Rye Patch Gold (RPM.V) has released an exploration update on the Gold Ridge zone of its Lincoln Hill gold project in Nevada. The company has completed in excess of 2,400 meters of drilling to further define the mineralization at Gold Ridge which is located just a few kilometers away from the Lincoln Hill project where a PEA has outlined a low-cost and profitable gold mine, even at the current gold price.
This drill program has now extended the strike lengths at Gold Ridge to a total of 1,300 meters (consisting of a 800 meters strike length on the northern portion of Gold Ridge and 500 meters at the southern target) and the mineralization remains open along strike and at depth at the northern zone.
The average grade encountered in the holes isn’t very high, but Gold Ridge should be considered as a low-grade bulk tonnage target and as the mineralization is located very close to the spot where Rye Patch would like to construct its leach pad, Gold Ridge could add several years to the mine life of the greater Lincoln Hill project.
We have published an interview with CEO William Howald last week wherein he discusses the plans for Lincoln Hill. You can read the interview here.