- Location: Near Lovelock, Nevada, 160 km (100 miles) NE of Reno
- Area: 11.65 sq km (4.5 sq miles)
- Minerals: Gold, Silver
- Ownership: 100%
- Status: Exploration with NI 43-101 resource
Significant Resource Base Open to Expansion
The Lincoln Hill project (see map) represents an outstanding bulk-tonnage deposit with additional high-grade underground and surface targets. Rye Patch acquired the Lincoln Hill claims in 2007 based on the geological setting and strategic location near recent gold discoveries at the company’s Wilco Project, located approximately ten kilometres to the west. Exploration and development by Rye Patch since 2008, including extensive drilling, technical work, metallurgical evaluations and a Preliminary Economic Assessment (PEA), have produced positive results and produced a Measured & Indicated (M&I) NI 43-101 gold/silver resource.
The current Lincoln Hill Resource, reported in the May 2014 PEA from Metal Mining Consultants (MMC), consists of the following:
This PEA indicated a strong, positive and potentially economic performance of a heap leaching facility at Lincoln Hill in the current metal price environment. The project performance is most sensitive to gold price and gold recovery. Metallurgical data to this point indicates economic extraction of metals is not complicated and uses standard run-of-mine, heap-leach process technology.
Based on recommendations from MMC, Rye Patch is now considering options for moving the Lincoln Hill Project to the preliminary feasibility level.
The PEA for the Lincoln Hill project was prepared by Metal Mining Consultants Inc. (“MMC”) under the direction of Scott E. Wilson, CPG and incorporates the work of a number of industry-leading consultants, all of which are Qualified Persons (as defined under National Instrument 43-101) and are independent of Rye Patch.
The Company cautions that the PEA is preliminary in nature in that it is based on Inferred Mineral Resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.