🕐20.04.11 - 15:54 Uhr
RYE PATCH GOLD ADDS JESSUP TO 2011 PROGRAM AND BUDGET
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Re: News Release - Wednesday, April 20, 2011
Rye Patch Gold Adds Jessup to 2011 Program and Budget
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Vancouver, British Columbia, April 20, 2011 - Rye Patch Gold Corp
(TSX.V: RPM; OTCQX: RPMGF) ("Rye Patch" or the "Company") is pleased to
add the Jessup property as one of the targets for the 2011 drilling
season.
As announced on February 17, 2011, the Company is planning
drilling programs on its 100% controlled Wilco, Lincoln Hill, Gold
Ridge and Garden Gate Pass projects with a total expenditure of $3.5
million.
The addition of the Jessup program will boost the total 2011
expenditure to approximately $4 million.
The Jessup program will
increase expenditure along the Oreana trend from $2.25 million to $2.65
million.
Rye Patch Gold has sufficient funds in its treasury to follow
up on success at any or all of the 2011 drill programs.
The Jessup drilling will:
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focus on expanding the North Jessup deposit to the northwest;
.
follow up on extensions of the San Jacinto deposit toward the south;
.
address a new target located along the north-northwest oriented Jessup
structural zone adjacent to an altered rhyolite dome; and
.
cost $400,000 and 2,000 metres is being permitted.
During the 2010 Jessup drilling program, two new areas were drilled and
showed expansion potential of the existing gold and silver resource.
At the North Jessup deposit, gold and silver mineralization are open to
the northwest along the margins of the North Jessup graben.
The 2011
program will follow up on drillhole intercepts on the northern side of
the North Jessup deposit.
At North Jessup along the graben structure,
JR-10-051 returned 15.2 meters grading 1.55 g/t gold, and a second
drillhole, JR-10-052, yielded 2.68 g/t gold over 3 metres.
The North
Jessup mineralization is open and the 2011 drill program will address
the extent of the structural zone.
At the San Jacinto zone, drilling in 2010 identified the extension of
the San Jacinto mineralization to the south associated with
hydrothermal breccias and a geophysical anomaly manifested as a
magnetic low.
The 2011 program will address this mineralization by
following the breccia zone southeast under post-mineral volcanics.
The ground magnetic geophysical survey will guide the drilling program.
The magnetic geophysical survey has identified an additional drill
target.
Drilling will address a series of altered rhyolite domes
associated with a magnetic low.
The domes appear to have a mushroom
shape, and gold and silver mineralization could be associated with the
stem of the mushroom in the area of the magnetic low.
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 Golds
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.
Table 2
summarizes Rye Patch Golds precious metal inventory in Nevada, USA.
To view the table associated with this news release please see our
website at:
http://www.ryepatchgold.com/s/NewsReleases.asp?ReportID=452677
Mr.
William Howald, AIPG Certified Professional Geologist #11041, Rye
Patch Golds 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 exploring well-known mineral trends in Nevada -
the worlds fourth-richest gold region.
Starting with 150,000 inferred
ounces of gold in mid-2007, this well-funded Company now has
1.2-million ounces of gold and gold equivalent in the measured and
indicated category, plus 2.7-million ounces of gold and gold equivalent
in the inferred category.
Rye Patch Gold is a Tier 1, Nevada-focused
and discovery-driven company seeking to build a sizeable inventory of
gold and silver resource assets in the mining friendly state of Nevada,
USA.
The Companys seasoned management team is engaged in acquisition,
exploration and development of quality resource-based gold and silver
projects.
Rye Patch Gold is developing its primary assets - the
advanced-stage Wilco, Lincoln Hill, Jessup, and Gold Ridge projects
located along the emerging Oreana gold trend in west-central Nevada.
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 Rye Patch Gold, please visit our website at
www.ryepatchgold.com.
On behalf of the Board of Directors
William Howald
William C.
(Bill) Howald, CEO & President
For additional information contact:
Rye Patch Gold Corp.
Tel.: (604) 638-1588
Fax: (604) 638-1589
This news release contains forward-looking statements, which address
future events and conditions, which are subject to various risks and
uncertainties.
The Companys actual results, programs and financial
position could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors, some of
which may be beyond the Companys control.
These factors include: the
availability of funds; the timing and content of work programs; results
of exploration activities and development of mineral properties, the
interpretation of drilling results and other geological data, the
uncertainties of resource and reserve estimations, receipt and security
of mineral property titles; project cost overruns or unanticipated
costs and expenses, fluctuations in metal prices; currency
fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions
of the Companys management on the date the statements are made.
The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2011 RYE PATCH GOLD CORP.
(RPM) All rights reserved.
For more information visit our website at http://www.ryepatchgold.com/
or send mailto:
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