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Riley Gold Exploration Program Underway at its Tokop Gold Project Including Initial Surface Rock Samples up to 16.1gpt Gold and 105gpt Silver
VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Riley Gold Corp. (“Riley” or the “Company”) (TSX.V: RLYG) is pleased to report that the explorati
About this update from Riley Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Riley Gold Corp. (“Riley” or the “Company”) (TSX.V: RLYG) is pleased to report that the exploration program at its Tokop Gold Project (the “Project”) located in Esmeralda County, Nevada, is well underway. The 2020/21 program includes mapping, sampling, geophysical surveys and drilling, as well as Riley’s geological review and interpretation of previous work conducted at the Project. The Project is located within the Walker Lane Trend approximately 80 kilometers south of Tonopah, and was consolidated in Q3, 2020 by Riley through various agreements with land holders (see Riley’s news release dated October 1, 2020). Deposits currently being mined or developed in the area include: Mineral Ridge Mine, Bullfrog, North Bullfrog, Silicon and the Daisy-Secret Pass deposits. The nearby districts of Tonopah, Goldfield, and Bullfrog (near Beatty, Nevada) have accounted for historical production of more than 8.3 million ounces gold and 143.5 million ounces of silver. Gold mineralization is hosted in intermediate granitic rocks, similar to that being mined at the Fort Knox Gold Mine (Kinross Gold) near Fairbanks, Alaska. Higher grade gold is hosted in shears, ledges, stockworks, and closely spaced veins within granitic rocks. Potentially bulk mineable mineralization can occur peripheral to high grade structures within the intrusives and surrounding altered and hornfelsed carbonates. Exploration Program Initiated: The exploration program is being led by Charles Sulfrian, Exploration Manager for Riley who has more than 40 years of experience as an exploration geologist. Over the last few months, Riley concentrated its efforts on understanding and delineating highly prospective exploration targets as identified by past operators as well as future exploration opportunities at the Project. As a result of this analysis, Riley initiated a detailed mapping and rock chip sample program to aid in the planning of a new round of drilling. Additional geophysical surveys will also help define drill targets. The geophysical work will begin in early 2021 and drilling will follow by the end of Q1 or early Q2, 2021. Initial grab and chip samples (up to 3 meters (“m”)) were selected from dumps and outcrops in varied structural settings which returned assays results up to 16.1 gram per tonne (“gpt”)...