Rainy River Announces Successful Down-Dip Drilling Study
November 30 2010 - 8:00AM
Marketwired
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.
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
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