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TORONTO, ONTARIO--(Marketwire - June 9,
2010) - Rainy River Resources Ltd. (TSX VENTURE:RR) (the
"Company" or "Rainy") announces high-grade gold
intercepts from the 433 zone at the Rainy River Gold Project in
Northwestern Ontario.
Highlights
-- 433 Zone high-grade plunge continues - 128.5 g/t (4.13 oz/t) gold over 5.5 metres -- 76.0 g/t (2.44 oz/t) gold over 1.5 metres discovered 100 metres east of main 433 zone -- New 433 FW zone returns 17.7 g/t (0.57 oz/t) over 1.5 metres
433 Drill Hole Extension Program
Rainy River continues to extend previously drilled holes into the deep
areas of the 433 zone with encouraging results. Drill hole NR06-42E
intersected 128.5 g/t (4.13 oz/t) gold over 5.5 metres, including 220.3
g/t (7.08 oz/t) gold over 3.2 metres, including 452.8 g/t (14.5 oz/t)
gold over 1.5 metres approximately 500 metres below surface. This new
intersection lies approximately 50 metres up-dip of an intersection of
7.6 g/t (0.24 oz/t) gold over 18.0 metres in NR08-250, including 79.5
g/t (2.56 oz/t) gold over 1.5 metres (see news release dated May 27,
2008) and further supports the presence of a high-grade corridor within
the 433 zone.
Additionally, drill hole NR08-244E intersected 76.0 g/t (2.44 oz/t)
gold over 1.5 metres approximately 100 metres down plunge from an
intersection of 9.8 g/t (0.31 oz/t) gold over 1.5 metres in hole
NR06-77E. These two intersections are significant in that they lie 100
metres east of the main 433 Zone in a previously untested area and
represent a possible eastward strike extension of the zone.
Further drill results at a depth of approximately 600 metres include
NR09-355E intersecting 17.7 g/t (0.57 oz/t) gold over 1.5 metres in the
433 FW (FootWall) Zone and NR06-65E intersecting 17.0 g/t (0.55 oz/t)
gold over 1.5 metres in the main 433 Zone. In addition, NR10-486
demonstrated that significant upside exists in the shallow regions of
the 433 Zone by intersecting 1.77 g/t (0.05 oz/t) gold over 40.5
metres, including an interval of 5.22 g/t (0.17 oz/t) gold over 7.5
metres.
Detailed assay results for all holes are located in Table 1, below. To
view Drillhole Location Plan Map and Longitudinal Section please click
on the following link: http://media3.marketwire.com/docs/RR0609.pdf
Commentary
"We have had great success finding and improving the continuity of
high-grade gold throughout both the 433 and ODM zones," commented
Garett Macdonald, Vice President of Operations. "The exploration
program continues to demonstrate the potential for underground mining
and we have commissioned an alternative scoping scenario to study an
all underground mining operation versus a pit & underground
operation. We will be aggressively pursuing a drilling and engineering
program to look at both options, including the development of a decline
from surface to access these high grade areas. In addition to
strengthening the continuity of the deposit the drill program will also
be designed to increase resources."
Western Area and RC Target Drilling Update
As part of the step-out exploration program, seven widely spaced drill
holes were completed in the western area of the deposit and near the
South Zone western extension. All holes intersected gold values over
narrow widths as detailed in Table 1.
