Rye Patch Gold Announces Florida Canyon October Production
Rye Patch Gold Corp. reports that it has completed a record setting month at the Company’s flagship Florida Canyon mine in Pershing County, Nevada.
Production Highlights for the month of October 2017 as compared to the Company’s preliminary economic assessment “plan” (see description below) are:
• Placed 9,100 ounces of gold on the pad (48 percent above plan);
• Produced 2,911 ounces of gold and 1,626 ounces of silver;
• Mined 815,400 tons of ore (35 percent above plan);
• Crushed 821,100 tons of ore (37 percent above plan);
• Maintained a grade of 0.011 opt of gold including over liner material; and
• Achieved a low strip ratio of 0.43 for the month (77 percent below plan).
“The Florida Canyon mine overwhelmingly outperformed its plan in a safe and prudent fashion in October and is successfully showing capacity well above its Q4 production goals. We are benefiting from the larger leach cell size with gold now being produced at increasingly higher rates,” stated William Howald, the Company’s President and CEO.
“Given the gold ounces placed in October,” Mr. Howald added, “the addition of the new 785 haulage trucks planned for November, and the completion of the over liner in early December, the mine is on a positive trend that should continue through Q4.”
“We are on track to achieve commercial production at Florida Canyon in Q1 2018,” he added.
At the end of October, the Company reports $16.5 million in its treasury.
“Plan” refers to the Company’s preliminary economic assessment effective March 16, 2016 and dated January 27, 2017 titled “Amended Technical Report – Preliminary Economic Assessment for the Florida Canyon Mine, Pershing County, Nevada” available on the Company’s website and under the Company’s profile at www.sedar.com.
Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.
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