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Drilling Intersects Two Promising Areas at Rainbow's Gold Viking Property
(via Thenewswire.ca) Mr. David W. Johnston reports: TORONTO, ONTARIO, November 8, 2012:...
About this update from Canadian Critical Minerals Inc
[{"type":"text","content":"\nDrilling Intersects Two Promising Areas at Rainbow's Gold Viking Property\n\n(via Thenewswire.ca)\n\n \nMr. David W. Johnston reports:\n\n\n \nTORONTO, ONTARIO, November 8, 2012: Rainbow Resources Inc. (TSX VENTURE: RBW) (\"Rainbow\" or the \"Company\") is pleased to report that it has completed 12 diamond drill holes over two separate sections, approximately 1,000 metres apart, at its Gold Viking Property in the Slocan Mining District of southeast British Columbia. This 600-hectare property, part of the Company's 100% owned Big Strike Project, has never been previously drilled and is located along a major structural break. \n\n\n \nDrilling over both areas has intersected a potential stockwork vein system, dominated by disseminated to coarse pyrite, and hosted by an intensely altered quartz monzonite intrusive complex. Breccia zones and mafic dikes have been observed within the intrusive package. Gold is believed to be associated with the pyrite. The Company is awaiting results from these holes in order to plan a step-out drilling strategy. \n\n\n \nA large coincident geophysical and geochemical anomaly stretches beyond the boundaries (north-south and east-west) of the areas drilled. The property features numerous historical adits as quantities of gold and silver were mined in the late 1800's and early 1900's, and gold values have been discovered at surface through sampling by Rainbow as previously reported. The Company is already permitted for additional drilling at Gold Viking which is possible over the winter months. \n\n\n \nJewel Ridge Property Update \n\n\n \nRainbow has completed the first two holes of a Phase 1 reverse circulation drill program at the Jewel Ridge Property near Eureka, Nevada. This first phase of drilling is focused on the past-producing Hamburg Pit area. Each hole, drilled to depths of approximately 150 metres, hit the contact zone between the Hamburg Dolomite and the Dunderberg Shale with intense silicification reported throughout each hole. Drilling continues as Rainbow follows up on some highly encouraging near-surface historical drill results in this area of Jewel Ridge including 2.1 g/t Au over 39.6 metres. \n\n\n \nRainbow's exploration target at Jewel Ridge is a sediment-hosted gold deposit. Barrick Gold's Ruby Hill Mine is contiguous to the northern border of Jewel Ridge, while Timberline Reso...