Rainy River and Northern Superior Report RC Drilling Progress and High-Grade Boulder Discoveries at TPK
15 Settembre 2010 - 2:30PM
Marketwired Canada
Rainy River Resources Ltd. (TSX VENTURE:RR) ("Rainy River") and Northern
Superior Resources Inc. (TSX VENTURE:SUP) ("Northern Superior") (together, the
"Companies") are pleased to announce the following progress on their TPK Joint
Venture project 190 km northeast of Pickle Lake in Northern Ontario.
Highlights:
-- Boulder prospecting yields numerous large mineralized boulders including
two grading 42 g/t gold and 48 g/t gold
-- 76 of 99 reverse circulation drill holes completed to define gold-in-
till anomalies
-- Prospecting indicates system may be a set of shear zones, similar to the
Larder Lake-Cadillac Break (Val d'Or - Malartic districts)
RC Drilling
The TPK property is almost devoid of bedrock outcrop. Consequently, till
sampling by reverse circulation (RC) drilling is required to identify the
locations of the individual gold zones responsible for the strong, 7 x 7
kilometre gold grain anomaly previously identified by Northern Superior's
surface till sampling (see www.nsuperior.com). A 99-hole Phase 2 RC drilling
program is currently underway. This program is designed to: (a) infill at 100 to
200 m spacing the four strong gold + arsenopyrite anomalies identified in
Northern Superior's preliminary winter RC drilling campaign on the northeastern
half of the surface gold grain anomaly (see Northern Superior's June 15, 2010
news release); and (2) assess the undrilled southwestern half of the surface
anomaly.
To date, 76 of the 99 planned holes have been completed. Detailed gold grain
counts and assay-ready heavy mineral concentrates containing both the gold
grains and sulphide-associated gold are being prepared from the till samples at
the Ottawa laboratory of the Project Manager, Overburden Drilling Management
Limited ("ODM"). Follow-up diamond drilling is planned for early October.
Boulder Prospecting
Preliminary prospecting on 2 of 3 targets from Northern Superior's initial RC
drilling program has yielded numerous sheared, altered and mineralized boulders
up to 2 metres in size.
Target 2 appears to be associated with a 0.7 x 3 kilometre, high-level porphyry
stock at the contact between metasediments and a quartz monzonite batholith. The
contact area has a steep metamorphic gradient similar to that found at the
Eleonore gold deposit in Quebec. The porphyry is siliceous, extensively
fractured and contains fluorite and spessartine garnet alteration. Three days of
prospecting produced 41 visually interesting boulders, of which 33 (80%) were
found to be anomalous in gold. Fourteen boulders (34%) yielded greater than 0.3
g/t gold and one measuring 1.0 metres yielded 42 g/t.
Target 3 is associated with a 200 metre wide shear zone in the quartz monzonite
batholith. The initial boulder prospecting yielded 12 visually interesting
boulders of which 11 (92 percent) yielded anomalous gold assays. Six boulders
(50%) yielded greater than 2 g/t gold and one measuring 1.5 metres yielded 48
g/t.
Due to the very positive results of the preliminary boulder sampling, a
professional prospecting team has been contracted to conduct a broader and more
intensive boulder search. New sheared, altered and mineralized boulders are
being located daily and many additional samples have been submitted for assay.
Exploration Model
The TPK gold-in-till anomaly occurs immediately adjacent to a major, potentially
shear-spreading bend in the regional-scale Stull-Wunnummin Fault. This setting,
in combination with the extensive shear deformation observed in the porphyry and
quartz monzonite, suggests the presence of an array of gold-bearing splay shears
similar to those associated with the major bend in the Larder Lake-Cadillac
Fault in the Malartic-Val d'Or gold district where the main gold deposits,
including West Malartic (Osisko), Camflo, Goldex and Sigma, are closely
associated with sheared porphyries. In addition, the strong correlation between
gold and arsenic at TPK closely matches that at Eleonore, Casa Berardi, Hemlo,
Musselwhite and many other gold deposits in the Canadian Shield.
Commentary
"The initial prospecting results and further definition of the gold-in-till
anomalies are encouraging and merit additional exploration activity," commented
Raymond Threlkeld, President and CEO of Rainy River Resources. "We are anxious
to begin core drilling which is the next phase of exploration on this highly
prospective project."
Dr. T.F. Morris, President and CEO of Northern Superior states: "The positive
results from this phase of boulder prospecting continues to support our
assertion regarding the tremendous potential of the TPK project for significant
gold mineralization over a large area. The distribution of boulders with
anomalous gold assays, coupled with results from the current phase of
prospecting and reverse circulation drilling, will greatly refine drill target
selection to better direct and maximize efficiencies for our diamond drill
program slated to commence in October."
