Drilling Commenced on Rainy Mountain’s Brunswick Gold Exploration Property
West Vancouver, British Columbia – May 24, 2017 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to report that drilling is now underway on the Company’s optioned gold exploration property (the “Brunswick Property” or “Property”). The Brunswick Property is accessible year round by bush road connecting to Highway 560 that links to the west with Highway 144 and then north to Timmins (via Highway 101).
Presently, the Company intends to complete 15 drill holes (10 drill sites selected on the east side of the Property and five additional drill sites selected on the west side of the Property). Additional drill sites are also being considered and will be determined as the current drill program continues.
Prior to commencement of the current drill program, Rainy Mountain continued sampling outcrops and exposures on the west side of the Brunswick Property and began trenching with a back hoe on May 9th in an attempt to expose four carbonate alteration zones associated with the recently completed Induced Polarization (“IP”) survey. The IP surveys have been continued on in-fill lines to better define the anomalies (at 100m spacings using 25m stations and an “a” spacing for the electrodes of 25m to obtain better resolution). The IP surveys have detected the present of sulphide mineralization within the sericite carbonate zones which would be the normal setting for associated gold mineralization.
A magnetometer survey was also completed (with readings taken at 12.5m intervals), which helps outline the carbonate zones (being a low magnetic signature) and also assists in locating diabase dikes which cross the mineralization in a northerly direction.
As well, recent trenching has exposed crack seal quartz veins with sericite and hydromuscovite (apple green mica) on the fractures in the quartz, as well as disseminated sulphide zones flanking the quartz veins. The Company believes that these mineral settings are favourable hosts for gold mineralization and are similar to the setting found at the Bell Creek Mine in Timmins, Ontario.
Further, additional sampling has been done to determine the distribution of the pathfinder elements for gold (such as arsenic (As) and antimony (Sb)), which were previously detected in the fall of 2016 (see the Company’s news release of January 3, 2017 for additional details). Fifteen samples (of the 22 samples submitted in May 2017) were either elevated in antimony or very anomalous and the crack seal vein (found 200m west of the original antimony site) was also very anomalous in antimony. Arsenic was also detected, which is often peripheral to gold mineralization. The Company believes that all of the anomalous values are geochemically significant, from an exploration point of view, but are not at any toxic level. This information will assist the Company in finalizing where future drill holes will be placed.
A core shack with logging tables and core saw has been set up near the Property to receive and process core in a secure facility from the current drill program. Field sampling and trenching has been carried out and/or supervised by the Company Qualified Person, R.S. Middleton, P.Eng., and assisted by the prospector, Michael Tremblay.
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.
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.