Kinross Gold Commences 2025 Drill Program at Riley Gold's PWC Gold Project (Cortez District - Nevada)
Kinross Gold Commences 2025 Drill Program
at Riley Gold's PWC Gold Project (Cortez
District - Nevada)
Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) -
Riley Gold Corp. (TSXV: RLYG)
(OTCQB: RLYGF)
("
Riley Gold
" or the "
Company
") is pleased to announce that the 2025 drilling
campaign is underway at the Company's Pipeline West/Clipper Gold Project ("
PWC
") operated by
Kinross Gold U.S.A., Inc. ("
Kinross
"), a wholly-owned subsidiary of Kinross Gold Corporation (TSX: K)
(NYSE: KGC).
"We are happy that Kinross is ahead of schedule and to have the 2025 drilling well underway at PWC.
As highlighted in our April 29, 2025 news release, the Kinross technical team along with Riley Gold's
Paul Dobak, have defined high-priority framework drill targets in the highest-grade gold-in-soils
anomaly known area on the property. These are exciting targets, based on geological and
geophysical data interpretation, in areas that have never been drill tested within our 25 square km
land package. Our PWC project is within the Cortez District that has a significant history of gold
production and current reserves.
PWC adjoins Nevada Gold Mines LLC ("
NGM
"), a joint venture
between Barrick Gold Corp. and Newmont Corporation, that has current production within their
Cortez/Pipeline complex,"
commented Todd Hilditch, CEO of Riley Gold.
2025 Kinross Exploration Plan and Map
A comprehensive geologic model was built for comparison with the many Cortez Districts >5.0-million-
ounce gold discoveries. The new step-out wide spaced framework drill holes are being spotted
approximately 2.5 kilometers ("
km
") (up to 8,200 feet) northwest of the first Kinross drill hole in 2024
(
see Figure 1 below
) and include northwest vectoring to the highest-grade surface geochemical gold
anomalies from the soil survey near the intersection of two major structures. The primary target is a large,
disseminated gold deposit peripheral to the Gold Acres stock, which is the geologic setting for NGM's
Pipeline gold deposit (see Figure 2 property location).
Compiled geologic mapping, geophysical surveys, historical drill results, and gold-in-soil survey results
uploaded in Leapfrog software support the new 2025 drill hole locations. Recent geologic modeling and
interpretation by Kinross also provides a supporting structural foundation and information for the 2025
Drill Program.
Additional soil sampling is planned by Kinross for the 2025 field season to increase surface
geochemical coverage adjacent to the 2023 soil survey completed by Riley Gold.
The previous soil
survey returned significant anomalous gold-in-soil values that extended more than 3 km. Several
pathfinder elements, associated with both Carlin-type and intrusive-related gold deposits, were also
elevated in the first soil survey.
Figure 1 - 2025 Drill Target Area
To view an enhanced version of this graphic, please visit:
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Riley Gold entered into an exploration and venture option agreement (the "
Agreement
") with Kinross on
March 13, 2024. The Agreement grants Kinross the right to earn up to a 75% interest in Riley Gold's
PWC project by spending a minimum of US$20 million (see news release dated March 14, 2024 for
details).
PWC is located in Lander County, Nevada and consists of approximately 24.7 km² in the heart
of the significant gold producing Cortez District (Battle Mountain - Eureka Trend).
Kinross is funding and
operating PWC and has a strategic 9.9% (on a partially diluted basis) equity interest in the Company
acquired through a private placement.
About PWC
PWC constitutes a very prospective exploration property for Carlin-type, disseminated and replacement
gold deposits.
PWC consists of a land package totaling approximately 24.7 square kms of unpatented
mining claims and patented fee lands adjoining NGM.
PWC is situated along the Cortez Structural Zone
of the exceptionally productive Cortez Trend within the Battle Mountain - Eureka Trend in north central
Nevada (Figure 2). The Cortez and Pipeline complexes (adjoining Riley's PWC project boundary) are
top producers within Nevada, a State that has consistently produced between 4-5 million ounces of gold
a year.
Figure 2: PWC Location (project boundary approximate)
To view an enhanced version of this graphic, please visit:
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Tokop Gold Project
The Company also wishes to report that it has terminated all agreements related to its Tokop Gold
Project and has relinquished the property. Previous drilling on the property did not provide results that
warranted continued exploration under current junior market conditions. The Company is electing to
preserve cash and reduce costs.
Qualified Person
This news release has been reviewed and approved by Richard DeLong, P.Geo., Director of Riley Gold
and a 'qualified person', as defined by National Instrument 43-101, Standards of Disclosure for Mineral
Projects.
About Riley Gold Corp.
Riley Gold is an exploration and development company focused in Nevada, USA, of the Pipeline
West/Clipper Gold Project located in the Battle Mountain Eureka Trend within the Cortez District.
Riley
Gold's founders and leadership team have a proven track record of maximizing shareholder value during
each phase of the mining life cycle: exploration, development, and production.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Todd Hilditch
Chief Executive Officer
Tel: (604) 443-3831
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary statement regarding forward-looking information
This press release contains statements which constitute "forward-looking information" under applicable
Canadian securities laws, including statements regarding plans, intentions, beliefs and current
expectations of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its
management, are intended to identify such forward-looking information. Although Riley Gold believes
that the expectations reflected in these forward-looking statements are reasonable, undue reliance
should not be placed on them because Riley Gold can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties and the Company's future business activities may differ materially
from those in the forward-looking information as a result of various factors, including, but not limited to,
fluctuations in market prices, successes of the operations of the Company, continued availability of
capital and financing and general economic, market or business conditions and the ability to obtain the
requisite approvals of the TSX Venture Exchange when necessary. Investors are cautioned that any such
forward-looking information is not a guarantee of future business activities and involves risks and
uncertainties. Additional information on these and other factors that could affect Riley Gold operations
and financial results are included in reports on file with Canadian securities regulatory authorities and
may be accessed through the SEDAR+ website (
www.sedarplus.ca
). There can be no assurances that
such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of
such uncertainties. The Company does not assume any obligation to update any forward-looking
information except as required under the applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/253742