By Big Al
RYE PATCH OUTLINES PROGRAM TO EXPAND OXIDE RESOURCES AND EXPLORE SULFIDE POTENTIAL AT FLORIDA CANYON AND LINCOLN HILL – We will discuss this with Bill a bit after noon pst.
RYE PATCH OUTLINES PROGRAM TO EXPAND OXIDE RESOURCES AND EXPLORE SULFIDE POTENTIAL AT FLORIDA CANYON AND LINCOLN HILL
Vancouver, British Columbia, October 16, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) outlines a three-year program to expand oxide resource and delineate sulfide potential along the Oreana trend in west-central Nevada. The program is designed to increase measured and indicated oxide resources at Florida Canyon and Lincoln Hill and quantify and deliver a sulfide resource beneath the Florida Canyon oxide deposit. A Phase 1 10,000 metre expansion drilling campaign at the Florida Canyon mine is planned which seeks to increase the oxide resource and to test and confirm the grade, character and extent of the sulfide mineralization beneath the oxide ore body.
The initial drill program will consist of 1,200 metres of core and 8,800 metres of reverse circulation drilling. Drillhole depths will range between 150 to 300 metres for the sulfide program and 60 to 180 metres for the oxide program. The estimated cost of the phase-1 campaign is US$1 million, and the program commenced in early October.
At the end of the three-year program, Rye Patch anticipates delivering significant additional oxide resources at Florida Canyon and Lincoln Hill, and a sulfide resource beneath the Florida Canyon oxide deposit. A portion of the sulfide body above the water table may also lend itself to an accelerated mine and processing option for the Company.
William Howald, the Company’s President and CEO noted, “Over the history of the Florida Canyon mine, a total of 3.5-million ounces of gold from oxide material has been placed on the historic leach pad and the Company is currently mining a 1.12-million ounces of measured and indicated oxide gold resource. Based on our exploration model, Management believes the sulfide resource beneath Florida Canyon has a similar number of ounces of gold but at a much higher grade. If our exploration model is correct, the combined oxide and sulfide mineralization could make Florida Canyon a world-class deposit in Nevada.”
Sulfide Program
The core program will focus on the sulfide deposit beneath the Florida Canyon oxide resource. The objective of the drill program is to establish the overall size, extent and thickness of the sulfide body and collect material for additional metallurgical testing.
In 1996, Pegasus Gold completed an internal report titled “Sulfide Project Pre-feasibility Study” dated July 18, 1996 on the sulfide mineralization at Florida Canyon. A total of 262 drillholes (241 RC and 21 core) touched or penetrated the sulfide body and yielded an average grade of 2.36 g/t gold in the sulfide with gold values as high as 100 g/t Au (2.93 opt Au) in a northeast oriented structural zone. Pegasus completed a resource estimate within a Whittle pit design at US$400 gold price, and a series of metallurgical tests including floatation, pressure oxidation, roasting, and bio-oxidation. The metallurgical test work showed an overall recovery of 90% with flotation with 94% …read more
Source:: The Korelin Economics Report
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