Rainy River Resources Intersects 1,335.0 g/t Gold & 76.7 g/t Silver Over 1.5 Metres Near Surface in Western Area
TORONTO, ONTARIO -- (Marketwire) -- 07/06/11 -- Rainy River Resources Ltd. (TSX VENTURE: RR) (the 'Company' or 'Rainy') is pleased to announce assay results from the Rainy River Gold Project in northwest Ontario where the Company is completing 170,000 metres of diamond drilling in 2011. Results are summarized in Table 1.
Highlights
-- Western Area continues to expand with high-grade gold and silver
-- NR11719 intersects 1,335.0 g/t gold and 76.7 g/t silver over 1.5 metres
located 42 metres below surface
-- NR11711 intersects 4.4 g/t gold over 10.5 metres and NR11731 intersects
3.9 g/t gold over 22.5 metres
-- Infill program returns 1.2 g/t gold and 1.8 g/t silver over 93 metres in
ODM Zone
Western Area
The Western Area is a new exploration target located approximately 800 metres northwest of the Beaver Pond ('BP') Zone, lying within a large magnetic low trend that hosts the Rainy River gold deposit and stretches over 10 km to the west. Drilling has continued on this zone since the first significant gold intersection was reported in the March 30, 2011 press release, where hole NR11648 intersected 7.1 g/t gold and 23.0 g/t silver over 9.0 metres.
Eleven new shallow holes are reported in this release. The three most prominent holes include NR11719, which intersected 1,335.0 g/t gold and 76.7 g/t silver over 1.5 metres directly at the overburden-bedrock contact, located 42 metres below surface. In addition, hole NR11711 intersected 4.4 g/t gold and 1.2 g/t silver over 10.5 metres, and hole NR11731 intersected 3.9 g/t gold and 9.8 g/t silver over 22.5 metres. Significant gold mineralization has been intersected at relatively shallow depths, with results beginning to demonstrate the potential for continuity that may eventually develop into a new near-surface mineralized zone. Drilling will continue to expand this mineralization to the south and also towards the main resource pit.
Infill Program
The first results from the infill program returned wide intersections of continuous gold mineralization. This program is primarily designed to upgrade inferred resources into the measured and indicated categories for incorporation into a future feasibility study. Drill hole KCBL101, originally drilled for geotechnical purposes, has now been assayed and has returned 1.2 g/t gold and 1.8 g/t silver over 93 metres in the heart of the ODM zone from 230 to 323 metres down hole including 4.1 g/t gold and 3.0 g/t silver over 9.0 metres from 248 - 257 metres down hole. NR11718 returned values of 1.8g/t gold over 39 metres, including 4.2 g/t gold over 13.0 metres in the 17 East Zone, while NR11729 returned values of 1.0 g/t gold over 11.0 metres, and NR11724 returned values of 16.5 g/t gold and 16.9 g/t silver over 1.5 metres. Six rigs are currently on site for infill drilling.
District Exploration
The Company's district exploration program is ongoing, with one drill rig following up on gold-in-till anomalies identified from past reverse circulation drill programs, and a second drill rig is completing a north - south fence of stratigraphic holes through the property for geological purposes. Exploration drilling north of the main deposit area continues to return encouraging results, including drill hole NR11692 with 7.9 g/t gold reported over 1.5 metres, drill hole NR11693 with 34.2 g/t gold over 1.5 metres, and drill hole NR11694 which intersected 5.3 g/t gold over 1.5 metres.
Commentary
Raymond Threlkeld, President and CEO, adds 'These results are very encouraging and confirm our belief that the Western Area has the potential to add resources to the project. Grades and widths appear to be increasing as we explore towards the Beaver Pond Zone, and the Company will be conducting further drilling in this area over the next few months. Early results from our district exploration program have identified several narrow, high-grade intercepts which represent excellent target areas for further exploration.'
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., Vice President Operations and Kerry Sparkes P.Geo. are the persons 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. All drill core is marked for sampling and then split in half with a diamond saw blade. Samples are placed in sealed bags with security tags. All samples were assayed using a standard fire assay, 30 gram nominal sample weight with an AA finish. Over-limit samples were re-assayed with a gravimetric finish. Samples with visible gold were automatically analyzed for Ore Grade by 1,000g screen fire assay, with coarse and fine fractions being combined proportionately and the fine fraction being assayed twice. Standards, blanks and duplicates are inserted every 25 metres. ALS Canada Ltd. performed primary assaying, with duplicates being analyzed at Activation Laboratories Ltd. ALS Canada Ltd. and Activation Laboratories Ltd. implement independent QA/QC protocols that include the insertion of certified blanks and standards as part of their routine analysis.
About Rainy River Resources Ltd.
