Ryan Gold Corporation

Ryan Gold Corporation

October 31, 2012 09:12 ET

Ryan Gold Intersects More Gold Mineralisation, Including 18.78 m at 2.26 g/t Gold, at Ida Oro

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2012) - Ryan Gold Corp. (TSX VENTURE:RYG), "Ryan Gold" or the "Company") is pleased to announce significant drill results from its 100% owned Ida Oro Project, located approximately 85km east of Dawson City, Yukon.

A twenty eight diamond drill hole (7,525 m) program was completed at the Ida Oro property in 2012. Assays have now been received for the remaining fifteen holes of the program. Please see the September 11, 2012 News Release for results from the first thirteen holes.

Ida Oro Highlights Include:

  • Hole IO12-028 intersected 18.78 metres grading 2.26 g/t Au from 22.30 metres
  • Hole IO12-029 intersected 10.66 metres at 1.07 g/t Au from 6.95 metres
  • Hole IO12-030 intersected 8.07 metres at 1.63 g/t Au from 48.05 metres
  • Hole IO12-033 intersected 33.10 metres at 0.74 g/t Au from 2.00 metres

Summary of Drill Hole Results - Ida Oro

(#) (UTM) (UTM) (°) (°) FROM TO Interval (g/t)
(m) (m) (m)
IO12-020 7116389 372953 345 -60 No Significant Results
IO12-022 7115488 373157 180 -50 No Significant Results
IO12-027 7117686 372265 165 -55 10.95 12.15 1.20 1.25
17.57 19.81 2.24 0.73
26.18 30.24 4.06 0.73
227.20 229.20 2.00 0.76
IO12-028 7116399 372832 270 -50 22.30 41.08 18.78 2.26
Includes: 23.50 29.80 6.30 3.32
46.95 53.10 6.15 1.83
78.89 85.07 6.18 0.70
187.93 194.45 6.52 0.87
IO12-029 7117416 372678 165 -50 6.95 17.61 10.66 1.07
22.95 31.72 8.77 0.82
104.65 111.26 6.61 1.03
223.33 228.42 5.09 0.74
IO12-030 7117429 372571 165 -50 48.05 56.12 8.07 1.63
76.20 83.60 7.40 1.08
IO12-031 7117604 372317 165 -55 62.70 65.60 2.90 1.07
117.30 128.67 11.37 0.83
Includes: 117.30 118.30 1.00 5.24
155.80 158.83 3.03 1.02
229.58 231.39 1.81 1.36
IO12-032 7117473 372947 165 -45 No Significant Results
IO12-033 7117465 372353 165 -50 2.00 35.10 33.10 0.74
Includes: 20.00 22.00 2.00 2.21
Includes: 26.27 30.32 4.05 1.26
Includes: 33.36 35.10 1.74 1.87
59.67 62.67 3.00 0.74
76.28 77.94 1.66 0.87
108.20 109.20 1.00 1.02
IO12-034 7117485 372245 165 -50 238.39 240.39 2.00 1.50
250.77 251.77 1.00 1.32
IO12-035 7117147 373420 245 -50 No Significant Results
IO12-036 7114178 372615 19 -45 168.32 170.30 1.98 0.82
IO12-037 7117108 373483 210 -45 66.00 67.00 1.00 0.89
89.00 91.00 2.00 1.75
258.15 261.15 3.00 0.94
266.20 267.20 1.00 1.38
312.00 313.00 1.00 1.27
IO12-038 7114225 372284 19 -45 213.35 219.35 6.00 0.77
IO12-039 7117594 372724 165 -45 No Significant Results
A top and bottom cut-off of 41 g/t Au and 0.20 g/t Au was applied respectively as well as a maximum internal dilution of three metres in calculating grade and widths for specific intervals. All interval widths are down hole widths.

A total of 28 diamond drill holes were completed during the 2012 season. (Please see attached map: http://file.marketwire.com/release/2012_Drill_Plan_Season_End.jpg). The Company is encouraged by the results received from the 2011 and 2012 programs. Large low-grade gold intersections and smaller high-grade gold intersections have now been discovered on the property and remain open to depth and to the east and west. The 2012 drilling has highlighted the identification of several important structural features that play a role in the distribution of gold. In 2012 gold mineralisation was also found in porphyry style vein sets in intrusive granodioritic rock in the Io North Zone, that has potentially broadened the exploration target at Ida Oro beyond the metasediments.

Prior to the start of the 2013 field season, the Company will complete a thorough review of the exploration model at Ida Oro with a view to targeting areas of potentially higher grade mineralisation.


In total 7,906 drill core samples from Ida Oro have been sent for geochemical analysis. Drill cores for assaying were taken at a maximum of three metre intervals in the weathered zone, but predominantly at 1 metre intervals. Drill core was cut with a diamond saw with one-half of the core placed in sealed plastic bags. Sealed plastic sample bags were placed in a security sealed bag and delivered to ALS Chemex ("ALS Chemex") in Whitehorse, Yukon Territories. Here the entire sample was crushed passing minus 2mm, from which a 250g split of the crushed sample was pulverized passing minus 75 micron. Pulp samples of 100g were shipped to ALS Chemex Vancouver where the samples were analysed for gold by fire assay using a 50g aliquot with an ICP finish. An additional 0.5g sample analysed by aqua regia digestion was analysed for gold and an additional 51 elements with an ICP-MS finish.

As part of the Company`s QA/QC procedures, internationally recognised standards, duplicates and blanks were inserted into the sample batches. ALS Chemex is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

The exploration program was supervised by Andy Randell, Acting Chief Geologist of Ryan Gold. Ian Gendall, Pr.Sci.Nat., is providing his expertise as the qualified person within the definition of that term in NI 43-101. Mr. Gendall has also reviewed the technical information in this news release.

About Ryan Gold Corp.

Ryan Gold Corp. is an exploration company focussed on gold exploration primarily in the Yukon Territory, Canada. The Company is well funded and has a large land package of approximately 470,000 hectares comprised of 80 different properties. The company's flagship property is Ida Oro. During the summer of 2010 a soil sampling programme completed on Ida Oro revealed a significant, >100 ppb Au, gold-in-soil anomaly over an area of 4 km by 1.2 km. In 2011 the Company completed an 11 hole drill campaign for a total of 2,854 m. The Company has completed its 2012 drill programs on the Ida Oro and Flume Properties, and continues to systematically explore a number of its other properties.

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any mineral that may be produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitability, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed as an offer to buy or sell securities in the United States.

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.

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