Rainy River Resources, Ltd.

Published : October 06th, 2009

Announces Results From Ten New Drill Holes

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Keywords :   Diamond | Gold | Market | Precious Metals |

 
 
Rainy River Resources Ltd.
TSX VENTURE: RR
Other Recent News

October 6, 2009
Rainy River Announces Results From Ten New Drill Holes

Adds Fifth Drill Rig to Accelerate Testing of Caldera Exploration Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2009) - Rainy River Resources Ltd. (TSX VENTURE:RR) -

Highlights:

- 3.0 metres grading 36.85 g/t gold and 15.6 metres grading 6.46 g/t gold intersected in ODM17 Zone

- ODM17 Zone extended 100 metres east from previous cutoff

- Fifth Diamond drill added to test exploration targets

- RC drilling planned to develop pipeline of additional gold targets

Rainy River Resources Ltd. is pleased to announce the results of the ten most recently completed Diamond drill holes on its Richardson Township property in the southwest corner of northern Ontario. All of the holes were drilled within the 600 hectare mineralized core of the Richardson caldera A recently completed NI43-101 resource study (SRK, July 2009; available at www.sedar.com) of the known gold zones in this area estimated 2.2 million ounces of indicated gold resources and 1.8 million ounces of inferred resources, mainly in the ODM17 and 433 Zones.

The nine new drill holes were variously designed to: 1) tighten the hole spacing in parts of the ODM17 Zone as required to convert inferred resources to indicated resources; 2) delineate the eastern and western ends of this zone; and 3) explore for new gold zones beyond the known resources. All significant drill results and a location map with section lines for reference are posted on the Rainy River website www.RainyRiverResources.com. The summary tables on pages 3 and 4 of this release are to be read in conjunction with the text, below.

Infill Drilling, ODM17 Zone

Four infill holes were drilled on the ODM17 Zone. These holes generally intersected more than 30 metres grading 1 to 2 g/t gold, typical of the indicated open pit resources. Much higher grade intersections of 3.0 metres at 36.85 g/t and 15.0 metres at 6.46 g/t were obtained from Holes 376 and 382, respectively. Hole 382 also obtained a near-surface intersection of 5.0 metres grading 1.17 g/t from the overlying Cap Zone.

Delimitation Drilling, ODM17 Zone

Five holes were drilled at the eastern and western extremities of the ODM17 Zone to better define its limits. These holes generally intersected marginal mineralization as expected although Holes 378, 381 and 384 extended the zone more than 100 metres eastward, returning 22.5 metres grading 0.83 g/t, 15.0 metres grading 0.82 g/t and 16.5 metres grading 0.76 g/t, respectively, all within the limits of the conceptual open pit, thus potentially increasing the resources within the conceptual pit.

Exploration Drilling

Hole 373 extended the down-plunge mineralization of the recently discovered South Zone, returning 15.7 metres grading 0.70 g/t gold.

New Developments

A fifth Diamond drill rig will be added in mid-October to accelerate testing of newly accessible exploration targets. In addition, a reverse circulation drilling program is planned for November to develop a pipeline of new targets within the 600 ha caldera gold anomaly.

Geological Setting

The core of the Richardson caldera is infused with gold at an average grade close to 0.1 g/t over a 600 hectare (6 km2) area. This gold was introduced by hot circulating fluids related to the explosive volcanism that produced the caldera basin and filled it with permeable sediments. Higher grade mineralization such as the ODM17 and 433 Zones was concentrated below the least permeable sediment layers. The potential for discovering more gold zones both near surface and at depth is very high.

Qualified persons

Rainy River's exploration program in Richardson Township is being supervised by Stuart Averill, P.Geo. Vice-President Exploration and is being managed by Wally Rayner, P.Geo., Project Manager, both Qualified Persons as defined by National Instrument 43-101. The Company's regional exploration manager, C.J. Baker, M.Sc., is managing the Company's Off Lake exploration program 15 km to the northeast. Nelson W. Baker, P.Eng. is the Qualified Person for the project and Raymond Threlkeld and Stuart Averill are the persons responsible for the contents 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. The procedures of the QA/QC program are detailed on Rainy River's website at www.rainyriverresources.com.

