Rainy River Intersects 942.6 g/t (27.5 oz/ton) Gold Over 3.0 Metres in Newly Discovered "Gap" Zone
February 28 2011 - 7:00AM
Marketwired Canada
Rainy River Resources Ltd. (TSX VENTURE:RR) (the "Company" or "Rainy") announces
further assay results from the Rainy River Gold Project ("RRGP") in Northwestern
Ontario. These results comprise the remaining 2010 drill campaign and include
the first round of assays from the 2011 exploration program. None of this data
has been included in the latest NI 43-101 resource estimate (3.42 M oz Measured
& Indicated, 3.17 M oz Inferred, see news release dated February 24, 2011) for
the RRGP. All results are summarized in Table 1, below. Significant intercepts
are discussed below.
To see images associated with this release please go to the following link:
http://media3.marketwire.com/docs/rr228image.pdf.
Highlights
-- 942.6 g/t (27.5 oz/ton) gold and 54.2 g/t (1.5 oz/ton) silver over 3.0 m
in newly discovered Gap Zone between ODM and Beaver Pond Zones
-- 4.7 g/t gold over 7.5 metres in the Gap Zone
-- 2.7 g/t gold over 37.5 m in 17 Zone, including 5.0 g/t gold over 15.0 m
-- 1.4 g/t gold over 33.0 m in South Zone
-- HS Zone potential expands westward - 41.4 g/t gold over 1.5 m
ODM/17 Zone
Drilling within the ODM/17 Zone continues with efforts focused on the gap
between the western ODM and the Beaver Pond Zones (referred to as the Gap Zone).
Drill hole NR10-633 intersected several intervals of high-grade gold
mineralization, with the most significant interval grading 942.5 g/t gold over
3.0 m, including 1,845.0 g/t gold and 99.2 g/t silver over 1.5 m and 40.1 g/t
gold and 9.1 g/t silver over 1.5 m. This intersection lies approximately 150
metres east of a previously-announced high-grade intersection from the Beaver
Pond Zone (352.8 g/t gold over 6.0 m in hole NR09-446, see press release dated
January 18th, 2010) at a similar elevation and represents a new area for
exploration. Each of these intercepts contained notable quantities of visible
gold. A second interval within the GAP Zone, and lying approximately 15 metres
above this high-grade interval in hole NR10-633, assayed 4.7 g/t gold over 7.5
m.
Further downhole in NR10-633 a third high-grade intersection was discovered
within the HS Zone corridor, grading 41.4 g/t gold over 1.5 m. This intersection
lies approximately 400 metres west of the main HS Zone mineralization and opens
up the potential for a western expansion of the HS Zone.
On the east side of the deposit, drill hole NR10-620 intersected a shallow
intercept in the 17 Zone grading 2.7 g/t gold over 37.5 m, including 5.0 g/t
gold over 15.0 m (including 12.0 g/t gold over 1.5 m and 28.9 g/t gold over 1.5
m). This intercept lies approximately 50 metres below the surface. Deeper within
the 17 Zone drill hole PE1003 intersected 48.8 g/t gold over 1.5 m in the
hanging wall at a depth of 200 metres. Also in the ODM/17 Zone, drill hole
NR10-612 intersected a 66.0-metre wide interval grading 1.2 g/t gold, including
7.1 g/t over 1.5 m and 6.3 g/t gold over 1.5 m, at a depth of 400 metres below
the surface.
South Zone & Western Area
Results from the South Zone continue to show encouraging intercepts of gold
mineralization. This area is an important component of the 2011 exploration
program, where the possibility exists to add shallow resources for an open pit
operating scenario both to the south and along strike. Recent assay results
include 1.4 g/t gold over 33.0 m in hole SZ1001, 0.6 g/t gold over 15.0 m in
NR10-612, 0.7 g/t gold over 42.0 m in NR10-619 and 1.1 g/t gold over 9.0 m in
hole NR10-625.
Grass roots exploration in a new area approximately 800 metres northwest of the
Beaver Pond Zone, termed "Western Area", has returned encouraging results
including 1.1 g/t gold over 4.5 m and 0.6 g/t gold over 22.5 m in drill hole
R10-618. Hole CP1002 returned similar values, with 0.5 g/t gold over 7.5 m and
1.1 g/t gold over 4.5 m, near surface.
Commentary
"These initial results from our 2011 drill program are an excellent beginning to
expand our resources from our recently announced NI 43-101 resource estimate,"
commented Raymond Threlkeld, President and CEO. "The area between the Beaver
Pond and ODM Zones is possibly another high-grade structural shoot, similar to
others we've seen throughout the deposit. The discovery of gold-bearing
mineralization over 800 metres along strike in the newly discovered Western Area
to the northwest of Beaver Pond opens up significant untested exploration
potential."
