CORRECTION FROM SOURCE: Rainy River Resources Ltd. Intersects 255.0 g/t Gold Over 1.5 Metres in the Western Area and Infill Program Continues to Expand the ODM at Depth
TORONTO, ONTARIO -- (Marketwire) -- 09/12/11 -- A correction from source is being issued in respect to the release sent today, September 12th, 2011 at 6:00 am ET. The links to the maps have been amended. The complete and corrected version follows.
Rainy River Resources Ltd. (TSX VENTURE: RR) (the 'Company' or 'Rainy') is pleased to announce assay results from the Rainy River Gold Project ('RRGP') in northwest Ontario, where the Company is completing 170,000 metres of diamond drilling in 2011. Results are summarized in Table 1.
HIGHLIGHTS
-- Drilling in the Western Area continues to intersect narrow zones of high
grade gold mineralization and wider zones of low grade gold
mineralization at relatively shallow depths: NR11783 intersected 255.0
g/t gold and 11.2 g/t silver over 1.5 metres while NR11772 intersected
1.0 g/t gold over 10.5 metres.
-- Infill program continues to deliver significant results within the ODM,
CAP and 17 Zones; in addition, significant silver values were
encountered.
-- NR11749 intersects 4.6 g/t gold and 14.5 g/t silver over 37.5 metres at
the base of the conceptualized pit and within the ODM.
-- NR11761 intersects 1.0 g/t gold and 5.3 g/t silver over 16.5 metres
within the CAP Zone and NR11736 intersects 4.3 g/t gold and 5.8 g/t
silver over 9.0 metres within the 17 Zone.
EXPLORATION
WESTERN AREA
Drilling in the Western Area continues to intersect narrow zones of high grade gold mineralization and wider zones of low grade gold mineralization. Six additional holes have been completed and all have intersected gold mineralization in two broadly defined southwest plunging shoots. NR11783 intersected 255.0 g/t gold and 11.2 g/t silver over 1.5 metres at a vertical depth of 225 metres and NR11772 intersected 38.6 g/t gold over 1.5 metres at a vertical depth of 181 metres.
Several wider zones of low grade gold mineralization were also drilled: NR11753 intersected 1.1 g/t gold over 9.0 metres, NR11781 intersected 1.1 g/t gold over 4.5 metres, NR11782 intersected 2.8 g/t gold over 4.5 metres, NR11788 intersected 1.1 g/t gold over 7.5 metres, and NR11772 intersected 1.0 g/t gold over 10.5 metres. All of these intersections have vertical depths between 93-225 metres below surface. Drilling in the Western Area is still early stage. Two diamond drill rigs will continue to delineate this prospect for the remainder of the year.
17 ZONE EASTERN EXTENSION
Three diamond drill holes pierced the 17 Zone Eastern Extension at moderate depths. All three holes intersected gold mineralization; with NR11739 returning 7.2 g/t gold and 45.7 g/t silver over 4.5 metres at a vertical depth of 457 metres.
INFILL PROGRAM
Several significant results have been received from the ongoing infill program at the Rainy River Gold Project. All infill holes have been either designed to move inferred mineralization to the indicated category and/or to expand known mineralized zones. The majority of the infill holes were also designed to intersect multiple targets down-hole.
ODM / 17 - Within a Conceptualized Open Pit
Results from four infill holes lying within the pit, and the remaining two geotechnical holes, are reported herein. Both geotechnical holes were drilled partially down the plane of the mineralization and do not reflect true thicknesses. As with the CAP Zone, infill holes within the ODM / 17 were designed to bring inferred mineralization into the indicated category.
Highlights include NR11736 at 4.3 g/t gold and 5.8 g/t silver over 9.0 metres at a vertical depth of 116 metres, and NR11754 with 4.2 g/t gold over 39.0 metres at a vertical depth of 56 metres, including 302.0 g/t gold over 1.0 metre. This wider interval in NR1754 has been capped at 120 g/t gold based upon SRK's capping methodology outlined in the most recent 43-101 compliant resource statement. The capped grade is based upon intersected resource domains. NR11767 intersected 1.2 g/t gold over 58.5 metres at a vertical depth of 122 metres. In addition, NR11749 intersected 37.5 metres of 4.6 g/t gold and 14.5 g/t silver at a vertical depth of 379 metres including 13.1 g/t gold over 9.0 metres at a vertical depth of 368 metres. NR11749 is significant in that it demonstrates good high-grade gold mineralization at depth within a conceptualized pit.
