Rye Patch Gold features management with an unusual level of technical, financial and executive talent for a junior firm. Our team has developed and operated major mines and managed large exploration budgets on five continents. The company's Nevada focus arose from management's extensive knowledge of the state's geology and mining industry, along with a well-established professional network amongst Nevada's leading mining companies.
The Company's primary goal is to build a "critical mass" of gold and silver inventory in Nevada that will lead to a corporate buyout. Management believes approximately five million ounces of gold will be required to reach its objective. The Company intends to achieve this growth organically, through the drillbit, and also by the acquisition of resource-based projects.
The company has become a leading explorer along Nevada's Oreana Gold Trend, located in West-Central Nevada near the town of Lovelock, and also along the renowned Cortez Gold Trend in North-Central Nevada. Starting with 150,000 inferred ounces in 2006, the Rye Patch team has discovered 2.4M ounces of gold and gold equivalent in the measured and indicated category plus 1.0M ounces of gold and gold equivalent in the inferred category.*
Nevada gold production has declined dramatically, from nearly 9M ounces in 1998 to approximately 5.6M ounces in 2012. Over the same period, producers have seen a 30% decrease in gold reserves. That's why Nevada's major mining companies are on the hunt for new, economical gold deposits close to their existing operations. Rye Patch Gold, with advanced projects near Coeur d'Alene's Rochester Mine and Barrick's Marigold, Pipeline and Cortez Hills mines, is positioned strategically to capitalize on the need for new gold deposits.
* This resource estimate represents combined estimates for the Lincoln Hill and Wilco projects as determined by NI 43-101 compliant Technical Reports completed on each property by Scott E. Wilson Consulting, Inc.
June 27, 2012 43-101 Technical Report, Wilco Project
September 17, 2012 43-101 Technical Report, Lincoln Hill Project