|
Rye Patch is an exploration stage company engaged in the acquisition and exploration of gold properties located in the politically stable mining state of Nevada, United States of America. The Company goal is to provide its shareholders with exceptional leverage to a rising gold price. The Company holds interests in four projects covering roughly 78 square kilometres within Nevada's prolific gold trends. [Source: Management Discussion and Analysis for September 30, 2010]
The Rye Patch Gold Corp. website is at www.ryepatchgold.com.
Information Links: Yahoo News and Quotes | Yahoo Message Board | StockCharts | Canadian Insider Trading
More Information Links: Candlestick Analysis
Wilco Ownership This report assumes Rye Patch hold 100% of Wilco. However, it should be noted that this assumption may not be correct in the long term. Specifcally, quoting from the May 2009 NI43-101 Report (p. 8 of 122):
Rye Patch has entered into an Assignment Agreement with North American Diversified Resources Corporation and Newmont USA Ltd. to further explore and if warranted, develop the Wilco property. Pursuant to Rye Patch's lease on the property Rye Patch must expend $3 million on exploration of the Wilco property over a five year period. Newmont retains a right to earn back a 60% interest in the property by spending a further $15 million on exploration. Newmont may earn an additional 10% interest if it spends an additional $5 million on exploration. The land covered by these agreements includes 217 mineral claims that cover approximately 3,240 acres and a further 5,226 acres of private lands, located approximately six miles northeast of Lovelock, NV. The mineral claims and private lands are contiguous and Rye Patch Gold controls all mineral rights within the property boundary.
This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-01-03.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2013-05-23 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$30.42 |
| Average Ore Value per Tonne | US$20.98 |
| Metal Value Leverage (MVL) | -no stock price- |
| Market Capitalization as a Percentage of Metal Value | - price unavailable |
| Recent Closing Stock Price | C$ [note 1] |
| Fully Diluted Share Count | 137.83 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 58% |
| Percentage In Situ Inferred Resource | 42% |
| Metric | Value on 2013-05-23 |
|---|---|
| Gold Reserves + Resources | 2.47 M oz |
| Average Gold Ore Grade | 0.4 g/t |
| Market Capitalization per oz of Gold In Situ | US$0.00 ( C$0.00 ) |
| Gold Equivalent Ounces Estimate | 3.01 M oz |
| Market Capitalization per oz of Gold Equivalent | US$0.00 ( C$0.00 ) |
Note 1: Conversion rate used: 1 Cnd$ = 0.971426 US$
Note 2: Fully diluted share count is based on the shares, warrants and option counts in the September 2010 Interim Financial Statement.
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | Silver | ||
|---|---|---|---|---|
| Total Counts (reserves + resources) | 2.47 M oz | 32.92 M oz | ||
| Metal Prices in US$ (from 2013-05-23) | $1,392.90 / oz | $22.66 / oz | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $25.01 | $5.41 | ||
| Percentage of Total Metal Value | 82.21% | 17.79% | ||
| Metal Value Percentage Proven + Probable | 0% | 0% | ||
| Metal Value Percentage Measured + Indicated | 60% | 49% | ||
| Metal Value Percentage Inferred | 40% | 51% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | Silver | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|---|
| Wilco | Nevada, USA | $20.22 ( 66.5% ) | US$17.67 | 1.72 M oz | 17.18 M oz | 0 | 68% | 32% |
| Lincoln Hill | Nevada, USA | $5.40 ( 17.7% ) | US$43.21 | 379.68 K oz | 9.49 M oz | 0 | 0 | 100% |
| Jessup | Nevada, USA | $4.80 ( 15.8% ) | US$26.57 | 373.60 K oz | 6.24 M oz | 0 | 79% | 21% |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
Rye Patch owns 100% of the Jessup project. The Jessup property covers 1,425 hectares (3,520 acres) on the southwestern extension of the Oreana trend. Follow-up of existing targets is under review and being prioritized for a September 2010 drilling program. [Source: June 30, 2010 MD&A filing]
Latest NI43-101 Report: TECHNICAL REPORT
JULY 17, 2009
RYE PATCH GOLD CORP.
