Keeping Up to Date With Our Neighbour (RR) NewsRainy River and Northern Superior Initiate Diamond Drilling at TPK With Support From Neskantaga First Nation
TORONTO, ONTARIO, Oct 25, 2010 (MARKETWIRE via COMTEX News Network) --
RainyRiver Resources Ltd. ("Rainy River") (TSX VENTURE: RR) and NorthernSuperior Resources Inc. ("Northern Superior") (TSX VENTURE: SUP)(together, the "Companies"), are pleased to announce that diamond coredrilling has commenced on their TPK Joint Venture project 190 kmnortheast of Pickle Lake in Northern Ontario. The drilling is proceedingwith the co-operation of Neskantaga First Nation ("Neskantaga") whichrecently passed a community resolution supporting the agreement betweenRainy River and Northern Superior and affirming their support for theTPK project.
The diamond drilling will test three of the fourgold targets previously identified by RC drilling and boulderprospecting (see September 15, 2010 joint news release). An initial 20holes totaling approximately 4000 metres (m) are planned for thepre-Christmas period. Additional drilling is anticipated for Februaryand March 2011, to test a lake-covered area on Target 2 as well as newtargets that are being developed by RC drilling. The RC drilling programhas been scheduled in a manner that respects and accommodatesNeskantaga traditional pursuits and practices and will resume in earlyNovember.
Target 3
The diamond drilling will initiallyfocus on Target 3, proceeding to Targets 1 and 2, and be refined asadditional RC drilling and boulder prospecting results are received.
Target3 encompasses a 400m long x 200m wide segment of a 5 km long shear zonethat splays west-northwest from the Stull-Wunnummin Fault, a major,gold-fertile structure that extends into Manitoba. RC drilling has shownthat the glacial till section immediately south of (glacially down-icefrom) the shear zone consistently averages 100 to 1000 gold grains per10 kg sample whereas till sampled 200m to the north (up-ice) containsnegligible gold. The gold grains are accompanied by abundantarsenopyrite, ranging to millions of grains per sample, which maycontain significant additional gold. The 1.5m bedrock interceptsimmediately beneath two of the four holes drilled on the southern edgeof the shear zone are mylonitized and returned gold assays of 0.3 to 0.4grams per tonne (g/t). Sheared, arsenopyrite-bearing boulders measuringup to 2m in diameter and grading up to 48 g/t gold are scattered alongthe central axis of the shear zone.
Commentary
"We areexcited to begin diamond drilling on the first substantial gold targetto be tested on the TPK property," commented Stu Averill, Vice-PresidentExploration, of Rainy River Resources. "Previous diamond drilling,prior to the RC drilling, was performed around minor gold showings inoutcrops that are 2 to 3 km apart and constitute less than 1 percent ofthe surface area of the property. The strong 7 x 7 kmgold-grains-in-till anomaly defined by our joint venture partner's earlysurface sampling and enhanced by our recent RC drilling and boulderprospecting, indicates the presence of several significant gold zones inthe broad areas between outcrops. We are very pleased that NeskantagaFirst Nation is involved in our initial testing of these targets andappreciate their continuing support for the TPK project."
Dr.T.F. Morris, President and CEO of Northern Superior stated: "Clearly weare excited about the initiation of this very important diamond drillprogram. These are very high quality gold exploration targets, developedfrom previous exploration programs and the recently completed reversecirculation and boulder prospecting programs. We are also very pleasedat the continued support of Neskantaga First Nation and look forward tocontinuing our work and engagement with this Community as the programadvances."
Qualified persons
Rainy River is the Operatorof the TPK Joint Venture and the current exploration program is beingsupervised by Stuart Averill, P.Geo. Vice-President Exploration, aQualified Person as defined by National Instrument 43-101. Mr. Averillis the person responsible for the content of this news release. TheCompany continues to implement a rigorous QA/QC program to ensure bestpractices in sampling and analysis of till and drill core. Theprocedures of the QA/QC program are detailed on Rainy River's website at www.rainyriverresources.com.
