Rainy River and Northern Superior Discover Gold at Ti-Pa-Haa-Kaa-Ning ("TPK") Project: 25.9 g/t Au Over 13.5 Metres in TPK-10-00
December 13 2010 - 10:38AM
Marketwired Canada
Rainy River Resources Ltd. ("Rainy River") (TSX VENTURE:RR) and Northern
Superior Resources Inc. ("Northern Superior") (TSX VENTURE:SUP) (together, the
"Companies") are pleased to announce the discovery of significant gold bearing
mineralization intersected during the Companies initial diamond drilling program
on Target 3 of their TPK Joint Venture project, 190 km northeast of Pickle Lake
in Northern Ontario. The diamond drilling is being conducted with the
cooperation of Neskantaga First Nation ("Neskantaga"), which recently passed a
community resolution supporting the agreement between Rainy River and Northern
Superior, and affirming their support for the TPK project.
HIGHLIGHTS
-- Coarse-grained visible gold was noted in drill hole TPK-10-004
-- TPK-10-004 returns 25.9 g/t Au over 13.5 metres from 149.3 - 162.8
metres
-- incl. 46.0 g/t Au over 0.5 metres from 153.0 - 153.5 metres
-- incl. 139.4 g/t Au over 1.7 metres from 156.8 - 158.5 metres
-- incl. 749.0 g/t Au over 0.3 metres from 157.2 - 157.5 metres
-- and 127.0 g/t Au over 0.7 metres from 162.0 - 162.7 metres
-- The high-grade shear zone intersected in TPK-10-004 is open both along
strike and down dip
-- TPK-10-005 intersects 3.8 g/t gold over 1.2 metres from 49.6 metres -
50.8 metres
To view the maps accompanying this press release please click on the following
link: http://media3.marketwire.com/docs/RR1213.pdf
2010 Diamond Drilling Program - Target 3
To date, ten holes totaling 1,945.0 metres have been drilled on Target 3, with
one hole abandoned due to bad ground conditions. Final assays have been received
for seven of the nine completed holes, and assays for the two remaining holes on
Target 3 will be available in the new year. All reported holes have intersected
variably mineralized shears in quartz monzonite, containing disseminated pyrite,
arsenopyrite and / or coarse grained visible gold. Shear thicknesses are
variable, ranging from 0.1 metres - 13.5 metres. Shear orientations and true
thicknesses are not readily apparent, and will be determined by follow up
drilling, however the high-grade shear zone intersected in TPK-10-004 is open
both along strike and down dip.
Target 3 encompasses a 400 metre-long by 200 metre-wide segment of a 5 km long
shear zone that splays west-northwest from the Stull-Wunnummin Fault, a major,
gold-fertile structure that extends into Manitoba. Reverse circulation (RC)
drilling has shown that the glacial till section immediately south of and
glacially down-ice from the shear corridor consistently averages 100 to 1000
gold grains per 10 kg sample whereas till sampled 200 metres to the north
(up-ice) contains negligible gold. The gold grains are accompanied by abundant
arsenopyrite, ranging up to millions of grains per sample, which may contain
significant additional gold. The 1.5 metre bedrock intercepts immediately
beneath the till, in two of the four holes drilled on the southern edge of the
shear corridor, are mylonitized and returned gold assays of 0.3 to 0.4 g/t.
Sheared, arsenopyrite-bearing boulders measuring up to 2 metres in diameter and
grading up to 94.2 g/t gold are scattered along the central axis of the shear
corridor. Significant gold diamond-drill intercepts to date (TPK-10-004) are
associated dominantly with disseminated pyrite-bearing mineralization.
Arsenopyrite-rich mineralization, similar to that observed in most of the
high-grade surface boulders, has not yet been encountered in drill core.
2010 Diamond Drilling Program - Target 2
The diamond drill has already moved to Target 2 to obtain a preliminary test of
this partially lake-covered target prior to winter drilling from the ice. It is
anticipated that two diamond drill holes will be completed prior to
demobilization for the Christmas break on the 18th of December.
