Rainy River Announces Significant Infill Drilling Results
TORONTO, ONTARIO -- (Marketwire) -- 11/16/10 -- Rainy River Resources Ltd. (TSX VENTURE: RR) ('Rainy River' or the 'Company') is pleased to announce drill results from the Rainy River Gold Project in Northwestern Ontario.
Highlights
-- Infill drilling continues to return significant high grade intercepts
and an important new discovery on the west side of the 17 Zone (448 g/t
Au over 1.5 metres).
-- The ODM Zone continues to show good continuity of high grade (32.7 g/t
Au over 9.0 metres) and wide intervals of lower grade gold
mineralization (2.2 g/t Au over 30 metres).
Results from all holes are summarized in Table 1: Summary of Results, at the end of this release.
To view the images accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/rr1116.pdf
New 17 Zone Mineralization
Two drill holes, NR10-576 and NR10-580, intersected the west flank of the 17 Zone at a depth of approximately 365 metres. Drill Hole NR10-580 was drilled 75 metres up-dip from NR10-576. The structure encountered is interpreted to be a westerly plunging fold situated along a footwall fault to the ODM-17 Zone. These results indicate a new gold zone within an area that has seen limited exploration below 300 metres depth.
NR10-576: 448 g/t (13.06 oz/ton) gold over 1.5m from 555.5m to 557.0m
and 1.8 g/t gold over 9.8m from 460.2m to 470.0m and 2.81 g/t
gold over 10.5m from 534.5m to 545.0m
NR10-580: 8.7 g/t gold over 17.5m including 88.9 g/t gold (2.59 oz/ton)
over 1.5m from 382.5m to 400.0m
Other notable results from the 17 zone include:
NR10-589: 1.4 g/t gold over 19.5m from 276.5m to 296.0m and 1.3 g/t
gold over 7.5m from 353.0m to 360.5m
NR10-583: 1.0 g/t gold over 19.5m from 417.5m to 437.0m and 0.8 g/t
gold over 13.5m from 491.0m to 504.5m
ODM Zone Drilling
Infill drilling in the ODM Zone within conceptual open pit depths returned the following intercepts:
NR10-578: 32.7 g/t gold over 9.0m from 314.0m to 323.0m drill depth,
including 187.7 g/t (5.47 oz/ton) over 1.5m
NR10-560: 7.9 g/t gold over 2.0m from 482.0m to 484.0m drill depth.
This hole also intersected mineralization in the Cap zone
with 1.4 g/t gold over 7.5m from 69.0m to 76.5m
NR10-571: 2.5 g/t gold over 9.0m from 278.0m to 287.0m drill depth
NR10-559: 1.1 g/t gold over 15.0m from 303.5m to 318.5m drill depth and
1.4 g/t gold over 13.5m from 327.5m to 341.0m drill depth.
This hole also intersected mineralization in the Cap zone
with 8.3 g/t gold over 1.5m from 12.5m to 14.0m
NR10-586: 2.2 g/t gold over 30.0m from 455.0m to 485.0m including 19.4
g/t gold over 1.0m. An intercept of 6.4 g/t gold over 1.5m
was also reported from the Cap zone between 119.0m and 120.5m
drill depth
433 Zone Drilling
Recent results from the infill drilling within the 433 Zone returned several mineralized intersections, including:
NR10-561: 2.4 g/t gold returned over 18.0m from 368.0m to 386.0m drill
depth, including 15.2 g/t gold over 1.5m
NR10-562: 0.9 g/t gold over 31.5m from 377.0m to 408.5m drill depth
NR10-564: 5.6 g/t gold over 1.5m from 278.5 to 280.0m, 1.4 g/t gold
over 16.5m from 296.5m to 313.0m and 0.83 g/t gold over 16.5m
from 329.5m to 346.0m
NR10-565: 2.0 g/t gold returned over 19.8m from 252.2m to 272.0m drill
depth, including a higher grade interval of 18.1 g/t gold
over 1.5m
Commentary
'These recent infill results have delivered some very high grade intersections in the ODM, 17 and 433 Zones, all at relatively shallow depths,' commented Raymond Threlkeld, President and CEO. 'Work has begun to prepare the updated NI 43-101 resource estimate using the latest information from the infill program and structural interpretation work completed by our consultants. Year to date the company has drilled over 96,000 metres at the Rainy River Gold Project which is a major accomplishment and a credit to the exploration team we've assembled.'
