Rainy River Resources Expands Western Area With 15.9 g/t gold and 41.1 g/t Silver Over 4.5 Metres
TORONTO, ONTARIO -- (Marketwire) -- 07/13/11 -- 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 m of diamond drilling in 2011. Results are summarized in Table 1.
Highlights
-- Western Area expands with drill hole NR11750 intersecting 7.6 g/t gold
and 26.5 g/t silver over 16.5 m, including 15.9 g/t gold and 41.1 g/t
silver over 4.5 m.
-- In addition, zone continuity is improving at 17 East Extension with
NR11735 returning 6.9 g/t gold and 112.3 g/t silver over 7.0 m and
NR11737 returning 29.4 g/t gold and 124 g/t silver over 1.7 m, at a
vertical depth of 554 m.
Western Area
Follow up drilling to hole NR11731, which intersected 3.9 g/t gold and 9.8 g/t silver over 22.5 m (news release dated July 6, 2011) continues to intersect significant gold mineralization. Approximately 50 m down plunge of NR11731, NR11750 intersected 7.6 g/t gold and 26.5 g/t silver over 16.5 m, including 15.9 g/t gold and 41.1 g/t silver over 4.5 m, confirming the presence of southwest plunging high grade shoots that are characteristic of the RRGP. This intersection is located at a vertical depth of 86 m below surface.
These two intersections are open both up and down plunge, and represent the most easterly holes that would intersect the mineralized trend connecting the Western Area to the main RRGP resource, located approximately 800 m to the southeast of the Western Area.
17 East Extension Zone
Deep exploration on the 17 East Extension Zone continues to intersect encouraging gold and silver results while demonstrating improved continuity. This zone lies on the east side of the ODM-17 ore body and at a vertical depth approximately between 500 - 750 m. Drill hole NR11735 intersected a 31.5 m wide interval grading 2.7 g/t gold and 31.1 g/t silver, including 6.9 g/t gold and 112.3 g/t silver over 7.0 m. Within this interval was a 1.0 m wide intersection of mineralization grading 30.1 g/t gold and 688.0 g/t silver.
Also in the 17 East Extension, assays from drill hole NR11737 returned 12.2 g/t gold and 61.7 g/t silver over 4.5 m including 29.4 g/t gold and 124.0 g/t silver over 1.7 m at a vertical depth of 554 m. This intersection is 60 m up dip from NR10621E, which reported 13.9 g/t gold and 353.3 g/t silver over 4.5 m (news release dated May 16, 2011).
Additional assay results from the 17 East Extension include NR11726, which intersected 4.0 g/t gold and 4.0 g/t silver over 3.0 m at a vertical depth of 608 m, and a second intersection at a vertical depth of 628 m grading 2.6 g/t gold and 133.3 g/t silver over 3.0 m. This intersection lies 50 m up dip of previously reported drill hole NR10627E which returned values of 69.7 g/t gold and 17.7 g/t silver over 1.5 m (news releases dated May 16, 2011). At 50 m down dip of NR11676 (2.5 g/t gold and 19.3 g/t silver over 9.0 m, reported on May 16, 2011), drill hole NR11695 intersected 3.0 m grading 3.9 g/t gold and 19.3 g/t silver at a vertical depth of 599 m.
The 17 East Extension continues to expand westwards with NR11705 returning values of 3.7 g/t Au and 7.9 g/t silver over 6.0 m at a vertical depth of 595 m, and NR11691, which is located 50 m down dip of NR11705, returning values of 1.1 g/t gold and 17.8 g/t silver over 19.1 m. These holes lie approximately 70 m to the west of the most recent drilling in the 17 East Extension zone.
The 17 East Extension continues to demonstrate high grade gold and silver mineralized shoots within a broad, continuous, well-mineralized envelope. Drilling will continue to selectively target higher grade shoots within the 17 East Extension over the remainder of the year.
