Quantcast
Last updated on April 17, 2014 at 17:30 EDT

Rainy River Resources intersects significant near-surface gold mineralization at Intrepid Gold-Silver Zone, and extends Intrepid 60 metres east

November 13, 2012

RR.TSX

TORONTO, Nov. 13, 2012 /CNW/ – Rainy River Resources Ltd. (“Rainy River”
or the “Company” (RR.TSX)) is pleased to announce further assay results
from the Rainy River Gold Project (“RRGP”) in northwestern Ontario. 
Results are summarized in Table 1.

HIGHLIGHTS

        --  Drill hole NR121440 intersected 1.1 grams per tonne ("g/t")
            gold and 7.3 g/t silver over 49.5 metres, starting at a
            vertical depth of 38 metres below surface and directly at the
            bedrock / overburden contact.
        --  Drill hole NR121439 intersected 1.3 grams per tonne ("g/t")
            gold and 16.7 g/t silver over 37.5 metres, 40 metres down dip
            of NR121440, including 2.1 g/t gold and 29.1 g/t silver over
            12.0 metres.
        --  Drill hole NR121413 intersected 1.3 grams per tonne ("g/t")
            gold and 13.7 g/t silver over 39.0 metres, including 6.5 g/t
            gold and 37.1 g/t silver over 4.5 metres, at a vertical depth
            of 181 metres.
        --  The Intrepid Zone continues to expand eastward, widening as it
            nears surface.

INTREPID – LATEST DRILL HOLE RESULTS

Today’s drill results from the Intrepid Zone demonstrate its potential
to contribute wide zones of near-surface gold mineralization for
exploitation via open pit, in addition to the potential contribution of
higher grade underground material.  As drilling has progressed
eastward, Rainy River’s geological team has observed that a number of
high angle step faults appear to have shifted thicker portions of the
Intrepid Zone toward the surface.

To date, 33 diamond drill holes have intersected the Intrepid Zone over
a 280-metre strike length, and have traced the mineralization down dip
for 350 metres.  The mineralized zone continues to expand toward the
east and is dipping steeply to the south, with a steep southwest plunge
observed for the higher grade core.  Significant mineralization has
been traced to within 38 metres of surface.

Three diamond drill rigs have been allocated to help define this new and
significant discovery. The remainder of the 2012 program will focus on
expanding the mineralized zone towards the east and at shallow depths. 
The 2012 diamond drill program will conclude in the first two weeks of
December.

Maps and Images

Map 1 — Diamond Drill Hole Location Plan Map.
Map 2 — 427190 E Cross Section.
Map 3 — 427410 E Cross Section.
Map 4 — 427460 E Cross Section.
Map 5 — Vertical Longitudinal Section.

COMMENTARY

Raymond Threlkeld, President and CEO of Rainy River Resources Ltd.,
commented: “Our exploration team, led by Kerry Sparkes, is beginning to
unlock some of the further potential of the Rainy River District.  The
new results show a potentially significant expansion of the Intrepid
Zone to the east, while the thickening of the mineralized zone suggests
that it may not only contribute high quality ounces early in the
underground mine life, but perhaps also develop into an open pit. This
new discovery clearly demonstrates the future exploration potential
that we have in the Rainy River District.”

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.  Mr.
Sparkes, P.Geo., is also the person responsible for the content of this
news release. The Company has a rigorous QA/QC program in place 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 1000 g 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 Resources Ltd. is a Canadian precious metals exploration
company whose key asset is the Rainy River Gold Project, a large gold
system centred in Richardson Township (part of Chapple Township). As of
September 30, 2012, the Company had approximately $62 million in cash
and cash equivalents and short-term investments, and remains well
funded for its 2012 plans to 1) commence a feasibility level study on
the RRGP; 2) continue growing the existing resource through
exploration; 3) conduct a condemnation program in areas identified for
potential mine facilities; and 4) continue regional exploration. RRGP
is very well located in northwestern 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
in Canada. 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 and CEO

CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS

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. These statements include the possible
conversion of inferred resources into higher confidence categories of
resources. 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.


                                                      TABLE 1

    HOLE-ID  Section  Vertical   FROM      TO     LENGTH   AU    AG      Zone
                       Depth*  (metres) (metres) (metres) (g/t) (g/t)
                      (metres)

    NR121400  427205     169     222.0    223.5     1.5    1.4  10.9  Intrepid

    NR121401  427204      77      52.5     55.5     3.0    0.7   4.0  Intrepid

    NR121401  427204     287     294.0    301.5     7.5    1.5  18.1  Intrepid

    NR121401  427204     307     319.5    322.5     3.0    1.4   5.8  Intrepid

    NR121410  427404     312     349.5    367.5     18.0   1.1   6.8  Intrepid

       INCL  427405.0    317      363     367.5     4.5    3.0  13.4  Intrepid

    NR121413  427396     191     234.0    273.0     39.0   1.3  13.7  Intrepid

       INCL   427395     181     237.0    241.5     4.5    6.5  37.1  Intrepid

    NR121414  427182     298     347.5    352.0     4.5    2.5   8.0  Intrepid

       INCL   427182     299     349.0    352.0     3.0    3.2   8.2  Intrepid

    NR121423  427293     332     385.5    405.0     19.5   1.7   8.0  Intrepid

       INCL   427294     337     396.0    405.0     9.0    2.5   8.9  Intrepid

    NR121439  427460     114     127.5    165.0     37.5   1.3  16.7  Intrepid

       INCL   427460     107     130.5    142.5     12.0   2.1  29.1  Intrepid

    NR121440  427463      63      45.0     94.5     49.5   1.1   7.3  Intrepid

       INCL   427463      78      91.5     94.5     3.0    5.4  58.5  Intrepid

    NR121440  427463      98     115.5    121.5     6.0    1.0   8.3  Intrepid

*Vertical depth is calculated by determining the vertical depth at the
mid-point of the down-hole intersection.

 

SOURCE Rainy River Resources

Image with caption: “Map 1 — Diamond Drill Hole Location Plan Map. (CNW Group/Rainy River Resources)”. Image available at: http://photos.newswire.ca/images/download/20121113_C7312_PHOTO_EN_20528.jpg

Image with caption: “Map 2 — 427190 E Cross Section. (CNW Group/Rainy River Resources)”. Image available at: http://photos.newswire.ca/images/download/20121113_C7312_PHOTO_EN_20529.jpg

Image with caption: “Map 3 — 427410 E Cross Section. (CNW Group/Rainy River Resources)”. Image available at: http://photos.newswire.ca/images/download/20121113_C7312_PHOTO_EN_20530.jpg

Image with caption: “Map 4 — 427460 E Cross Section. (CNW Group/Rainy River Resources)”. Image available at: http://photos.newswire.ca/images/download/20121113_C7312_PHOTO_EN_20531.jpg

Image with caption: “Map 5 — Vertical Longitudinal Section. (CNW Group/Rainy River Resources)”. Image available at: http://photos.newswire.ca/images/download/20121113_C7312_PHOTO_EN_20532.jpg


Source: PR Newswire