Rainy River Resources Ltd. (TSX VENTURE: RR) (the "Company" or
"Rainy River") is pleased to announce assay results from a new
nickel discovery at the Rainy River Gold Project ("RRGP") in
northwest Ontario, where the Company is completing 170,000 metres
of diamond drilling in 2011. Results are summarized in Tables 1
& 2.
Rainy River Resources also advises that the Company will be
presenting at the Denver Gold Forum in Colorado Springs, USA, on
Wednesday September 21st, at 9:20 am MDT.
HIGHLIGHTS
-- Rainy River has intersected a new zone of nickel-enriched magmatic
massive sulphides at RRGP.
-- NR11822 has intersected high grade nickel, copper and cobalt massive
sulphides with significant precious metals at a vertical depth of 106
metres.
BACKGROUND
In 1995, prior to Rainy River's purchase of the RRGP property,
drill hole NR-95-34 intersected massive and net textured Ni-Cu-PGM
(platinum group metals)-Au-Ag-Co-bearing sulphides within a
chloritized and locally serpentinized mafic-ultramafic host.
NR-95-34 intersected 2.44 g/t gold, 0.94 % copper, 15.6 g/t silver,
1.31% nickel, 1.25 g/t platinum and 3.32 g/t palladium over 4.86
metres. At the time, this new nickel zone, which crosscuts gold
mineralization in the main ODM Zone, became known as the 34-Zone.
The 34 Zone extends at least 350 metres along strike and the host
intrusion is approximately 100 metres thick and plunges at twelve
degrees to the west. The limits of the 34 Zone are poorly
constrained owing to the discontinuous nature of the mineralization
due to faulting. In the recent NI 43-101 report on the RRGP, a
modest resource for this zone of approximately 2,500 ounces of gold
and 1,413,000 pounds of nickel have been assigned by SRK, all in
the Indicated resource category.
TODAY'S EXPLORATION RESULTS
Pinewood South
As part of Rainy River's ongoing reconnaissance exploration
program to explore for and target precious metal-rich volcanogenic
massive sulphides ("VMS") south of the RRGP, the Company has
intersected a new zone of magmatic massive sulphides, referred to
as Pinewood South.
NR11822 intersected 4.3 metres of heavily chloritized and
mineralized ultramafics with a 2.35 metre section of magmatic
massive sulphide. The massive sulphides consist of both pyrite and
pyrrhotite, with pyrrhotite being the dominant sulphide. This
intersection is located 1.2 kilometres south-south west of the
original 34 Zone discovery. Table 1 below provides assay details
for the grouped averages, while Table 2 shows detailed assay
intervals.
TABLE 1: Assay Details for the Grouped Averages
----------------------------------------------------------------------------
HOLE-ID FROM TO Length NI % CU % CO % AU g/t AG g/t
----------------------------------------------------------------------------
NR11822 119.25 122.10 2.85 3.060 1.190 0.062 1.23 8.68
----------------------------------------------------------------------------
Including 119.75 122.10 2.35 3.626 1.316 0.064 1.38 9.69
----------------------------------------------------------------------------
Assays for gold and silver show strong similarities in chemistry
to the original 34 Zone mineralization. The ultramafics at RRGP
have intruded a package of altered and locally well mineralized
dacitic to rhyolitic units, and it is thought that these
mineralized felsics have provided the sulphur source to enable the
mineralization to precipitate. Two additional holes (NR11827 &
NR11836) have been drilled in the vicinity of the intersection, and
both have intersected significant thicknesses of mafic-ultramafic
rocks with weak blebby mineralization. Results for platinum and
palladium will be available within a week.
Rainy River has mobilized a borehole EM crew and has contracted
Eastern Geophysics Ltd. to carry out a gravity survey to better
outline the new discovery. This information coupled with a new
Fugro Helitem Survey will better enable Rainy River to target the
new nickel discovery for future follow up.
COMMENTARY
Raymond Threlkeld, President and CEO, adds "We have been
exploring for gold-rich VMS in the area of NR11822 over the past
six months. We have had several drill intercepts of pyritic massive
sulphide, indicating we are in a potentially productive horizon,
but they have little to no base metal or gold values to date. It
appears that an ultramafic unit has intruded the sulphur-rich
VMS-style alteration and mineralization in that area and produced a
very high grade nickel-copper-gold lens, located approximately 1 km
south of the RRGP.
This initial discovery is a direct result of our reconnaissance
strategy to explore for and target precious metal-rich volcanogenic
massive sulphides south of RRGP. Our plan for this stratigraphic
package is to follow up with geophysical test work and additional
drilling.
While we are encouraged with this recent discovery, we remain
committed to the primary goal of our exploration program, which is
to develop and expand the Company's existing gold resources."
Qualified Persons
Rainy River's exploration program in Richardson Township is
being supervised by Kerry Sparkes, P.Geo., Vice-President
Exploration, a Qualified Person as defined by National Instrument
43-101. Garett Macdonald, P.Eng., Vice President Operations and
Kerry Sparkes P.Geo. are the persons responsible for the content of
this news release. The Company has a rigorous QA/QC 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. 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 Resources Ltd.
Rainy River Resources is a Canadian precious metals exploration
company whose key asset is the Rainy River Gold Project. With
approximately $115 million in cash and short term investments, 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. The Company is also
working to advance the early-stage discoveries at its TPK Joint
Venture Property, also in Ontario, where it can earn a 51% interest
in the property from Northern Superior Resources Inc. 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 2: Detailed Assay Intervals
----------------------------------------------------------------------------
Vertical
HOLE-ID FROM TO Length Section Depth NI % CU % CO % AU g/t AG g/t
----------------------------------------------------------------------------
NR11822 117.80 119.25 1.45 425472 104.50 0.139 0.17 0.009 0.23 1.39
NR11822 119.25 119.75 0.50 425472 105.34 0.399 0.60 0.052 0.53 3.90
NR11822 119.75 120.80 1.05 425472 106.00 3.770 0.95 0.063 2.40 7.39
NR11822 120.80 122.10 1.30 425472 107.01 3.510 1.61 0.065 0.55 11.55
less
than
NR11822 122.10 123.00 0.90 425472 107.96 0.007 0.01 0.002 0.005 0.08
----------------------------------------------------------------------------
To view the map associated with this press release, please visit
the following link:
http://media3.marketwire.com/docs/fom919.pdf.
The TSX Venture Exchange has not reviewed and does not accept
the responsibility for the adequacy or accuracy of this news
release.
Contacts: Rainy River Resources Ltd. Indi Gopinathan Director,
Investor Relations (416) 645-7289
igopinathan@rainyriverresources.com www.rainyriverresources.com
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