About Rainy River
RainyRiver is a Canadian precious metals exploration company, the key assetof which is the Rainy River Gold Project. With approximately $75 millionin its treasury, the Company is well funded to conduct a dual-focuseddrilling program consisting of: 1) definition diamond drilling of themain gold resources in preparation for scoping and prefeasibilitystudies, and 2) selective diamond drill testing of high-priority goldtargets defined primarily by RC drilling within the large gold systemcentered in Richardson Township. The Company's property is extremelywell located in the southwestern corner of Northern Ontario near theU.S. border. It is accessed by a network of roads and is close tohydro-electric infrastructure. The Rainy River district has a skilledlabour force and is one of the lowest-cost areas for mineral explorationand development. Ontario has low political risk relative to othermining jurisdictions and according to the annual Fraser Institute globalsurvey of the mining industry, Ontario has consistently ranked as oneof the top jurisdictions to embrace mineral development.
About Northern Superior Resources Inc.
NorthernSuperior Resources Inc. is a junior exploration company focused onexploring for gold in the Superior Province of the Canadian Shield. TheCompany currently has three high active, high quality gold explorationprojects in Ontario and Quebec - TPK, Thorne Lake and Wachigabau (seeCompany web site, www.superior.com).These projects were all developed from the Company's extensivegeoscientific data base. Additional gold exploration projects includingseven more early stage gold exploration projects (Rapson Bay, MestonLake, Lespinay, Lac Surprise, Hazeur, Chibougamou River and Lemarck) arecurrently being developed from this data base. Northern Superior is areporting issuer in British Columbia, Alberta, Ontario and Quebec, andtrades on the TSX Venture Exchange under the symbol SUP.
Forwardlooking statements: This news release includes certain "forward-lookinginformation" within the meaning of Canadian securities legislation and"forward-looking statements" within the meaning of the United StatesPrivate Securities Litigation Reform Act or 1995 (collectively, "forwardlooking statements"). Forward looking statements include predictions,projections and forecasts and are often, but not always, identified bythe 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 orother similar expressions and includes the negatives thereof. Allstatements other than statements of historical fact included in thisrelease, including, without limitation, statements regarding potentialmineralization, exploration results, interpretation of results, thetiming and success of exploration activities generally, the timing andresults of future resource estimates, and future plans and objectives ofNorthern Superior or Rainy River are forward-looking statements thatinvolve various risks and uncertainties. There can be no assurance thatsuch statements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements. Forward looking statements are based on a number of materialfactors and assumptions. Important factors that could cause actualresults to differ materially from Northern Superior's or Rainy River'sexpectations include exploration risks, changes in project parameters asplans continue to be refined, results of future resources estimates,future metal prices, availability of capital and financing on acceptableterms, general economic, market or business conditions, uninsuredrisks, regulatory changes, defects in title, availability of personnel,materials and equipment on a timely basis, accidents or equipmentbreakdowns, delays in receiving government approvals, unanticipatedenvironmental impacts on operations and costs to remedy same, and otherexploration or other risks detailed herein and from time to time in thefilings made by the Company with securities regulators. Although theCompany has attempted to identify important factors that could causeactual actions, events or results to differ from those described inforward looking statements, there may be other factors that cause suchactions, events or results to differ materially from those anticipated.There can be no assurance that forward looking statements will prove tobe accurate and accordingly readers are cautioned not to place unduereliance on forward looking statements.
Neither the TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy of this release.
Contacts:
Rainy River Resources Ltd.
Raymond Threlkeld
President and CEO
(647) 476-5407
(416) 642-9312 (FAX)
lcaridi@rainyriverresources.com
www.rainyriverresources.com
Northern Superior Resources Inc.
Thomas F. Morris
President and CEO
(705) 525-0992
(705) 525-7701 (FAX)
info@nsuperior.ca
www.nsuperior.com
SOURCE: Rainy River Resources Ltd. and Northern Superior Resources Inc.
mailto:lcaridi@rainyriverresources.com https://www.rainyriverresources.com mailto:info@nsuperior.ca https://www.nsuperior.com
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