Qualified persons
Rainy River is the Operator of the TPK Joint Venture and the current exploration
program is being supervised by Stuart Averill, P.Geo. Vice-President
Exploration, a Qualified Person as defined by National Instrument 43-101. Mr.
Averill 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 till and drill core. The procedures of the QA/QC
program are detailed on Rainy River's website at www.rainyriverresources.com.
About Rainy River Resources Ltd.
Rainy River is a Canadian precious metals exploration company, the key asset of
which is the Rainy River Gold Project. With over approximately $77.0 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 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. Ontario has low political risk relative to other mining
jurisdictions and according to the annual Fraser Institute global survey of the
mining industry, Ontario has consistently ranked as one of the top jurisdictions
to embrace mineral development.
About Northern Superior Resources Inc.
Northern Superior Resources Inc. is a junior exploration company focused on
exploring for gold in the Superior Province of the Canadian Shield. The Company
currently has three high active, high quality gold exploration projects in
Ontario and Quebec - TPK, Thorne Lake and Wachigabau (see Company web site,
www.superior.com). These projects, and three more early stage gold exploration
projects (Rapson Bay, Meston Lake and Lespinay), were all developed from the
Company's extensive geoscientific data base. Additional gold exploration
projects are currently being developed from this data base. In addition to
optioning out the TPK property, the Company is currently looking to option-out
its other 100% owned Rapson Bay, Meston Lake and Lespinay gold projects.
Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario
and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.
Forward looking statements: This news release includes certain "forward-looking
information" within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act or 1995 (collectively, "forward looking
statements"). Forward looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", "budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved or other similar expressions and includes the negatives
thereof. All statements other than statements of historical fact included in
this release, including, without limitation, statements regarding potential
mineralization, exploration results, interpretation of results, the timing and
success of exploration activities generally, the timing and results of future
resource estimates, and future plans and objectives of Northern Superior or
Rainy River are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Forward looking statements are based on a number
of material factors and assumptions. Important factors that could cause actual
results to differ materially from Northern Superior's or Rainy River's
expectations include exploration risks, changes in project parameters as plans
continue to be refined, results of future resources estimates, future metal
prices, availability of capital and financing on acceptable terms, general
economic, market or business conditions, uninsured risks, regulatory changes,
defects in title, availability of personnel, materials and equipment on a timely
basis, accidents or equipment breakdowns, delays in receiving government
approvals, unanticipated environmental impacts on operations and costs to remedy
same, and other exploration or other risks detailed herein and from time to time
in the filings made by the Company with securities regulators. Although the
Company has attempted to identify important factors that could cause actual
actions, events or results to differ from those described in forward looking
statements, there may be other factors that cause such actions, events or
results to differ materially from those anticipated. There can be no assurance
that forward looking statements will prove to be accurate and accordingly
readers are cautioned not to place undue reliance on forward looking statements.
Table 1: Summary of Results
RC Target 2 RC Target 3
Boulder Number Au (g/t) Boulder Number Au (g/t)
---------------------------------- ----------------------------------
PT2 B001 0.099 PT3 B001 less than 0.005
PT2 B002 0.006 PT3 B002 2.92
PT2 B003 less than 0.005 PT3 B003 48.5
PT2 B004 0.116 PT3 B004 2.08
PT2 B005 40.8 PT3 B005 3.03
PT2 B006 0.202 PT3 B006 8.44
PT2 B007 0.031 PT3 B007 12.85
PT2 B008 0.006 PT3 B008 0.011
PT2 B009 0.349 PT3 B009 0.013
PT2 B010 0.869 PT3 B010 0.911
PT2 B011 0.171 PT3 B011 0.524
PT2 B012 0.146 PT3 B012 0.019
PT2 B013 0.636
PT2 B014 0.094
PT2 B015 0.761
PT2 B016 0.009
PT2 B017 2.56
PT2 B018 0.005
PT2 B019 0.01
PT2 B020 0.372
PT2 B021 0.339
PT2 B022 less than 0.005
PT2 B023 less than 0.005
PT2 B024 0.033
PT2 B025 0.044
PT2 B026 less than 0.005
PT2 B027 less than 0.005
PT2 B028 0.033
PT2 B029 1.77
PT2 B030 0.446
PT2 B031 1.595
PT2 B032 0.273
PT2 B033 0.048
PT2 B034 0.031
PT2 B035 1.92
PT2 B036 0.542
PT2 B037 0.769
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