control. These factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

October 11th, 2017|

RYE PATCH GOLD PROVIDES FLORIDA CANYON MINE OPERATIONS UPDATE

Vancouver, British Columbia, September 14, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) provides the following update on operations at the Company’s flagship Florida Canyon mine in the state of Nevada.

  • Mine production in July and August totalled approximately 1.7 million tons, which exceeded budgeted production for those months by 48%;
  • Maintenance issues with haulage trucks have been resolved and all eleven 785-CAT haul trucks were operational during July and August. Availability was 84% in July. All loading equipment is fully operational.  Four 785C-Cat haul trucks are expected to arrive in Q4;
  • Crushed tons exceeded budget by approximately 16% for July and August with a total of approximately 1.36 million tons placed on the leach pad during those months;
  • The grade of material placed on the leach pad was 13% higher for the month of July than predicted and at the predicted grade for August. The transition from the Phase 1A pad to Phase 1B is now complete.
  • Both the acid wash circuit and the regeneration kiln have been online and fully operational since mid-July;
  • The rate of gold recoveries is consistent with modelled recovery curves.

Ounces of gold produced as a proportion of ounces placed on the pad has lagged behind our original projections. This is a timing issue which relates to the placement of over liner material (which is gold-bearing) on the pad and is not an issue of grade or metallurgical recovery.  Over liner is placed in sections as a rolling front ahead of the ore.  Leaching occurs after the ore is placed on the over liner with the levels of overall recovery gradually increasing until the over liner is completely covered with ore.  For the months of July and August, over liner was placed on Phase 1B of the pad while ore was placed and leached only on Phase 1A.   This has resulted in a deferral of ounces recovered by a lag period of 2 to 3 months which pushes out our expectations for commercial levels of recovery to Q1 2018.

“Although the time lag in production of gold ounces is our first bump in the road to what has been a remarkably successful ramp-up, we have made modifications in our planning and execution to speed up the process,” said William Howald, Rye Patch President and CEO. “With mining and crushing outperforming expectations by a significant margin, the production of gold ounces is anticipated to accelerate in the coming months to match the tonnage placed on the leach pad.”

Complete production results for Q3 will be announced by the Company in the first week of October.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, 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
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company’s 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 Company’s control. These factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

September 14th, 2017|

RYE PATCH GOLD REPORTS Q2 2017 FINANCIAL RESULTS

Provides Florida Canyon Mine Update

Vancouver, British Columbia, August 24, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to announce that its financial statements and management’s discussion and analysis for the second quarter (“Q2”) ended June 30, 2017 have been filed with the securities regulatory authorities and are available at www.SEDAR.com and on the Company’s website.

The following update is provided for the Company’s flagship Florida Canyon mine in Nevada. All amounts are shown in U.S. dollar unless otherwise noted.

  • Poured first gold from the new South Heap Leach Pad at the end of April 2017;
  • Completed phase one of the new leach pad with ore stacking on portion 1B ongoing;
  • Stacked 560,000 tons of ore during Q2;
  • Improved strip ratio from 2.80:1 in Q1 to 1.25:1 in Q2;
  • Increased crusher through-put, with crusher out-performing plan by 20 to 40 percent;
  • Improved availability and utilization of the haulage fleet;
  • Increased carbon plant efficiencies after rebuilding kiln and replacing acid wash plant;
  • Mined and processed ore grades within five to 10 percent of modelled tons and grade;
  • Completed leach pad audit which showed gold recovery within one percent of modelled recoveries;
  • Recruited mine operators and technical staff to build workforce to near 100 percent capacity;
  • Sold 100 percent of gold produced into the forward sales contract at $1,275 per ounce of gold, and;
  • Purchased four 785C haulage trucks for $3.67 million, augmenting the current fleet and enabling planned production increases.
  • At the end of the period the Company had cash and cash equivalents of Cdn.$22 million and had drawn down Cdn.$28.9 million of its credit facility.

Rye Patch President and CEO Bill Howald said, “During the quarter we welcomed Mike Iannacchoine as the Florida Canyon mine manager who is leading the team through the final stages of ramp-up into commercial production.”

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, 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
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company’s 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 Company’s control. These factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

August 24th, 2017|

RYE PATCH GOLD INCREASES HAULAGE CAPACITY AT FLORIDA CANYON

Mine Advances Expansion Plans

Vancouver, British Columbia, August 18, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) announced today that it has secured financing for the purchase of four additional Caterpillar 785C haul trucks for a total of US $3.67 million dollars, growing the Florida Canyon truck fleet to fifteen.

“This purchase will enable the Company to increase its production by taking advantage of excess capacity at the crusher. The crusher is routinely operating at 20 to 40 percent over plan requirements and is permitted at 60 percent over plan at 1,600 tons per hour, effectively bringing the 2018 expansion forward,” William Howald, Rye Patch CEO commented.

The purchase price will be financed by Caterpillar Finance, consisting of a 20 percent down payment with the balance repayable in equal installments over 48 months bearing annual interest at 6.95 percent. A portion of the $10 million equity raised by the Company in June 2017 will be applied in this purchase consistent with the use of proceeds described in the prospectus.

The trucks are in excellent condition with full service histories and have an average of 30,000 hours on each. Expected delivery will be in early fourth quarter 2017.

About Rye Patch Gold Corp.  

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential. For more information, 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
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company’s 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 Company’s control. These factors include: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.

Forward-looking statements are based on the expectations and opinions of the Company’s 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

August 18th, 2017|