TORONTO, ON December 14, 2010 ¨C Rainy
River Resources Ltd. ("Rainy River"; RR.TSX-V) and Northern
Superior Resources Inc. ("Northern Superior"; SUP.TSX-V) (together,
the "Companies"), are pleased to announce the discovery of
significant gold bearing mineralization intersected during the Companies
initial diamond drilling program on Target 3 of their TPK Joint Venture
project, 190 km northeast of Pickle Lake in Northern Ontario. The diamond drilling is being
conducted with the cooperation of Neskantaga First Nation
("Neskantaga"), which recently passed a community resolution
supporting the agreement between Rainy River and Northern Superior, and
affirming their support for the TPK project.
HIGHLIGHTS
•
Coarse-grained visible gold was noted in drill hole
TPK-10-004
•
TPK-10-004 returns 25.9 g/t Au over 13.5
metres from 149.3 ¨C 162.8 metres
o incl. 46.0 g/t Au over 0.5
metres from 153.0 ¨C 153.5 metres
o incl. 139.4 g/t Au over
1.7 metres from 156.8 ¨C 158.5 metres
o incl. 749.0 g/t Au over
0.3 metres from 157.2 ¨C 157.5 metres
o and 127.0 g/t Au over 0.7 metres from 162.0 ¨C 162.7 metres
•
The high-grade shear zone intersected in TPK-10-004
is open both along strike and down dip
•
TPK-10-005 intersects
3.8 g/t gold over 1.2 metres from 49.6 metres - 50.8 metres
2010
Diamond Drilling Program ¨C Target 3
To date,
ten holes totaling 1,945.0 metres have been drilled on Target 3, with one
hole abandoned due to bad ground conditions. Final assays have been received for
seven of the nine completed holes, and assays for the two remaining holes on
Target 3 will be available in the new year. All reported holes have intersected
variably mineralized shears in quartz monzonite, containing disseminated
pyrite, arsenopyrite and / or coarse grained visible gold. Shear thicknesses are variable,
ranging from 0.1 metres ¨C 13.5 metres. Shear orientations and true
thicknesses are not readily apparent, and will be determined by follow up
drilling, however the high-grade shear zone intersected in TPK-10-004 is open
both along strike and down dip.
Target 3
encompasses a 400 metre-long by 200 metre-wide segment of a 5 km long shear
zone that splays west-northwest from the Stull-Wunnummin Fault, a major,
gold-fertile structure that extends into Manitoba. Reverse circulation (RC) drilling has
shown that the glacial till section immediately south of and glacially
down-ice from the shear corridor
consistently averages 100 to 1000 gold grains per 10 kg sample whereas
till sampled 200 metres to the north (up-ice) contains negligible gold. The gold grains are accompanied
by abundant arsenopyrite, ranging
up to millions of grains per sample, which may contain significant
additional gold. The 1.5 metre
bedrock intercepts immediately beneath the till, in two of the four holes
drilled on the southern edge of the shear corridor, are mylonitized and
returned gold assays of 0.3 to 0.4 g/t.
Sheared, arsenopyrite-bearing boulders measuring up to 2 metres in
diameter and grading up to 94.2 g/t gold are scattered along the central axis
of the shear corridor. Significant gold diamond-drill intercepts to date
(TPK-10-004) are associated dominantly with disseminated pyrite-bearing
mineralization. Arsenopyrite-rich
mineralization, similar to that observed in most of the high-grade surface
boulders, has not yet been encountered in drill core.
2010
Diamond Drilling Program ¨C Target 2
The diamond
drill has already moved to Target 2 to obtain a preliminary test of this
partially lake-covered target prior to winter drilling from the ice. It is
anticipated that two diamond drill holes will be completed prior to
demobilization for the Christmas break on the 18th of December.