Target 2 is the largest of four diamond drill targets identified by RC drilling.
It is defined by a distinct gold grain in-till anomaly that outlines a
dispersion train of at least 3 kilometers trending in a NE-SW direction. The
till anomaly is also associated with anomalous arsenic and zinc, and overlies a
broad shear fractured leucogranite of the "contact stock". The leucogranite
contains both spessartine garnet and fluorite alteration. Prospecting during the
autumn produced 41 mineralized boulders, of which 33 boulders (or 80%) were
found to be anomalous in gold. Five of the boulders yielded assays between 5-10
g/t gold, while one boulder yielded an assay of 42 g/t gold.
Geophysical program initiated
In an effort to aid targeting for the 2011 winter diamond drill program, Abitibi
Geophysics of Val-D'Or, Quebec, has been mobilized to TPK to carry out an 80
line-kilometre Induced Polarization (IP) / Resistivity Geophysical Survey. This
survey will cover diamond drill Targets 1-4, with a 100-metre line spacing.
Line cutting crews have also been mobilized to site, to expand the current grid
in order to facilitate the ground geophysical survey. Neskantaga crews are
assisting in grid re-establishment. IP and line-cutting will break for
Christmas, and resume in the first week of January, 2011.
2011 Winter Diamond Drill Program
Diamond drilling crews are scheduled to re-mobilize to site on January 17th,
2011. Diamond drilling will continue to test targets previously identified by RC
drilling and boulder prospecting (as announced in a joint news release on
September 15, 2010). The projected drilling will also continue to test Target 3
for extensions to the newly discovered gold zone, as well as new targets that
are being developed by RC drilling and the IP geophysical surveys.
Commentary
"We are very excited about the high grade discovery at TPK," commented Raymond
Threlkeld, President & CEO of Rainy River. "The discovery hole is open along
strike and at depth, and is just part of what we view as a very large gold
mineralized system. We will be aggressively exploring the extensions of the
discovery and the larger target areas with our partners, Northern Superior
Resources and Neskantaga First Nation, and are proud that they are involved in
this exciting project."
Dr. Thomas Morris, President and CEO of Northern Superior, stated: "Obviously,
Northern Superior Resources is extremely pleased to see results that just begin
to validate our belief in the presence of significant gold mineralization on the
TPK property, bearing in mind of course that the mineralization being reported
here, at a depth of 149 metres, does not explain the exceptional and extensive
surface distribution of the gold grain-in-till dispersal apron and mineralized
boulders previously reported." Northern Superior is thrilled at the potential
that these results indicate and are so looking forward to the future exploration
on this property with Rainy River and Neskantaga First Nation."
Qualified persons
Rainy River is the operator of the TPK Joint Venture and the current exploration
program is being supervised by Kerry Sparkes, P.Geo. Vice-President Exploration,
a Qualified Person as defined by National Instrument 43-101. Mr. Sparkes is the
person responsible for the content of this news release. Rainy River has
implemented 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
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,
Rainy River is well funded to conduct advanced exploration in preparation for
Scoping and feasibility studies. Rainy River's property is extremely well
located in the southwestern corner of Northern Ontario, near the U.S. border.
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 relative to other mining jurisdictions and according to the
annual Fraser Institute global survey of the mining industry, Ontario has
consistently ranked as one of the top jurisdictions to embrace mineral
development.
About Northern Superior Resources Inc.
Northern Superior Resources Inc. is a junior exploration company focused on
exploring for gold and diamonds in the Superior Province of the Canadian Shield.
Northern Superior currently has three active, high quality gold exploration
projects in Ontario and Quebec - TPK, Thorne Lake and Wachigabau (see Company
web site, www.nsuperior.com). These projects and seven more early stage gold
exploration projects are based on the same type of geoscientic data as TPK (New
Growth (Northwest part of the TPK Property), Rapson Bay, Meston Lake, Lespinay,
Lac Surprise, Hazeur, Chibougamou River and Lemark). Northern Superior is a
reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on
the TSX Venture Exchange under the symbol SUP.
