Rainy River Announces Significant Infill Drilling Results
TORONTO, ONTARIO -- (Marketwire) -- 12/06/10 -- Rainy River Resources Ltd. ('Rainy River' or the 'Company') (TSX VENTURE: RR) is pleased to announce drill results from the Rainy River Gold Project in Northwestern Ontario.
To view the maps associated with this press release, please click on the following link:
http://media3.marketwire.com/docs/rr125.pdf
Highlights
-- ODM Zone infill drilling intersects additional high-grade gold
mineralization
-- NR10-597 returns 7.1 g/t gold over 22.5 metres, including 159.3 g/t gold
over 0.5 metres
-- NR10-596 returns 6.4 g/t gold over 27.0 metres, including 82.8 g/t gold
over 1.5 metres
-- NR10-584 returns 5.2 g/t gold over 30.0 metres, including 80.4 g/t gold
over 1.5 metres
-- New shallow mineralization discovered in Cap Zone with 7.0 g/t gold over
3.0 metres in NR10-581
Results from all holes are summarized in Table 1: Summary of Results, at the end of this release.
ODM Zone Drilling
The latest infill drilling in the ODM Zone returned several thick intervals of gold mineralization at shallow depths, including new areas of high-grade gold mineralization over narrow widths. These intersections occur at vertical depths ranging from 241 to 296 metres, and include drill hole NR10-585 with 37.6 g/t gold over 3.0 metres, including 61.4 g/t gold over 1.5 metres, and drill hole NR10-594 with a thick intersection of 2.8 g/t gold reported over 24.0 metres, including 29.4 g/t gold over 1.5 metres. Drill hole NR10-585 also intersected 2.0 g/t gold over 37.5 metres at a vertical depth of 273 metres below surface. All of these results are expected to increase average grades within the conceptual open pit.
The Company also received encouraging assay results from infill drilling deeper within the ODM Zone, with a number of holes intersecting thick widths of gold mineralization, bolstering the potential for bulk underground mining. This includes drill hole NR10-597, intersecting 7.1 g/t gold over 22.5 metres, including 159.3 g/t gold over 0.5 metres at a vertical depth of 539 metres from surface. Drill hole NR10-596 similarly intersected high grades and good widths, returning 6.4 g/t gold over 27 metres, including 82.8 g/t over 1.5 metres. Strong bulk-mining potential was further demonstrated by drill hole NR10-584 with 5.2 g/t gold reported over a width of 30.0 metres, including 80.4 g/t gold over 1.5 metres, at a vertical depth of 434 metres.
Other notable assay results from the ODM zone include hole NR10-598 with 10.8 g/t gold over 4.5 metres, including 28.6 g/t gold over 1.5 metres at 383 metres below surface, and drill hole NR10-600, which intersected 3.0 g/t gold over 16.6 metres at 405 metres below surface.
Cap Zone Drilling
Drill hole NR10-581 returned encouraging assays at shallow depths from the Cap Zone, an area lying 300 metres south of the ODM zone with limited exploration done to date, and the potential to add additional resources. Results from drill hole NR10-581 include 7.2 g/t gold over 1.5 metres at a vertical depth of 91 metres, 7.0 g/t gold over 3.0 metres at a vertical depth of 141 metres, and 0.9 g/t gold over 9.0 metres, at a vertical depth of 163 metres.
Commentary
'The infill program has been very successful in demonstrating the operational flexibility that the Rainy River Gold Project will offer,' commented Raymond Threlkeld, President & CEO. 'We continue to see higher grade results from the potential open pit area and are encouraged to see new results from the Cap Zone, an area we believe could quickly add shallow ounces to the current resource base with 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., 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.
