Rye Patch Gold Corp., founded in 2006 and headquartered in Vancouver, Canada, acquires, explores and develops gold and silver resource assets in Nevada. The report notes that Nevada is the world’s fourth-richest gold region, accounting for 80% of U.S. gold production and 10% globally. Starting with 150,000 inferred ounces of gold in mid-2007, the company’s resource inventory had grown to 1,182,780 ounces of gold and gold equivalent in the measured and indicated category, plus 2,727,100 ounces in the inferred category.
Rye Patch was developing four wholly controlled projects along the emerging Oreana gold trend northeast of Reno (Wilco, Lincoln Hill, Gold Ridge and Jessup), with multi-rig drilling programs that began in September 2010. It had also acquired a fifth project, Garden Gate Pass in Eureka County, surrounded by producing mines of companies such as Barrick Gold, and its management was evaluating further acquisitions on another major Nevada trend.
TSXV: RPM, OTCQX: RPMGF · Gold mining