Rainbow Resources Inc. Announces Ongoing Exploration Work at the Big Strike West Kootenay Area Properties
November 19 2013 - 11:43AM
Access Wire
TORONTO, ONTARIO - (November 19, 2013) Rainbow
Resources Inc. ('Rainbow' or 'the Company') (TSX
VENTURE:RBW)(OTCQX:RIINF) is pleased to report continuing project
work at its Big Strike Project in the West Kootenay Mining District
near Nelson, British Columbia, Canada.
Click Image To View Full Size
Rainbow Resources is focusing on the Gold Viking, Whitewater and
Referendum properties where vein systems were mapped and sampled at
all three sites and 43 samples demonstrating strong mineralization
or alteration have been sent to the lab for analysis. Company
geologists have conducted further geological and structural mapping
which will contribute to upcoming core drilling programs planned
for spring 2014.
Mapping was concentrated on evaluating the extent of Au
bearing quartz vein systems. Underground workings at the Gold
Viking property show dense mineralized quartz veining with open
extent along strike (N30?E) and steeply
dipping East. Past sampling and drilling demonstrate a strong trend
for future targeting of this vein system at large. Mineralization
included galena, sphalerite, chalcopyrite and pyrite.
Showings and adits at the Whitewater site exhibit
continuous banded veins from .5 - 2m exposed on a continuous trend
over 500m. NE striking vein systems with variable steep dips
trending east showed strong mineralization of chalcopyrite, pyrite,
pyrrhotite and molybdenum. Road access and vein exposure will
contribute to successful targeting and exploration development at
this site.
Vein exposures at the Referendum indicate the presence
of an echelon shear filling mineralized zone. Numerous trenches
expose vertical banded quartz veins up to 2m in width and more than
400m extending East to West. Visible gold was present in dark
banded quartz veins.
Future drilling is anticipated at all three sites.
Drill targeting will take into account upcoming analysis and field
observations as well as thorough historical data review.
Mr. Jim Decker, P. Eng., Director of
Rainbow Resources Inc. and a Qualified Person as defined by
National Instrument 43-101, has reviewed the contents of this news
release.
Financing
Update:
Rainbow recently announced the closing of $105,000 of
the first tranche of its planned $500,000 financing and continues
its capital raising efforts and will close another tranche at the
end of November.
About Rainbow
Resources:
Rainbow is a Canadian based junior
exploration company focused on building shareholder value through
aggressive exploration in two favourable and proven mining
jurisdictions - the West Kootenays in southeast British Columbia
(silver, gold and flake graphite), and Nevada where Rainbow's Jewel
Ridge gold-silver project is in the heart of a major producing
district. Rainbow's shares are listed on the TSX Venture Exchange
under the symbol TSX-V:RBW and on the OTCQX International under the
symbol RIINF.
Rainbow currently has 47,820,052 common
shares issued and outstanding.
Contact:
Rainbow Resources Inc.
David W. Johnston
President
(403) 701-2781
info@rainbowresourcesrbw.com
Website: www.RainbowResourcesRBW.com
Latest Video: http://www.rainbowresourcesrbw.com/video/
Follow
Rainbow:
Twitter: https://twitter.com/RainbowResource
Facebook: https://www.facebook.com/RainbowResources
Caution Regarding Forward-Looking
Information
This news release includes certain
information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements about
strategic plans, future work programs and objectives and expected
results from such work programs. Forward-looking information is
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks,(more)uncertainties, and other factors which may cause the
actual results and future events to differ materially from those
expressed or implied by such forward-looking information and the
risks identified in the Company's continuous disclosure record.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking
information.
All forward-looking information
contained in this news release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof. The Company disclaims any intention or obligation
to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by law.
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 of this news release.
(TSXV:RBW)
Historical Stock Chart
From May 2024 to Jun 2024
(TSXV:RBW)
Historical Stock Chart
From Jun 2023 to Jun 2024