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     820  0 Kommentare Rye Patch Discusses Exploration Programs and Budget for 2014

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 14, 2014) - Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the "Company" or "Rye Patch") is pleased to announce its programs and budget for 2014.

    Highlights:

    • Drilling programs are planned along the Oreana (Lincoln Hill/Gold Ridge and Wilco), and Cortez (Garden Gate Pass and Patty) trends;
    • Drilling has started on the eastern target at Garden Gate Pass;
    • Drill programs will run from February to September;
    • US$3.8 million in exploration is planned at four project locations - US$2.0 million at the Oreana trend and US$1.8 million at the Cortez trend; and
    • The Rochester mine NSR royalty is anticipated to more than cover all 2014 exploration expenditures.

    Rye Patch Gold has approved a US$3.8-million 2014 budget for exploration and drilling programs along the Oreana and Cortez trends in Nevada. The exploration programs will include drilling up to 10,000 metres in four project locations. A summary of the program is as follows:

    Cortez Trend:

    Garden Gate Pass: Drilling at Garden Gate Pass has started with mud rotary drilling on the eastern target of the property. Gravity and seismic geophysical surveys have been interpreted and suggest a carbonate ridge on the eastern side of the project area. Drilling will confirm whether the carbonate is the prospective Wenban Formation that hosts Barrick Gold's Goldrush deposit (15-million ounces of gold) located roughly 3 kilometres to the north. The drilling is on the projection of Barrick's drill pattern. A total of US$550,000 is planned on the project.

    Patty: Drilling in 2012 and detailed surface exploration work in 2013, have outlined two priority targets on the Patty property. The first is the geologic extension of the Goldrush anticline that host gold mineralization at Barrick's Goldrush deposit located 10 kilometres to the north. The target is located in the northwestern portion of the property.

    The second target area is located on the southwest portion of the property along a major structural feature. Widespread Carlin-style geochemistry (gold, arsenic and antimony) has been returned from surface rock-chip sampling including a 9.4 g/t gold sample from the fault zone. Drilling will target carbonate lithologies along the structural zone. The target is very similar to Cortez Hills located 20 kilometres northward along a similar structural zone.

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    Verfasst von Marketwired
    Rye Patch Discusses Exploration Programs and Budget for 2014 VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 14, 2014) - Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the "Company" or "Rye Patch") is pleased to announce its programs and budget for 2014. Highlights: …