Commentary
Raymond Threlkeld, President and CEO, adds 'Exploration continues on the Western Area and 17 East Extension zones, two exciting new areas which may represent extensions of the main Rainy River gold deposit. Grades and widths are very encouraging, with NR11750's intersection in the Western Area being one of the best on the project to date. We will continue to explore these prospective new areas and complete infill drilling within the main deposit area to prepare for feasibility.'
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 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 $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
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CORE
VERTICAL FROM TO LENGTH AU AG
HOLE-ID SECTION DEPTH (M) (M) (M) (M) (G/T) (G/T) ZONE
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ODM -
KCB103 425389 158 164.0 184.0 20.0 1.2 1.6 Geotechnical
ODM -
INCL 425386 151 164.0 168.0 4.0 2.9 1.4 Geotechnical
ODM -
INCL 425390 163 173.0 184.0 11.0 1.0 2.2 Geotechnical
ODM -
425403 200 208.0 229.0 21.0 1.2 1.6 Geotechnical
ODM -
INCL 425404 203 221.0 222.0 1.0 8.7 4.3 Geotechnical
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NR11691 426025 620 690.5 692.0 1.5 3.6 18.8 17 EAST - Deep
426028 642 708.9 728.0 19.1 1.1 17.8 17 EAST - Deep
426029 650 726.5 728.0 1.5 4.2 5.5 17 EAST - Deep
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NR11695 426116 602 657.0 667.5 10.5 1.7 9.2 17 EAST - Deep
INCL 426115 599 657.0 660.0 3.0 3.9 19.3 17 EAST - Deep
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NR11697 425992 753 826.0 832.0 6.0 1.2 3.1 17 EAST - Deep
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NR11705 426044 595 661.5 667.5 6.0 3.7 7.9 17 EAST - Deep
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NR11726 426236 608 745.5 748.5 3.0 4.0 4.0 17 EAST - Deep
426240 628 772.5 775.5 3.0 2.6 133.3 17 EAST - Deep
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NR11727 424228 102 125.0 129.5 4.5 0.9 5.5 WESTERN AREA
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NR11728 426350 568 750.0 751.5 1.5 3.5 31.2 17 EAST - Deep
426353 586 774.0 777.0 3.0 3.7 2.7 17 EAST - Deep
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NR11733 426268 507 626.0 633.5 7.5 1.4 5.8 433 FW EAST
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NR11735 426299 518 687.0 718.5 31.5 2.7 31.1 17 EAST - Deep
INCL 426300 522 701.0 718.5 17.5 4.1 48.4 17 EAST - Deep
INCL 426299 519 701.0 708.0 7.0 6.9 112.3 17 EAST - Deep
INCL 426299 519 703.0 704.0 1.0 30.1 688.0 17 EAST - Deep
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NR11737 426328 554 690.0 694.5 4.5 12.2 61.7 17 EAST - Deep
INCL 426328 554 691.3 693.0 1.7 29.4 124.0 17 EAST - Deep
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NR11738 425884 423 474.0 475.5 1.5 6.4 6.5 17
425894 513 577.5 582.0 4.5 2.9 2.2 17
425896 526 588.0 603.0 15.0 0.6 1.9 17
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NR11741 424270 231 288.5 295.0 6.5 0.6 1.0 BEAVER POND WEST
424275 271 341.0 345.1 4.1 0.8 0.9 BEAVER POND WEST
424292 361 461.0 462.5 1.5 1.1 7.2 BEAVER POND WEST
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NR11742 425940 381 417.0 418.5 1.5 34.6 47.3 17
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NR11743 NO SIGNIFICANT ASSAY
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NR11744 424512 166 222.5 225.5 3.0 0.9 1.0 BEAVER POND WEST
424530 309 416.0 425.0 9.0 0.5 1.6 BEAVER POND WEST
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NR11750 424256 86 102.5 119.0 16.5 7.6 26.5 WESTERN AREA
INCL 424256 86 108.5 113.0 4.5 15.9 41.1 WESTERN AREA
To view the maps associated with this press release, please visit the following links :
http://media3.marketwire.com/docs/bea.pdf
http://media3.marketwire.com/docs/diarr.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