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VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Sept. 8, 2009) - Rainy River Resources
Ltd. (TSX VENTURE:RR) is pleased to announce the results of 32 diamond
drill holes that were drilled after the assay cut-off date for the
recently completed NI43-101 resource estimate (SRK, July 2009; 2.2
million ounces gold indicated and 1.8 million ounces gold inferred;
available at www.sedar.com).
All significant drill results and a location map with section lines for
reference are posted on the Rainy River website www.RainyRiverResources.com. All holes collared in 2009 and completed by July 6 have now
been released. Summary tables on pages 4 through 7 of this release are
to be read in conjunction with the text, below.
Deep Exploration Drill Holes
Two deep holes, Nos 360 and 369, were collared south of the proposed
pit to test for both a near-surface source for a gold-grains-in-till
anomaly and deep down-dip extensions of the known zones. These holes,
sited southwest of the Cap Zone, resulted in the discovery of a new
surface zone and a thick, high-grade, deep extension of the ODM17 zone.
The zone of 13.5 meters of 1.75 g/t gold encountered in Hole 369
correlates very well with the 24.0 m section grading 1.08 g/t in Hole
360. This could represent a new volcanogenic gold horizon lying south
of the Cap Zone. The new zone is coincident with the edge of a large
high-low magnetic contrast that extends 2 km to the west and with a
gold-in-till and associated gold-in-bedrock anomaly defined by reverse
circulation drilling. This opens up another large exploration target
within the Rainy River caldera complex.
The deep, 36 m intercept grading 3.93 g/t gold in Hole 360 extends the
ODM17 zone more than 100 m down-dip. The gold assays within this
section are remarkably uniform, illustrating the potential for adding
significantly to the underground resource base.
Infill Drilling
The drilling was focused mainly on infilling and adding resources
within the current conceptual pit as proposed by SRK. Drill holes 347,
354 and 365 (Section 425,825E), DH 355 (Section 425,700E), DH 359
(Section 425,625), DH 353 (Section 425,400E) and DH 351 (Section
425,275E) confirmed the grades and widths as projected by the block
model for the current resources. Details of the individual assay zones
are included in the "Infill Drilling" table at the end of the
release, by Section numbers from east to west.
New Infill Information
Some infill holes drilled within the SRK conceptual pit cut
mineralization that was not included in the block model. These zones
have the potential to add gold ounces and reduce waste within the pit
shell. Of particular significance is Hole 349 which extended the ODM 17
Zone 60 m to the west and Hole 358 which contained 32.1 meters at 1.18
g/t gold within the south wall of the conceptual pit. Another zone,
below the pit, of 57.0 meters of 0.99 g/t gold was encountered, further
demonstrating the continuity of the volcanogenic style of
mineralization within the Rainy River caldera complex.
Down-Plunge Drilling, 433 Zone
Four holes were drilled down-plunge on the 433 Zone to determine the
continuity of mineralization and define the frequency and attitude of
higher-grade vein sets encountered in drilling across the zone from
south to north. The continuity was confirmed but drilling did not
encounter a higher frequency of high grade vein zones as expected,
suggesting that the high-grade veins in the 433 Zone may be parallel to
the main volcanogenic mineralization. This is potentially significant
as the veins may have greater strike and dip extent than previously
thought.
Other Exploration Drilling
Exploration holes drilled in the BP Zone and Johnson Block areas and to
follow up gold-in-till and associated gold-in-bedrock anomalies (RC
targets 3 and 4) all hit highly anomalous gold zones but these
intercepts were either deep (outside pit shell and resource) or
inconclusive. Results are tabulated below.
Newly appointed President and CEO, Raymond Threlkeld, commented:
"I am very pleased with the results recently obtained after the
43-101 resources were updated. Infill drilling has confirmed the block
model and new zones have been intercepted that will add to the
resources. I am particularly encouraged by the discovery of a new,
near-surface zone and the high grades in Hole 360. Both zones add to
the open pit and underground potential we see in the Rainy River
project."
In response to the Company's favorable results, Rainy River has added a
fourth drill rig to step up the resources definition and new discovery
potential in the Rainy River caldera complex. The Company is well
positioned financially with $20 million in the treasury at the end of
the third quarter to move the project into mine development and
discover the true potential of the Rainy River caldera complex.
2009 Planning Update
- Fourth drill rig added: two drill rigs to focus on infill and reserve
expansion and two drill rigs to focus on new discovery.
- Baseline environmental studies underway under contract to Klohn
Crippen Berger Limited.
- Geotechnical studies underway include slope stability analysis,
geohydrology and water quality sampling.
- Metallurgical testing program to begin late September to enhance
initial test results.
- Pit
optimization studies to begin in September.
- In-house scoping study to be completed in Q1, 2010.
Mr. Threlkeld commented that, "we are moving aggressively to
develop the Rainy River Project and will provide timely updates to our progress."
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 within the meaning of 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, 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 a CAN$20 million
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
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.
