Rye Patch Gold Corp. (TSXV:RPM) announced a resource update on its Rye Patch Gold US Inc.’s Lincoln Hill project, including 96 million ounces of silver in the measured and indicated category.
As quoted in the press release:
- The in-pit resource returned 334,000 ounces of gold and 9.6 million ounces of silver in the measured and indicated category;
- On an equivalent basis, the in-pit resource represents 526,000 ounces of gold and gold equivalent or 26.3 million ounces of silver and silver equivalent in the measured and indicated category using a 50 to 1 silver to gold multiplier; and
- The resource is contained within a Whittle optimized pit using $1,200 per ounces for gold and $20 per ounce for silver.
William C. Howald, President and CEO of Rye Patch Gold Corp., commented:
Rye Patch Gold US Inc. has delivered substantial bulk-tonnage, open pit measured and indicated resources sitting at the front door of Barrick’s Spring Valley deposit and Coeur’s Rochester Mine. I see a compelling future building for the district that is filled with growth and opportunity. I envision extending the operating life in the district, increasing employment requirements, and providing sustainability and stability for all stakeholders. That’s a positive message that I believe everyone living and operating in the area can get behind and work toward making a reality.