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. Garett Macdonald,
P.Eng., is the person responsible for the content 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 over CAN$60
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 Results
CORE DEPTH FROM TO LENGTH GOLD HOLE-ID SECTION (m) (m) (m) (m) (g/t) ZONE --------------------------------------------------------------------------- NR0619E 425706 447 500.0 509.0 9.0 4.39 HW 433 INCLUDING 425706 446 503.0 506.0 3.0 8.55 HW 433 --------------------------------------------------------------------------- NR0638E 425715 324 386.0 387.5 1.5 1.36 HW 433 425715 327 390.5 392.0 1.5 1.49 HW 433 425716 357 428.0 429.5 1.5 2.23 HW 433 425716 362 434.0 435.5 1.5 2.09 HW 433 425718 414 500.0 501.5 1.5 1.32 HW 433 425719 440 533.0 534.5 1.5 3.14 HW 433 --------------------------------------------------------------------------- NR0642E 425580 338 474.5 476.0 1.5 1.13 HW 433 425583 362 507.5 512.0 4.5 1.86 HW 433 425584 371 522.5 524.0 1.5 2.63 HW 433 425586 396 558.5 561.5 3.0 3.50 HW 433 425588 409 579.5 581.0 1.5 1.70 HW 433 425588 416 588.5 596.0 5.5 128.53 433 INCLUDING 425588 416 588.5 591.7 3.2 220.32 433 INCLUDING 425588 415 588.5 590.0 1.5 452.82 433 425590 430 611.0 614.0 3.0 1.90 FW 433 425595 468 668.0 670.8 2.8 1.06 FW 433 --------------------------------------------------------------------------- NR0643E 425611 331 459.0 460.5 1.5 1.87 HW 433 425618 376 525.0 526.5 1.5 2.08 HW 433 425622 402 564.0 565.5 1.5 1.08 433 425624 419 589.5 591.0 1.5 1.00 433 --------------------------------------------------------------------------- NR0646E 425707 0 491.0 492.5 1.5 3.41 HW 433 --------------------------------------------------------------------------- NR0649E 425556 427 546.5 548.0 1.5 1.71 HW 433 425558 431 552.5 554.0 1.5 1.60 HW 433 425570 484 623.0 626.0 3.0 6.85 433 INCLUDING 425570 483 623.0 624.5 1.5 12.50 433 --------------------------------------------------------------------------- NR0653E 425649 384 542.0 543.5 1.5 2.92 HW 433 425654 422 599.3 600.5 1.2 2.03 433 --------------------------------------------------------------------------- NR0652E 425619 341 486.5 488.0 1.5 2.05 HW 433 425630 404 578.0 581.0 3.0 1.05 HW 433 425634 423 608.0 609.5 1.5 1.38 433 425634 424 609.5 611.0 1.5 1.68 433 425657 545 794.0 795.5 1.5 1.51 FW 433 --------------------------------------------------------------------------- NR0655E 425698 415 584.0 585.5 1.5 3.28 HW 433 425699 440 621.5 622.6 1.1 2.64 HW 433 --------------------------------------------------------------------------- NR0663E 425560 538 665.0 666.5 1.5 7.63 433 --------------------------------------------------------------------------- NR0665E 425517 574 656.0 657.5 1.5 17.04 433 NR0667E 425457 463 511.5 513.0 1.5 1.32 HW 433 425468 573 640.5 642.0 1.5 1.44 HW 433 425470 586 655.5 657.0 1.5 1.11 HW 433 425470 591 661.5 663.0 1.5 1.53 HW 433 425473 609 682.5 684.0 1.5 1.16 433 425479 653 736.5 738.0 1.5 1.10 FW 433 425480 665 750.0 751.5 1.5 2.34 FW 433 425481 668 754.5 756.0 1.5 5.46 FW 433 425503 802 919.5 921.0 1.5 8.18 FW 433 --------------------------------------------------------------------------- NR0674E 425557 540 668.0 669.5 1.5 8.29 433 --------------------------------------------------------------------------- NR0677E 425651 399 515.0 518.0 3.0 1.60 HW 433 425654 429 557.0 558.5 1.5 4.94 HW 433 425657 463 605.0 606.5 1.5 1.04 HW 433 425659 479 627.5 629.0 1.5 1.15 HW 433 425659 500 657.5 659.0 1.5 2.62 433 425660 522 689.0 690.5 1.5 9.82 433 --------------------------------------------------------------------------- NR0676E 