DRILL HOLE SUMMARY TABLES Deep Exploration Drill Holes --------------------------------------------------------------------------- Metres -------------- Core Zone Section Hole No. From To Length(i) Au (g/t)(ii) (where known) --------------------------------------------------------------------------- --------------------------------------------------------------------------- 425275E NR09-360 77.2 79.9 2.7 2.02 --------------------------------------------------------------------------- 210.5 213.5 3.0 1.12 South --------------------------------------------------------------------------- 233.0 234.5 1.5 1.27 South --------------------------------------------------------------------------- 253.0 255.5 2.5 1.67 South --------------------------------------------------------------------------- 269.0 271.8 2.8 1.65 South --------------------------------------------------------------------------- 281.0 305.0 24.0 1.08 South --------------------------------------------------------------------------- 498.5 499.3 0.8 8.53 --------------------------------------------------------------------------- 585.9 638.0 52.1 2.99 ODM17 --------------------------------------------------------------------------- Including 591.5 627.5 36.0 3.93 --------------------------------------------------------------------------- Including 623.0 627.5 4.5 10.66 --------------------------------------------------------------------------- --------------------------------------------------------------------------- 425225E NR09-369 221.0 234.5 13.5 1.75 South --------------------------------------------------------------------------- 240.5 242.0 1.5 1.00 --------------------------------------------------------------------------- 251.0 252.5 1.5 1.29 --------------------------------------------------------------------------- 300.5 302.0 1.5 1.14 --------------------------------------------------------------------------- 303.5 305.0 1.5 1.11 --------------------------------------------------------------------------- 311.0 312.5 1.5 1.92 --------------------------------------------------------------------------- 468.5 470.0 1.5 1.21 --------------------------------------------------------------------------- 623.0 627.5 4.5 2.23 ODM17 --------------------------------------------------------------------------- 632.0 633.5 1.5 3.85 ODM17 --------------------------------------------------------------------------- 642.5 644.0 1.5 3.09 ODM17 --------------------------------------------------------------------------- 659.0 662.0 3.0 1.60 ODM17 --------------------------------------------------------------------------- --------------------------------------------------------------------------- (i) Approximately equal to true thickness --------------------------------------------------------------------------- (ii) Uncut --------------------------------------------------------------------------- Infill Drilling ------------------------------------------------------------------------ Metres -------------- Core Au Zone Section Hole No. From To Length(i) (g/t)(ii) (where known) ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425825E NR09-347 167.0 168.5 1.5 1.43 ------------------------------------------------------------------------ 189.5 230.0 40.5 0.61 ODM17 ------------------------------------------------------------------------ 234.5 254.0 19.5 1.24 ODM17 ------------------------------------------------------------------------ Including 249.5 254.0 5.0 3.39 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425825E NR09-354 263.0 264.5 1.5 1.57 ------------------------------------------------------------------------ 272.0 273.5 1.5 1.68 ------------------------------------------------------------------------ 303.5 309.5 6.0 1.00 ------------------------------------------------------------------------ 317.0 326.0 9.0 0.48 ------------------------------------------------------------------------ 389.0 398.0 9.0 0.68 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425825E NR09-365 396.5 446.0 49.5 0.93 ODM17 ------------------------------------------------------------------------ Including 431.0 435.5 4.5 6.22 ------------------------------------------------------------------------ 479.0 510.5 31.5 1.34 ODM17 ------------------------------------------------------------------------ Including 480.5 486.5 6.0 2.51 ------------------------------------------------------------------------ and 503.0 507.5 4.5 3.94 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425700E NR09-355 134.0 321.5 187.5 0.80 ODM17 diagonal ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425600E NR09-359 60.5 74.0 13.5 0.65 South ------------------------------------------------------------------------ 107.0 114.5 7.5 0.81 Cap ------------------------------------------------------------------------ 479.0 480.5 1.5 3.65 ODM17 ------------------------------------------------------------------------ 528.5 542.0 13.5 0.62 ODM17 ------------------------------------------------------------------------ 647.0 648.5 1.5 1.85 ODM17 ------------------------------------------------------------------------ 662.0 687.5 25.5 0.83 ODM17 ------------------------------------------------------------------------ Including 683.0 687.5 4.5 3.20 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425400E NR09-353 84.5 89.0 4.5 1.48 ODM17 ------------------------------------------------------------------------ 111.5 150.4 38.9 0.91 ODM17 ------------------------------------------------------------------------ Including 111.5 131.0 19.5 1.21 ------------------------------------------------------------------------ 483.5 488.0 4.5 1.11 HS ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425275E NR09-351 137.0 141.5 4.5 1.33 ODM/17 ------------------------------------------------------------------------ 150.5 152.0 1.5 2.09 ODM/17 ------------------------------------------------------------------------ ------------------------------------------------------------------------ (i) Approximately equal to true thickness except in Hole 355 ------------------------------------------------------------------------ (ii) Uncut ------------------------------------------------------------------------ New Infill Information ------------------------------------------------------------------------ Metres ------------- Core Au Zone Section Hole No. From To Length(i) (g/t)(ii) (where known) ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425700E NR09-358 47.0 51.5 4.5 0.88 South ------------------------------------------------------------------------ 288.5 291.5 3.0 1.17 Cap ------------------------------------------------------------------------ 397.3 431.0 32.2 1.18 ODM17 ------------------------------------------------------------------------ 