Sunday 23rd October 2016

Resource Clips

Rainy River reports Ontario Gold Assays as high as 352.8 g/t over 6m

Rainy River Resources Ltd TSXV:RR announced assays from its Rainy River Gold Project in northwestern Ontario. Results include 4.6 g/t gold over 13.5 metres, 5 g/t gold over 4.5 metres, 11.8 g/t gold over 9 metres (including 67.2 g/t gold over 1.5 metres), 352.8 g/t gold over 6 metres, 7.1 g/t gold and 23 g/t silver over 9 metres, 24.1 g/t gold and 74 g/t silver over 1.5 metres, and 91.8 g/t gold over 1.5 metres.

President/CEO Raymond Threlkeld said, “Over the last year the company has enjoyed significant discovery success with the infill drill program and more recently, with the step-out regional exploration drill program to the west and in the deep 17 East Extension Zone. Consequently, we have decided to intensify our exploration program by adding 4 drill rigs in the coming weeks, which will increase our total number of rigs to 10. The current plan is to conduct approximately 170,000 metres of drilling in 2011. The revised exploration program will dedicate 60% of the drilling towards regional exploration, 20% to define potential underground resources and 20% for further infill. We are continuing with pit optimization and drilling to convert inferred resources into indicated mineralization, to define a potential pit bottom and ultimately focus infill drilling on expanding the underground potential at depth. We are currently preparing a scoping study based on our current resource estimate which includes defining an optimized pit shell. As a result of the potential for an open pit to extend below the planned advanced exploration development ramp access, we will be re-evaluating the program. In the meantime, we are continuing with the permitting process, which is in its final stages of completion according to plan. We plan to defer the decision to proceed with the advanced exploration ramp until we have concluded this study.”

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Liz Caridi
Director, Investor Relations

by Ted Niles

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