Mr. Raymond Threlkeld reports
RAINY RIVER RESOURCES INTERSECTS SIGNIFICANT NEAR-SURFACE GOLD MINERALIZATION AT INTREPID GOLD-SILVER ZONE, AND EXTENDS INTREPID 60 METRES EAST
Rainy River Resources Ltd. has released further assay results
from the Rainy River gold project (RRGP) in Northwestern Ontario.
Highlights
Drill hole NR121440 intersected 1.1 grams per tonne 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 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 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 toward the east and at shallow depths.
The 2012 diamond drill program will conclude in the first two weeks of
December.
Raymond Threlkeld, president and chief executive officer of Rainy River Resources, 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, PGeo, vice-president exploration, a
qualified person as defined by National Instrument 43-101. Mr.
Sparkes is also the person responsible for the content of this
news release. The company has a rigorous quality assurance/quality control 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. Overlimit samples were reassayed
with a gravimetric finish. Samples with visible gold were
automatically analyzed for ore grade by 1,000-gram 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.
Vertical
Hole ID Section depth* From To Length Au Ag Zone
(m) (m) (m) (m) (g/t) (g/t)
NR121400 427205 169 222.0 223.5 1.5 1.4 10.9 Intrepid
NR121401 427204 77 52.50 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
Including 427405 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
Including 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
Including 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
Including 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
Including 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
Including 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
midpoint of the down-hole intersection.
We seek Safe Harbor.
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