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 CAN$18 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.

Stuart A. Averill, Vice-President, Exploration

Table 1 - Summary of Significant Gold Intercepts

Infill Drilling, ODM17 Zone
---------------------------------------------------------------------------
                                Metres                          Zone
--------  ---------   ---------------------------    -------    -----------
                                             Core         Au
Section   Hole No.     From         To   Length(i)  (g/t)(ii)  (where known)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
425,750E  NR09376     434.0      435.5        1.5       1.16    NA
---------------------------------------------------------------------------
                      455.0      467.0       12.0       9.57    ODM17
---------------------------------------------------------------------------
          Including   455.0      458.0        3.0      36.85
---------------------------------------------------------------------------
                      483.5      493.5       10.0       0.58    ODM17
---------------------------------------------------------------------------
                      531.5      537.5        6.0       1.72    ODM17
---------------------------------------------------------------------------
                      563.0      570.5        7.5       2.72    ODM17
---------------------------------------------------------------------------
---------------------------------------------------------------------------
425,700E  NR09380     492.4      507.5       15.1       1.04    ODM17
---------------------------------------------------------------------------
                      539.0      543.5        4.5       0.76    ODM17
---------------------------------------------------------------------------
                      549.5      577.0       27.5       0.68    ODM17
---------------------------------------------------------------------------
                      686.0      689.0        3.0       1.14    NA
---------------------------------------------------------------------------
                      722.0      729.5        7.5       0.65    NA
---------------------------------------------------------------------------
                      761.0      762.5        1.5       1.28    NA
---------------------------------------------------------------------------
---------------------------------------------------------------------------
425,350E  NR09382      86.0       87.5        1.5       1.20    Cap
---------------------------------------------------------------------------
                      101.0      106.0        5.0       1.17    Cap
---------------------------------------------------------------------------
                      122.0      123.5        1.5       1.84    Cap
---------------------------------------------------------------------------
                      434.0      480.5       46.5       2.66    ODM17
---------------------------------------------------------------------------
          Including   446.0      461.0       15.0       6.46
---------------------------------------------------------------------------
          Including   446.0      452.0        6.0       9.57
---------------------------------------------------------------------------
                      486.5      489.5        3.0       1.21    NA
---------------------------------------------------------------------------
                      547.9      549.5        1.6       1.48    NA
---------------------------------------------------------------------------
                      678.5      701.0       22.5       0.81    NA
---------------------------------------------------------------------------
---------------------------------------------------------------------------
425,225E  NR09383     213.5      219.0        5.5       0.88    ODM17
---------------------------------------------------------------------------
                      253.5      255.6        2.1       1.64    ODM17
---------------------------------------------------------------------------
                      519.0      520.5        1.5       1.19    ODM17
---------------------------------------------------------------------------
                      565.5      577.5       12.0       2.62    ODM17
---------------------------------------------------------------------------
                      585.0      587.0        2.0       1.44    ODM17
---------------------------------------------------------------------------
                      589.5      616.5       27.0       1.17    ODM17
---------------------------------------------------------------------------
(i)  approximately equal to true thickness
(ii) uncut


