Rainy River Resources Ltd RR:CA announced results from its Rainy River Gold Project in northwestern Ontario. Assays include 0.75 g/t gold over 49.8 metres, 1.47 g/t gold over 57 metres (including 22.02 g/t over 1.5 metres), 1.53 g/t over 10.5 metres, 6.38 g/t over 13.9 metres (including 29.98 g/t over 1.5 metres), 1.07 g/t over 24 metres, 1.1 g/t over 22.5 metres, 29.97 g/t over 4.5 metres (including 54.78 g/t over 1.5 metres) and 9.33 g/t over 13.5 metres (including 70.23 g/t over 1.5 metres).
President/CEO Raymond Threlkeld commented, “Results from the infill program are very encouraging and, while adding a great deal of new information for the next NI 43-101 resource update, the infill program has also demonstrated the enormous potential for further discoveries of volcanogenic gold and VMS deposits. Based on the success of the 2010 exploration program, the Company has approved a $57 million budget for 2011 that includes over 100,000 metres of infill and regional diamond drilling, initiating an underground exploration program and moving all relevant engineering and environmental studies to the feasibility level. We will also be conducting an aggressive exploration program at the TPK joint venture project, with 11,000 metres of drilling planned to follow-up on the recent high-grade gold discovery.”
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Director, Investor Relations
by Ted Niles