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 and a significant
expansion to its 2011 diamond drilling program.
Highlights
-- 17 East Extension returns 4.6 g/t gold over 13.5 metres and 5.0 g/t gold
over 4.5 metres, with blue-sky potential at depth
-- Beaver Pond intersects 11.8 g/t gold over 9.0 metres, including 67.2 g/t
gold over 1.5 metres, 50 metres up- plunge of NR09-446 which returned
352.8 g/t gold over 6.0 metres
-- Western Area intersects 7.1 g/t gold and 23.0 g/t silver over 9.0
metres, 800 m northwest of Beaver Pond Zone
-- Gap Zone returns 24.1 g/t gold and 74.0 g/t silver over 1.5 metres, and
91.8 g/t gold over 1.5 metres inside conceptual pit shell and near
surface
-- Company mobilizing 4 additional drill rigs (3 NQ core size and 1 HQ wide
diameter core), and expands 2011 exploration program to 170,000 metres
17 East Extension
Deep exploration of the 17 Zone indicates that the zone is
present at a vertical depth of 700 metres. Current results include
4.6 g/t gold over 13.5 m, including 29.5 g/t gold over 1.5 m in
drill hole NR11-653. This hole is the deepest intersection to date
within the 17 East Extension and is located 300 metres down plunge
of the nearest hole (PE1001 which returned 3.0 g/t Au over 6.0
metres, see press release dated February 28, 2011). The
mineralization intersected by this hole lies within the same plane
as the mineralization of the ODM-17 Zone and is located
approximately 250 metres along strike to the east. Hole NR11-653 is
also open to the east and down plunge.
Two other holes were also drilled in the 17 East Extension, with
NR11-645 returning 5.0 g/t gold over 4.5 m and NR11-636 returning
1.2 g/t gold and 15.1 g/t silver over 18.0 m. NR11-636 is located
within the core of the 17 East Extension, while NR11-645 is located
on the eastern edge of the zone and is open down-plunge.
Western Area
The Western Area is a new exploration target located
approximately 800 metres northwest of the Beaver Pond ("BP") Zone,
lying within a large magnetic low trend that hosts the Rainy River
Gold Deposit and stretches over 10 km to the west of the Rainy
River deposit. Results from three diamond drill holes are reported,
with the most significant being NR11-648 which intersected 7.1 g/t
gold and 23.0 g/t silver over 9.0 m, including 37.3 g/t gold and
132.0 g/t Ag over 1.5 m, at a depth of 120 metres below surface.
Exploration in the Western Area is very early stage, and the
presence of narrow intervals of high-grade gold and electrum in
core clearly establishes a link with the Beaver Pond or 433-Zone
geology. Exploration in this area will continue throughout 2011 to
better define continuous trends.
Beaver Pond Zone - GAP Zone
GAP
Exploration within the GAP Zone has returned encouraging results
near surface. Drill hole NR11-654 intersected 21.0 m grading 1.0
g/t gold 40 metres below surface, at the bedrock contact, with a
deeper intercept of 3.2 g/t gold over 4.5 m in the HS zone. Deeper
in the GAP Zone at 200 metres below surface, several narrow
high-grade intercepts were intersected including drill hole
NR11-639 with 91.8 g/t gold over 1.5 m, NR11-650 with 24.1 g/t gold
and 74.0 g/t silver over 1.5 m, and a deeper intercept within the
HS Zone of 22.2 g/t Au and 123.0 g/t silver, over 1.2 m. All of
these intervals represent significant intersections that will
impact the current resource estimate. Lower-grade mineralization
over wider intervals was also encountered, with 0.7 g/t gold over
18.0 m in NR11-657 and 0.7 g/t gold over 21.0 m in NR11-639.
Beaver Pond
NR11-655 intersected 11.8 g/t Au over 9.0 metres, including 67.2
g/t Au over 1.5 metres. This intersection is located entirely
within the Beaver Pond Zone and is of significance as it lies 50
metres up-plunge of NR09-446, which returned 352.8 g/t Au over 6.0
metres (see press release dated January 18, 2010).
Commentary
"Over the last year the Company has enjoyed significant
discovery success with the infill drill program and more recently,
with the step-out regional exploration drill program to the west
and in the deep 17 East Extension Zone," commented Raymond
Threlkeld, President and CEO. "Consequently, we have decided to
intensify our exploration program by adding 4 drill rigs in the
coming weeks, which will increase our total number of rigs to 10.
The current plan is to conduct approximately 170,000 metres of
drilling in 2011. The revised exploration program will dedicate 60%
of the drilling towards regional exploration, 20% to define
potential underground resources and 20% for further infill. We are
continuing with pit optimization and drilling to convert Inferred
resources into Indicated mineralization, to define a potential pit
bottom and ultimately focus infill drilling on expanding the
underground potential at depth. We are currently preparing a
scoping study based on our current resource estimate which includes
defining an optimized pit shell. As a result of the potential for
an open pit to extend below the planned Advanced Exploration
development ramp access, we will be re-evaluating the program. In
the meantime, we are continuing with the permitting process, which
is in its final stages of completion according to plan. We plan to
defer the decision to proceed with the advanced exploration ramp
until we have concluded this study."
