Rainy River Announces Successful Down-Dip Drilling Study
November 30 2010 - 7:00AM
Marketwired Canada
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.
Highlights
-- Three holes, drilled down-plunge in the ODM Zone show excellent
potential for in-pit grade continuity
-- Results expected to increase average grades and bolster economic
potential within existing pit shell
-- NR10-575 returns 1.51 g/t gold over 101.6 metres from 306.8 metres to
408.4 metres
-- NR10-582 intersects 1.72 g/t gold over 146.5 metres from 106.2 metres to
252.6 metres
-- NR10-587 intersects 2.18 g/t gold over 298.1 metres from 58.9 metres to
357.0 metres
-- New high grade intervals identified, including 227.4 g/t gold over 1.5
metres in NR10-587
To view the images accompanying this press release, please click on the
following link: http://media3.marketwire.com/docs/rr1130.pdf
ODM Zone infill program
Over the past several months the Company has undertaken an extensive infill
drilling program designed to improve deposit continuity and demonstrate the
potential to increase overall grade confidence. Spatial grade continuity is an
important consideration when assigning a mineral resource classification. The
majority of the diamond drilling at the Rainy River Gold Project is oriented
towards the north to intersect the true width of the deposit. Hole spacings from
surface to -300 metres below surface in the ODM Zone average 30-50 metres.
Three diamond drill holes were put into the ODM Zone in order to further
investigate grade continuity and to provide new information for the NI 43-101
resource update. These holes were equally spaced 25 metres apart and were
collared into the ODM Zone along a common west-to-east oriented section line and
allowed to run unaided down the dip and across the plunge of the ODM
mineralization. Each hole was drilled to a depth of approximately 600 metres
below surface. This portion of the ODM Zone is well defined from historical
drilling programs and served as an excellent test area to perform this study.
Assay results are presented in Table 1.
Table 1: Length weighted drill hole composites calculated using a 0.4 g/t
gold assay cutoff for open pit resources. Core length does not
indicate true width of intersection.
---------------------------------------------------------------------------
Core Length Vertical
HOLE-ID From (m) To (m) (m) Au (g/t) Depth (m)
---------------------------------------------------------------------------
NR10-575 91.1 92.5 1.4 0.65 71
---------------------------------------------------------------------------
169.9 288.0 118.2 0.94 170
---------------------------------------------------------------------------
306.8 408.4 101.6 1.51 261
---------------------------------------------------------------------------
432.1 453.6 21.5 2.06 320
---------------------------------------------------------------------------
LENGTH WEIGHTED AVERAGE GRADE 1.28
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Core Length Vertical
HOLE-ID From (m) To (m) (m) Au (g/t) Depth (m)
---------------------------------------------------------------------------
NR10-582 106.2 252.6 146.5 1.72 138
---------------------------------------------------------------------------
258.6 297.9 39.3 2.12 212
---------------------------------------------------------------------------
313.3 322.6 9.4 1.04 242
---------------------------------------------------------------------------
349.8 360.9 11.1 0.37 269
---------------------------------------------------------------------------
439.6 452.3 12.6 0.45 334
---------------------------------------------------------------------------
LENGTH WEIGHTED AVERAGE GRADE 1.62
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Core Length Vertical
HOLE-ID From (m) To (m) (m) Au (g/t) Depth (m)
---------------------------------------------------------------------------
NR10-587 58.9 357.0 298.1 2.18 162
---------------------------------------------------------------------------
407.6 425.9 18.3 1.04 321
---------------------------------------------------------------------------
434.5 469.6 35.1 1.67 348
---------------------------------------------------------------------------
481.9 500.0 18.2 3.66 377
---------------------------------------------------------------------------
LENGTH WEIGHTED AVERAGE GRADE 2.15
---------------------------------------------------------------------------
Additional High Grade Gold Intersected
The drill hole study was also successful in demonstrating the down-dip
continuity of the high grade mineralization greater than 3.0 g/t gold. Drill
holes NR10-575, NR10-582 and NR10-587 intersected several areas of new, high
grade gold mineralization within the ODM Zone. Due to the orientation of the
drill holes relative to the orientation of the ODM Zone, the true widths of
these intersections are unknown. High-grade intercepts from these drill holes
are presented in Table 2.
Table 2: High-grade gold intersections from drill holes NR10-575, NR10-582
and NR10-587. Core length does not indicate true width of
intersection.
---------------------------------------------------------------------------
Core Length Vertical
HOLE-ID From (m) To (m) (m) Au (g/t) Depth (m)
---------------------------------------------------------------------------
NR10-582 149.0 150.5 1.5 42.50 117
---------------------------------------------------------------------------
192.5 194.0 1.5 25.85 149
---------------------------------------------------------------------------
245.0 246.5 1.5 17.96 189
---------------------------------------------------------------------------
285.5 287.0 1.5 37.39 219
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NR10-575 318.5 320.0 1.5 9.11 235
---------------------------------------------------------------------------
321.5 323.0 1.5 6.23 240
---------------------------------------------------------------------------
405.5 407.0 1.5 13.81 295
---------------------------------------------------------------------------
435.5 437.0 1.5 17.72 316
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NR10-587 60.5 62.0 1.5 14.41 50
---------------------------------------------------------------------------
156.5 158.0 1.5 8.82 124
---------------------------------------------------------------------------
165.0 165.5 0.5 227.36 130
---------------------------------------------------------------------------
189.5 191.0 1.5 15.35 149
---------------------------------------------------------------------------
197.0 198.5 1.5 14.80 156
---------------------------------------------------------------------------
236.0 237.5 1.5 24.18 185
---------------------------------------------------------------------------
239.0 240.5 1.5 33.72 187
---------------------------------------------------------------------------
333.5 336.5 3.0 16.16 259
---------------------------------------------------------------------------
Including 335.0 336.5 1.5 20.09 259
---------------------------------------------------------------------------
461.0 462.5 1.5 19.61 325
---------------------------------------------------------------------------
489.5 491.0 1.5 9.46 376
---------------------------------------------------------------------------
495.5 497.0 1.5 23.72 381
---------------------------------------------------------------------------
Commentary
"This phase of the infill program was very successful in showing improved grade
continuity within the ODM zone and discovered high grade gold in areas that we
had never directly tested," commented Raymond Threlkeld, President and CEO. "Our
knowledge of the deposit controls has increased dramatically over the last year.
Approximately 71,000 metres of drilling conducted in 2010 will be reflected in
the new NI 43-101 resource update which will be filed in the first quarter of
2011."
Methodology for Compositing Down-Dip Drill Holes
Drill hole assay intervals were length composited based upon a 0.4 g/t gold
assay cutoff. Composites were calculated within a 0.4 g/t gold grade shell with
GEMS mining software. Waste carrying was applied to assays that graded less than
cutoff but were still within a continuous portion of the zone based on gold
grade. Drill hole sections illustrating the grade shell, composite locations and
supporting raw assays are available for viewing on the Company's website
http://www.rainyriverresources.com.
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 $70 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.
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