Table 1: Summary of Results
----------------------------------------------------------------------------
Vertical Core
Depth From To Length Au Au
Hole - ID Section (m) (m) (m) (m) g/t oz/t
----------------------------------------------------------------------------
TPK-10-001 TRACE TRACE
----------------------------------------------------------------------------
TPK-10-002 ABANDONED
----------------------------------------------------------------------------
TPK-10-002A TRACE TRACE
----------------------------------------------------------------------------
TPK-10-003 5813409 55 68.0 68.4 0.4 1.76 0.05
5813416 65 80.7 81.1 0.4 0.91 0.03
----------------------------------------------------------------------------
TPK-10-004 5813389 59 61.3 64.0 2.7 0.91 0.03
5813396 77 81.9 82.4 0.5 0.93 0.03
5813397 79 83.9 84.5 0.6 0.79 0.02
5813401 89 94.3 94.6 0.3 0.85 0.02
5813406 103 109.2 109.5 0.3 0.80 0.02
5813407 107 113.4 114.4 1.0 1.15 0.03
5813422 146 149.3 162.8 13.5 25.87 0.75
INCL 5813421 143 152.0 154.0 2.0 12.29 0.36
INCL 5813421 144 153.0 153.5 0.5 46.00 1.34
AND 5813423 148 156.8 158.5 1.7 139.37 4.07
INCL 5813423 147 157.2 157.5 0.3 749.00 21.85
AND 5813425 152 162.0 162.7 0.7 127.00 3.70
5813449 219 233.8 234.3 0.5 2.05 0.06
5813451 222 237.0 237.5 0.5 5.47 0.16
----------------------------------------------------------------------------
TPK-10-005 5813548 35 45.0 45.3 0.3 4.08 0.12
5813544 39 49.6 50.8 1.2 3.82 0.11
5813481 119 153.6 154.0 0.4 0.68 0.02
5813472 130 168.1 168.4 0.3 2.27 0.07
----------------------------------------------------------------------------
TPK-10-006 5813467 8 10.6 11.1 0.5 1.05 0.03
5813483 27 35.6 35.9 0.3 2.00 0.06
----------------------------------------------------------------------------
TPK-10-007 5813508 11 13.8 14.1 0.3 1.53 0.04
----------------------------------------------------------------------------
Forward looking statements: This news release includes certain "forward-looking
information" within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act or 1995 (collectively, "forward looking
statements"). Forward looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", "budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved or other similar expressions and includes the negatives
thereof. All statements other than statements of historical fact included in
this release, including, without limitation, statements regarding potential
mineralization, exploration results, interpretation of results, the timing and
success of exploration activities generally, the timing and results of future
resource estimates, and future plans and objectives of Northern Superior or
Rainy River are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Forward looking statements are based on a number
of material factors and assumptions. Important factors that could cause actual
results to differ materially from Northern Superior's or Rainy River's
expectations include exploration risks, changes in project parameters as plans
continue to be refined, results of future resources estimates, future metal
prices, availability of capital and financing on acceptable terms, general
economic, market or business conditions, uninsured risks, regulatory changes,
defects in title, availability of personnel, materials and equipment on a timely
basis, accidents or equipment breakdowns, delays in receiving government
approvals, unanticipated environmental impacts on operations and costs to remedy
same, and other exploration or other risks detailed herein and from time to time
in the filings made by the Company with securities regulators. Although the
Company has attempted to identify important factors that could cause actual
actions, events or results to differ from those described in forward looking
statements, there may be other factors that cause such actions, events or
results to differ materially from those anticipated. There can be no assurance
that forward looking statements will prove to be accurate and accordingly
readers are cautioned not to place undue reliance on forward looking statements.
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