Rye Patch intersects gold at Wilco and Jessup

Rye Patch Gold (RPM-V, RPMGF-O) has reported gold intersections on its Wilco and Jessup projects in Nevada.

At Wilco, the company highlights hole 87, drilled into the North Basin target, which returned 38 metres of 2.6 grams gold per tonne from a depth of 350 metres. Another long intersection was returned in hole 82, drilled into the Colado Resource target. It cut 10.7 metres of 2.7 grams gold at a depth of 58 metres. Another hole returned lower grade gold, while holes 84-86 did not return significant mineralization.

At Jessup, hole 39, drilled on the North Jessup target, cut 7.6 metres of 9.2 grams gold and 26 grams silver per tonne from a depth of 35 metres. Hole 31, drilled on the Tosh Hill target,  returned 7.6 metres of 2.9 grams gold and 8.3 grams silver from 63 metres. And hole 36, drilled on the San Jascinto target, cut 59 metres of 1 gram gold and 6.9 grams silver per tonne from 27 metres. Mineralization was returned in a number of other holes, and almost all mineralization was intersected in oxidized volcanic formations, so there is a high probability that the gold and silver mineralization is oxidized.

The Wilco property is located in north-central Nevada, about 160 km northeast of Reno, near the I-80 freeway and 10 km north of Lovelock, Nv. The property covers 34 sq. km, and has been optioned from Newmont Mining (NMC-T, NEM-N), which can back-in to a 70% interest for $20 million in development work. The Jessup property, which covers 10 sq. km, is located in the southern Trinity Range, about 100 km northeast of Reno.

Combined resources estimated to date on the two properties stand at 780,000 oz. gold equivalent (gold and silver) in the measured and indicated category, and 1.15 million oz. gold equivalent in the inferred category.

On September 30, Rye Patch had a working capital of $1.1 million. The company has 43.3 million shares fully diluted.