Target 2 is
the largest of four diamond drill targets identified by RC drilling. It is
defined by a distinct gold grain in-till anomaly that outlines a dispersion
train of at least 3 kilometers trending in a NE-SW direction. The till anomaly is also associated
with anomalous arsenic and zinc, and overlies a broad shear fractured
leucogranite of the "contact stock". The leucogranite contains both
spessartine garnet and fluorite alteration. Prospecting during the autumn produced
41 mineralized boulders, of which 33 boulders (or 80%) were found to be
anomalous in gold. Five of the
boulders yielded assays between 5-10 g/t gold, while one boulder yielded an
assay of 42 g/t gold.
Geophysical
program initiated
In an
effort to aid targeting for the 2011 winter diamond drill program, Abitibi Geophysics
of Val -D'Or, Quebec, has been mobilized to TPK to carry out an 80
line-kilometre Induced Polarization (IP) / Resistivity Geophysical
Survey. This survey will cover
diamond drill Targets 1¨C 4, with a 100-metre line spacing.
Line
cutting crews have also been mobilized to site, to expand the current grid in
order to facilitate the ground geophysical survey. Neskantaga crews are assisting in grid
re-establishment. IP and
line-cutting will break for Christmas, and resume in the first week of January,
2011.
2011 Winter
Diamond Drill Program
Diamond
drilling crews are scheduled to re-mobilize to site on January 17th,
2011. Diamond drilling will
continue to test targets previously identified by RC drilling and boulder
prospecting (as announced in a joint news release on September 15,
2010). The projected
drilling will also continue to test Target 3 for extensions to the newly
discovered gold zone, as well as new targets that are being developed by RC
drilling and the IP geophysical surveys.
Commentary
"We
are very excited about the high grade discovery at TPK," commented
Raymond Threlkeld, President & CEO of Rainy River. "The discovery hole is open along
strike and at depth, and is just part of what we view as a very large gold
mineralized system. We will be
aggressively exploring the extensions of the discovery and the larger target
areas with our partners, Northern Superior Resources and Neskantaga First
Nation, and are proud that they are involved in this exciting project."
Dr. Thomas
Morris, President and CEO of Northern Superior stated: "Obviously,
Northern Superior Resources is extremely pleased to see results that just
begin to validate our belief in the presence of significant gold
mineralization on the TPK property, bearing in mind of course that the
mineralization being reported here, at a depth of 149 metres, does not
explain the exceptional and extensive surface distribution of the gold
grain-in-till dispersal apron and mineralized boulders previously
reported." Northern Superior is thrilled at the potential that these
results indicate and are so looking forward to the future exploration on this
property with Rainy River and Neskantaga First Nation."
Qualified persons
Rainy River
is the operator of the TPK Joint Venture and the current exploration program
is being supervised by Kerry Sparkes, P.Geo. Vice-President Exploration, a
Qualified Person as defined by National Instrument 43-101. Mr. Sparkes is the person responsible
for the content of this news release. Rainy River has implemented a rigorous
QA/QC program 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. Over-limit samples were
re-assayed with a gravimetric finish.
Samples with visible gold were automatically analyzed for Ore Grade by
1000g 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.
About Rainy River
Rainy River is a Canadian precious metals
exploration company, whose key asset is the Rainy River Gold Project. With
approximately $69 million in its treasury, Rainy River is well funded to
conduct advanced exploration in preparation for Scoping and feasibility
studies. Rainy River's property
is extremely well located in the southwestern corner of Northern Ontario,
near the U.S. border. 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
relative to other mining jurisdictions and according to the annual Fraser
Institute global survey of the mining industry, Ontario has consistently
ranked as one of the top jurisdictions to embrace mineral development.
About
Northern Superior Resources Inc.
Northern
Superior Resources Inc. is a junior exploration company focused on exploring
for gold and diamonds in the Superior Province of the Canadian Shield.
