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
----------------------------------------------------------------------------
VERTI-
CAL CORE
DEP- LEN-
HOLE- TH FROM TO GTH AU AG
ID SECTION (M) (M) (M) (M) (G/T) (G/T) ZONE COMMENTS
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
NR11690 425716 54.0 69.5 72.7 3.2 1.0 11.1 DISTRICT EXPLORATION
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
NR11693 425787 176 240.5 242.0 1.5 34.2 2.7 NORTHERN EXPLORATION
----------------------------------------------------------------------------
NR11694 425461 59 75.0 76.5 1.5 5.3 1.8 NORTHERN EXPLORATION
----------------------------------------------------------------------------
NR11696 425934 32 40.0 43.0 3.0 1.1 1.2 NORTHERN EXPLORATION
----------------------------------------------------------------------------
NR11699 424051 162 204.5 209.0 4.5 1.8 25.5 WESTERN EXPLORATION
AREA
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
NR11706 425858 533 610.1 612.0 1.9 2.5 31.6 17 EAST INFILL
----------------------------------------------------------------------------
NR11707 425160 165 192.5 194.0 1.5 2.0 0.4 DISTRICT EXPLORATION
----------------------------------------------------------------------------
NR11708 424084 134 167.0 176.0 9.0 0.7 0.4 WESTERN EXPLORATION
AREA
----------------------------------------------------------------------------
NR11709 426130 431 478.5 480.0 1.5 0.7 13.1 17 EAST INFILL
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
NR11714 424134 182 233.0 234.5 1.5 0.4 14.1 WESTERN EXPLORATION
AREA
----------------------------------------------------------------------------
NR11715 425966 579 633.5 636.5 3.0 0.5 32.6 17 EAST INFILL
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
NR11717 426021 411 456.0 460.5 4.5 0.4 25.7 17 EAST INFILL
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
NR11720 425099 64 81.4 83.0 1.6 0.5 1.1 DISTRICT EXPLORATION
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
NR11725 424042 95 119.5 121.0 1.5 0.7 11.3 WESTERN EXPLORATION
AREA
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
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
Recharge Resources (TSXV:RR)
Historical Stock Chart
From Apr 2024 to May 2024
Recharge Resources (TSXV:RR)
Historical Stock Chart
From May 2023 to May 2024