425607 456 576.0 577.5 1.5 5.35 HW 433 425619 561 724.5 726.0 1.5 6.76 433 --------------------------------------------------------------------------- NR0685E 425518 564 618.0 619.5 1.5 1.87 HW 433 425518 568 622.5 624.0 1.5 1.27 HW 433 425525 627 691.5 693.0 1.5 1.36 HW 433 425529 663 732.0 735.0 3.0 1.92 433 425537 719 799.5 801.0 1.5 1.23 FW 433 --------------------------------------------------------------------------- NR06131E 425430 650 729.5 731.0 1.5 1.10 433 --------------------------------------------------------------------------- NR07148E 425515 531 625.5 627.0 1.5 6.05 433 --------------------------------------------------------------------------- NR08244E 425712 397 555.5 557.2 1.7 2.39 HW 433 425719 438 617.0 618.5 1.5 3.64 433 425727 497 704.0 705.5 1.5 76.00 FW 433 --------------------------------------------------------------------------- NR08246E 425590 410 561.0 562.5 1.5 1.01 433 425590 421 576.0 577.5 1.5 1.03 433 --------------------------------------------------------------------------- NR08248E 425628 294 414.3 415.2 0.9 2.19 HW 433 425630 314 444.5 446.0 1.5 9.74 HW 433 425631 326 461.0 462.6 1.6 2.06 HW 433 425631 330 467.0 468.5 1.5 6.94 HW 433 425633 356 506.0 507.5 1.5 2.36 433 425634 383 546.5 548.0 1.5 2.35 433 425634 387 552.5 554.0 1.5 1.03 433 425635 404 578.0 579.5 1.5 1.96 433 --------------------------------------------------------------------------- NR08251E 425684 312 425.0 426.5 1.5 2.10 HW 433 425685 315 428.0 429.5 1.5 3.55 HW 433 425692 409 563.0 566.0 3.0 1.50 433 425693 429 591.5 593.0 1.5 1.42 433 --------------------------------------------------------------------------- NR09355E 425510 390 540.5 542.0 1.5 1.07 HW 433 425509 394 546.5 548.0 1.5 1.52 HW 433 425450 554 801.5 803.0 1.5 17.73 FW 433 --------------------------------------------------------------------------- NR10486 425763 192 222.5 224.0 1.5 4.93 HW 433 425763 223 239.0 279.5 40.5 1.77 433 INCLUDING 425763 229 263.0 270.5 7.5 5.22 433 INCLUDING 425763 227 263.0 266.0 3.0 7.77 433 --------------------------------------------------------------------------- NR10501 424088 179 229.0 230.5 1.5 1.04 WESTERN AREA --------------------------------------------------------------------------- NR10502 424049 25 29.3 31.0 1.7 0.91 WESTERN AREA 424049 30 35.5 37.0 1.5 0.68 WESTERN AREA 424051 120 143.5 145.0 1.5 1.09 WESTERN AREA 424059 198 239.5 241.0 1.5 1.48 WESTERN AREA 424061 217 266.0 267.0 1.0 2.76 WESTERN AREA 424074 293 370.0 371.5 1.5 3.45 WESTERN AREA --------------------------------------------------------------------------- NR10503 424545 43 49.0 50.5 1.5 1.63 SOUTHWEST RC 424553 150 182.4 184.0 1.6 1.21 SOUTHWEST RC 424581 243 305.5 307.0 1.5 0.95 SOUTHWEST RC --------------------------------------------------------------------------- NR10504 424468 84 97.0 98.5 1.5 1.14 SOUTHWEST RC 424468 85 98.5 100.0 1.5 1.31 SOUTHWEST RC 424454 283 340.0 341.5 1.5 1.78 SOUTHWEST RC --------------------------------------------------------------------------- NR10505 424545 113 128.5 130.0 1.5 0.97 SOUTHWEST RC --------------------------------------------------------------------------- NR10507 424383 63 71.5 73.0 1.5 1.87 SOUTHWEST RC 424391 225 272.5 274.0 1.5 1.37 SOUTHWEST RC --------------------------------------------------------------------------- NR10509 424897 289 380.5 382.0 1.5 0.64 NORTHERN RC ---------------------------------------------------------------------------
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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