RAINY DISCOVERS NEW GOLD ZONE IN STEP-OUT DRILL HOLE
posted on
Oct 15, 2007 10:36PM
Skyharbour Resources Ltd. is a uranium and precious metal exploration company actively involved with the development of projects in one of the most active uranium exploration regions in the world, the Athabasca Basin, Saskatchewan.
Rainy River Resources Ltd. (RR.TSX-V), a well-funded, experienced mineral exploration company with particular expertise in exploring for "blind" deposits in till-covered terrain, has discovered what appears to be a seventh gold zone in Richardson Township on Rainy’s property 80 kilometres south of Kenora, Ontario. NR07-189, a 511-metre hole, was drilled to follow up an isolated, historical gold intersection in hole NR95-35 drilled by Nuinsco in 1995. Re-examination of the archived core showed that the Nuinsco intersection, 3.58 metres grading 21.83 g/t Au, occurs within a highly deformed, pyrite-bearing crystal tuff with a strong fragmental texture. Hole NR07-189 intersected 61.5 metres of similarly deformed crystal tuff grading 1.77 g/t Au and carrying sections of semi-massive sulphides consisting of pyrite, sphalerite and chalcopyrite in randomly oriented seams and veinlets. Within this 61.5 metre mineralized interval, a 9.0-metre section graded 6.64 g/t Au.
The high pyrite content and strongly fragmental host rock distinguish the new zone from the 17 Zone and the new zone also appears to occur at a higher stratigraphic level (further south). As well, it lies nearly 500 metre beyond (east of) the 6 square kilometre area within which the subcropping bedrock surface beneath the till is anomalous in gold whereas the other six zones are all inside the anomalous area. Nelson W. Baker, President, commented that, "the discovery of this new gold zone at depth in an area previously considered to be unprospective clearly enhances the potential to significantly increase gold resources on the property."
In addition, this release provides the final results for holes NR07-184 and NR07-187, both successfully targeting the down plunge extension of the 17 Zone/ODM gold zones at about the 350 metre level. NR07-184 intersected three separate gold intervals with the widest being 7.5 metres grading 2.33 g/t Au. NR07-187, in the central part of the 17 Zone intersected 9.0 metres grading 4.42 g/t Au within a broader interval of 58.5 metres grading 1.24 g/t Au.
The details of all intervals for the three diamond drill holes are highlighted in Table I and an updated location plan will be posted on the Company’s website www.rainyriverresources.com shortly. More than ten other holes have been completed and the core has been submitted to the lab for analysis. The Company anticipates more frequent drill results going forward.
The Quality Assurance and Quality Control (QA/QC) procedures followed by the Rainy River technical team is described in detail on its website at http://www.rainyriverresources.com/s/QualityControl.asp.
Nelson W. Baker, P. Eng., is the Qualified Person for the Rainy River Project and the person responsible for the contents of this news release.