Rainbow Resources – Big Strike Project Field Exploration Highlights: 85.3 g/t Au at Whitewater; 35.6 g/t Au at Referendum; 6.3 g/t Au; 130 g/t Ag at Gold Vikingadmin
TORONTO, ONTARIO – (November 28, 2013) Rainbow Resources Inc. (‘Rainbow’ or ‘the Company’) (TSX VENTURE:RBW)(OTCQX:RIINF) is pleased to announce that it has received assay results from its recent field mapping and sampling program at its key Big Strike Project in the West Kootenay Mining District near Nelson, British Columbia, Canada.
Rainbow received encouraging results from the Big Strike Project’s Whitewater, Referendum and Gold Viking properties and a technical report is currently being prepared which will contain an in depth analysis of these results and recommendations for further exploration including priority targets for a future diamond drilling program.
Rock saw channel sampling at the Whitewater site returned values of 14.2 g/t Au over a width of 1.2m and Rock chip samples taken along strike returned values up to 85.3 g/t Au. Showings and adits at the Whitewater site show continuous banded veins from .5 – 2m exposed on a continuous trend over 500m. Vein systems striking N55?E with variable steep dips trending east showed strong mineralization of chalcopyrite, pyrite, pyrrhotite and molybdenum.
Chip samples taken from outcrop at the Referendum site returned values up to 35.6 g/t Au. Vein exposures indicate the presence of an echelon shear filling mineralized zone. Numerous trenches expose banded quartz veins up to 2m in width dipping vertically over 400m extend East to West. Visible gold was present in dark banded quartz veins.
Rock chip samples from the Gold Viking property returned values up to 6.3 g/t Au and 130 g/t Ag. Underground workings show dense mineralized quartz veining with open extent along strike (N30?E) and steeply dipping East. Mineralization included galena, sphalerite, chalcopyrite, and pyrite.
Table 1 provides additional highlights from the assay results.
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Mr. Jim Decker, P. Eng., Director of Rainbow Resources Inc. and a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this news release.
About Rainbow Resources:
Rainbow is a Canadian based junior exploration company focused on building shareholder value through aggressive exploration in two favourable and proven mining jurisdictions – the West Kootenays in southeast British Columbia (silver, gold and flake graphite), and Nevada where Rainbow’s Jewel Ridge gold-silver project is in the heart of a major producing district. Rainbow’s shares are listed on the TSX Venture Exchange under the symbol TSX-V:RBW and on the OTCQX International under the symbol RIINF. Rainbow currently has 47,820,052 common shares issued and outstanding.
Rainbow Resources Inc.
David W. Johnston
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks,(more)uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company’s continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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 of this news release.
Posted: November 28th, 2013 under ACCESSWIRE.