Rainy River Resources is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With over $120 million in cash and short term investments, 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 pre-feasibility studies, and 2) selective diamond-drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centred 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. The Company is also working to advance the early-stage discoveries at its TPK Joint Venture Property, also in Ontario, where it can earn a 51% interest in the property from Northern Superior Resources Inc. 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 W. 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 fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although the Company 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 may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.
Table 1 Summary of Results
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VERTI-
CAL CORE
DEP- LEN-
HOLE- TH FROM TO GTH AU AG
ID SECTION (M) (M) (M) (M) (G/T) (G/T) ZONE COMMENTS
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KCBL101 425482 268 230.0 323.0 93.0 1.2 1.8 ODM GEOTECHNICAL
INCL 425482 244 248.0 257.0 9.0 4.1 3.0 ODM GEOTECHNICAL
INCL 425482 245 252.0 255.0 3.0 8.2 5.4 ODM GEOTECHNICAL
425482 272 281.0 282.0 1.0 22.7 6.4 ODM GEOTECHNICAL
425482 330 336.0 345.0 9.0 0.7 1.6 ODM GEOTECHNICAL
425482 356 366.0 367.0 1.0 1.5 1.3 ODM GEOTECHNICAL
425482 371 381.0 382.0 1.0 1.2 3.3 ODM GEOTECHNICAL
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NR11690 425716 54.0 69.5 72.7 3.2 1.0 11.1 DISTRICT EXPLORATION
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NR11692 425874 52 66.5 68.0 1.5 2.3 1.1 NORTHERN EXPLORATION
425874 63 81.5 83.0 1.5 1.8 0.9 NORTHERN EXPLORATION
425873 102 132.5 134.0 1.5 1.1 0.7 NORTHERN EXPLORATION
425874 137 179.0 180.5 1.5 7.9 3.9 NORTHERN EXPLORATION
425874 164 215.0 216.5 1.5 1.6 4.0 NORTHERN EXPLORATION
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NR11693 425787 176 240.5 242.0 1.5 34.2 2.7 NORTHERN EXPLORATION
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NR11694 425461 59 75.0 76.5 1.5 5.3 1.8 NORTHERN EXPLORATION
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NR11696 425934 32 40.0 43.0 3.0 1.1 1.2 NORTHERN EXPLORATION
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NR11699 424051 162 204.5 209.0 4.5 1.8 25.5 WESTERN EXPLORATION
AREA
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NR11700 423993 95 118.0 120.0 2.0 2.2 21.4 WESTERN EXPLORATION
AREA
423995 128 160.5 162.0 1.5 1.6 11.7 WESTERN EXPLORATION
AREA
424024 305 393.0 394.5 1.5 1.2 3.5 WESTERN EXPLORATION
AREA
424025 309 399.0 400.5 1.5 1.7 0.8 WESTERN EXPLORATION
AREA
424033 350 453.0 454.5 1.5 1.3 1.3 WESTERN EXPLORATION
AREA
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NR11701 426083 488 537.0 540.0 3.0 3.8 7.6 17 EAST INFILL
426083 494 544.5 546.0 1.5 1.1 38.0 17 EAST INFILL
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NR11702 425979 512 593.0 603.5 10.5 1.0 10.9 17 EAST INFILL
INCL 425979 508 593.0 594.5 1.5 0.9 18.4 17 EAST INFILL
425987 541 633.2 641.0 7.8 1.3 26.2 17 EAST INFILL
INCL 425986 538 633.2 634.2 1.0 0.2 30.8 17 EAST INFILL
AND 425986 540 635.0 636.5 1.5 0.7 56.9 17 EAST INFILL
AND 425987 543 639.5 641.0 1.5 4.6 36.4 17 EAST INFILL
425992 561 659.0 669.5 10.5 0.7 15.1 17 EAST INFILL
INCL 425992 561 663.5 665.0 1.5 0.5 40.5 17 EAST INFILL
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NR11703 426154 461 525.0 526.5 1.5 1.9 10.8 17 EAST INFILL
426162 502 574.5 576.0 1.5 2.1 38.3 17 EAST INFILL
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NR11704 425201 83 111.0 112.5 1.5 1.8 1.1 DISTRICT EXPLORATION
425201 93 124.5 126.2 1.7 2.8 0.4 DISTRICT EXPLORATION
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NR11706 425858 533 610.1 612.0 1.9 2.5 31.6 17 EAST INFILL
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NR11707 425160 165 192.5 194.0 1.5 2.0 0.4 DISTRICT EXPLORATION
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NR11708 424084 134 167.0 176.0 9.0 0.7 0.4 WESTERN EXPLORATION
AREA
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NR11709 426130 431 478.5 480.0 1.5 0.7 13.1 17 EAST INFILL
