Vancouver, British Columbia, September 15, 2015 – Rye Patch Gold Corp (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) announces completion of the drilling and assay portion of its phase-2 metallurgical program at the Company’s 100% owned and controlled Lincoln Hill project located in Pershing County, Nevada, adjacent to the Coeur Rochester mine. Results from the metallurgical test portion of the program will be available in approximately 90 days.
The Phase-1 program was completed and documented as part of the PEA announced on May 21, 2014. Scheduled for 2016, the phase 3 program will utilize ROM material from a 10 tonne bulk sample blasted from the Lincoln Hill deposit.
The purpose of the phase-2 metallurgical program is to identify various ore characteristics using the following tests: composite identification, comminution, gold distribution analysis, bottle roll analysis, column leaching and acid rock drainage.
William C. Howald, President and CEO, stated, “Now that we have collected sufficient material to perform the feasibility-level metallurgical program, the real work begins. Of most importance will be the completion of a gold distribution analysis that will identify the relationship between size fraction and gold liberation. The distribution analysis will assess whether crushing will liberate more gold per tonne of ore versus the run-of-mine (“ROM”) recoveries assumed in the Preliminary Economic Assessment (“PEA”) release in May 2014. Positive results could have a significant upside impact on the deposit economics which are already economically robust.”
Results from the metallurgical drilling program are summarized in the following table.
|Table 1: Lincoln Hill Metallurgical Drillhole Gold and Silver Assay Composites (0.2 g/t AuEq Cutoff)|
|AuEq = Au + Ag/50|
|Drillhole interval is not true thickness|
Completed on July 22, 2015, the diamond-drilling portion of the phase-2 metallurgical test program consisted of six drill holes (LHC-010 through LHC-014A) and totaled 920 metres of PQ and HQ core. Core holes LHC-010 and LHC-011 targeted the eastern side of the deposit, drillhole LHC-012 targeted the center portion, and drill holes LHC-013, LHC-014 and LHC-014A tested the western side. A total of 10.8 tonnes (11.9 tons) of material was collected.
Based on the above reported assay values and rock characteristics, six composites will be assembled and used for the metallurgical program. The composites will be based on two grade classes and three rock types. A high-grade and a low-grade composite will be prepared for each rock type.
Eighteen bottle rolls testing three feed sizes for the high-grade and low-grade composites. The feed sizes will be minus two inch, 3/8 inch and 200 mesh. Column testing will include 6 columns with one series of columns for each feed size in the high-grade category, and a second series of three for the low-grade category.
The comminution testing will include crusher work index and abrasion index. These tests will be performed on each rock type to identify power and steel consumption.
Acid rock drainage testing will be conducted on the three different column sizes. The testing, based on the meteoric water mobility procedure (“MWMP”) as outlined by the Nevada Department of Environmental Protection, will include acid based accounting (ABA), humidity cell testing and Profile 1 analyses including WAD cyanide at bi-weekly intervals.
Rye Patch Gold US Inc. maintains a strict quality control program at all of its projects. After logging and photographing, the core was delivered to McClelland Laboratories in Sparks, Nevada. McClelland processed the core for assaying and will assemble the composites for the metallurgical program described above.
All drill samples were submitted to McClelland Laboratories with assay blanks and gold and silver standards. Rye Patch inserts one quality control sample for every ten samples submitted to the assay laboratory. McClelland Laboratories performed all analysis at their analytical facility located in Sparks, Nevada. Gold analyses are conducted on 1-assay ton prepped samples with gold determined using industry standard fire assay methods with an ICP finish. Gold values above 10 g/t gold are confirmed using fire assay with a gravimetric finish. Silver is analyzed using a two-acid digestion and an ICP finish. Silver values are re-analyzed with a four-acid digestion and ICP finish on all samples with silver values greater than 10-g/t silver. Silver values over 100 g/t silver are re-analyzed using volumetric dissolution.
Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President, 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 Tier 1, well-funded junior mining company led by a seasoned management team that has participated in major discoveries totaling over 100-million ounces of gold. The team is engaged in the acquisition, exploration and development of quality resource-based gold and silver projects along the emerging Oreana trend and the prolific Cortez trend. Benefitting from its strong financial position, the Company’s strategy is to balance development and exploration risk, creating value by:
- Advancing the Lincoln Hill project toward production;
- Pursuing a world class discovery – Garden Gate and Patty – contiguous to and on strike with Barrick’s Goldrush deposit; and
- Seeking new project opportunities and accretive transactions.
The Company’s cash and cash flowing royalty allow for progress without dilution to shareholders. For more information about the Company, please visit our website at www.ryepatchgold.com.
William C. (Bill) Howald, CEO & President
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 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: 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 (and, in respect of the Coeur Rochester mine 3.4% NSR, the reliability of calculation of Coeur’s mineral resources and reserves); 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.
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.