VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/01/13 -- Rye Patch Gold Corp. (TSX VENTURE: RPM)(OTCQX: RPMGF)(FRANKFURT: 5TN) (the "Company" or "Rye Patch") is please to announce the results of its fall 2012 drilling and exploration program on the Patty project located in Eureka County, Nevada.
-- At Patty, drilling cut several zones including RP-004 which returned 1.95 g/t gold over 4.6 metres, and RP-003A which returned 0.58 g/t gold over 9.1 metres which expands the Patty deposit northward;-- Geologic and structural mapping along with surface rock-chip sampling show the Indian Creek target is a major structural corridor with up to 9.42 g/t gold at the surface coupled with significant Carlin-type pathfinder elements;-- Western Rift, West Geyser and South Pediment remain high priority exploration targets with tremendous upside potential; and-- Two stratigraphic drillholes and drillhole re-logging confirm the presence of highly prospective host rocks and structural zones.
The Patty project is an early-stage property located along the structural projection of the prolific and highly prospective Cortez trend. The 2012 drilling campaign focused on two of the six known target areas. The target areas are the Patty Deposit, Patty North, Western Rift, West Geyser, South Pediment, and Indian Creek.
At the Patty deposit, gold mineralization is localized along the regional Simpson Park thrust system and the east-northeast trending OS structural zone. The deposit is open in several directions. Mineralization is near surface and drillholes RP-001 and RP-002 explored the down-dip potential of the resource along the footwall of the east-northeast OS fault system. RP-001 encountered difficult drilling conditions and was terminated at 73 metres; however, RP-002 identified low-grade mineralization along the footwall zone.
Drillhole RP-003A extended gold mineralization 200 metres in a northwesterly direction, and drillhole RP-004 extended mineralization 200 metres down dip. Drillhole RP-004 cut several zones including one with 1.95 g/t gold over 4.6 metres. The initial gold values start at 369 metres and continue intermittently to 501 metres. The mineralization is still open to the northwest and at depth. Additional drilling is planned to test the gold zone in more favorable host lithologies.
At the Western Rift target, two drillholes were completed to follow up on significant mineralization identified in drillhole PIR05-010 (102 metres grading 0.32 g/t gold including 1.5 metres grading 4.16 g/t gold). RP-006 and RP-007 attempted to offset this mineralization to the east (RP-007) and west (RP-006). Interesting results were received from RP-007 with a significant zone of geochemically anomalous gold encountered in the right horizon. Using a 0.1 g/t gold cutoff, RP-007 returned 0.13 g/t gold over 44 metres. Unfortunately, RP-006 intersected a six-metre hydrothermal cave at the level of the projected gold zone, and the drillhole was lost as a result. Logging of the drilling chips shows the alteration and multi-element ICP confirms arsenic and antimony were building before hitting the void. Additional data compilation and drilling are warranted on this target. The gold mineralized zone remains open to the north, south, and east.