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. implement 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 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
---------------------------------------------------------------------------
Vertical From To LEN- Au Ag
HOLE-ID Section Depth (m) (m) (m) GTH g/t g/t Zone
---------------------------------------------------------------------------
NR11636 426290 517 630.0 648.0 18.0 1.2 15.1 17 EAST
EXTENSION
426293 533 658.5 660.0 1.5 2.9 17 EAST
EXTENSION
---------------------------------------------------------------------------
NR11637 424177 43 63.5 65.0 1.5 1.0 WESTERN AREA
424177 74 105.5 107.0 1.5 1.4 WESTERN AREA
424183 184 261.5 263.0 1.5 1.4 WESTERN AREA
---------------------------------------------------------------------------
NR11639 425094 228 276.0 277.5 1.5 91.8 THE GAP
425095 253 297.0 318.0 21.0 0.7 THE GAP
---------------------------------------------------------------------------
NR11640 425373 74 69.5 111.5 42.0 0.8 ODM
425375 181 228.5 230.0 1.5 1.5 HS
---------------------------------------------------------------------------
NR11641 425193 230 290.0 291.5 1.5 3.2 THE GAP
425199 376 483.5 485.0 1.5 1.1 HS
---------------------------------------------------------------------------
NR11642 425068 168 201.0 202.5 1.5 1.2 THE GAP
---------------------------------------------------------------------------
NR11643 425128 179 220.5 222.0 1.5 1.2 THE GAP
425125 236 292.5 297.0 4.5 2.3 THE GAP
425123 315 396.0 400.5 4.5 0.8 HS
425123 334 423.0 424.5 1.5 1.1 HS
---------------------------------------------------------------------------
NR11644 425174 288 362.0 365.0 3.0 2.3 HS
425175 298 377.0 378.5 1.5 5.7 HS
---------------------------------------------------------------------------
NR11645 426333 575 723.0 724.5 1.5 1.9 17 EAST
EXTENSION
426342 606 763.5 768.0 4.5 5.0 17 EAST
EXTENSION
---------------------------------------------------------------------------
NR11646 425105 87 106.6 108.0 1.4 3.8 THE GAP
425100 322 423.0 424.5 1.5 1.9 HS
---------------------------------------------------------------------------
NR11647 425325 94 113.0 114.5 1.5 1.7 ODM
425325 268 333.5 335.0 1.5 1.3 HS
---------------------------------------------------------------------------
NR11648 424141 35 47.0 50.0 3.0 1.0 WESTERN AREA
424141 109 138.5 147.5 9.0 7.1 23.0 WESTERN AREA
INCL 424141 106 138.5 140.0 1.5 37.3 132.0 WESTERN AREA
---------------------------------------------------------------------------
NR11649 425090 259 327.0 333.0 6.0 1.1 HS
425092 307 393.0 394.5 1.5 2.5 HS
425092 313 402.0 403.5 1.5 2.5 HS
---------------------------------------------------------------------------
NR11650 425046 208 257.0 258.5 1.5 24.1 74.0 THE GAP
425052 326 408.5 410.0 1.5 1.8 21.7 HS
425053 349 438.0 439.2 1.2 22.2 123.0 HS
425055 373 470.0 471.5 1.5 2.2 HS
---------------------------------------------------------------------------
NR11651 425089 109 135.0 136.5 1.5 3.6 THE GAP
425092 186 235.5 237.0 1.5 1.2 HS
425094 229 291.0 295.5 4.5 0.7 HS
425099 320 417.0 418.5 1.5 1.7 HS
425100 339 442.5 444.0 1.5 2.0 HS
---------------------------------------------------------------------------
NR11653 426093 698 780.0 793.5 13.5 4.6 17 EAST
EXTENSION
INCL 426094 708 792.0 793.5 1.5 29.5 17 EAST
EXTENSION
426096 717 802.5 804.0 1.5 1.2 17 EAST
EXTENSION
426097 723 810.0 811.5 1.5 1.4 17 EAST
EXTENSION
426098 729 817.5 819.0 1.5 2.7 17 EAST
EXTENSION
---------------------------------------------------------------------------
NR11654 425103 42 40.5 61.5 21.0 1.0 THE GAP
425098 205 259.5 264.0 4.5 3.2 HS
---------------------------------------------------------------------------
NR11655 424936 98 123.4 125.0 1.6 1.1 BP HW
424936 123 155.0 156.5 1.5 4.3 BP HW
424936 204 254.0 263.0 9.0 11.8 BP
INCL 424936 202 255.5 257.0 1.5 67.2 BP
424937 249 315.5 317.0 1.5 1.1 HS
424938 283 360.5 362.0 1.5 5.0 HS
424945 393 506.0 507.5 1.5 1.6 HS
---------------------------------------------------------------------------
NR11657 425136 138 170.2 172.2 2.0 2.4 THE GAP
425136 155 183.0 201.0 18.0 0.7 THE GAP
---------------------------------------------------------------------------
NR11658 NSA
---------------------------------------------------------------------------
NR11660 424060 25 33.5 35.0 1.5 2.0 WESTERN AREA
424060 28 38.0 39.5 1.5 1.9 WESTERN AREA
424060 50 66.5 68.0 1.5 1.9 WESTERN AREA
424062 107 144.5 146.0 1.5 2.8 WESTERN AREA
424071 214 293.0 294.5 1.5 1.2 WESTERN AREA
424076 260 357.5 359.0 1.5 1.0 WESTERN AREA
---------------------------------------------------------------------------
NR11662 425172 62 73.5 76.5 3.0 1.4 THE GAP
---------------------------------------------------------------------------
To view the maps accompanying this press release please visit
the following link:
http://media3.marketwire.com/docs/RRmap330.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. Liz Caridi Director of
Investor Relations and Corporate Governance (604) 639-4497
lcaridi@rainyriverresources.com
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