Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

December 06, 2010 08:00 ET

Rainy River Announces Significant Infill Drilling Results

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2010) - Rainy River Resources Ltd. ("Rainy River" or the "Company") (TSX VENTURE:RR) is pleased to announce drill results from the Rainy River Gold Project in Northwestern Ontario.

To view the maps associated with this press release, please click on the following link:

http://media3.marketwire.com/docs/rr125.pdf

Highlights

  • ODM Zone infill drilling intersects additional high-grade gold mineralization
  • NR10-597 returns 7.1 g/t gold over 22.5 metres, including 159.3 g/t gold over 0.5 metres
  • NR10-596 returns 6.4 g/t gold over 27.0 metres, including 82.8 g/t gold over 1.5 metres
  • NR10-584 returns 5.2 g/t gold over 30.0 metres, including 80.4 g/t gold over 1.5 metres
  • New shallow mineralization discovered in Cap Zone with 7.0 g/t gold over 3.0 metres in NR10-581

Results from all holes are summarized in Table 1: Summary of Results, at the end of this release.

ODM Zone Drilling

The latest infill drilling in the ODM Zone returned several thick intervals of gold mineralization at shallow depths, including new areas of high-grade gold mineralization over narrow widths. These intersections occur at vertical depths ranging from 241 to 296 metres, and include drill hole NR10-585 with 37.6 g/t gold over 3.0 metres, including 61.4 g/t gold over 1.5 metres, and drill hole NR10-594 with a thick intersection of 2.8 g/t gold reported over 24.0 metres, including 29.4 g/t gold over 1.5 metres. Drill hole NR10-585 also intersected 2.0 g/t gold over 37.5 metres at a vertical depth of 273 metres below surface. All of these results are expected to increase average grades within the conceptual open pit. 

The Company also received encouraging assay results from infill drilling deeper within the ODM Zone, with a number of holes intersecting thick widths of gold mineralization, bolstering the potential for bulk underground mining. This includes drill hole NR10-597, intersecting 7.1 g/t gold over 22.5 metres, including 159.3 g/t gold over 0.5 metres at a vertical depth of 539 metres from surface. Drill hole NR10-596 similarly intersected high grades and good widths, returning 6.4 g/t gold over 27 metres, including 82.8 g/t over 1.5 metres. Strong bulk-mining potential was further demonstrated by drill hole NR10-584 with 5.2 g/t gold reported over a width of 30.0 metres, including 80.4 g/t gold over 1.5 metres, at a vertical depth of 434 metres

Other notable assay results from the ODM zone include hole NR10-598 with 10.8 g/t gold over 4.5 metres, including 28.6 g/t gold over 1.5 metres at 383 metres below surface, and drill hole NR10-600, which intersected 3.0 g/t gold over 16.6 metres at 405 metres below surface. 

Cap Zone Drilling

Drill hole NR10-581 returned encouraging assays at shallow depths from the Cap Zone, an area lying 300 metres south of the ODM zone with limited exploration done to date, and the potential to add additional resources. Results from drill hole NR10-581 include 7.2 g/t gold over 1.5 metres at a vertical depth of 91 metres, 7.0 g/t gold over 3.0 metres at a vertical depth of 141 metres, and 0.9 g/t gold over 9.0 metres, at a vertical depth of 163 metres. 

Commentary

"The infill program has been very successful in demonstrating the operational flexibility that the Rainy River Gold Project will offer," commented Raymond Threlkeld, President & CEO. "We continue to see higher grade results from the potential open pit area and are encouraged to see new results from the Cap Zone, an area we believe could quickly add shallow ounces to the current resource base with further exploration."

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., 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

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 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 prefeasibility studies, and (2) selective diamond-drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centred 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 in Canada. 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 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 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.