Qualified persons
Rainy River's exploration program in Richardson Township is being supervised by Kerry Sparkes, 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 $70 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
----------------------------------------------------------------------
VERTICAL
DEPTH FROM TO LENGTH Au
HOLE-ID SECTION (m) (m) (m) (m) g/t ZONE
----------------------------------------------------------------------
NR10559 425300 12 12.5 14.0 1.5 8.26 CAP
425309 256 279.5 281.0 1.5 1.39 ODM HW
425309 259 282.5 284.0 1.5 1.76 ODM HW
425312 284 303.5 318.5 15.0 1.12 ODM
425313 305 327.5 341.0 13.5 1.38 ODM
----------------------------------------------------------------------
NR10560 425574 25 26.0 27.0 1.0 1.43 CAP
425574 68 69.0 76.5 7.5 1.40 CAP
425575 129 138.0 139.5 1.5 3.28 CAP
425588 443 482.0 484.0 2.0 7.87 17-ODM GAP NEW
----------------------------------------------------------------------
NR10561 425675 146 145.0 146.0 1.0 4.67 HS
425684 377 368.0 386.0 18.0 2.39 433
INCL 425684 376 375.5 377.0 1.5 15.23 433
----------------------------------------------------------------------
NR10562 425633 393 377.0 408.5 31.5 0.90 433
425640 528 530.0 531.5 1.5 2.25 433 FW
----------------------------------------------------------------------
NR10564 425702 211 211.0 212.5 1.5 2.96 HS
425703 255 256.5 258.0 1.5 1.92 HS
425704 277 278.5 280.0 1.5 5.85 433
425705 302 296.5 313.0 16.5 1.40 433
425706 334 329.5 346.0 16.5 0.83 433
----------------------------------------------------------------------
NR10565 425750 154 164.0 165.5 1.5 1.09 HS
425751 241 252.2 272.0 19.8 1.97 433
INCL 425751 236 254.0 255.5 1.5 18.12 433
----------------------------------------------------------------------
NR10569 425524 81 78.0 94.1 16.1 0.54 CAP
425537 384 420.0 421.5 1.5 3.05 17-ODM GAP NEW
425541 440 486.0 487.5 1.5 3.16 17-ODM GAP NEW
----------------------------------------------------------------------
NR10570 425778 290 294.5 300.5 6.0 0.45 433
----------------------------------------------------------------------
NR10573 425846 60 72.5 74.0 1.5 5.96 HS
425846 67 78.5 86.0 7.5 0.80 HS
425845 88 105.5 111.5 6.0 1.32 HS
425842 188 228.5 243.5 15.0 0.47 433
425842 211 264.5 266.0 1.5 5.25 433
----------------------------------------------------------------------
NR10574 425797 84 94.0 96.5 2.5 3.28 HS
425796 111 125.0 126.5 1.5 1.93 HS
425795 132 150.5 152.0 1.5 1.64 HS
425796 169 188.0 200.0 12.0 0.87 HS
425797 204 218.0 254.0 36.0 0.74 433
425808 329 384.0 385.0 1.0 4.59 433 FW
----------------------------------------------------------------------
NR10576 425786 405 437.0 444.5 7.5 2.94 17
INCL 425786 403 437.0 438.5 1.5 10.89 17
425788 427 460.2 470.0 9.8 1.81 17
INCL 425788 423 460.2 461.0 0.8 7.55 17
425792 470 512.0 515.0 3.0 5.35 17
425795 493 534.5 545.0 10.5 2.81 17
INCL 425795 493 539.0 540.5 1.5 8.62 17
425796 508 555.5 557.0 1.5 448.56 17
----------------------------------------------------------------------
NR10577 425799 471 522.5 530.0 7.5 1.56 17
425811 524 585.5 594.5 9.0 1.92 17
----------------------------------------------------------------------
NR10578 425350 13 14.0 15.5 1.5 2.01 CAP
425355 293 314.0 323.0 9.0 32.74 ODM
INCL 425354 291 315.5 317.0 1.5 187.69 ODM
----------------------------------------------------------------------
NR10580 425763 331 362.5 364.0 1.5 1.18 17
425764 337 370.0 371.5 1.5 1.02 17
425765 346 380.5 381.0 0.5 1.16 17
425766 355 382.5 400.0 17.5 8.72 17
INCL 425765 348 382.5 383.0 0.5 7.56 17
AND 425766 359 394.0 395.5 1.5 88.94 17
425775 432 470.5 481.0 10.5 0.77 17
----------------------------------------------------------------------
NR10581 425449 91 94.5 96.0 1.5 7.21 CAP
425450 142 148.5 151.5 3.0 6.97 CAP
425450 163 169.5 178.5 9.0 0.93 CAP
425468 421 468.0 469.5 1.5 5.55 ODM
425469 431 480.0 481.5 1.5 2.64 ODM
425470 443 493.5 495.0 1.5 3.01 ODM
425476 487 547.5 549.0 1.5 7.77 ODM
----------------------------------------------------------------------
NR10583 425804 369 404.0 405.5 1.5 1.18 17
425806 389 417.5 437.0 19.5 0.98 17
425816 451 491.0 504.5 13.5 0.81 17
----------------------------------------------------------------------
NR10586 425426 66 69.5 71.0 1.5 1.15 CAP
425427 76 80.0 81.5 1.5 1.46 CAP
425428 84 89.0 90.5 1.5 1.13 CAP
425428 104 110.0 111.5 1.5 1.25 CAP
425428 105 111.5 113.0 1.5 1.28 CAP
425429 112 119.0 120.5 1.5 6.35 CAP
425452 391 432.5 434.0 1.5 3.45 ODM
425455 423 455.0 485.0 30.0 2.23 ODM
INCL 425455 423 472.7 485.0 12.3 3.94 ODM
INCL 425455 423 477.0 481.0 4.0 9.14 ODM
INCL 425455 429 477.0 478.0 1.0 19.36 ODM
----------------------------------------------------------------------
NR10589 425684 252 276.5 296.0 19.5 1.39 17
425690 311 353.0 360.5 7.5 1.34 17
----------------------------------------------------------------------
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