Second company pleased with gold discoveries

Seventeen holes were drilled by Rainy River Resources this past fall at its project in Richardson Township, about 80 km south of Kenora.
And several holes reported high-grade native gold.
“It could be a potential gold camp,” noted Brad Baker, the company’s investor relations manager, though adding the work still is in early stages.
Three individual core samples were discovered from holes NR05-03 and NR05-04, containing “course visible gold in association with pyrite-sphalerite and lesser chalcopyrite suphide veinlets concentrated along late fractures,” the company’s most recent press release stated.
One of the three samples was reported to contain more than 1,000 g/t Au.
The Vancouver-based company originally planned to drill only 15 holes but due to the great success recorded from those, two additional ones were drilled to “test the down-plunge extension of the strong gold interval intersected in hole NR05-05,” which showed 69.95 m grading 2.21 g/t Au.
The press release also noted “due to the course nature of the gold, several samples were subjected to total metallics analysis and a further ‘gold concentrate’ analysis will be conducted on the highest grade sample.”
The results from the final two holes were announced last week, showing an intersection of 1.58 g/t Au over more than 28 m and 2.84 g/t Au over more than 29 m.
These additional two holes were “designed to trace the down-plunge extent of the higher-grade gold mineralized zone . . . in the number 17 zone deposit.”
“We’re quite pleased with the continuity of the gold mineralization,” Baker remarked during an interview last week. “And new drilling is expected to start this week.
“Two drills will be working non-stop from the next couple of months,” he added.
Company president Nelson W. Baker said “one drill rig will focus on defining a higher grade NI 43-101 gold resource in the number 17 zone.
“And a second rig will systematically explore the newly-discovered Beaver Pond, West and the number 433 Extension areas in addition to testing for other potential gold zones along this highly-prospective greenstone belt,” he added.
The 15,000 m drill program is under the supervision of Clark Exploration Consulting Inc. of Thunder Bay and Caracle Creek International Consulting Inc. from Sudbury.
Rainy River Resources also will conduct an airborne magnetic and electromagnetic survey this month to record conductive mineral bodies.
“The area was worked in the past by another company,” Brad Baker explained. “But a lot of work we’ve done has been from a different view.”
He hopes they will prove before June that what they’ve been working on is mineable. Then they will look to develop other areas which have not yet been discovered.
“Clearly the potential for defining a commercial grade gold deposit . . . is considered to be above average,” Nelson Baker stated in last week’s press release.