About Rainy River
Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With approximately $69 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 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 in Canada. 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: Summary of Results
Vertical Depth From To
Hold-ID Section (m) (m) (m) Length Au g/t Zone
NR10569 425537 384 420.0 421.5 1.5 3.05 ODM
425541 440 486.0 487.5 1.5 3.16 ODM
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NR10581 425449 91 94.5 96.0 1.5 7.21 CAP
425450 141 148.5 151.5 3.0 6.97 CAP
425450 163 169.5 178.5 9.0 0.93 CAP
425468 421 468.0 469.5 1.5 5.55 ODM
425469 431 480.0 481.5 1.5 2.64 ODM
425470 444 493.5 498.0 4.5 1.68 ODM
425476 487 547.5 549.0 1.5 7.77 ODM
-----------------------------------------------------------------
NR10584 425407 399 443.0 444.5 1.5 13.68 ODM
425412 434 470.0 500.0 30.0 5.15 ODM
INCL 425412 434 483.5 485.0 1.5 80.36 ODM
425420 478 536.0 537.5 1.5 4.06 ODM
-----------------------------------------------------------------
NR10585 425407 241 265.5 268.5 3.0 37.61 ODM
INCL 425407 241 265.5 267.0 1.5 61.42 ODM
AND 425408 242 267.0 268.5 1.5 13.80 ODM
425410 273 283.5 321.0 37.5 2.02 ODM
INCL 425409 266 294.0 295.5 1.5 5.23 ODM
AND 425411 287 316.2 318.0 1.8 16.71 ODM
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NR10588 425686 301 326.5 340.0 13.5 1.19 17
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NR10590 425391 473 542.0 555.5 13.5 1.96 ODM
INCL 425392 477 554.0 555.5 1.5 7.55 ODM
425394 489 561.5 578.0 16.5 0.87 ODM
-----------------------------------------------------------------
NR10591 425374 433 466.5 486.0 19.5 1.13 ODM
425377 454 493.5 507.0 13.5 0.94 ODM
425379 471 513.0 526.5 13.5 0.71 ODM
425380 484 534.0 535.5 1.5 3.46 ODM
-----------------------------------------------------------------
NR10592 425484 326 358.5 366.0 7.5 2.90 ODM
INCL 425483 323 358.5 360.0 1.5 8.73 ODM
425485 347 385.3 387.0 1.7 3.30 ODM
-----------------------------------------------------------------
NR10593 425611 267 302.5 305.5 3.0 1.53 ODM HW
425618 318 353.0 373.0 20.0 0.77 ODM
425625 375 418.0 439.0 21.0 0.93 ODM
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NR10594 425589 233 264.5 266.0 1.5 3.03 ODM
425590 242 275.0 276.5 1.5 3.85 ODM
425592 256 287.0 297.5 10.5 1.49 ODM
425597 296 326.0 350.0 24.0 2.80 ODM
INCL 425597 295 336.5 338.0 1.5 29.37 ODM
-----------------------------------------------------------------
NR10596 425402 334 362.0 363.5 1.5 3.60 ODM HW
425405 392 426.5 429.5 3.0 7.32 ODM
INCL 425405 392 428.0 429.5 1.5 11.78 ODM
425407 421 449.0 476.0 27.0 6.37 ODM
INCL 425407 421 461.0 462.5 1.5 82.75 ODM
-----------------------------------------------------------------
NR10597 425347 537 624.5 647.0 22.5 7.10 ODM
INCL 425346 531 626.0 627.0 1.0 10.31 ODM
AND 425347 537 633.5 635.0 1.5 9.49 ODM
AND 425347 539 637.0 637.5 0.5 159.29 ODM
AND 425348 544 642.5 644.0 1.5 6.80 ODM
-----------------------------------------------------------------
NR10598 425549 331 363.5 372.5 9.0 1.26 ODM
425555 372 413.0 420.5 7.5 2.10 ODM
INCL 425555 372 416.0 417.5 1.5 6.39 ODM
425557 384 429.5 434.0 4.5 10.79 ODM
INCL 425557 383 429.5 431.0 1.5 28.59 ODM
425558 395 444.5 446.0 1.5 3.18 ODM
425562 420 474.5 476.0 1.5 4.63 HS
-----------------------------------------------------------------
NR10600 425489 324 357.5 359.0 1.5 3.29 ODM
425491 340 375.5 377.0 1.5 5.24 ODM
425500 405 443.0 459.6 16.6 3.04 ODM
INCL 425499 399 443.0 444.5 1.5 7.96 ODM
AND 425500 403 447.5 449.0 1.5 8.79 ODM
AND 425500 408 453.5 455.0 1.5 6.41 ODM
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Neither 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 or accuracy of this release.
Contacts:
Rainy River Resources Ltd.
Liz Caridi
Director of Investor Relations and Corporate Governance
(604) 639-4497
lcaridi@rainyriverresources.com
www.rainyriverresources.com