Rye Patch Initiates Wilco And Lincoln Hill Drill Programs

 

 

VANCOUVER, BC - Rye Patch Gold Corp reported new drilling programs for the Lincoln Hill and Wilco projects in Nevada are scheduled to begin in early September. The Company has secured the service of reverse circulation (RC) drill rigs and a core drill from Boart Longyear. Permitting has been granted on private lands at Wilco and being applied for on public lands at Wilco and Lincoln Hill.

The cost of the phase 1 programs will total US$1 million for the two projects with the majority of the funds being directed toward high-grade gold and silver targets on the Lincoln Hill project. The program at Wilco will be focused on the North Basin. The phase 1 programs will start in early September and should be completed by mid-November, and additional programs will follow based on results. An additional $500,000 has been ear marked for the potential follow up programs.

At Lincoln Hill in Humboldt Range, Nevada, a reverse circulation drill and a core drill will be employed to examine the newly defined 14 high-grade gold targets. Using a 2 parts per million (ppm) gold cut off, surface rock-chip channel sampling within the high grade zones has returned gold values ranging between 2 ppm and 59 ppm gold. Higher-grade samples represent approximately 10% of the surface rock-chip data. In addition, samples contain significant silver values.

Although the Lincoln Hill drilling is directed toward high-grade gold and silver zones, it will also cut sections of the surface halo mineralisation adjacent to the high grade. The surface halo mineralisation is comprised of a series of stockwork zones covering a large portion of the Lincoln Hill property. The phase 1 program will consist of 2,500 metres (8,000 ft) of RC and 1,000 metres (3,000 ft) of core drilling, and is budgeted at $850,000 (US$680,000).

At Wilco, in the West Humboldt Range, Nevada, the program will focus in the North Basin target. Mapping and sampling along the margins of the circular basin has returned gold values ranging between 0.1 ppm to 5.2 ppm gold. At the northern margin of the basin, one area has returned an average of 0.882 ppm gold from 16 surface rock-chip channel samples. This area is approximately 700 metres north of the drillhole WR-087 (38.1m @ 2.61 g/t Au). In addition to gold along the margins, the basin shows a magnetic low in the aeromag data set indicating a potential porphyry beneath the covered circular basin. Drilling will also test this target concept. The program is budgeted at $400,000 (US$320,000) and will consist of 10,000 ft of RC drilling.

"We are excited to be back drilling at Lincoln Hill and Wilco. The new targets show potential for high grades and expansion of oxidized mineralisation on these projects. I believe the drilling will prove our target concepts correct and expand the Wilco resource and identify a new gold and silver resource at Lincoln Hill. To date, the Company has delivered gold resources at a robust finding cost of one dollar per ounce of gold and gold equivalents, and I believe our 2009 drill program can continue to deliver exciting results", commented William C. (Bill) Howald, the Company's CEO and President.

The company’s address is 1740-1177 West Hastings Street, Vancouver, BC V6E 2K3, (604) 638-1588, fax: (604) 638-1589, email: [email protected].