Rainy River Resources Ltd. ("Rainy River") (TSX VENTURE: RR) and
Northern Superior Resources Inc. ("Northern Superior") (TSX
VENTURE: SUP) (together, the "Companies"), announce final assay
results from the 2010 Phase I diamond drill program and the
commencement of their 2011 diamond drilling and geophysical
exploration program. Three thousand meters of diamond drilling is
planned prior to the spring breakup. The TPK Joint Venture project
is located 190 km northeast of Pickle Lake in Northern Ontario. The
diamond drilling is being conducted with the cooperation of
Neskantaga First Nation ("Neskantaga").
HIGHLIGHTS
- TPK-10-009 returns 6.9 g/t Au over 0.8 metres from 68.7 - 69.5 metres
- TPK-10-010 returns 1.8 g/t Au over 2.5 metres from 100.3 - 102.8 metres
Incl. 5.1 g/t Au over 0.5 metres from 100.8 - 101.3 metres
- TPK-10-011 intersects 1.0 g/t Au over 2.4 metres from 66.8 metres - 69.2
metres
and 1.5 g/t Au over 1.5 metres from 82.5 - 84.0 metres
and 1.6 g/t Au over 1.4 metres from 85.6 - 87.0 metres
2010 Diamond Drilling Program - Target 3
To date 10 holes totaling 1,945.0 metres have been drilled on
Target 3, with one hole abandoned due to bad ground conditions.
Final assays have now been received for the 2 remaining holes on
Target 3. TPK-10-008 and 009 were drilled from the same setup
approximately 450 metres NW of the discovery hole TPK-10-004. These
two holes were designed to test an area up-ice of a strong
coincident gold/arsenopyrite reverse circulation till anomaly.
Several discrete arsenopyrite/pyrite bearing sericitized shears
were intersected throughout the hole with the best assay being
returned from TPK-10-009 - 6.9 g/t Au over 0.8 metres. The type of
mineralization seen within the core appears to match the reverse
circulation anomaly and follow-up drilling is planned.
All reported holes on Target 3 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 to 13.5 metres.
Continuous down-hole multi element ICP geochemical data coupled
with high resolution AEM data suggests a steep north dip in the
Target 3 area whereas most of the holes were based on a south dip
and thus either overshot the target or did not test its full width.
Drilling has now recommenced at Target 3, with initial drilling
planned to complete a section of holes to resolve dip and
orientation of the mineralized zone prior to stepping out.
2010 Diamond Drilling Program - Target 2
Three holes totaling 596.5 meters were completed on Target 2
prior to demobilization for the Christmas break. 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 kilometres 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. Initial 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. Many additional mineralized
boulders were found in follow-up prospecting.
The three drill holes tested only two small areas of the overall
target, part of which lies under Crying Boy Lake. Two of the holes
intersected narrow intervals of coincident gold and arsenopyrite
mineralization in drill core. TPK-10-010 returned 5.1 g/t Au over
0.5 metres, and TPK-10-011 returned 1.0 g/t Au over 2.4 metres, 1.5
g/t Au over 1.5 metres and 1.6 g/t Au over 1.4 metres. As at Target
3, core angles and other data suggest that the holes were drilled
along the dip plane of the structure and thus left most of its
width untested. Further diamond drilling on Target 2 will await
results from the IP geophysical survey to better define drill
targets.
Geophysics and Linecutting
Linecutting has now been completed and crews demobilized.
Abitibi Geophysics of Val-D'Or, Quebec, has re-mobilized to TPK to
complete the 80 line-kilometre Induced Polarization
(IP)/Resistivity Geophysical Survey. This survey will cover diamond
drill Targets 1-4, with a 100-metre line spacing. Severe winter
cold has slowed progress however crews should complete the survey
within the next 10 days.
To view accompanying map, click on the following link:
http://media3.marketwire.com/docs/TPKplanmap.pdf
Commentary
"The discovery that we had in the initial 7 holes and the fact
that 11 of 12 holes drilled intersected at least 1 g/t gold is
extremely encouraging," commented Raymond Threlkeld, President and
CEO of Rainy River Resources. "The lack of outcrop at TPK hindered
drill direction selection and now that we have additional data to
guide the exploration, we look forward to our winter drilling
program to make further discovery at TPK."
Dr. T.F. Morris, President and CEO of Northern Superior
Resources states: "The completion of this first phase diamond
drilling not only intersected numerous gold-bearing shear zones,
the drilling achieved an important objective in providing
invaluable data to direct future drilling. This data, coupled with
data derived from the IP survey, reverse circulation drill programs
and boulder surveys will provide critical information necessary for
a successful winter drill program."
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
$138 million in its treasury, the Company is well positioned to
focus on expanding and optimizing the known resources at the Rainy
River Gold Project through its advanced exploration program
(underground) as well as drilling exploration targets outside of
the known resource area. The Rainy River Gold Project property is
extremely well located in the southwestern corner of Northern
Ontario near the U.S. border, is accessible year-round 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 in
Canada. The Company is also working to advance the early-stage
discoveries at its TPK Property, also in Ontario, where it can earn
a 51% interest in the property from Northern Superior Resources.
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.
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.superior.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
HOLE-ID From (m) To (m) Length (m) Gold g/t
--------------------------------------------------------
TPK-10-008 187.6 187.9 0.3 0.5
195.5 196.0 0.5 0.6
--------------------------------------------------------
TPK-10-009 10.2 10.6 0.4 1.4
48.0 48.3 0.3 0.6
66.5 67.0 0.5 0.6
68.7 69.5 0.8 6.9
--------------------------------------------------------
TPK-10-010 100.3 102.8 2.5 1.8
100.8 101.3 0.5 5.1
212.4 212.9 0.4 0.9
--------------------------------------------------------
TPK-10-011 66.8 69.2 2.4 1.0
INCL 66.8 67.3 0.5 1.7
AND 68.7 69.2 0.5 1.5
82.5 84.0 1.5 1.5
85.6 87.0 1.4 1.6
96.5 97.1 0.6 1.1
102.0 102.5 0.5 0.5
--------------------------------------------------------
TPK-10-012 NSA
--------------------------------------------------------
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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