Rainy Mountain Announces Update on Proposed Drill Program at Brunswick Gold Project
West Vancouver, British Columbia--(Newsfile Corp. - October 12, 2017) - Rainy Mountain Royalty Corp. (TSXV: RMO) (FSE: EK7N) (the "Company" or "Rainy Mountain") announces that it has completed an analysis of the assay data and results of the Company's trenching program completed in August 2017 (see the Company's news release of August 28, 2017) at the Company's Brunswick gold project. As a result, Rainy Mountain is proposing to move forward with a 1500m drill program of approximately 11-13 holes in order to test three features that were exposed during the summer exploration program.
Trenching completed west of the original gold showing has located a distinct deformation zone (see photos of the trenching program on the Company's web site at www.rmroyalty.com), which is flanked by an intense iron carbonate zone with sulphides. An anomalous gold value of 0.388 g/t was obtained from this deformation zone with folded quartz veins 800m west of the original gold showing. As such, approximately 4-5 drill holes are proposed in the zone to test this anomalous site and other locations along the deformation zone where anomalous gold in soils have been observed. In addition, the section 300m west of the original gold showing where a 32.9 g/t gold value was obtained in the original trenching conducted by Michael Tremblay (one of the optionors of the Brunswick Property) will also be tested.
Trenching also exposed strong veining 200m west of hole BE17-04 with chalcopyrite and anomalous gold values of 0.322 g/t, and 0.172g/t Au associated with anomalous arsenic (As). Four more holes are proposed along this shear.
On the east part of the West Grid, three gold values of 6.6 g/t, 4.05 g/t, and 2.56 g/t were found on the east end of a 900m long Induced Polarization ("IP") trend which may require 2-3 holes, as well as one hole to test a parallel IP trend that cannot be reached by trenching equipment.
Budget permitting, additional lines are proposed on the east extension of the east grid to trace the extension of the original gold zone and, if possible, additional lines will be cut and read with IP to the west tracing the anomalous arsenic and gold values observed in the Company's June exploration efforts.
This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as the Company's Qualified Person for the Brunswick gold project, in accordance with regulations under NI 43-101.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company's website at www.rmroyalty.com.
Rainy Mountain Royalty Corp.
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This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.