Vancouver, British Columbia - August 28, 2017 (Newsfile Corp.) (Investorideas.com Newswire) Rainy Mountain Royalty Corp. (TSXV: RMO) (FSE: EK7N) (the "Company" or "Rainy Mountain") announces further exploration results from a trenching program currently underway on its optioned gold exploration property (the "Brunswick Property" or "Property") located 140 km south of Timmins, Ontario.
Additional Brunswick Property Exploration Discoveries:
Rainy Mountain has been undergoing a trenching program on a number of recently identified Induced Polarization ("IP") anomalies (see the Company's news releases of December 12, 2016, May 4 and April 4, 2017) on the East Grid of its Brunswick Property, and as well, carbonate sericite shear zones have been exposed which are associated with these IP anomalies. Samples from these exposed shear zones have been submitted for testing and assays are pending.
As well, 800m west of the original gold showing (on line 49800E), a parallel carbonate zone was found 75m to the north side of a strong IP trend currently being trenched (on line 49000E), which may represent an extension of the original gold structure. This zone has been sampled and assays are also pending.
As part of the current exploration program, the Company has trenched 100m east of drill hole BE04, thus exposing the host carbonate shear which has also been sampled. In addition, several trenches were dug (1,000m and 900m west of drill hole BE04) exposing the shear structures associated with the IP trends.
On the West Grid of the Property, sampling of a new shear structure discovered on line 48500 has identified a number of sulphide bearing structures adjacent to a porphyry and is being traced further by mapping. Also, two grab samples containing 4.05 gm Gold (Au) and 2.56 gm Gold (Au) from a sulphide rich shear zone containing quartz veins have been found on the extension of the previous discovery of 6.6 gm Gold (Au) grab sample (see the Company's news release of July 12, 2017). This new location is northwest of the previous 6.6 gm Gold (Au) sampling site on a parallel shear zone. All three gold bearing samples have new pathfinder elements, including Bismuth and Tellurium (Bi-Te), with some copper mineralization as well. A separate IP trend (parallel to the shear and roughly 50-75m north), and a much wider structure, may be present which will require further trenching. Porphyry sills, or dikes, also occur along the south side of this shear feature. Access trails for 4-wheel ATV vehicles have been cut to get equipment in to this location (approximately 1,000m from the main logging road).
The current trenching program has highlighted important features that will greatly assist the Company's focus for the next phase of planned drilling. Step out holes to drill hole BE04 and the new carbonate shear are planned, as well as additional drill holes on the shear zones where the new gold discoveries have been identified.
Assaying of the grab samples are being completed by ALS Canada in North Vancouver, British Columbia using both MEME41 ICP and Au21 fire assay on a 30 gm sample, with any values exceeding 3.0 gm Gold (Au) to be re-assayed. Sample preparation was done by ALS Canada in Timmins, Ontario.
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 Property project, in accordance with regulations under NI 43-101. Samples on the west side of the Property were taken by veteran prospector, Mike Tremblay, and trenching and washing was completed by experienced field personnel from Timmins, Ontario, who have assisted Mr. Middleton in the past on exploration and discovery work in both Timmins and Hemlo, Ontario.
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.
"Douglas L. Mason"
Douglas L. Mason, Chief Executive Officer
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
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.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.