Rhyolite Announces 0.83 g/t Gold Over 38.2 Metres and 17.8 g/t Gold Over 1.3 Metres at Paxson

- July 27th, 2010

Rhyolite Resources Ltd. (TSX VENTURE:RYE) reported that a detailed geological compilation program in conjunction with the validation sampling of diamond core drilled in 2001 has resulted in the identification of two prospective gold targets on its wholly-owned Paxson project in Alaska.

Rhyolite Resources Ltd. (TSX VENTURE:RYE) reported that a detailed geological compilation program in conjunction with the validation sampling of diamond core drilled in 2001 has resulted in the identification of two prospective gold targets on its wholly-owned Paxson project in Alaska.

The press release is quoted as saying:

The main area of interest was outlined in 2001 when a Placer Dome USA Inc. funded exploration program defined a 1,100 metre by 500 metre greater than 100 parts per billion gold-in-soil geochemical anomaly. In 2001, two drill holes tested a very limited portion of the anomaly where surface trenching returned 3.9 grams gold per tonne over 16.4 metres at the Shalosky showing.

Click here to access the entire press release

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