Rainy River's South Zone Returns 7.83 g/t Gold Over 3.0 Metres
TORONTO, ONTARIO -- (Marketwire) -- 08/26/10 -- 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.
Exploration of the South Zone returned a strong intersection of 2.53 g/t gold over 24.0 metres, including 7.83 g/t gold over 3.0 metres, in drill hole NR10516 at a depth of 360 metres. This intersection lies approximately 100 metres above a hole NR07198 intersection grading 25.6 g/t gold, 184.1 g/t silver and 0.3% copper over 4.0 metres. The South Zone is largely unexplored and represents a highly prospective target approximately 300 metres south of the ODM17 Zone. It is completely open to the east and below 360 metres. At a 3.0 g/t cut-off grade and 4.0 metres minimum width, previous drilling in the South Zone has averaged 7.58 g/t over an average width of 4.4 metres. Detailed results are shown in Table 1, below.
Infill drilling in the upper limits of the 433 Zone has recently begun with encouraging results. Hole NR10523 intersected 1.56 g/t gold over 25.5 metres, including a higher grade intercept of 7.17 g/t gold over a width of 3.0 metres. Additionally, drill hole DR10524 returned an intersection of 18.0 metres grading 1.03 g/t gold at a depth of 169 metres from surface. The drill hole extension program targeting the deeper parts in the 433 zone is now complete with drill hole NR0675E intersecting 43.5 metres grading 1.08 g/t gold, including 1.5 metres grading 8.39 g/t gold.
'Our infill drilling program is off to a good start with early results confirming wide intervals of open pit grade mineralization in the shallow depths of the 433 Zone,' commented Ray Threlkeld, President and CEO. 'A seventh diamond drill rig has been mobilized to accelerate the infill program, designed to tighten up the hole spacing in the ODM and 433 Zones to 50 metres and 40 metres respectively. It is very exciting to see new results out of the South Zone, an area that will be receiving more drilling later this year.'
Qualified persons
Rainy River's exploration program in Richardson Township is being supervised by Stuart Averill, P.Geo. Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101. Garett Macdonald, P.Eng. and Vice President, Operations, 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.
To view the Figures accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/rr826.pdf
About Rainy River
Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With over $60 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
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VERTICAL
DEPTH FROM TO LENGTH AU
HOLE-ID SECTION (M) (M) (M) (M) (G/T) ZONE
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NR0621E 425533 535 617.0 648.5 31.5 0.94 433
INCL 425531 525 617.0 618.5 1.5 5.53 433
AND 425533 548 647.0 648.5 1.5 5.37 433
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NR0650E 425604 432 605.0 630.5 25.5 0.89 433
425615 528 761.0 762.5 1.5 3.24 433 FW
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NR0675E 425564 487 668.0 711.5 43.5 1.08 433
INCL 425564 501 708.5 710.0 1.5 8.39 433
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NR06119E 425461 684 782.8 784.8 2.0 3.68 433
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NR07180E 425594 594 750.5 752.0 1.5 1.77 433
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NR07193E 425584 682 822.5 824.0 1.5 3.50 433
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NR10507 424383 63 71.5 73.0 1.5 1.87 WEST RC
424391 225 272.5 274.0 1.5 1.37 WEST RC
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NR10509 NSA BP RC
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NR10516 425091 360 387.0 411.0 24.0 2.53 SOUTH
INCL 425091 360 393.0 399.0 6.0 5.32 SOUTH
INCL 425091 360 393.0 396.0 3.0 7.83 SOUTH
425108 617 718.4 720.0 1.6 4.20 ODM
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NR10519 NSA BP RC
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NR10520 NSA WEST RC
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NR10521 424789 123 152.0 156.5 4.5 1.28 BP RC
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NR10523 425717 156 171.5 197.0 25.5 1.56 433
INCL 425717 154 180.5 183.5 3.0 7.17 433
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NR10524 425722 108 107.0 108.5 1.5 3.25 433 HW
425723 169 161.0 179.0 18.0 1.03 433
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NR10526 425079 328 355.5 372.0 16.5 0.81 SOUTH
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Contacts:
Rainy River Resources Ltd.
Liz Caridi
Director of Investor Relations and Corporate Governance
(604) 639-4497
lcaridi@rainyriverresources.com
www.rainyriverresources.com