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 over CAN$130 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 pre-feasibility 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. 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. 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
----------------------------------------------------------------------------
Hole-ID Section Elevation From (m) To (m) Length (m) Au g/t Comments
----------------------------------------------------------------------------
CP1001 424127 54 66.5 68.0 1.5 1.1 WESTERN AREA
424124 132 165.5 167.0 1.5 1.7 WESTERN AREA
424123 177 224.0 225.5 1.5 1.1 WESTERN AREA
----------------------------------------------------------------------------
CP1002 424173 58 68.0 75.5 7.5 0.5 WESTERN AREA
424170 145 179.0 183.5 4.5 1.1 WESTERN AREA
----------------------------------------------------------------------------
PE1001 426248 94 115.3 116.0 0.7 2.3 HW 17
426260 491 594.5 600.5 6.0 3.0 EAST 17
----------------------------------------------------------------------------
PE1002 426283 508 618.5 621.5 3.0 2.0 EAST 17
426286 547 666.5 668.0 1.5 1.1 EAST 17
----------------------------------------------------------------------------
PE1003 426251 160 198.5 200.0 1.5 48.8 HW 17
----------------------------------------------------------------------------
SZ1001 425121 409 430.5 463.5 33.0 1.4 SOUTH
425165 694 778.5 780.0 1.5 1.4 ODM DEEPS
425167 701 787.5 789.0 1.5 1.1 ODM DEEPS
----------------------------------------------------------------------------
NR10612 425280 206 213.5 228.5 15.0 0.6 SOUTH
425314 489 512.0 578.0 66.0 1.2 ODM DEEPS
INCL 425312 478 531.5 533.0 1.5 7.1 ODM DEEPS
AND 425316 506 564.5 566.0 1.5 6.3 ODM DEEPS
----------------------------------------------------------------------------
NR10614 426049 68 72.0 81.0 9.0 0.9 17 ZONE
----------------------------------------------------------------------------
NR10615 426126 48 44.0 54.5 10.5 0.8 17 ZONE
----------------------------------------------------------------------------
NR10616 426147 73 85.5 114.0 28.5 0.8 17 ZONE
----------------------------------------------------------------------------
NR10618 424225 58 69.5 74.0 4.5 1.1 WESTERN AREA
424225 102 116.0 138.5 22.5 0.6 WESTERN AREA
----------------------------------------------------------------------------
NR10619 425139 386 393.0 435.0 42.0 0.7 SOUTH
425170 691 762.0 763.5 1.5 3.8 ODM DEEPS
425174 715 790.5 791.5 1.0 16.3 ODM DEEPS
----------------------------------------------------------------------------
NR10620 425243 267 62.0 99.5 37.5 2.7 17 ZONE
INCL 426150 65 71.0 86.0 15.0 5.0 17 ZONE
INCL 426150 59 71.0 72.5 1.5 12.0 17 ZONE
AND 426149 71 84.5 86.0 1.5 28.9 17 ZONE
NR10620 426149 94 111.5 113.0 1.5 1.7 17 ZONE
----------------------------------------------------------------------------
NR10621 NSA
----------------------------------------------------------------------------
NR10622 59 74.0 75.5 1.5 1.1 WESTERN AREA
----------------------------------------------------------------------------
NR10623 425924 64 69.5 74.0 4.5 0.5 HS
425922 200 216.5 243.5 27.0 0.6 HS
----------------------------------------------------------------------------
NR10624 NSA
----------------------------------------------------------------------------
NR10625 425134 346 382.5 391.5 9.0 1.1 SOUTH
----------------------------------------------------------------------------
NR10626 424479 332 417.5 419.0 1.5 2.0 WESTERN AREA
----------------------------------------------------------------------------
NR10627 NSA
----------------------------------------------------------------------------
NR10628 425926 79 93.5 95.0 1.5 1.0 HS
425926 122 146.0 147.5 1.5 1.5 HS
425926 213 257.0 258.5 1.5 4.2 433 EAST
----------------------------------------------------------------------------
NR10629 425046 451 471.0 489.3 18.3 1.0 SOUTH
425081 689 753.0 754.5 1.5 1.2 ODM DEEPS
425085 712 780.0 781.5 1.5 0.4 ODM DEEPS
425087 722 792.0 793.5 1.5 1.8 ODM DEEPS
425087 727 798.0 799.5 1.5 1.3 ODM DEEPS
----------------------------------------------------------------------------
NR10630 425900 50 57.5 63.5 6.0 1.2 HS
425900 68 80.0 84.5 4.5 2.1 HS
----------------------------------------------------------------------------
NR10631 424425 74 93.3 95.0 1.7 1.4 WESTERN AREA
----------------------------------------------------------------------------
NR11632 425948 60 74.0 75.5 1.5 1.2 HS
425944 148 186.5 188.0 1.5 1.5 FW 433
----------------------------------------------------------------------------
NR11633 425033 152 189.0 190.5 1.5 1.4 HW GAP
425031 189 235.5 243.0 7.5 4.7 THE GAP
INCL 425031 190 238.5 240.0 1.5 17.3 THE GAP
425030 205 256.5 259.5 3.0 942.6 THE GAP
INCL 425030 204 256.5 258.0 1.5 1845.0 THE GAP
AND 425030 205 258.0 259.5 1.5 40.1 THE GAP
425026 262 333.0 334.5 1.5 2.5 FW GAP
425020 343 442.5 444.0 1.5 41.4 HS
425018 384 499.3 501.0 1.7 5.2 HS
----------------------------------------------------------------------------
NR11634 425019 61 69.0 70.5 1.5 1.2 HW CAP
425018 87 102.0 103.5 1.5 1.5 HW CAP
----------------------------------------------------------------------------
NR11635 425019 426 522.0 523.5 1.5 1.4 HW ODM GAP
425023 471 580.5 582.0 1.5 1.9 HW ODM GAP
425026 508 604.5 657.0 52.5 1.1 ODM DEEP GAP
INCL 425024 489 604.5 606.0 1.5 10.1 ODM DEEP GAP
----------------------------------------------------------------------------
NR11638 425631 129 158.0 159.5 1.5 1.2 433 WEST
425634 182 218.0 230.0 12.0 0.8 433 FW
----------------------------------------------------------------------------
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