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NR11710 426076 372 415.5 416.3 0.8 1.2 11.9 17 EAST INFILL
426079 398 445.5 447.0 1.5 0.1 19.8 17 EAST INFILL
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NR11711 424130 49 60.5 62.0 1.5 1.2 1.6 WESTERN EXPLORATION
AREA
424130 93 112.5 123.0 10.5 4.4 1.2 WESTERN EXPLORATION
AREA
INCL 424131 96 120.5 121.7 1.2 29.6 1.5 WESTERN EXPLORATION
AREA
424132 127 159.5 161.0 1.5 1.3 1.9 WESTERN EXPLORATION
AREA
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NR11712 426012 498 541.5 546.0 4.5 0.4 78.8 17 EAST INFILL
INCL 426012 498 543.0 544.5 1.5 0.7 184.0 17 EAST INFILL
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NR11713 425105 172 200.0 201.5 1.5 3.6 0.3 DISTRICT EXPLORATION
425109 245 287.0 288.5 1.5 1.4 1.5 DISTRICT EXPLORATION
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NR11714 424134 182 233.0 234.5 1.5 0.4 14.1 WESTERN EXPLORATION
AREA
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NR11715 425966 579 633.5 636.5 3.0 0.5 32.6 17 EAST INFILL
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NR11716 424080 25 30.5 32.0 1.5 1.2 1.0 WESTERN EXPLORATION
AREA
424080 132 164.0 171.5 7.5 1.4 0.5 WESTERN EXPLORATION
AREA
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NR11717 426021 411 456.0 460.5 4.5 0.4 25.7 17 EAST INFILL
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NR11718 425842 124 133.0 172.0 39.0 1.8 1.1 17 INFILL
INCL 425842 114 133.0 146.0 13.0 4.2 1.9 17 INFILL
INCL 425842 114 139.0 140.0 1.0 42.5 6.3 17 INFILL
425843 133 155.0 172.0 17.0 0.9 0.7 17 INFILL
425843 154 189.0 191.0 2.0 2.5 4.4 17 INFILL
425887 300 221.0 229.0 8.1 1.3 5.1 17 INFILL
425846 219 273.0 274.0 1.0 2.0 92.2 HS INFILL
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NR11719 424029 42 51.5 53.0 1.5 1335.0 76.7 WESTERN EXPLORATION
AREA
424028 60 74.0 75.5 1.5 1.6 10.1 WESTERN EXPLORATION
AREA
424027 263 339.5 341.0 1.5 1.7 1.0 WESTERN EXPLORATION
AREA
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NR11720 425099 64 81.4 83.0 1.6 0.5 1.1 DISTRICT EXPLORATION
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NR11721 426077 321 364.5 370.5 6.0 0.4 60.1 17 EAST INFILL
INCL 426077 319 364.5 366.0 1.5 0.8 32.0 17 EAST INFILL
AND 426077 323 369.0 370.5 1.5 0.6 200.0 17 EAST INFILL
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NR11722 424030 33 38.2 40.4 2.2 0.9 4.4 WESTERN EXPLORATION
AREA
424030 169 205.0 206.5 1.5 1.2 1.5 WESTERN EXPLORATION
AREA
424035 239 293.5 295.0 1.5 1.2 1.1 WESTERN EXPLORATION
AREA
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NR11724 425931 196 210.5 212.0 1.5 6.8 2.8 HW 17 INFILL
425933 225 243.0 244.5 1.5 1.6 2.9 HW 17 INFILL
425949 486 535.0 537.0 2.0 3.7 18.2 17 EAST INFILL
425949 492 541.5 543.0 1.5 5.3 3.6 17 EAST INFILL
425950 498 549.0 550.5 1.5 16.5 16.9 17 EAST INFILL
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NR11725 424042 95 119.5 121.0 1.5 0.7 11.3 WESTERN EXPLORATION
AREA
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NR11729 425861 51 54.0 71.0 17.0 0.8 0.5 17 INFILL
425862 81 95.0 106.0 11.0 1.0 1.8 17 INFILL
425863 96 115.0 123.0 8.0 0.7 0.4 17 INFILL
425863 106 131.0 132.0 1.0 1.4 0.8 17 INFILL
425864 141 174.0 177.1 3.1 0.7 1.1 HS INFILL
425866 175 219.0 220.0 1.0 1.1 1.1 HS INFILL
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NR11730 425920 537 577.5 579.0 1.5 0.4 14.6 17 EAST INFILL
425921 542 583.5 585.0 1.5 2.8 8.0 17 EAST INFILL
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NR11731 424273 61 65.0 87.5 22.5 3.9 9.8 WESTERN EXPLORATION
AREA
INCL 424270 55 68.0 69.5 1.5 32.0 9.1 WESTERN EXPLORATION
AREA
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To view the first figure associated with this release, please visit the following link: http://media3.marketwire.com/docs/rr0706fig1.pdf.
To view the second figure associated with this release, please visit the following link: http://media3.marketwire.com/docs/rr0706fig2.pdf.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
Contacts:
Rainy River Resources Ltd.
Indi Gopinathan
Director, Investor Relations
(416) 645-7289
igopinathan@rainyriverresources.com