Infill Drilling at Rainy River Returns 58.0 g/t Gold Over 3.0 Metres
TORONTO, ONTARIO -- (Marketwire) -- 10/26/10 -- Rainy River Resources Ltd. ('Rainy River' or the 'Company') (TSX VENTURE: RR) is pleased to announce drill results from the Rainy River Gold Project in Northwestern Ontario.
Highlights
-- Ongoing infill drilling at Rainy River continues to deliver high grade
results
-- HS Zone returns 58.0 g/t gold over 3.0 metres, including 113.6 g/t gold
over 1.5 metres
-- 433 Zone high grade intercepts continue with 33.6 g/t gold over 3.0
metres
-- ODM infill returns thick intercepts of 3.7 g/t gold over 43.5 metres and
2.5 g/t gold over 40.5 metres
The latest series of results from the Company's infill drilling program at the Rainy River Gold Project are reported here with assays for 7 drill holes, summarized below in Table 1 - Summary of Results.
To view the maps associated with this release, please click here: http://media3.marketwire.com/docs/rr1026ma.pdf.
HS & 433 Zone
The most recent infill results from the 433 and HS Zones demonstrate the presence of high grade gold mineralization between 70 metres and 300 metres below surface. The HS Zone lies stratigraphically and structurally above the 433 Zone and remains an attractive target for additional ounces. Drill hole NR10-572 was designed to infill the 433 Zone but also intersected high grade gold mineralization in the HS Zone, yielding 3.0 meters of 58.0 g/t gold including 1.5 metres grading 113.6 g/t gold. Further down the same hole, a second high grade intercept was reported in the 433 Zone - 3.0 metres of 33.6 g/t gold including 1.5 metres grading 51.5 g/t gold. Other results within the 433 Zone include NR10-571 with 12.3 g/t gold over 1.5 metres (433 HW) and NR10-563 with 1.7 g/t gold over 32.4 metres, including 6.0 metres of 5.7 g/t gold.
ODM Zone
In the ODM Zone, excellent grades and widths were obtained in the latest round of infill drilling. Two holes in particular show the bulk mining potential of the zone with drill hole NR10-567 intersecting 43.5 metres grading 3.7 g/t gold, including 15.0 metres grading 6.7 g/t gold, which in turn includes two 1.5 metre intervals grading 21.4 and 17.4 g/t gold at a depth of approximately 300 metres. Drill hole NR10-531 also intersected a wide interval with an intercept of 40.5 metres that assayed 2.5 g/t gold, including 3.0 metres of 21.5 g/t gold and 1.5 metres of 25.2 g/t gold at a depth of 594 metres. Other notable results within the ODM Zone include hole NR10-558 with 52.5 metres grading 0.83 g/t gold and NR10-568 with 16.5 metres of 0.66 g/t gold and 10.5 metres of 0.74 g/t gold.
Commentary
'These results highlight the size and quality of the gold system we are dealing with,' commented Raymond Threlkeld, President and CEO. 'The flexibility the deposit offers for development, combined with local infrastructure and availability of labour and services, set it apart from other major gold deposits in Canada. The infill program has also shown that the 433 and ODM Zones remain open below 600 metres and the potential to discover additional resources is very good, given our deepest intercept of 11.5 g/t gold over 3.0 metres at approximately 1,300 metres below surface. We will be following up on the best step-out targets in the new year with an initial 50,000 metre exploration program, including testing the down-dip extension of our primary gold zones to 2,000 metres below surface.'
Qualified persons
Rainy River's exploration program in Richardson Township is being supervised by Stuart Averill, P.Geo. Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101. Garett Macdonald, P.Eng., is the person responsible for the content of this news release. The Company continues to implement a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core. The procedures of the QA/QC program are detailed on Rainy River's website at www.rainyriverresources.com.
About Rainy River
Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With approximately $75 million in its treasury the Company is well funded to conduct a dual-focused drilling program consisting of: 1) definition diamond drilling of the main gold resources in preparation for scoping and prefeasibility studies, and 2) selective diamond drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centered in Richardson Township. The Company's property is extremely well located in the southwestern corner of Northern Ontario near the U.S. border. It is accessed by a network of roads and is close to hydro-electric infrastructure. The Rainy River district has a skilled labour force and is one of the lowest-cost areas for mineral exploration and development. Ontario has low political risk and, according to the annual Fraser Institute global survey of the mining industry, has consistently ranked as one of the top jurisdictions embracing mineral development.
RAINY RIVER RESOURCES LTD.
Raymond Threlkeld, President & CEO
This release includes certain statements that may be deemed to be 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Table 1: Summary of Results
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FROM LENGTH AU
HOLE-ID SECTION ELEVATION Vertical (m) TO (m) (m) (g/t) ZONE
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NR10531 425235 34 -316 339.5 341.00 1.5 1.31 SOUTH
425268 -246 -596 642.5 683.00 40.5 2.46 ODM
INCL 425268 -243 -593 657.5 660.50 3.0 21.47 ODM
INCL 425268 -242 -592 657.5 659.00 1.5 17.71 ODM
AND 425268 -244 -594 659.0 660.50 1.5 25.23 ODM
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NR10558 425327 108 -242 234.0 286.50 52.5 0.83 ODM
INCL 425326 127 -223 238.5 240.00 1.5 6.52 ODM
425331 -56 -406 439.5 441.00 1.5 3.14 HS
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NR10563 425723 206.3 -144 144.5 146.00 1.50 4.04 HS
425726 82.9 -267 270.5 272.00 1.50 5.29 433 HW
425728 41.5 -308 298.1 330.50 32.40 1.67 433
INCL 425729 28.5 -322 324.5 330.50 6.00 5.66 433
INCL 425729 30.6 -319 324.5 326.00 1.50 16.79 433
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NR10567 425440 59 -291 292.5 336.00 43.5 3.74 ODM
INCL 425440 56 -294 310.5 325.50 15.0 6.71 ODM
INCL 425439 62 -288 310.5 312.00 1.5 21.44 ODM
AND 425440 49 -301 324.0 325.50 1.5 17.39 ODM
NR10567 425443 17 -333 358.5 361.50 3.0 2.06 HS
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NR10568 425519 287 -63 64.5 70.50 6.0 0.67 CAP
425547 -97 -447 490.5 507.00 16.5 0.66 ODM
425549 -113 -463 513.0 523.50 10.5 0.74 ODM
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NR10571 425721 68 -282 278.0 287.00 9.0 2.48 433 HW
INCL 425721 66 -284 284.0 285.50 1.5 12.29 433 HW
425722 -17 -367 365.0 371.00 6.0 0.81 433
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NR10572 425796 279 -71 90.5 93.50 3.0 58.00 HS
INCL 425796 280 -70 90.5 92.00 1.5 113.61 HS
425793 191 -159 204.5 211.70 7.2 0.94 433
425793 170 -180 227.0 245.00 18.0 0.70 433
425793 144 -206 269.0 272.00 3.0 33.63 433
INCL 425793 145 -205 269.0 270.50 1.5 51.53 433
AND 425793 144 -206 270.5 272.00 1.5 15.72 433
425800 52 -298 392.0 393.50 1.5 6.38 433 FW
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Neither 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.
Contacts:
Rainy River Resources Ltd.
Liz Caridi
Director of Investor Relations and Corporate Governance
(604) 639-4497
lcaridi@rainyriverresources.com
www.rainyriverresources.com