Table 1: Summary of Results

Hold-ID   Section   Vertical Depth (m)   From (m)   To (m)   Length   Au g/t   Zone
NR10569   425537   384   420.0   421.5   1.5   3.05   ODM
    425541   440   486.0   487.5   1.5   3.16   ODM
NR10581   425449   91   94.5   96.0   1.5   7.21   CAP
    425450   141   148.5   151.5   3.0   6.97   CAP
    425450   163   169.5   178.5   9.0   0.93   CAP
    425468   421   468.0   469.5   1.5   5.55   ODM
    425469   431   480.0   481.5   1.5   2.64   ODM
    425470   444   493.5   498.0   4.5   1.68   ODM
    425476   487   547.5   549.0   1.5   7.77   ODM
NR10584   425407   399   443.0   444.5   1.5   13.68   ODM
    425412   434   470.0   500.0   30.0   5.15   ODM
INCL   425412   434   483.5   485.0   1.5   80.36   ODM
    425420   478   536.0   537.5   1.5   4.06   ODM
NR10585   425407   241   265.5   268.5   3.0   37.61   ODM
INCL   425407   241   265.5   267.0   1.5   61.42   ODM
AND   425408   242   267.0   268.5   1.5   13.80   ODM
    425410   273   283.5   321.0   37.5   2.02   ODM
INCL   425409   266   294.0   295.5   1.5   5.23   ODM
AND   425411   287   316.2   318.0   1.8   16.71   ODM
NR10588   425686   301   326.5   340.0   13.5   1.19   17
NR10590   425391   473   542.0   555.5   13.5   1.96   ODM
INCL   425392   477   554.0   555.5   1.5   7.55   ODM
    425394   489   561.5   578.0   16.5   0.87   ODM
NR10591   425374   433   466.5   486.0   19.5   1.13   ODM
    425377   454   493.5   507.0   13.5   0.94   ODM
    425379   471   513.0   526.5   13.5   0.71   ODM
    425380   484   534.0   535.5   1.5   3.46   ODM
NR10592   425484   326   358.5   366.0   7.5   2.90   ODM
INCL   425483   323   358.5   360.0   1.5   8.73   ODM
    425485   347   385.3   387.0   1.7   3.30   ODM
NR10593   425611   267   302.5   305.5   3.0   1.53   ODM HW
    425618   318   353.0   373.0   20.0   0.77   ODM
    425625   375   418.0   439.0   21.0   0.93   ODM
NR10594   425589   233   264.5   266.0   1.5   3.03   ODM
    425590   242   275.0   276.5   1.5   3.85   ODM
    425592   256   287.0   297.5   10.5   1.49   ODM
    425597   296   326.0   350.0   24.0   2.80   ODM
INCL   425597   295   336.5   338.0   1.5   29.37   ODM
NR10596   425402   334   362.0   363.5   1.5   3.60   ODM HW
    425405   392   426.5   429.5   3.0   7.32   ODM
INCL   425405   392   428.0   429.5   1.5   11.78   ODM
    425407   421   449.0   476.0   27.0   6.37   ODM
INCL   425407   421   461.0   462.5   1.5   82.75   ODM
NR10597   425347   537   624.5   647.0   22.5   7.10   ODM
INCL   425346   531   626.0   627.0   1.0   10.31   ODM
AND   425347   537   633.5   635.0   1.5   9.49   ODM
AND   425347   539   637.0   637.5   0.5   159.29   ODM
AND   425348   544   642.5   644.0   1.5   6.80   ODM
NR10598   425549   331   363.5   372.5   9.0   1.26   ODM
    425555   372   413.0   420.5   7.5   2.10   ODM
INCL   425555   372   416.0   417.5   1.5   6.39   ODM
    425557   384   429.5   434.0   4.5   10.79   ODM
INCL   425557   383   429.5   431.0   1.5   28.59   ODM
    425558   395   444.5   446.0   1.5   3.18   ODM
    425562   420   474.5   476.0   1.5   4.63   HS
NR10600   425489   324   357.5   359.0   1.5   3.29   ODM
    425491   340   375.5   377.0   1.5   5.24   ODM
    425500   405   443.0   459.6   16.6   3.04   ODM
INCL   425499   399   443.0   444.5   1.5   7.96   ODM
AND   425500   403   447.5   449.0   1.5   8.79   ODM
AND   425500   408   453.5   455.0   1.5   6.41   ODM

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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