Northern Superior currently has three active, high quality gold exploration
projects in Ontario and Quebec- TPK, Thorne Lake and Wachigabau (see Company
web site, www.superior.com). These
projects and seven more early stage gold exploration projects are based on
the same type of geoscientic data as TPK [New Growth (Northwest part of the
TPK Property), Rapson Bay, Meston Lake, Lespinay, Lac Surprise, Hazeur,
Chibougamou River and Lemark].
Northern Superior is a reporting issuer in British Columbia, Alberta,
Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol
SUP.
For further
information contact:
Rainy River
Resources Ltd. Northern
Superior Resources Inc.
Raymond
Threlkeld Thomas
F. Morris
President
and CEO President
and CEO
Tel: (647) 476-5407 Tel:
(705) 525 ©\0992
Fax : (416) 642-9312 Fax:
(705) 525 ©\7701
e©\mail: lcaridi@rainyriverresources.com e-mail: info@nsuperior.ca www.rainyriverresources.com www.nsuperior.com
Table 1:
Summary of Results
Hole - ID
|
Section
|
Vertical Depth (m)
|
From (m)
|
To (m)
|
Core Length (m)
|
Au
g/t
|
Au
oz/t
|
TPK-10-001
|
|
|
|
|
|
TRACE
|
TRACE
|
TPK-10-002
|
|
|
|
|
|
ABANDONED
|
TPK-10-002A
|
|
|
|
|
TRACE
|
TRACE
|
TPK-10-003
|
5813409
|
55
|
68.0
|
68.4
|
0.4
|
1.76
|
0.05
|
|
5813416
|
65
|
80.7
|
81.1
|
0.4
|
0.91
|
0.03
|
TPK-10-004
|
5813389
|
59
|
61.3
|
64.0
|
2.7
|
0.91
|
0.03
|
|
5813396
|
77
|
81.9
|
82.4
|
0.5
|
0.93
|
0.03
|
|
5813397
|
79
|
83.9
|
84.5
|
0.6
|
0.79
|
0.02
|
|
5813401
|
89
|
94.3
|
94.6
|
0.3
|
0.85
|
0.02
|
|
5813406
|
103
|
109.2
|
109.5
|
0.3
|
0.80
|
0.02
|
|
5813407
|
107
|
113.4
|
114.4
|
1.0
|
1.15
|
0.03
|
|
5813422
|
146
|
149.3
|
162.8
|
13.5
|
25.87
|
0.75
|
INCL
|
5813421
|
143
|
152.0
|
154.0
|
2.0
|
12.29
|
0.36
|
INCL
|
5813421
|
144
|
153.0
|
153.5
|
0.5
|
46.00
|
1.34
|
AND
|
5813423
|
148
|
156.8
|
158.5
|
1.7
|
139.37
|
4.07
|
INCL
|
5813423
|
147
|
157.2
|
157.5
|
0.3
|
749.00
|
21.85
|
AND
|
5813425
|
152
|
162.0
|
162.7
|
0.7
|
127.00
|
3.70
|
|
5813449
|
219
|
233.8
|
234.3
|
0.5
|
2.05
|
0.06
|
|
5813451
|
222
|
237.0
|
237.5
|
0.5
|
5.47
|
0.16
|
TPK-10-005
|
5813548
|
35
|
45.0
|
45.3
|
0.3
|
4.08
|
0.12
|
|
5813544
|
39
|
49.6
|
50.8
|
1.2
|
3.82
|
0.11
|
|
5813481
|
119
|
153.6
|
154.0
|
0.4
|
0.68
|
0.02
|
|
5813472
|
130
|
168.1
|
168.4
|
0.3
|
2.27
|
0.07
|
TPK-10-006
|
5813467
|
8
|
10.6
|
11.1
|
0.5
|
1.05
|
0.03
|
|
5813483
|
27
|
35.6
|
35.9
|
0.3
|
2.00
|
0.06
|
TPK-10-007
|
5813508
|
11
|
13.8
|
14.1
|
0.3
|
1.53
|
0.04
|
|