449.0 450.5 1.5 33.40 ODM17 ------------------------------------------------------------------------ 474.5 531.5 57.0 0.99 ODM17 ------------------------------------------------------------------------ Including 507.5 516.5 9.0 1.78 ------------------------------------------------------------------------ 527.0 531.5 4.5 3.55 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425650E NR09-340 165.5 168.5 3.0 4.93 433 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425550E NR09-371 135.5 143.0 7.5 2.76 South ------------------------------------------------------------------------ 151.0 155.0 4.0 1.54 Cap ------------------------------------------------------------------------ 484.0 501.5 17.5 2.13 ODM17 ------------------------------------------------------------------------ 534.5 549.5 15.0 1.77 ODM17 ------------------------------------------------------------------------ 728.0 732.5 4.5 4.60 HS ------------------------------------------------------------------------ 425325E NR09-352 105.5 158.0 52.5 1.21 ODM17 ------------------------------------------------------------------------ Including 153.5 155.0 1.5 19.31 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425200E NR09-349 164.0 168.5 4.5 3.01 ODM17 ------------------------------------------------------------------------ 440.0 441.5 1.5 2.21 ------------------------------------------------------------------------ 564.4 566.0 1.6 70.87 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425150E NR09-372 No significant intercepts ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425150E NR09-374 No significant intercepts ------------------------------------------------------------------------ ------------------------------------------------------------------------ (i) Approximately equal to true thickness ------------------------------------------------------------------------ (ii) Uncut ------------------------------------------------------------------------ Down-Plunge Drilling, 433 Zone -------------------------------------------------------------------------- Metres ------------ Core Au Zone Section Hole No. From To Length(i) (g/t)(ii) (where known) -------------------------------------------------------------------------- -------------------------------------------------------------------------- 425900E NR09-368 52.0 255.5 203.5 0.92 433 -------------------------------------------------------------------------- -------------------------------------------------------------------------- 425850E NR09-370 52.0 333.5 281.5 0.72 433 -------------------------------------------------------------------------- -------------------------------------------------------------------------- 425825E NR09-361 49.0 179.0 130.0 0.93 433 -------------------------------------------------------------------------- -------------------------------------------------------------------------- 425825E NR09-367 89.0 221.1 132.1 1.24 433 -------------------------------------------------------------------------- -------------------------------------------------------------------------- (i) Much greater than true thickness -------------------------------------------------------------------------- (ii) Uncut -------------------------------------------------------------------------- Other Exploration Drilling ------------------------------------------------------------------------ Metres ------------- Core Au Zone Section Hole No. From To Length(i) (g/t)(ii) (where known) ------------------------------------------------------------------------ ------------------------------------------------------------------------ 1) RC Targets 3 and 4 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425300E NR09-325 126.5 132.5 6.0 1.26 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425150E NR09-327 258.0 259.5 1.5 1.19 ------------------------------------------------------------------------ 454.5 456.0 1.5 1.16 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425200E NR09-328 479.0 485.3 6.3 1.29 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 2) Gold-Rich VMS Lens of Hole 322, RC Targets 3 and 4 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425500E NR09-337 323.0 324.5 1.5 1.29 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 425500E NR09-338 No significant intercepts ------------------------------------------------------------------------ ------------------------------------------------------------------------ 3) Beaver Pond Area ------------------------------------------------------------------------ ------------------------------------------------------------------------ 424900E NR09-339 371.0 375.5 4.5 1.77 ------------------------------------------------------------------------ 381.5 383.0 1.5 1.88 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 424975E NR09-343 338.0 339.5 1.5 1.02 ------------------------------------------------------------------------ 344.0 345.5 1.5 1.22 ------------------------------------------------------------------------ 368.0 371.0 3.0 2.68 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 424900E NR09-350 387.5 389.0 1.5 1.32 ------------------------------------------------------------------------ 419.0 422.0 3.0 1.24 ------------------------------------------------------------------------ 425.0 426.6 1.6 1.18 ------------------------------------------------------------------------ 569.0 575.0 6.0 1.54 BP ------------------------------------------------------------------------ Zones correlate outside down pit. ------------------------------------------------------------------------ ------------------------------------------------------------------------ 4) Johnson Block ------------------------------------------------------------------------ ------------------------------------------------------------------------ 426600E NR09-362 230.0 231.5 1.5 1.40 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 426575E NR09-363 191.0 192.5 1.5 1.25 ------------------------------------------------------------------------ 281.0 282.5 1.5 1.13 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 426625E NR09-364 165.5 167.0 1.5 7.73 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 426600E NR09-366 168.5 170.0 1.5 1.60 ------------------------------------------------------------------------ 194.0 195.5 1.5 2.13 ------------------------------------------------------------------------ ------------------------------------------------------------------------ (i) Approximately equal to true thickness ------------------------------------------------------------------------ (ii) Uncut ------------------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this news release.
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