Rainy River Resources Ltd. ("Rainy River") (TSX VENTURE: RR) and
Northern Superior Resources Inc. ("Northern Superior") (TSX
VENTURE: SUP) (together, the "Companies") are pleased to announce
the discovery of significant gold bearing mineralization
intersected during the Companies initial diamond drilling program
on Target 3 of their TPK Joint Venture project, 190 km northeast of
Pickle Lake in Northern Ontario. The diamond drilling is being
conducted with the cooperation of Neskantaga First Nation
("Neskantaga"), which recently passed a community resolution
supporting the agreement between Rainy River and Northern Superior,
and affirming their support for the TPK project.
HIGHLIGHTS
-- Coarse-grained visible gold was noted in drill hole TPK-10-004
-- TPK-10-004 returns 25.9 g/t Au over 13.5 metres from 149.3 - 162.8
metres
-- incl. 46.0 g/t Au over 0.5 metres from 153.0 - 153.5 metres
-- incl. 139.4 g/t Au over 1.7 metres from 156.8 - 158.5 metres
-- incl. 749.0 g/t Au over 0.3 metres from 157.2 - 157.5 metres
-- and 127.0 g/t Au over 0.7 metres from 162.0 - 162.7 metres
-- The high-grade shear zone intersected in TPK-10-004 is open both along
strike and down dip
-- TPK-10-005 intersects 3.8 g/t gold over 1.2 metres from 49.6 metres -
50.8 metres
To view the maps accompanying this press release please click on
the following link:
http://media3.marketwire.com/docs/RR1213.pdf
2010 Diamond Drilling Program - Target 3
To date, ten holes totaling 1,945.0 metres have been drilled on
Target 3, with one hole abandoned due to bad ground conditions.
Final assays have been received for seven of the nine completed
holes, and assays for the two remaining holes on Target 3 will be
available in the new year. All reported holes have intersected
variably mineralized shears in quartz monzonite, containing
disseminated pyrite, arsenopyrite and / or coarse grained visible
gold. Shear thicknesses are variable, ranging from 0.1 metres -
13.5 metres. Shear orientations and true thicknesses are not
readily apparent, and will be determined by follow up drilling,
however the high-grade shear zone intersected in TPK-10-004 is open
both along strike and down dip.
Target 3 encompasses a 400 metre-long by 200 metre-wide segment
of a 5 km long shear zone that splays west-northwest from the
Stull-Wunnummin Fault, a major, gold-fertile structure that extends
into Manitoba. Reverse circulation (RC) drilling has shown that the
glacial till section immediately south of and glacially down-ice
from the shear corridor consistently averages 100 to 1000 gold
grains per 10 kg sample whereas till sampled 200 metres to the
north (up-ice) contains negligible gold. The gold grains are
accompanied by abundant arsenopyrite, ranging up to millions of
grains per sample, which may contain significant additional gold.
The 1.5 metre bedrock intercepts immediately beneath the till, in
two of the four holes drilled on the southern edge of the shear
corridor, are mylonitized and returned gold assays of 0.3 to 0.4
g/t. Sheared, arsenopyrite-bearing boulders measuring up to 2
metres in diameter and grading up to 94.2 g/t gold are scattered
along the central axis of the shear corridor. Significant gold
diamond-drill intercepts to date (TPK-10-004) are associated
dominantly with disseminated pyrite-bearing mineralization.
Arsenopyrite-rich mineralization, similar to that observed in most
of the high-grade surface boulders, has not yet been encountered in
drill core.
2010 Diamond Drilling Program - Target 2
The diamond drill has already moved to Target 2 to obtain a
preliminary test of this partially lake-covered target prior to
winter drilling from the ice. It is anticipated that two diamond
drill holes will be completed prior to demobilization for the
Christmas break on the 18th of December.
Target 2 is the largest of four diamond drill targets identified
by RC drilling. It is defined by a distinct gold grain in-till
anomaly that outlines a dispersion train of at least 3 kilometers
trending in a NE-SW direction. The till anomaly is also associated
with anomalous arsenic and zinc, and overlies a broad shear
fractured leucogranite of the "contact stock". The leucogranite
contains both spessartine garnet and fluorite alteration.
Prospecting during the autumn produced 41 mineralized boulders, of
which 33 boulders (or 80%) were found to be anomalous in gold. Five
of the boulders yielded assays between 5-10 g/t gold, while one
boulder yielded an assay of 42 g/t gold.
Geophysical program initiated
In an effort to aid targeting for the 2011 winter diamond drill
program, Abitibi Geophysics of Val-D'Or, Quebec, has been mobilized
to TPK to carry out an 80 line-kilometre Induced Polarization (IP)
/ Resistivity Geophysical Survey. This survey will cover diamond
drill Targets 1-4, with a 100-metre line spacing.
Line cutting crews have also been mobilized to site, to expand
the current grid in order to facilitate the ground geophysical
survey. Neskantaga crews are assisting in grid re-establishment. IP
and line-cutting will break for Christmas, and resume in the first
week of January, 2011.
2011 Winter Diamond Drill Program
Diamond drilling crews are scheduled to re-mobilize to site on
January 17th, 2011. Diamond drilling will continue to test targets
previously identified by RC drilling and boulder prospecting (as
announced in a joint news release on September 15, 2010). The
projected drilling will also continue to test Target 3 for
extensions to the newly discovered gold zone, as well as new
targets that are being developed by RC drilling and the IP
geophysical surveys.
