VANCOUVER, BRITISH COLUMBIA--(Marketwire -
Jan. 27, 2009) - Nelson W. Baker, President and CEO of Rainy River
Resources Ltd. (TSX VENTURE:RR), is pleased to report the final results
for six drill holes completed as part of the 2008 drilling program
prior to the holiday period, all in the main gold resource area on the
Company's 100%-owned Richardson Township property approximately 55 km
northwest of Fort Frances, Ontario. Four of the holes (NR08-262, 265,
277 and 309) were designed to infill the 17/ODM, HS and 433 Zones above
the 400 m level. The remaining two holes (NR08-272 and 275), collared
200 m apart, were designed to test the down-plunge extension, below the
500 m level, of high-grade gold mineralization previously identified in
the ODM Zone. The four infill holes confirm the excellent continuity of
the gold mineralization within the three parallel, stacked mineralized
horizons that host the 17/ODM, HS and 433 Zones. The two deeper holes
confirm that high-grade values over widths typical of those mined by
underground methods elsewhere extend down-plunge well below potential
open pit limits (up to 350 m) within the main resource area. The
high-grade gold mineralization intersected in the deep holes is open
laterally and to depth.
Details of the best mineralized intervals from the six holes are
highlighted in Table I below and the hole locations will be posted on
the Company's website www.rainyriverresources.com.
Table I SUMMARY OF MAIN INTERSECTIONS 17/ODM, HS, 433 ZONES (INFILL) --------------------------------------------------------------------- From To Core Length Au Vertical Depth Hole (m) (m) (m) g/t Zone (m) --------------------------------------------------------------------- NR08-262 278.00 290.00 12.00 11.10 ODM 225 --------------------------------------------------------------------- 380.00 383.00 3.00 5.59 HS 300 --------------------------------------------------------------------- --------------------------------------------------------------------- NR08-265 336.00 339.00 3.00 8.21 HS 250 --------------------------------------------------------------------- --------------------------------------------------------------------- NR08-277 231.00 238.50 7.50 6.25 ODM WEST 160 --------------------------------------------------------------------- Including 234.00 237.00 3.00 13.85 ODM WEST 160 --------------------------------------------------------------------- NR08-309 521.00 524.00 3.00 29.04 HS 400 --------------------------------------------------------------------- ODM ZONE (DOWN-PLUNGE) --------------------------------------------------------------------- NR08-272 716.50 719.50 3.00 18.63 ODM ZONE 550 --------------------------------------------------------------------- NR08-275 545.00 555.50 10.50 4.18 1(st) INTERVAL 440 --------------------------------------------------------------------- Including 545.00 548.00 3.00 8.79 --------------------------------------------------------------------- 630.50 636.50 6.00 8.64 2(nd) INTERVAL 510 --------------------------------------------------------------------- Note: The interval widths quoted above are considered to be close to true width and all gold grade intervals listed above in Table I are uncut.
Rainy
River's exploration program is being managed by Project Manager, Wally
Rayner, P. Geo., a Qualified Person within the meaning of NI 43-101.
The Company's regional exploration manager, C.J. Baker, M.Sc., is
responsible for the supervision of all aspects of the Off Lake drill
program. Nelson W. Baker, P.Eng., is the Qualified Person for the
project and the person responsible for the contents of this news
release. The Company continues to implement a rigorous QA/QC program to
ensure best practices in sampling and analysis of 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 Resources is a Canadian precious metals exploration company
whose key asset is the Rainy River gold project. With $27 million in
its treasury, the Company is well funded to continue an aggressive
dual-focused program of definition diamond drilling of the main gold
resource area with accompanying scoping-style studies and selective
diamond drill testing of neighbouring high-priority gold targets. These
targets, defined primarily by RC drilling, occur within one of Canada's
largest gold systems, a caldera centered in Richardson Township,
approximately 55 kilometres northwest of Fort Frances, Ontario. The
Company's property is extremely well located in western 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 and,
according to the annual Fraser Institute global survey of the mining
industry, has consistently ranked as one of the top jurisdictions
embracing mineral development.
Nelson W. Baker, President
This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially
from those in the forward-looking statements. The Company undertakes no
obligation to update these forward-looking statements if management's
beliefs, estimates or opinions, or other factors, should change.
Factors that could cause actual results to differ materially from those
in forward-looking statements include market prices, exploration and
development successes, continued availability of capital and financing,
and general economic, market or business conditions. Please see the
public filings of the Company at www.sedar.com for further information.
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this news release.
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