ODM / 17 - Below a Conceptualized Open Pit
Approximately 14 diamond drill holes have targeted areas below the conceptualized pit which have had either no resources assigned, or are inferred blocks that require upgrading to the indicated category. To date, drilling below the conceptualized pit has been highly successful in expanding the known ODM/17 resources. Significant intersections include 4.1 g/t gold over 12.0 metres at a vertical depth of 548 metres in NR11770, 13.0 g/t gold over 3.0 metres in NR11787 at a vertical depth of 515 metres, 2.4 g/t gold over 16.5 metres in NR11771 at a vertical depth of 603 metres, and NR11759, which returned 7.4 g/t gold over 3.0 metres.
CAP
Results from the CAP Zone include both new holes and previously unsampled intervals in historic holes. The historic drill holes resampled comprise a series of holes that had been drilled before the recognition of the CAP Zone. Significant results from the CAP infill program include: 1.0 g/t gold and 5.3 g/t silver over 16.5 metres at a vertical depth of 160 metres in NR11761, 0.7 g/t gold over 22.5 metres at a vertical depth of 47 metres in NR11749, 1.0 g/t gold over 16.5 metres at a vertical depth of 233 metres in NR11787, and 6.1 g/t gold and 36.3 g/t silver over 4.5 metres at a vertical depth of 179 metres in NR11770.
SUMMARY
Currently, 10 drill rigs are on site. Drill progress has slowed with the added deep drilling in the 17 Zone Eastern Extension and the deep ODM drilling. To date, approximately 113,000 metres have been completed out of a 170,000 metre diamond drill program. The Company intends to add one to two additional diamond drill rigs to the property by early October in order to: a) facilitate additional engineering requirements, b) ensure the infill program is completed on schedule and, c) continue the exploration focus on the Western Area, the 17 Zone Eastern Extension, deeper portions of the ODM, and district-wide reconnaissance drilling.
COMMENTARY
Raymond Threlkeld, President and CEO, adds, 'These results show the potential of the Rainy River Gold Project on several levels. The infill program continues to intersect significant gold and silver mineralization. Drilling between ODM and 433 and Cap/South has shown very good results in converting what appears to be waste into significantly mineralized zones that could add to in-pit resources. Deep drilling highlights that the project remains open at depth, while exploration drilling in the recently discovered Western Area and 17 Zone Eastern Extension continues to be very encouraging. The Preliminary Economic Assessment ('PEA') is being completed and is targeted for release by early October. The PEA will not include any drill results subsequent to February 27, 2011. A new resource statement is targeted for release in early 2012 and will include infill and new discovery drilling from February 27 to year end.'
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 has a rigorous QA/QC program in place 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 1000g 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. implements 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 approximately $115 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 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. 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.
To view the maps associated with this press release, please visit the following links:
http://media3.marketwire.com/docs/rr0811plan.pdf.
http://media3.marketwire.com/docs/rr0811area.pdf.
http://media3.marketwire.com/docs/rr0811odmplan.pdf.
http://media3.marketwire.com/docs/rr0811odmlong.pdf.
http://media3.marketwire.com/docs/rr0811cap.pdf.
