Corp. Rye Patch Gold reports that the Florida Canyon mine has poured 3,094 ounces of gold for the month of May 2017. This compares to 485 ounces of gold poured in the month of April 2017. The Company plans to sell its 3,094 ounces of gold into its forward gold price contract facility priced at approximately US$1,275.
William C. Howald, President and CEO of the Company, stated, “We are very pleased with the progress and positive ramp-up of gold and silver dore production. The upward trend shows the project is on track to meet production objectives in the third quarter of this year.”
“In less than one year, the Company has made the transformation from a Nevada explorer to Nevada’s newest gold producer. The acquisition of the Florida Canyon mine was a transformational transaction that Rye Patch was uniquely positioned to pursue and re-start the mine to create shareholder value,” added Howald.
During the month of May, the Florida Canyon mine achieved:
- Mining of 1174 million tons (1.07 million tonnes) of material including 551,359 tons (501,235 tonnes) of ore delivered to the crusher;
- Stacking of 582,161 tons (529,237 tonnes) of ore on the new South Heap Leach pad;
- Pouring of 5,566 troy ounces of dore containing 3,094 ounces of gold and 2,381 ounces of silver; and
- Progressing toward commercial production in Q3.
Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp.
Now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with good value added potential.