Rise Gold Announces Significant Exploration Target at the Idaho-Maryland Gold Project
.
Rise Gold Announces Significant Exploration Target at the Idaho-Maryland Gold
Project
June 28, 2019 – Vancouver, British Columbia – Rise Gold Corp. (CSE: RISE , OTCQB: RYES) (the
“Company”) is pleased to announce the successful completion of the initial surface exploration drilling
program, the estimation of a significant Initial Exploration Target based on recent exploration drilling,
and the Company’s strategy to advance the Idaho-Maryland (“I-M”) Gold Project towards the re-opening
of the mine.
The Company has completed 19 drill holes , totalling 20,584 meters , over the past 20 months in the
Company’s initial surface exploration drilling program at the Idaho-Maryland Gold Project.
Drilling has confirmed the presence of significant extensions of previous ly mined veins and structures .
Numerous high-grade gold intercepts have been encountered, both near the existing mine workings and
to depths of over 1 km below historic mining areas.
The Company has calculated an Initial Exploration Target based on Rise Gold’s exploration drill results
supported by historic data from the Idaho- Maryland Gold P roject. Th e initial target represents the
mineralized material in close proximity to and accessible from the existing mine workings that can be
readily drilled from surface and/or underground to define a mineral resource.
The Initial Exploration Target provides a basis for the engineering required to permit and plan for the re-
opening of Idaho- Maryland Mine. The Company is now focusing its resources on engineering work to
advance the project. The Company has temporarily curtailed surface exploration drilling.
The Company has commenced engineering work to support an application for a Use Permit from Nevada
County to allow the following activities:
1) Dewatering of the underground mine workings.
2) Underground exploration drilling.
3) Full commercial mining with onsite mineral processing at the historic throughput of 1,000 tons per
day.
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Information on regulatory and environmental aspects of the Idaho-Maryland Gold Project was previously
released on May 17, 20191.
The Initial Exploration Target is estimated to range between 2,280,000 tons – 3,410,000 tons of
mineralized material, as detailed in Table 1. Approximately 50% of the mineralized material is hosted in
wide zones, estimated to average ~2 9 feet (9 m) in true width, and potentially amenable to high
productivity sub level long hole mining methods. The remaining mineralized material is estimated to
average ~10 feet (3 m) in true width and would likely require more selective mining methods such as cut
and fill mining.
The grade of this mineralized material cannot reliably be estimated without more extensive sampling.
However, Rise Gold’s drill core assays in conjunction with historic geological information show high
grade gold values similar to grades that were encountered in historic operations at the Idaho- Maryland
Mine.
Past production of the Idaho-Maryland for the period from 1866 to 1955 is estimated at 2,414,000 oz of
gold at an average mill head grade of 0.50 oz per ton (17 grams per tonne) gold. Over the five years from
1937-1941 before the mine was forced to shutdown during WWII, the mine produced an average of
941 tons per day at an average head grade of 0.34 oz per ton (11.6 grams per tonne) and 116,000 oz gold
per year2.
The Company cautions investors that the potential quantity and grade of the Initial Exploration Target is
conceptual in nature and there has been insufficient exploration to define a mineral resource. The
exploration target therefore does not represent, and should not be construed to be, an estimate of a mineral
resource or mineral reserve. It is uncertain if further exploration will result in the target being delineated
as a mineral resource.
The Initial Exploration Target is derived from Rise Gold’s drill intercepts where geology can be correlated
to historic workings. Many of Rise Gold’s recent drill intercepts are excluded from the estimate until
further drilling can allow the full and reliable interpretation of this data. An exceptionally high gold
intercept encountered below the modeled exploration target in drill hole I -18-10 was excluded from the
Initial Exploration Target. This interval assayed 4.35 oz per ton gold over 22.4 feet and included 63.85 oz
per ton gold over 1.5 ft. This high-grade interval may represent a new and significant high-grade discovery
but further drilling in this area is required to understand the orientation and nature of the mineralization.