Table 1 Summary of Results
----------------------------------------------------------------------------
VERTICAL
HOLE-ID SECTION LOCATION DEPTH FROM TO
----------------------------------------------------------------------------
KCBL102 425778 209 141 140.0 146.0
KCBL102 425778 173 177 178.0 182.0
KCBL102 425778 103 247 249.0 253.0
KCBL102 425778 65 285 297.0 298.0
KCBL102 425778 43 307 304.0 319.0
----------------------------------------------------------------------------
KCBL104 425975 266 84 40.0 147.0
INCL 425968 291 59 67.0 69.0
AND 425971 281 69 77.0 80.0
AND 425979 253 97 106.0 112.5
AND 425982 241 109 119.0 123.0
KCBL104 425994 199 151 164.0 168.3
KCBL104 426017 116 234 254.0 255.0
NR06104 425769 113 237 287.0 296.0
NR06104 425771 -17 367 454.0 470.0
----------------------------------------------------------------------------
NR08221 425776 249 101 113.0 120.5
----------------------------------------------------------------------------
NR08223 425661 298 52 45.0 72.5
INCL 425661 306 44 47.0 53.0
----------------------------------------------------------------------------
NR09383 425347 103 247 274.5 282.0
INCL 425347 104 246 274.5 277.5
NR09383 425349 91 259 291.0 294.0
----------------------------------------------------------------------------
NR11723 425822 -221 571 625.5 628.5
----------------------------------------------------------------------------
NR11732 425921 -179 529 600.0 609.0
INCL 425922 -181 531 604.5 609.0
----------------------------------------------------------------------------
NR11734 No
significant
assay
----------------------------------------------------------------------------
NR11736 425850 282 68 76.0 89.0
NR11736 425851 234 116 139.0 148.0
INCL 425851 235 115 140.0 143.0
NR11736 425861 84 266 348.0 352.0
----------------------------------------------------------------------------
NR11739 426247 -107 457 540.5 545.0
INCL 426247 -108 458 542.0 545.0
----------------------------------------------------------------------------
NR11740 425894 -301 651 730.5 732.0
----------------------------------------------------------------------------
NR11745 425936 -51 401 423.0 429.0
----------------------------------------------------------------------------
NR11746 No
significant
assay
----------------------------------------------------------------------------
NR11747 No
significant
assay
----------------------------------------------------------------------------
NR11748 426277 -161 511 670.5 675.0
----------------------------------------------------------------------------
NR11749 425248 303 47 40.5 63.0
INCL 425248 305 45 46.5 52.5
NR11749 425257 -29 379 435.0 472.5
INCL 425256 -18 368 435.0 444.0
NR11749 425259 -54 404 486.0 487.5
----------------------------------------------------------------------------
NR11751 425700 -27 377 384.0 398.8
NR11751 425723 -178 528 550.5 559.5
NR11751 425739 -263 613 646.5 652.5
----------------------------------------------------------------------------
NR11752 No
significant
assay
----------------------------------------------------------------------------
NR11753 424240 250 100 120.5 129.5
NR11753 424293 122 228 291.5 293.0
----------------------------------------------------------------------------
NR11754 425811 294 56 49.0 88.0
INCL 425812 309 41 49.0 52.0
AND 425812 307 43 52.0 53.0
AND 425811 292 58 53.0 88.0
NR11754 425809 154 196 244.0 247.0
NR11754 425814 -32 382 490.0 492.0
----------------------------------------------------------------------------
NR11756 No
significant
assay
----------------------------------------------------------------------------
NR11757 No
significant
assay
----------------------------------------------------------------------------
NR11758 No
significant
assay
----------------------------------------------------------------------------
NR11759 425639 295 55 54.0 57.0
NR11759 425639 255 95 93.0 99.0
NR11759 425670 -176 526 543.0 546.0
INCL 425670 -175 525 543.0 544.5
NR11759 425679 -238 588 607.5 616.5
----------------------------------------------------------------------------
NR11760 No
significant
assay
----------------------------------------------------------------------------
NR11761 425596 190 160 156.0 172.5
NR11761 425650 -210 560 591.0 595.5
NR11761 425659 -253 603 637.5 648.0
----------------------------------------------------------------------------
NR11763D 425264 -223 573 589.5 613.5
INCL 425264 -223 573 598.5 603.5
INCL 425264 -225 575 602.5 603.5
----------------------------------------------------------------------------
NR11764 425557 -44 394 402.0 406.5
NR11764 425589 -277 627 658.5 663.0
----------------------------------------------------------------------------
NR11765 424482 235 115 137.0 140.0
