Rainy River Resources
NI 43-101 Resources of 3.42M oz. Au Indicated and 3.17M oz. Au Inferred (Feb. 2011)
Message: Final 2009 Drill Results
Your Vote:
Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)
| February 22, 2010 | |
| Rainy River Announces Final 2009 Drill Results | |
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2010) - Rainy River Resources Ltd. (TSX VENTURE:RR) - Highlights - New High Grade Gold Discovered 300 metres West of Beaver Pond Zone - Update: High Silver Tenor in Beaver Pond Area - South and HS Zones Continue to Expand - Resource Estimate on Schedule - 122 Drill Holes Added from 2009 Drilling Program Rainy River Resources Ltd. (the "Company" or "Rainy") announces the receipt of final assays from the 2009 drill program. Longitudinal sections and a drill hole location map with section lines for reference are posted on the Rainy River website www.rainyriverresources.com. Tables 1 and 2, Summary of Results, are to be read in conjunction with the text below. To view maps accompanying this release, please click on the following link: http://media3.marketwire.com/docs/RRmap222.pdf. New-High Grade Gold Mineralization Intersected West of Beaver Pond In a continued effort to explore for new gold mineralization, a total of four drill holes were completed in late 2009 west of the Beaver Pond Zone. The Company is very pleased to report that NR09-413 intersected a new high-grade gold occurrence of 22.2 g/t (0.65 oz/t) gold over 1.5 metres hosted within a wider interval grading 2.10 g/t over 19.5 metres. This newly discovered gold mineralization occurs 300 metres west of the Beaver Pond Zone at a vertical depth of 190 metres below surface and is entirely open down plunge and dip. Two other holes were drilled approx.90 metres along strike to the west and east (NR09-425 and NR09-411, respectively). Anomalous gold was encountered in both holes indicating the system continues to the west. NR09-413 has been incorporated into the upcoming resource update and additional drilling in this new area is currently underway. Beaver Pond Zone Continues to Display Continuity NR09-445 intersected two separate gold intervals in the Beaver Pond Zone grading 1.49 g/t gold over 12.0 metres including 3.71 g/t gold over 3.0 metres and 1.07 g/t gold over 12.0 metres at a vertical depth of 200 metres below surface. These twin intervals correlate very well with those intersected approx.55 metres down plunge in NR09-446 (upper interval highlighted by 6.0 metres grading 352.84 g/t gold, see News Release dated January 18, 2010) and at greater depth in previously announced Holes NR09-329 and 402. Additionally, 5.03 g/t gold over 1.5 metres was intersected in the footwall to the Beaver Pond Zone at a vertical depth of 404 metres and represents a new gold occurrence in this formerly untested area. Three rigs are actively drilling at the Beaver Pond Zone. High Tenor Silver in Beaver Pond Area - Final Assays Received for NR09-446 Final silver assays for the 6.0 metre high-grade gold intersection in previously reported drill hole NR09-446 have been received by the Company. The high grade gold zone in NR09-446 (6.0 metres grading 352.84 g/t gold) contained high silver values grading 114.25 g/t over 6.0 metres. Please see Table 2, Summary of Silver Intercepts, below. Rainy River is currently assessing the potential silver by product value. The area west of the ODM17 Zone appears to have a higher silver content and modeling efforts are underway to determine the values. South Zone Drilling Continues to Extend Gold Mineralization Down Plunge The significant size and continuity of the South Zone continues to be demonstrated with drill hole NR09-442 which intersected a wide interval grading 0.60 g/t gold over a core length of 39.0 metres including 7.5 metres grading 1.47 g/t gold at a vertical depth of 320 metres below surface. NR09-442 is to date the westernmost drill hole in the South Zone and has extended the strike length of the zone to approximately 700 metres. The South Zone remains open not only along strike to the west but also down plunge and down dip. NR09-442 has been incorporated into the pending NI 43-101 resource estimate. Infill Drilling Expands Mineralization Near Surface in ODM17 Zone and Underlying HS Zone Four infill drill holes were completed in the near-surface portion of the of the ODM17 Zone at its eastern end to further confirm the inferred-category gold mineralization from the 2009 NI 43-101 resource estimate completed by SRK Consulting Ltd. The holes successfully confirmed the known inferred gold mineralization, and new mineralization was discovered in the footwall area of the ODM17 Zone as well as in the HS Zone which lies between the ODM17 and 433 Zones. Additional Reverse Circulation Drilling Extends Near-Surface Zones and Defines New Targets Twenty-eight (28) reverse circulation ("RC") holes