1
https://www.risegoldcorp.com/uploads/content/May17RiseGoldProvidesInformationonTechnica lRegulatoryandEnvironment
alAspectsoftheIdahoMarylandGoldProject.pdf
2
https://www.risegoldcorp.com/uploads/content/APR4RISEPROVIDESESTIMATEOFHISTORICGOLDPRODUCTIONFO
RIMMINE.pdf
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Numerous known veins shown by historic drilling and mapping , pillars, and broken ore inventory in
historic shrinkage stopes are excluded from the Initial Exploration Target. The Company believes there is
significant potential in these tertiary targets that will be best targeted, in the future, from underground.
The large mineral potential to depth, as described in Rise Golds news release dated May 21st 20193, is not
included in the Initial Exploration Target and justifies extensive exploration. The Company believes that
the potential for gold mineralization to depth is very significant and that it may be possible to delineate
resources similar to or greater than the past production achieved at the Idaho-Maryland Mine.
TABLE 1 – Initial Exploration Target Summary
Tons Mineralized
Material
Estimated True
Width
Block Zone Level
Low
Case
Base
Case feet meters
A Idaho #2 I2700L - B3280L 540,000 810,000 33 10.1
B Idaho #2 I2700L 200,000 300,000 16 4.9
C Idaho #2 - Splays I2400L 170,000 250,000 8 2.4
D Idaho #1 Morehouse I2400L - B3280 L 170,000 250,000 8 2.4
E Idaho #1 I2400L - B3280 L 320,000 480,000 8 2.4
F Brunswick #1 B1600L - B1880L 290,000 440,000 26 7.9
G Brunswick #32 B1300L-B1880L 120,000 180,000 11 3.3
H Brunswick #10HW B1600L - B1880L 80,000 120,000 8 2.5
I Brunswick #10 FW B1600L - B1880L 90,000 130,000 9 2.7
J Brunswick #41 B1880L - B2650L 300,000 450,000 23 6.9
TOTAL 2,280,000 3,410,000
3
https://www.risegoldcorp.com/uploads/content/May21RiseGoldIntersectsHighGradeGold600mBelowLowestLevelofExplorat
iononIdaho1VeinatIdahoMaryland.pdf
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FIGURE 1 – Location of Areas Included in Initial Exploration Target
IDAHO #2 VEIN & RECENT DRILL RESULTS
Recent drill hole I-19-14A provided important geological information to prepare a substantial exploration
target estimate for a portion of the Idaho #2 Vein. This zone of mineralization is estimated to have a true
width of ~33 ft (10 m) and range in size from 540,000 – 800,000 tons.
Drill hole I -19-14A assayed 1.4 gpt gold over 14.9 m (0.04 oz per ton / 49.1 ft) including 6.2 gpt gold
over 1.9 m (0.18 oz per ton / 6.3 feet).
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Information from Drill hole I -19-14A provides geological context to previous inte rsections and historic
information in this area of the Idaho #2 V ein. Drilling shows two important veins of the Idaho #2 zone
which should be composited into a single zone.
Therefore, the previously released intersection for this area from drill hole I-19-13A is restated as 27.1
gpt gold over 14.8 m (0.79 oz gold per ton over 48.7 feet ) with a true width of 14.1 m (46.4 ft). All drill
hole intersections in this area of the Idaho #2 Vein are shown in Table 3.
A diabase dike is consistently present in the ha nging wall of the mineralized zone. A gold- quartz vein is
present immediately adjacent to the diabase (hanging wall vein). A second vein is separated from the
hanging wall vein by approximately 18 ft (the center vein). The rock between the two veins is int ensely
altered and contains persistent but lower grade gold values. A weaker vein (footwall vein), occurs at a
distance of approximately 20 ft from the center vein.
Historic drill hole I -2800-5 shows a similar style of mineralization with a hanging wall, c enter, and
footwall vein. The historic operator did not assay the mineralized material between the veins and therefore
31 feet of the 63-foot mineralized interval in historic drill hole I-2800-5 is assigned a zero-gold grade.
Drill hole I-19-13 and I-19-13A are closely spaced, approximately 1.5 m (5 ft) apart, and show consistent
geology but differ in grade substantially due to the coarse nature of the gold occurrence in this zone. For
example, a section of the center vein in I -19-13A assayed 458 gpt gold over 0.81 m (13.35 oz per ton
gold / 2.7 feet) and showed coarse gold in the retained half of the drill core as shown in Figure 2. The
corresponding sample from I-19-13 assayed 12.5 gpt gold over 0.85 m (0.36 oz per ton gold / 2.8 feet).
Rise Gold geologists inspected the retained half core from the corresponding I -19-13 interval and noted
gold just below the surface of the drill core. This retained sample was split a nd revealed coarse gold
present (shown in Figure 3), which may have res ulted in a much higher assay if the entire core was
submitted for assay.
Drill hole I-19-14A intersected the Idaho #2 Vein ~25.9 m (~85 feet) north of the mineralized intervals in
drill holes I-19-13 and I-19-13A.
Drill hole I-19-14 intersected the Idaho #2 Vein 19.8 m (~65 feet) north of I -19-14A. The vein shows a
sharp change in strike in this location, mirroring the historic drifting above on the I2700 level, and results
in a significant decrease in vein widths, intensity of alteration, and gold grades. Based on historic records
from the I2700 level above, it is suspected that gold grades may improve as the strike of the Idaho #2 Vein
turns towards the Idaho #3 Vein, approximately 70 m (230 ft) north of the I-19-14 intercept.
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FIGURE 2 – Visible Gold in Drill Intercept I-19-13A (in retained half core)
(Assayed 13.35 oz per ton / 2.7 feet)
FIGURE 3 – Visible Gold in Drill Intercept I-19-13 (in retained half core)
(Assayed 0.36 oz per ton / 2.8 feet)
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INITIAL EXPLORATION TARGET
The Company prepared an estimate of potential tonnages for a number of exploration targets where recent
drill results can be correlated with historic geology and operational data . Each zone was modelled using
Rise Gold’s drill hole information along with historic mapping and historic drilling where it was available.
To account for uncertainty in geometry, a low case value of 67% of the base case value is presented in the
exploration target summary. The historic mineralized material density of 12 ft3 / ton was used for tonnage
estimates.
The Initial Exploration Target only includes mineralization above the B3280 level which is the lowest
level of the existing historic mine. Rise Gold has drilled several important intersections much deeper than
the B3280 level which suggests important gold mineralization extends well below the B3280 level. The
historic operator also anticipated that gold mineralization continued well below the B3280 level and
invested significant capital to upgrade the mine hoist and was actively sinking the shaft towards the 5000 ft
level below surface. The historic operator reached a depth of 3470 ft below surface when the mine was
forced to close in 1942.
Drawings showing the location and geometry of the zones included in the Initi al Exploration Target can
be downloaded from the following link. All drawings are in imperial units and shown in mine grid
coordinates. The mine grid uses an elevation of 10,000 ft as the datum for sea level. Mine grid north is
similar to true north.
https://riseg.sharefile.com/d-s59c224538744036b
The estimated dimensions used for the calculation of the Initial Exploration Target is displayed in Table 2.
Drill intersections used for the modelling of the Initial Exploration target are displayed in Table 3 through
Table 5. Important Rise Gold drill intersections which were excluded from the Initial Exploration Target
are presented in Table 6.