----------------------------------------------------------------------------
NR11766 No
significant
assay
----------------------------------------------------------------------------
NR11767 425542 260 90 110.7 111.7
NR11767 425544 228 122 123.5 182.0
INCL 425543 242 108 123.5 145.0
INCL 425543 236 114 138.0 145.0
And 425545 211 139 167.0 182.0
NR11767 425548 173 177 222.0 224.0
NR11767 425573 -57 407 529.4 533.0
NR11767 425577 -84 434 566.0 570.0
----------------------------------------------------------------------------
NR11768 No
significant
assay
----------------------------------------------------------------------------
NR11770 425460 237 113 108.0 118.5
NR11770 425460 237 113 178.5 183.0
INCL 425459 170 180 181.5 183.0
NR11770 425480 -198 548 574.5 586.5
INCL 425481 -200 550 582.0 583.5
----------------------------------------------------------------------------
NR11771 425483 206 144 145.5 148.5
NR11771 425483 192 158 160.5 162.3
NR11771 425514 -253 603 628.5 645.0
INCL 425515 -259 609 640.5 645.0
NR11771 425534 -406 756 802.5 804.0
----------------------------------------------------------------------------
NR11772 424056 179 171 212.0 222.5
NR11772 424056 169 181 230.0 231.5
----------------------------------------------------------------------------
NR11773 426192 -147 497 635.0 639.6
----------------------------------------------------------------------------
NR11776 No
significant
assay
----------------------------------------------------------------------------
NR11779 No
significant
assay
----------------------------------------------------------------------------
NR11780 No
significant
assay
----------------------------------------------------------------------------
NR11781 423997 257 93 113.0 117.5
----------------------------------------------------------------------------
NR11782 423977 165 185 228.5 233.0
----------------------------------------------------------------------------
NR11783 423926 125 225 284.0 285.5
----------------------------------------------------------------------------
NR11784 No
significant
assay
----------------------------------------------------------------------------
NR11786 No
significant
assay
----------------------------------------------------------------------------
NR11787 425434 117 233 231.0 247.5
NR11787 425457 -165 515 541.5 544.5
INCL 425457 -166 516 543.0 544.5
NR11787 425467 -243 593 630.0 631.5
----------------------------------------------------------------------------
NR11788 424065 142 208 257.0 264.5
----------------------------------------------------------------------------
NR11791 426097 193 157 201.5 203.8
INCL 426097 193 157 203.0 203.8
----------------------------------------------------------------------------
NR11797 No
significant
assay
----------------------------------------------------------------------------
Table 1 Summary of Results
---------------------------------------------------------------------------
Au Ag Grade Cap
HOLE-ID LENGTH (g/t) (g/t) Zone Info
---------------------------------------------------------------------------
KCBL102 6.0 1.3 2.6 17
KCBL102 4.0 1.8 1.5 17
KCBL102 4.0 1.4 0.6 17
KCBL102 1.0 12.9 2.1 17
KCBL102 15.0 1.6 0.9 17
---------------------------------------------------------------------------
KCBL104 107.0 0.9 5.0 17
INCL 2.0 2.4 5.7 17
AND 3.0 3.2 1.8 17
AND 6.5 2.6 7.7 17
AND 4.0 3.4 53.5 17
KCBL104 4.3 2.3 167.3 17
KCBL104 1.0 7.3 6.8 17
NR06104 9.0 1.1 0.3 17
NR06104 16.0 0.6 0.9 HS
---------------------------------------------------------------------------
NR08221 7.5 0.6 0.8 HS
---------------------------------------------------------------------------
NR08223 27.5 1.5 10.6 ODM
INCL 6.0 4.8 13.5 ODM
---------------------------------------------------------------------------
NR09383 7.5 0.8 2.7 Cap
INCL 3.0 1.1 3.3 Cap
NR09383 3.0 1.1 3.6 Cap
---------------------------------------------------------------------------
NR11723 3.0 1.3 7.6 17 Zone
---------------------------------------------------------------------------
NR11732 9.0 2.4 7.3 17 Zone
INCL 4.5 3.3 9.3
---------------------------------------------------------------------------
NR11734
---------------------------------------------------------------------------
NR11736 13.0 1.0 0.4 17 Zone
NR11736 9.0 4.3 5.8 17 Zone
INCL 3.0 10.6 10.3 17 Zone
NR11736 4.0 2.0 2.9 HS Zone
---------------------------------------------------------------------------
NR11739 4.5 7.2 45.7 17 East
INCL 3.0 9.7 66.3 17 East
---------------------------------------------------------------------------
17 Zone
NR11740 1.5 6.8 7.7 - Deep
---------------------------------------------------------------------------
NR11745 6.0 1.2 9.2 17 Zone