JESSUP PROJECT, CHURCHILL COUNTY, NEVADA, USA
2009-07-17 (104 pages).
Updates: See Company Overview presentation (April 2010), Slide 8 of 13 (Rye Patch Gold’s NI43-101 Resource Inventory) viewed May 2010.
Project Location: Nevada, USA. View the Jessup project on a Google Map.
Average Ore Value (all estimate types): US$26.57
Measured
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.29 | 127.49 K oz | 0.510 g/t | 7.78 M t |
| Silver | $0.36 | 2.19 M oz | 8.745 g/t | 7.78 M t |
Estimate notes: See May 10 Presentation, slide 8 of 13 (viewed May 2010).
Cutoff grade is 0.2 g/t Au for oxide and 1.45 g/t Au for sulphide.
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $1.68 | 166.64 K oz | 0.410 g/t | 12.64 M t |
| Silver | $0.48 | 2.91 M oz | 7.167 g/t | 12.64 M t |
Estimate notes: See Measured note.
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $0.80 | 79.47 K oz | 0.550 g/t | 4.49 M t |
| Silver | $0.19 | 1.14 M oz | 7.922 g/t | 4.49 M t |
Estimate notes: See Measured note.
Lincoln Hill covers a total of 535 hectares (1,325 acres) located along the Oreana gold trend. Newmont Mining and Coeur Rochester conducted earlier exploration work at Lincoln Hill. Rye Patch’s evaluation of this work includes re-logging of Newmont drill holes, construction of drillhole cross-sections and analysis of previous surface and underground sampling programs. A fall drilling program will commence in September 2010. [Source: June 30, 2010 MD&A filing]
Latest NI43-101 Report: TECHNICAL REPORT
LINCOLN HILL PROPERTY
PERSHING COUNTY, NEVADA
USA
2010-06-09 (76 pages).
Updates: See Rye Patch Gold Announces First Resource Estimate for Lincoln Hill, May 18, 2010.
Project Location: Nevada, USA.
Average Ore Value (all estimate types): US$43.21
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $3.84 | 379.68 K oz | 0.686 g/t | 17.22 M t |
| Silver | $1.56 | 9.49 M oz | 17.143 g/t | 17.22 M t |
Estimate notes: See
Rye Patch Gold Announces First Resource Estimate for Lincoln Hill, May 18, 2010.
A cutoff grade of 0.343 g/t Au.
The Wilco project is located 160 kilometres northeast of Reno, Nevada along the main transportation artery of Interstate 80. During May and June of 2010, a total of 3,859 meters in eleven reverse circulation (RC) drillholes was completed in the Wilco spring drilling program. The program outlined a high-grade gold zone that measures 100 metres by 200 metres, and the gold zone is open to the west-southwest. Because the gold in this zone tends to be coarse, free gold in nature, a core program is being planned to better evaluate the structural orientation and distribution of the high grade gold. [Source: June 30, 2010 MD&A filing]
Latest NI43-101 Report: TECHNICAL REPORT
May 08, 2009
RYE PATCH GOLD CORP.
WILCO PROJECT, PERSHING COUNTY, NEVADA, USA
2009-05-08 (122 pages).
Updates: Rye Patch Announces 27 June 2012 news release.
Project Location: Nevada, USA. View the Wilco project on a Google Map.
Average Ore Value (all estimate types): US$17.67
Measured
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $3.35 | 331.06 K oz | 0.410 g/t | 25.12 M t |
| Silver | $0.51 | 3.08 M oz | 3.810 g/t | 25.12 M t |
Estimate notes:
A cutoff grade of 0.2 g/t Au for oxide and 1.45 g/t Au for sulphide.
Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $8.58 | 849.08 K oz | 0.330 g/t | 80.03 M t |
| Silver | $1.32 | 8.00 M oz | 3.110 g/t | 80.03 M t |
Estimate notes:
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $5.47 | 541.15 K oz | 0.320 g/t | 52.60 M t |
| Silver | $1.00 | 6.10 M oz | 3.610 g/t | 52.60 M t |
Estimate notes: