Jan 20 2011
Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) explains the geologic and resource potential of the recently identified Jefferson zone at Lincoln Hill.
As announced on January 12, 2011, the Company identified a new gold and silver zone on the Lincoln Hill property. The Jefferson zone's geophysical signature can be traced for 1.5 kilometres. As reported on January 12th, drilling along a one-kilometer section of the Jefferson zone returned significant gold and silver assays associated with a northwest oriented dyke system.
The Jefferson zone has similar geologic characteristics to the Lincoln Hill resource. Within the Lincoln Hill resource, gold and silver is associated with a northwest oriented high-angle dyke system. Where the dykes cross cut receptive rhyolite units, the mineralization is flat lying. The flat lying strataform zone helps to build tonnes within the resource area, and is where the bulk of the gold and silver reside. The rhyolite beds are folded with fold axis oriented to the northeast. At the intersection of the receptive rhyolite unit, the dike, and the fold axis, high-grade gold and silver have been drilled. An example of this style of mineralization was encountered in RC drillhole LR-013 which returned 27.2 g/t gold and 34 g/t silver over 21.3 metres starting at 23 metres, and core hole, LRC-002, returned 21.19 g/t gold over 7.0 metres starting at 25.3 metres. The new Jefferson zone has similar potential within the receptive rhyolite lithologies. A program to test the flat-lying rhyolite zones is being designed.
The ore controls and lithologies within the new Jefferson zone are similar to the main Lincoln Hill resource. The strike length of the Jefferson zone dyke system as known today, is twice the length of the Lincoln Hill resource area. Significant expansion and upside potential exists along the Jefferson zone, and additional work is underway to capitalize on this newly identified gold and silver zone.
"The strike length of the Jefferson mineralized zone is twice as long as the known Lincoln Hill resource. The potential for the flat-lying rhyolite zone could allow the Jefferson zone to build tonnes as seen in the Lincoln Hill resource. The team is designing a drill program to test the extent of the Jefferson zone as well as target the potential flat-lying zones. Further synthesis of the geophysical data may indicate additional dyke systems and drill targets", stated William C. (Bill) Howald, the Company's President and CEO.
On January 12th, Rye Patch reported results of the Lincoln Hill drill program. The Company completed 15 drillholes totaling 2,403 metres using a reverse circulation drill rig. The significant gold and silver assays were summarized using a 0.5 g/t gold and gold equivalent (Aueq) assay cut off where Aueq equals the gold assay plus the silver assay divided by 50 (Aueq. = Au + (Ag/50)). The successful program identified the Jefferson zone, and a follow-up program is being designed to address the new discovery.
As announced on May 18, 2010, May 11, 2009, and June 2, 2009 in respect of the Lincoln Hill, Wilco, and Jessup projects, Rye Patch Gold's resource inventory now totals 1,182,780 ounces of gold and gold equivalent in the measured and indicated category plus 2,727,100 ounces of gold and gold equivalent in the inferred category.
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 verified the information contained in, and has reviewed and approved the contents of, this news release.