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     820  0 Kommentare Rye Patch Discusses Exploration Programs and Budget for 2014 - Seite 3

    The Rhyolite Hill target is located immediately north of the historical Willard pit, covering an area of about 700 by 200 metres of strongly silicified and mineralized rhyolite outcrops, previously unexplored. A total of 88 surface rock-chip samples were collected from this area, Five rock samples collected along the contact zone between the main rhyolitic feeder zone and the Triassic sediments, returned between 2.1g/t Au and 7.46 g/t Au and 1.1g/t Ag and 31g/t Ag. This intrusive structural zone extends for a strike length of about 600 metres and represents the north extension of a major basement fault, controlling the gold mineralization at the old Willard Hill pits.

    The Andesite target area is located between the Section Line and Colado resource areas, within the two Whittle pits located one kilometre apart. The drilling completed at the margins of these resource areas indicated the distinct possibility of correlation of the gold mineralization located along the contact zone between the siltstone and claystone units at both Colado and Section Line. This favourable zone is covered at the target area by an altered andesite plate, anomalous in gold, silver and trace elements. Historical drilling in the area consisting of scattered shallow drillholes intersected numerous anomalous gold intervals with several intercepts ranging between 0.2 and 7.4 g/t Au over 1.5 to 3 metres. These promising geochemical data from the andesite plate are indicative of "leakages" from an underlain mineralized zone, probably representing the Colado and Section Line mineralized horizon.

    Drilling will commence in April with a budget of US$850,000.

    A rough break down of exploration expenditures by trend is US$2.0 million along the Oreana trend, and US$1.8 million along the Cortez trend. In addition, the Oreana preliminary economic analysis is on track for a Q1 delivery. The Rochester mine NSR royalty is anticipated to more than cover all 2014 exploration expenditures.

    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.

    Rye Patch Gold Corp. is a Tier 1, well-funded junior mining company with a royalty revenue stream from the operating Rochester silver mine and significant gold and silver resources, all located in the mining friendly state of Nevada, USA. The Company's seasoned management team is engaged in the acquisition, exploration, and development of quality resource-based gold and silver projects. Rye Patch Gold US Inc. controls over 75 square kilometres (30 sq. miles) of land, and has a 3.4 % Net Smelter Return (NSR) royalty from the Rochester silver mine along the Oreana trend located in west-central Nevada. The Company is aggressively developing gold and silver resources along this emerging trend, utilizing existing funds and cash flow from the NSR royalty which is fully leveraged to the price of gold and silver. In east central Nevada, Rye Patch Gold US Inc. is exploring 66 square kilometres of exploration land along the prolific Cortez trend contiguous to Barrick's new Goldrush deposit. The Company has established gold and silver resource milestones and time frames in order to build a premier resource development company. For more information about the Company, please visit our website at www.ryepatchgold.com.

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    Verfasst von Marketwired
    Rye Patch Discusses Exploration Programs and Budget for 2014 - Seite 3 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: …