Rye Patch Gold Files Technical Report On Lincoln Hill Resource
Vancouver, British Columbia, June 30, 2010 – Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) (“Rye Patch” or the “Company”) has filed on SEDAR a National Instrument 43-101 compliant Technical Report supporting the mineral resource estimate at the Lincoln Hill Project in Nevada (see the Company’s news release dated May 18, 2010). The resource table below shows the new Lincoln Hill gold and silver inferred resource estimate using a 0.343 g/t (0.01 opt) gold and gold equivalent (gold equivalent or Aueq) cut-off grade.
Using US$900 per ounce for gold and US$18 per ounce for silver, an inferred gold equivalent resource of 569,760 ounces with an average grade of 1.029 g/t Aueq was estimated. The resource is stockwork zone located at the surface with high-grade feeder structures internal to the main mineralized body.
“The new Lincoln Hill resource demonstrates the untapped potential of the Oreana trend. The Company is starting exploration along its 100% controlled land holdings located between the Wilco and Lincoln Hill projects. This portion of the Oreana trend will benefit from our geologic knowledge and expertise gained from Wilco and Lincoln Hill, and the Company anticipates to generate additional high-quality drill targets from this program”, commented William C. (Bill) Howald, the Company’s CEO and President.
Scott E. Wilson Consulting, Inc. (SEWC) used industry-accepted practices and standards to classify the Lincoln Hill resource. Geologic interpretations were incorporated into the new resource for greater confidence in the resource estimate. Cut-off grades were calculated based on referencing up-to-date costing structures that are publically available.
The resource is classified using a combination of distance to the nearest sample, the number of samples, and number of holes used to estimate each block, while also taking into account project history, database quality, sample integrity and geologic understanding. Because the Lincoln Hill drillholes are few and widely spaced, SEWC classified the resource as inferred. Additional drilling may result in upgrading the inferred resource to measured and indicated resources.
Scott Wilson of SEWC is a qualified person as defined in National Instrument 43-101 and is responsible for, and approves of, the technical disclosure relating to the Lincoln Hill Project contained in this news release.
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 Gold’s resource inventory now totals 1,182,780 ounces of gold equivalent in the measured and indicated category plus 2,727,100 ounces of gold equivalent in the inferred category. The following table summarizes Rye Patch Gold’s precious metal inventory in Nevada, USA.