TABLE 2 – Estimated Dimensions for Initial Exploration Target
Estimated
Block Zone
Strike Length
(ft)
Dip Length
(ft)
True Width
(ft)
Dip
(deg)
A Idaho #2 574 510 33 30
B Idaho #2 454 485 16 0 (flat)
C Idaho #2 - Splays 454 421 2 x 8 = 16 0 (flat)
D Idaho #1 Morehouse 497 754 8 35
E Idaho #1 1340 533 8 45 - 90
F Brunswick #1 438 461 26 35
G Brunswick #32 300 659 11 60
H Brunswick #10HW 480 378 8 60
I Brunswick #10 FW 480 378 9 60
J Brunswick #41 222 1085 23 45
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TABLE 3 – Rise Gold & Historic Drill Intersections within Idaho #2 Initial Exploration Target
Hole From
(ft) To (ft) From
(m) To (m) Gold
(gpt)
Gold
(oz
per
ton)
Intercept
Length
(ft)
Intercept
Length
(m)
Estimated
True
Width (ft)
Estimated
True
Width
(m)
Vein
I-19-13 3273.0 3323.8 997.60 1013.09 2.9 0.09 50.9 15.50 44.75 13.64 I2 - Bk-A
Including 3307.0 3323.8 1007.97 1013.09 5.5 0.16 16.8 5.12 14.78 4.51 center vn
I-19-13A 3263.6 3312.3 994.75 1009.57 27.0 0.79 48.7 14.83 46.40 14.14 I2 - Bk-A
Including 3298.3 3312.3 1005.31 1009.57 90.4 2.63 14.0 4.27 13.35 4.07 center vn
Including 3309.6 3312.3 1008.77 1009.57 458.0 13.35 2.7 0.81 2.53 0.77 center vn
I-19-14A 3328.2 3377.0 1014.42 1029.31 1.4 0.04 48.8 14.89 44.60 13.59 I2 - Bk-A
Including 3328.2 3334.5 1014.42 1016.36 6.2 0.18 6.3 1.94 5.80 1.77 hw vn
I-2800-5 (hist) 348.1 411.3 106.10 125.38 6.1 0.18 63.2 19.27 20.80 6.34 I2 - Bk-A
Including 348.1 358.6 106.10 109.30 7.3 0.21 10.5 3.20 3.45 1.05 I2 - Bk-A
Including 381.1 400.1 116.15 121.94 13.8 0.40 19.0 5.79 6.25 1.91 I2 - Bk-A
Including 408.8 411.3 124.61 125.38 19.2 0.56 2.5 0.76 0.82 0.25 I2 - Bk-A
I-18-10 3168.0 3189.0 965.61 972.01 3.2 0.09 21.0 6.40 18.40 5.61 I2 - Bk-B
I-2400-31 (hist) 623.6 668.9 190.07 203.87 11.1 0.32 45.3 13.80 13.89 4.23 I2 - Bk-B
Including 634.3 664.3 193.33 202.47 16.5 0.48 30.0 9.14 9.21 2.81 I2 - Bk-B
I-18-11 3197.4 3204.4 974.57 976.70 10.9 0.32 7.0 2.13 5.77 1.76 I2- Bk-C
I-18-11 3255.4 3262.6 992.25 994.44 11.9 0.35 7.2 2.19 5.87 1.79 I2- Bk-C
Including 3256.9 3258.6 992.70 993.22 35.6 1.04 1.7 0.52 1.39 0.42
TABLE 4 – Historic Drill Intersections & Channels within Idaho #1 Initial Exploration Target
Hole From
(ft) To (ft) From
(m)
To
(m)
Gold
(gpt)
Gold
(oz
per
ton)
Intercept
Length
(ft)
Intercept
Length
(m)
Estimated
True
Width (ft)
Estimated
True
Width
(m)
Vein
I-2400 W
historic channels 0.0 497.0 0.00 151.49 16.3 0.47 497.0 151.49 8.00 2.44 I1 - Mh
Including 0.0 37.3 0.00 11.37 37.3 1.09 37.3 11.37 8.00 2.44 I1 - Mh
Including 93.2 205.1 28.41 62.51 17.7 0.52 111.9 34.11 8.00 2.44 I1 - Mh
Including 248.6 329.4 75.77 100.40 47.3 1.38 80.8 24.63 8.00 2.44 I1 - Mh
Including 317.0 329.4 96.62 100.40 187.3 5.46 12.4 3.78 8.00 2.44 I1 - Mh
I-2400-40 (hist) 191.1 204.5 58.25 62.33 6.5 0.19 13.4 4.08 8.54 2.60 I1
Including 195.7 198.4 59.65 60.48 24.0 0.70 2.7 0.82 1.72 0.52
I-2400-40 (hist) 217.1 233.1 66.17 71.05 2.9 0.08 16.0 4.88 8.85 2.70 I1