Copper Lake Hits High-Grade Massive Sulphides and Copper Stringer Zone at Marshall Lake
West Vancouver, British Columbia – May 28, 2018 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) announces that its joint venture partner, Copper Lake Resources Ltd. (“Copper Lake”) has provided results of its winter drilling program on the Marshall Lake copper-zinc-silver-gold exploration property located 250 km northeast of Thunder Bay, Ontario, and comprised of 10,430 hectares.
- Massive Sulphides – Billiton Main Zone 30 metre Step Out
o 1.0 m @ 3.20% Cu, 8.35% Zn, 367.00 g/t Ag and 8.01 g/t Au in hole MAR-18-07
- Near Surface Copper Stringer Zone – Gazooma Zone Step Out
o 25.30 m @ 1.07% Cu, 20.1 g/t Ag from depth of 1.05 m, including 13.85 m @ 1.54% Cu, 28.30 g/t Ag from 11.20 m to 25.05 m in hole GAZ-18-01
The purpose of the program was to test three VTEM conductors and other targets derived from a comprehensive compilation of historic data undertaken between 2014 and 2017. A total of 14 holes for 2,868 m were completed. A table of significant intersections, drill hole locations and statistics is appended (see Appendix A and B).
Copper Lake’s Future Plans
The 2018 drill program identified priorities in the area of historic work and numerous showings.
- Main Billiton – validate historic drilling and expand to depth.
- Gazooma – potential for shallow resource definition and trace the stringer zone ESE.
Assessment of the upper two thirds of the Marshall felsic volcanic pile is recommended, particularly two strong airborne (VTEM) conductors associated with altered tuffs overlying interpreted vent facies coarse fragmental domes located along the south shore of Marshall Lake.
Marshall Lake’s Exceptional Geology
The Marshall Lake property is deemed favourable to host Cu-Zn-Ag-Au VMS (Volcanogenic Massive Sulphide) deposits of potential economic merit.
The volcanic pile consists of a moderately east plunging and verging anticline capped by chertmagnetite iron formation.
The discovery of Cu-Zn showings in the 1950’s sparked an exploration rush. Extensive yet shallow work was focused in the lower third of the felsic volcanic pile and was constrained by a patchwork of owners and claim boundaries. The upper portions of felsic volcanic pile remain essentially unexplored and display favourable geology, alteration and untested conductors.
Copper Lake has spent considerable time consolidating the entirety of the Marshall Lake felsic volcanic centre. A detailed digital compilation and re-interpretation of extensive previous work was conducted between 2014 and 2017. This compilation guided this winter’s drill program focused in the area of previous work. A comprehensive discussion of the scope and details of historic work including historic resource estimates, development of new targets and geological model is available in a NI 43-101 Technical Report dated June 07, 2016 and authored by Thomas Hart, P.Geo (see www.sedar .com or www.copperlakeresources.com).
The 2018 drilling serves to highlight potential of the Main Billiton zone which remains open below 150 m depth, displays strong precious metals contents and demonstrates reasonable continuity in 3D modelling of historic data. Hole MAR-18-07 was a 30 m step out from historic hole GM-78-230 drilled by Imperial Oil Ltd in 1978 (see Appendix C).
*GM-78-230 7.40 m @ 2.97% Cu, 10.98% Zn, 219.70 g/t Ag
including 1.65 m @ 5.50% Cu, 31.50% Zn, 320.20 g/t Ag
Hole MAR-18-07 serves some purpose in advancing the process of validating historic drill information in the Main Billiton area. A 3D interpretation of historic drill data here (Appendix C) illustrates drill coverage and the system remains open at depth. A table of significant historical drilling highlights demonstrating high grade silver subintervals is also appended again cautioning the historic nature of the data that has not been verified by a QP and therefore should not be relied upon.
This data suggests a steeply-dipping series of conformable lenses spanning a 300 m strike length. Only six holes have been drilled deeper than 150 m and the system appears to remain open at depth.
The other significant finding of the 2018 drilling was the confirmation of copper stringer mineralization at Gazooma. This showing is part of a cluster of copper showings located approximately 3 km southwest of the Billiton Main Zone. They appear to align along an ESE crosscutting trend and demonstrate a copper to zinc zonation ESE or upwards in the volcanic stratigraphy. The projection of this trend has not been adequately explored to date.
The Marshall Lake drill program was overseen by George Mannard, P.Geo, consultant and managed in the field by Robert S. Middleton, PEng and field geologists were Justin Johnson, MSc., P.Geo and Jordan Laarman, PhD, P.Geo. The contents of this news release were read and approved by Robert S. Middleton, PEng, who is acting as QP for the Company under the rules of 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
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FORWARD LOOKING STATEMENTS
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 the Company’s proposed drill program and planned exploration expenditures on the Brunswick Property, as well 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.
|From (m)||To (m)||Length (m)||
*Greater than 0.5% Cu or 1.0% Zn
Drill Hole Statistics
|Hole No.||Depth (m)||Inclination||Azimuth||Eastward||Northward|
Historic Shallow Drill Results – Main Billiton Zone
|From (m)||To (m)||Length (m)||
Imperial Oil Ltd., 1978
Imperial Oil Ltd., 1977
NWT Copper Mines
NWT Copper Mines
NWT Copper Mines
Certain historic information as marked is sourced from drill logs in MNDM Assessment File records. It predates 43-101, has not been verified by a QP and therefore should not be relied upon.