*MUX* - News, Joint Venture, Rhy Patch, Patty Project,
Rye Patch Announces Results From the 2012 Patty Exploration Program
March 1, 2013, 4:01 p.m. EST
VANCOUVER, BRITISH COLUMBIA, Mar 01, 2013 (MARKETWIRE via COMTEX) -- Rye Patch Gold Corp. CA:RPM -11.27% (otcqx:RPMGF)(frankfurt:5TN) (the "Company" or "Rye Patch") is please to announce the results of its fall 2012 drilling and exploration program on the Patty project located in Eureka County, Nevada.
HIGHLIGHTS:
The Patty Project is a joint venture among Barrick Gold US CA:ABX -3.42% , McEwen Mining CA:MUX -0.40% , Chapleau Resources (magellan minerals ltd. (tsx venture:MNM)), and Rye Patch Gold US Inc. The project consists of 616 unpatented lode mining claims covering roughly 53.1 square kilometres (13,120 acres) and is located immediately south of Rye Patch Gold US Inc.'s 100% controlled Garden Gate Pass project; 10 kilometres south-southeast of Barrick's recently announced Goldrush discovery; and east and adjacent to McEwen Mining's Tonkin Springs project along the western margin of the Northern Nevada Rift (NNR). Geologically, the project straddles the same geologic environment as Barrick's new gold discovery at Goldrush. Rye Patch Gold US Inc. is earning 60% interest in the Patty project by completing $5 million in exploration expense over a 5-year period. Under the agreement, Rye Patch Gold US Inc. was required to drill 3,300 metres (10,800 feet) in 2012 (completed), and a minimum of 1,525 metres (5,000 feet) every year thereafter. To date, Rye Patch has completed approximately $1.5 million of the required $5 million in exploration expenditures.
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