Canadian Mining Journal

News

Rye Patch on verge of becoming Nevada’s next gold producer



Since co-founding Rye Patch Gold (TSXV: RPM; US: OTC: RPMGF) a little over a decade ago, William Howald has folded seven projects into the junior’s asset portfolio and become a significant explorer on the Oreana Gold Trend in west-central Nevada near the town of Lovelock, as well as along the renowned Cortez Gold Trend in the north-central part of the state.

Along the way, the geologist has expanded the junior’s gold footprint from about 150,000 inferred ounces of gold-equivalent in 2006 to 2.4 million ounces in the measured and indicated category and a further 1 million ounces in the inferred.

“I’m really proud of Rye Patch,” says Howald, who cut his teeth running Placer Dome’s exploration programs in the United States (primarily Nevada) and Latin America, before the company was swallowed up at the end of 2005 by Barrick Gold (TSX: ABX; NYSE: ABX). “We’ve been around for ten years, and we’ve been keeping our eye on properties we like, and if people drop their claims and there’s an opportunity to pick them up, we do.”

The company’s Florida Canyon project is just one example of how the junior’s management team is able to take its knowledge of Nevada and parlay it into something that creates shareholder value.

Read the entire story at The Northern Miner.