Commentary
"We are very excited about the high grade discovery at TPK,"
commented Raymond Threlkeld, President & CEO of Rainy River.
"The discovery hole is open along strike and at depth, and is just
part of what we view as a very large gold mineralized system. We
will be aggressively exploring the extensions of the discovery and
the larger target areas with our partners, Northern Superior
Resources and Neskantaga First Nation, and are proud that they are
involved in this exciting project."
Dr. Thomas Morris, President and CEO of Northern Superior,
stated: "Obviously, Northern Superior Resources is extremely
pleased to see results that just begin to validate our belief in
the presence of significant gold mineralization on the TPK
property, bearing in mind of course that the mineralization being
reported here, at a depth of 149 metres, does not explain the
exceptional and extensive surface distribution of the gold
grain-in-till dispersal apron and mineralized boulders previously
reported." Northern Superior is thrilled at the potential that
these results indicate and are so looking forward to the future
exploration on this property with Rainy River and Neskantaga First
Nation."
Qualified persons
Rainy River is the operator of the TPK Joint Venture and the
current exploration program is being supervised by Kerry Sparkes,
P.Geo. Vice-President Exploration, a Qualified Person as defined by
National Instrument 43-101. Mr. Sparkes is the person responsible
for the content of this news release. Rainy River has implemented a
rigorous QA/QC program to ensure best practices in sampling and
analysis of drill core. All drill core is marked for sampling and
then split in half with a diamond saw blade. Samples are placed in
sealed bags with security tags. All samples were assayed using a
standard fire assay, 30 gram nominal sample weight with an AA
finish. Over-limit samples were re-assayed with a gravimetric
finish. Samples with visible gold were automatically analyzed for
Ore Grade by 1000g screen fire assay, with coarse and fine
fractions being combined proportionately and the fine fraction
being assayed twice. Standards, blanks and duplicates are inserted
every 25 metres. ALS Canada Ltd. performed primary assaying, with
duplicates being analyzed at Activation Laboratories Ltd. ALS
Canada Ltd. and Activation Laboratories Ltd. implements independent
QA/QC protocols that include the insertion of certified blanks and
standards as part of their routine analysis.
About Rainy River
Rainy River is a Canadian precious metals exploration company,
whose key asset is the Rainy River Gold Project. With approximately
$69 million in its treasury, Rainy River is well funded to conduct
advanced exploration in preparation for Scoping and feasibility
studies. Rainy River's property is extremely well located in the
southwestern corner of Northern Ontario, near the U.S. border. 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 and diamonds in the Superior Province
of the Canadian Shield. Northern Superior currently has three
active, high quality gold exploration projects in Ontario and
Quebec - TPK, Thorne Lake and Wachigabau (see Company web site,
www.nsuperior.com). These projects and seven more early stage gold
exploration projects are based on the same type of geoscientic data
as TPK (New Growth (Northwest part of the TPK Property), Rapson
Bay, Meston Lake, Lespinay, Lac Surprise, Hazeur, Chibougamou River
and Lemark). Northern Superior is a reporting issuer in British
Columbia, Alberta, Ontario and Quebec, and trades on the TSX
Venture Exchange under the symbol SUP.
Table 1: Summary of Results
----------------------------------------------------------------------------
Vertical Core
Depth From To Length Au Au
Hole - ID Section (m) (m) (m) (m) g/t oz/t
----------------------------------------------------------------------------
TPK-10-001 TRACE TRACE
----------------------------------------------------------------------------
TPK-10-002 ABANDONED
----------------------------------------------------------------------------
TPK-10-002A TRACE TRACE
----------------------------------------------------------------------------
TPK-10-003 5813409 55 68.0 68.4 0.4 1.76 0.05
5813416 65 80.7 81.1 0.4 0.91 0.03
----------------------------------------------------------------------------
TPK-10-004 5813389 59 61.3 64.0 2.7 0.91 0.03
5813396 77 81.9 82.4 0.5 0.93 0.03
5813397 79 83.9 84.5 0.6 0.79 0.02
5813401 89 94.3 94.6 0.3 0.85 0.02
5813406 103 109.2 109.5 0.3 0.80 0.02
5813407 107 113.4 114.4 1.0 1.15 0.03
5813422 146 149.3 162.8 13.5 25.87 0.75
INCL 5813421 143 152.0 154.0 2.0 12.29 0.36
INCL 5813421 144 153.0 153.5 0.5 46.00 1.34
AND 5813423 148 156.8 158.5 1.7 139.37 4.07
INCL 5813423 147 157.2 157.5 0.3 749.00 21.85
AND 5813425 152 162.0 162.7 0.7 127.00 3.70
5813449 219 233.8 234.3 0.5 2.05 0.06
5813451 222 237.0 237.5 0.5 5.47 0.16
----------------------------------------------------------------------------
TPK-10-005 5813548 35 45.0 45.3 0.3 4.08 0.12
5813544 39 49.6 50.8 1.2 3.82 0.11
5813481 119 153.6 154.0 0.4 0.68 0.02
5813472 130 168.1 168.4 0.3 2.27 0.07
----------------------------------------------------------------------------
TPK-10-006 5813467 8 10.6 11.1 0.5 1.05 0.03
5813483 27 35.6 35.9 0.3 2.00 0.06
----------------------------------------------------------------------------
TPK-10-007 5813508 11 13.8 14.1 0.3 1.53 0.04
----------------------------------------------------------------------------
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the 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
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