Delimitation Drilling, ODM17 Zone
---------------------------------------------------------------------------
                                Metres                          Zone
--------  ---------   ---------------------------    -------    -----------
                                             Core         Au
Section   Hole No.     From         To   Length(i)  (g/t)(ii)  (where known)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
425,075E  NR09375     308.0      312.5        4.5       0.64    ODM17
---------------------------------------------------------------------------
                      341.0      345.5        4.5       0.52    ODM17
---------------------------------------------------------------------------
                      449.0      453.5        4.5       0.46    NA
---------------------------------------------------------------------------
---------------------------------------------------------------------------
425,075E  NR09377     348.5      349.5        1.0       1.87    NA
---------------------------------------------------------------------------
                      387.0      388.5        1.5       2.31    NA
---------------------------------------------------------------------------
                      408.0      409.5        1.5       1.77    NA
---------------------------------------------------------------------------
                      418.5      438.0       19.5       0.73    ODM17
---------------------------------------------------------------------------
---------------------------------------------------------------------------
426,250E  NR09378     322.7      333.5       10.8       0.57    ODM17
---------------------------------------------------------------------------
                      344.0      366.5       22.5       0.83    ODM17
---------------------------------------------------------------------------
                      381.5      383.0        1.5       1.18    NA
---------------------------------------------------------------------------
---------------------------------------------------------------------------
426,125E  NR09381     306.5      321.5       15.0       0.82    ODM17
---------------------------------------------------------------------------
---------------------------------------------------------------------------
426,100E  NR09384     287.0      303.5       16.5       0.76    ODM17
---------------------------------------------------------------------------
                      500.0      503.0        3.0       1.03    NA
---------------------------------------------------------------------------

Exploration Drilling, ODM17 Zone
---------------------------------------------------------------------------
                                Metres                          Zone
--------  ---------   ---------------------------    -------    -----------
                                             Core         Au
Section   Hole No.     From         To   Length(i)  (g/t)(ii)  (where known)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
425,150E  NR09373     305.3      321.0       15.7       0.70    South
---------------------------------------------------------------------------
                      331.5      332.5        1.0       2.85    NA
---------------------------------------------------------------------------
                      618.0      630.0       12.0       1.45    ODM17
---------------------------------------------------------------------------
                      657.0      669.0       12.0       0.85    ODM17
---------------------------------------------------------------------------
                      733.5      735.0        1.5       1.29    NA
---------------------------------------------------------------------------
                      819.0      820.5        1.5       1.10    NA
---------------------------------------------------------------------------
                      888.0      889.5        1.5       1.27    NA
---------------------------------------------------------------------------
(i)  approximately equal to true thickness
(ii) uncut
 
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. 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.


The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

CONTACT INFORMATION:

Rainy River Resources Ltd.
Liz Caridi
(604) 639-4497
lcaridi@rainyriverresources.com
www.RainyRiverResources.com

INDUSTRY: Manufacturing and Production - Mining and Metals


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Rainy River Resources, Ltd.

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CODE : RR.V
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Rainy River is a gold and silver exploration company based in Canada.

Its main exploration properties are TI-PA-HAA-KAA-NING (TPK) and RAINY RIVER in Canada.

Rainy River is listed in Canada and in United States of America. Its market capitalisation is CA$ 3.0 millions as of today (US$ 2.4 millions, € 2.3 millions).

Its stock quote reached its highest recent level on April 29, 2011 at CA$ 9.92, and its lowest recent point on May 12, 2022 at CA$ 0.03.

Rainy River has 99 973 000 shares outstanding.

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In the News and Medias of Rainy River Resources, Ltd.
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Annual reports of Rainy River Resources, Ltd.
2008 Annual report
Annual Report 2007
Financings of Rainy River Resources, Ltd.
11/13/2012Announces $75 Million Bought Deal Financing
8/17/2010Announces Flow-Through Share Financing
2/19/2010Announces Increased Size of Private Placement
11/2/2009Closes Flow-Through Share Financing
10/7/2009Announces Flow-Through Share Financing
8/2/2007Closes $35 Million Bought Deal Financing
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2/17/2010Grants Stock Options
2/12/2009Announces Grant and Repricing of Stock Options
11/14/2008Grants Stock Options
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10/11/2007 Agreement on Additional Gold Property, NW Ontario
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2/22/2007to Test New Gold-Bearing Base =?ISO-8859-1?Q?Metal=20Target...
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