Rye Patch Gold Corp. (TSXV:RPM,OTCQX:RPMGF) announced that it has received approval for the plan of operations for its Nevada-based Patty project, which is located along the Cortez gold trend.
Rye Patch Gold Corp. (TSXV:RPM,OTCQX:RPMGF) announced that it has received approval for the plan of operations for its Nevada-based Patty project, which is located along the Cortez gold trend. The approved plan of operations, coupled with an existing permit for Garden Gate Pass, allows Rye Patch to start drilling at Patty right away.
As quoted in the press release:
The Company will drill test the Garden Gate Pass and Patty properties, pursuing the strike extension of Barrick’s growing Goldrush deposit. As a result of reconciling 2012 and 2014 drilling information (see April 29, 2014, news release) with seismic data, the Company has refined its targets, identifying a disrupted zone beneath an anticline structure. The structural architecture on the seismic profile is significant and similar to the published geometry of the Goldrush deposit. The new interpretation represents a high-priority drill target that could lead to identifying the extension of the Goldrush deposit.
About the Patty project:
The Patty project lies to the south and along the same geologic setting as Goldrush. The Cortez drill program is starting at Patty and focusing on targeting a new discovery. Two priority targets have been identified. The first is the strike extension of the Goldrush geologic setting. Past drilling returned a drill interval consisting of 105 metres grading 0.3 g/t gold. The overall thickness of the zone is encouraging and is being used to vector new drilling in the Goldrush Anticline target. The second target, Indian Creek, is very exciting and represents a newly identified parallel structural zone. Geologic mapping has re-interpreted a sedimentary debris-flow breccia deposited along the trace of a major basement fault, a potential ore-controlling feature. This structural architecture provides the optimal setting for a Carlin-type deposit and potential new discovery.
William C. Howald, president and CEO of Rye Patch, commented:
The Cortez trend is an exciting exploration area that has tremendous upside potential. Since 1991, over 50 million ounces of gold have been discovered, mined and processed along the trend, with Barrick’s 15‑plus million ounce Goldrush deposit illustrating the potential and the prize. Our Garden Gate Pass property abuts the Goldrush discovery, and the Patty project sits to the south and in the same geologic environment along the trend. We have been refining the drill targets since 2012 and believe they pose some of the best exploration opportunities along this world-class gold trend.