ONTARIO — Rainy River Resources of Vancouver has filed a 43-101 report on its wholly owned project 80 km south of Kenora that includes 4.0 million oz of gold and nearly 8.0 million oz of silver in all categories. The company hopes to develop an open pit to recover most of the metal, and a small underground operation would mine the remainder.
The report puts indicated resources recoverable by open pit mining at 55.0 million tonnes and inferred resources within the proposed pit shell at 12.5 million tonnes. Underground resources are reported to be 530,000 tonnes in the indicated category and 875,000 tonnes in the inferred category. Average grades for all indicted material is 1.24 g/t Au and 1.89 g/t Ag; for the inferred portion it is 0.88 g/t Au and 2.21 g/t Ag.
Rainy River has identified two types of mineralization at the property. The first is a volcanogenic gold and base metal occurrence hosted in a caldera. The second is a copper-nickel-PGE occurrence hosted in a younger mafic-ultramafic intrusion. Visible gold is associated with narrow quartz and pyrite veins and sphalerite-pyrite filled breccia matrix.
Further details about the property's history and mineralization are available at www.RainyRiverResources.com.