News Release No. 12-10
38 metres of 0.45% Copper, 2.2 grams/tonne Silver
and 0.064 grams/tonne Gold Drilled at Marshall Lake Property, Ontario
West Vancouver, British Columbia – December 3, 2012 – Rainy Moutain Royalty Corp. (the "Company" or "Rainy Mountain") is pleased to announce that its joint venture partner, White Tiger Mining Corp. ("White Tiger" – TSX-V: WTC) has reported the assay results from five additional core drill holes (RMZ 12-30, -31, -32, -33 and -37). According to White Tiger, all of these drill holes were designed to test the continuity of the copper, silver and gold mineralization in the "RM Zone" and "RM South Zone" of Marshall Lake property.
The Marshall Lake property is an advanced stage copper (Cu), silver (Ag) and gold (Au) exploration project located 30 km west of Nakina, Ontario (access is via good all weather gravel road from Hwy 11 and 22 km north of the main CNR rail Line).
As reported by White Tiger, the most recently received assay results are presented in the following table:
|Hole Number||From (metres)||To (metres)||Width (metres)||Cu (%)||Ag (g/tonne)||Au (g/tonne)|
*RMZ 12-30 is an extension of drill hole RMZ 11-30, and accordingly, 2011 and 2012 results have been combined and are presented above.
White Tiger has indicated that drill core was split at the Marshall Lake property and sample preparation was done by ALS Chemex in Thunder Bay, Ontario. Pulp samples (<75 microns) were then sent by secure courier to ALS Chemex in North Vancouver, British Columbia and analyzed by ICP spectrometer ("ICP") using a 0.5g representative pulp dissolved in Aqua Regia (3 acid) digestion. All samples grading over 1.0% copper were re-assayed with ore grade ICP and Aqua Regia digestion. Gold analysis was done on a 30 gram sample by fire assay extraction with AA ("Atomic Absorption") finish.
Set out below is White Tiger’s summaries of the results from each of the five additional core drill holes:
Drill hole RMZ 12-31 (the westernmost drill hole along the RM South Zone geological trend) was collared 25 metres to the west of RMZ 11-28. Drill hole RMZ 12-31 intercepted a near surface zone from 49 to 67 metres, correlative with the mineralized intercept reported earlier from drill hole RMZ 11-28 (see White Tiger’s November 24, 2011 news release). Drill hole RMZ 12-31 was then extended to 270 metres and intersected a new zone of copper mineralization between 241 and 265 metres (approximately 175 metres vertically below copper mineralization reported from trenching and historic drill hole D13). The RM South Zone trend remains open to the northwest and southeast.
Drill hole RMZ 12-32 was drilled in the RM South Zone below drill holes RMZ 11-21 and -23 and intersected 38 metres of copper mineralization between 68 and 106 metres (effectively extending copper mineralization encountered in the upper 100 metres of drill holes RMZ 11-21 and -23, some 20 metres down-plunge).
Drill hole RMZ 12-33 was drilled transverse to drill holes RMZ 11-21, -23 and -24 (toward 105 degrees azimuth). This drill hole was designed to test the western strike extent of significant copper mineralization previously encountered deep in those earlier drill holes. Drill hole RMZ 12-33 intersected 22 metres of copper mineralization between 147 and 169 metres (successfully extending the strike length of the deeper copper intercept of the RM South Zone, some 15 metres westward). The eastern strike extent of this deeper intercept remains untested.
Drill hole RMZ 12-30 is an extension (deepening) of drill hole RMZ 11-30. Collared in the RM Zone, this drill hole passed beyond and constrains the western strike extent of the RM Zone after penetrating a total of 67 metres of copper mineralization. Significant results within the entire drill hole are presented in the table above.
Drill hole RMZ 12-37 is a step out hole on the RM Zone (25 metres to the northeast) and intercepted 22 metres of copper mineralization between 142 and 164 metres. The copper mineralization is hosted by intermediate to felsic volcanics in the RM and RM South Zones. Noteworthy is that this drill hole intersected stringer copper mineralization within a porphyritic intrusion, as host.
As part of its recently completed drill program, White Tiger reported that it has drilled three additional drill holes (RMZ 12-34, -35 and -36) and the core from these drill holes is presently being assayed and will be reported by White Tiger once such assay results have been received and analyzed.
White Tiger has also indicated that as compilation of data is now complete, White Tiger intends to resume further drilling on the Marshall Lake property.
White Tiger has the option to earn a 50% interest in the Marshall Lake project from Rainy Mountain and Marshall Lake Mining PLC (“MLM”) by spending $4 million in exploration expenditures over 5 years and issuing 2 million shares over 4 years to Rainy Mountain. As well, White Tiger has the additional option to increase its interest to 75% by incurring such additional expenditures as are necessary to take the project to bankable feasibility stage.
This news release has been reviewed and approved by Gordon Gibson P.Geo., who is acting as the Company’s Qualified Person for the Marshall Lake 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, CEO
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.