Phase 1 Drilling on Brunswick Gold Exploration Property Completed and Numerous Gold Settings Exposed
West Vancouver, British Columbia – June 8, 2017 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) has completed 14 drill holes (2121m) on its optioned gold exploration property (the “Brunswick Property” or “Property”) located 140 km south of Timmins, Ontario.
The core from the initial six holes drilled has been logged and split and submitted for assay. The core from two additional drill holes will be logged, split and submitted for assay later this week. The first six drill holes (1038m) tested four different iron carbonate-sericite deformation (shear) zones that flank the Ridout Fault Zone. These intersections all contained quartz-ankerite veins with sulphides and minor sphalerite (zinc). All of the alteration zones yielded arsenic-antimony pathfinder elements in the trenching that was carried out prior to drilling.
Robert Middleton, P. Eng. and Qualified Person for the Brunswick Property project, has indicated that intense shearing and deformation has occurred throughout the length of these structures, creating an ideal setting for gold mineralization. Other favourable associated rock units found by drilling were variolitic basalt, spherulitic basalt, leucoxene basalt, quartz eye porphyry and ultramafics, all with intense sericite-carbonate alteration. A previously completed combined magnetic and induced polarization survey traced these favourable structures for 2.4 km on one section of the six mile (9.6 km) long Brunswick Property and the Company believes these structures could continue for another two miles (3.2 km) across the remaining length of the Property.
At this time, the Company anticipates that the recently completed drill program will set the stage for further grid expansion, geophysics and trenching, and will thereafter be followed by another planned phase of drilling. Further infill work and analysis needs to be done prior to finalizing additional drill targets.
Logging and splitting will continue for another week to prepare the remaining samples for submission to the preparation lab and subsequent assay analysis by ALS Minerals. All assay results will be reported by the Company once received and reviewed.
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.
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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.