---------------------------------------------------------------------------
NR11746
---------------------------------------------------------------------------
NR11747
---------------------------------------------------------------------------
NR11748 4.5 1.6 6.7 17 East
---------------------------------------------------------------------------
NR11749 22.5 0.7 3.2 Cap
INCL 6.0 1.1 4.2 Cap
NR11749 37.5 4.6 14.5 ODM
INCL 9.0 13.1 2.4 ODM
NR11749 1.5 7.4 245.0 ODM
---------------------------------------------------------------------------
17
Hanging
NR11751 14.8 1.5 0.8 Wall
NR11751 9.0 2.5 2.8 17 Zone
NR11751 6.0 1.8 10.2 17 Zone
---------------------------------------------------------------------------
NR11752
---------------------------------------------------------------------------
Western
NR11753 9.0 1.1 3.1 Area
Western
NR11753 1.5 9.9 5.4 Area
---------------------------------------------------------------------------
NR11754 39.0 4.2 2.5 ODM
INCL 3.0 2.0 2.8 ODM
AND 1.0 302.0 16.7 ODM
AND 35.0 1.0 2.1 ODM
NR11754 3.0 4.1 13.0 ODM
NR11754 2.0 2.0 0.4 433
---------------------------------------------------------------------------
NR11756
---------------------------------------------------------------------------
NR11757
---------------------------------------------------------------------------
NR11758
---------------------------------------------------------------------------
NR11759 3.0 1.4 4.7 Cap
NR11759 6.0 1.3 1.1 Cap
NR11759 3.0 7.4 2.8 17 Zone
INCL 1.5 13.8 4.0 17 zone
NR11759 9.0 1.3 5.1 17 Zone
---------------------------------------------------------------------------
NR11760
---------------------------------------------------------------------------
NR11761 16.5 1.0 5.3 Cap
NR11761 4.5 1.5 3.4 17 Zone
NR11761 10.5 1.2 4.1 17 Zone
---------------------------------------------------------------------------
NR11763D 24.0 2.4 1.7 ODM
INCL 5.0 8.1 4.1 ODM
Capped
at 120
INCL 1.0 69.1 10.1 ODM gpt Au
---------------------------------------------------------------------------
ODM
Hanging
NR11764 4.5 1.1 0.6 Wall
NR11764 4.5 3.8 1.7 ODM
---------------------------------------------------------------------------
NR11765 3.0 1.6 2.9 433 West
---------------------------------------------------------------------------
NR11766
---------------------------------------------------------------------------
NR11767 1.0 23.7 7.8 ODM
NR11767 58.5 1.2 2.0 ODM
INCL 21.5 1.5 2.8 ODM
INCL 7.0 2.1 4.2 ODM
And 15.0 1.4 1.4 ODM
NR11767 2.0 4.3 14.2 ODM
NR11767 3.6 2.3 2.0 433
NR11767 4.0 3.4 2.2 433
---------------------------------------------------------------------------
NR11768
---------------------------------------------------------------------------
NR11770 10.5 1.2 4.4 Cap
NR11770 4.5 6.1 36.3 Cap
INCL 1.5 15.8 98.4 Cap
NR11770 12.0 4.1 1.3 ODM
INCL 1.5 21.9 3.8 ODM
---------------------------------------------------------------------------
NR11771 3.0 1.3 7.2 Cap
NR11771 1.8 7.0 35.9 Cap
NR11771 16.5 2.4 3.4 ODM
INCL 4.5 4.7 3.0 ODM
NR11771 1.5 11.4 1.9 HS
---------------------------------------------------------------------------
Western
NR11772 10.5 1.0 0.7 Area
Capped
Western at 30
NR11772 1.5 38.6 1.9 Area gpt Au
---------------------------------------------------------------------------
Capped
at 30
NR11773 4.6 2.0 17.9 17 East gpt Au
---------------------------------------------------------------------------
NR11776
---------------------------------------------------------------------------
NR11779
---------------------------------------------------------------------------
NR11780
---------------------------------------------------------------------------
Western
NR11781 4.5 1.1 1.2 Area
---------------------------------------------------------------------------
Western
NR11782 4.5 2.8 0.5 Area
---------------------------------------------------------------------------
Western
NR11783 1.5 255.0 11.2 Area
---------------------------------------------------------------------------
NR11784
---------------------------------------------------------------------------
NR11786
---------------------------------------------------------------------------
NR11787 16.5 1.0 4.1 Cap
NR11787 3.0 13.0 3.6 ODM
INCL 1.5 23.9 4.1 ODM
NR11787 1.5 45.4 3.9 ODM
---------------------------------------------------------------------------
Western
NR11788 7.5 1.1 2.6 Area
---------------------------------------------------------------------------
NR11791 2.3 8.6 2.4 433 East
INCL 0.8 16.2 3.7 433 East
---------------------------------------------------------------------------
NR11797
---------------------------------------------------------------------------
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
www.rainyriverresources.com