were drilled to guide our exploration drilling. Drill hole RC209 intersected 1.5 metres of 6.17 g/t gold at the bedrock-glacial till overburden interface, north of the ODM17 Zone. This opens a new area for detailed exploration. Drill hole RC-316, 400 metres west of the Beaver Pond Zone contained one of the strongest gold grain-in-till anomalies on the Rainy River Property. This anomaly may be a down ice reflection of the high grade gold intersected in drill hole NR09-413 (see above). RC drilling is continuing to define and open new exploration targets in the altered caldera rocks that host all of the mineralization discovered to date. Comments "Our exploration and delineation drilling continues to discover new targets both along strike and down plunge from existing zones," commented Raymond Threlkeld, President and CEO. "We are aggressively drilling the new areas with six drill rigs. Engineering, metallurgical and resource studies are currently on schedule and we anticipate a new 43-101 resource report in Q1, 2010." 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$19 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. 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 Significant Intercepts
---------------------------------------------------------------------------
INCLUDED
VERTICAL FROM LENGTH Au IN
HOLE-ID SECTION DEPTH (m)TO (m) (m) (g/t) ZONE EFFECT RESOURCE
---------------------------------------------------------------------------
NR09413 424586 84 105.0 106.5 1.5 1.22 BP NEW YES
424605 191 244.5 264.0 19.5 2.10 WEST NEW YES
INCL 424605 191 244.5 252.0 7.5 4.72 WEST NEW YES
INCL 424604 190 250.5 252.0 1.50 22.2 WEST NEW YES
---------------------------------------------------------------------------
NR09415 426074 78 78.5 93.5 15.0 0.59 ODM17 CONFIRM YES
426073 155 171.5 173.0 1.5 2.23 HS NEW YES
---------------------------------------------------------------------------
NR09416 425005 33 38.0 39.5 1.5 1.93 BP NEW YES
425004 74 83.0 96.5 13.5 0.43 BP ADD YES
425005 120 146.0 147.5 1.5 2.24 HS NEW YES
---------------------------------------------------------------------------
NR09417 425779 509 518.0 519.5 1.50 1.47 17.00 NONE YES
425789 578 582.5 597.5 15.0 1.11 ODM17 CONFIRM YES
425805 665 681.5 683.0 1.50 1.79 17.00 NONE YES
---------------------------------------------------------------------------
NR09419 424861 48 59.0 60.5 1.5 1.15 BP NEW YES
424860 61 75.5 77.0 1.5 6.38 BP NEW YES
424855 145 182.0 188.2 6.2 1.12 HS NEW YES
---------------------------------------------------------------------------
NR09420 426100 63 71.0 89.0 18.0 0.69 ODM17 CONFIRM YES
---------------------------------------------------------------------------
NR09424 NSA BP
---------------------------------------------------------------------------
NR09425 424525 195 265.5 267.0 1.5 1.30 WEST NEW YES
---------------------------------------------------------------------------
NR09426 424387 254 114.0 130.5 16.5 0.40 WEST NEW YES
---------------------------------------------------------------------------
NR09427 NSA WEST NO
---------------------------------------------------------------------------
NR09428 425837 151 165.5 176.0 10.5 0.49 ODM17 ADD YES
425839 193 218.0 220.0 2.0 2.18 HS NEW YES
425840 223 249.5 260.0 10.5 0.83 HS CONFIRM YES
---------------------------------------------------------------------------
NR09433 425078 224 62.0 71.0 9.0 0.46 ODM17 ADD YES
426010 101 113.0 117.5 4.5 0.80 ODM17 ADD YES
426009 231 264.5 267.5 3.0 1.09 HS CONFIRM YES
---------------------------------------------------------------------------
NR09435 424864 84 102.5 107.0 4.5 0.80 HS NEW YES
---------------------------------------------------------------------------
NR09436 424967 64 67.6 89.0 21.4 0.58 BP CONFIRM YES
424971 133 165.5 167.0 1.5 1.42 HS NEW YES
---------------------------------------------------------------------------
NR09442 425072 317 327.0 366.0 39.0 0.60 SOUTH NEW YES
INCL 425072 318 334.5 342.0 7.5 1.47 SOUTH NEW YES
425108 615 672.0 706.5 34.5 0.91 ODM17 NEW YES
INCL 425108 615 696.0 699.0 3.0 3.02 ODM17 NEW YES
---------------------------------------------------------------------------
NR09445 424902 196 210.5 222.5 12.0 1.49 BP NEW YES
INCL 424902 196 216.5 219.5 3.0 3.71 BP NEW YES
424902 214 231.5 243.5 12.0 1.07 BP NEW YES
424914 404 461.0 462.5 1.5 5.03 HS NEW YES
---------------------------------------------------------------------------
Table 2 - Summary of Silver Intercepts - Hole NR09-446
------------------------------------------------------------
HOLE-ID FROM (m) TO (m) LENGTH (m) AU (g/t) AG (g/t)
------------------------------------------------------------
NR09446 255.5 261.5 6.0 352.84 114.25
INCL 255.5 258.5 3.0 701.29 221.00
282.5 287.0 4.5 4.62 57.33
------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release. |
|
2 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply