Rainbow Resources (TSXV:RBW) Commences Field Exploration Program on Jewel Ridge Gold Property in Nevada - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, April 12, 2012 - Rainbow Resources (TSXV:RBW) has
commenced a field exploration program on its recently-optioned Jewel Ridge
Property, which is located on the south end of Nevada's prolific Battle Mountain
- Eureka Trend in Nevada.
InvestmentPitch.com has produced a "video news alert" which provides a summary
of this news. If this link is not enabled, please visit www.InvestmentPitch.com
and enter "Rainbow" in the search box.
The Jewel Ridge property, located along strike and contiguous to Barrick Gold's
Ruby Hill Mine to the north and the advanced-stage Lookout Mountain Project to
the south, contains several past producing open-pits. Rainbow will be following
up on encouraging results from previous drilling by Greencastle Resources at the
old Hamburg Mine workings, which included 2.1 grams per tonne gold over a 39.6
metre intercept, starting at the 94 metre level. Rainbow has the option to earn
a 75% interest in this project, located in the heart of a major gold producing
district.
David Johnston, Rainbow's President stated, "We expect a quick permitting
process for drilling Jewel Ridge and strong news flow in the coming weeks from
this exciting new property that holds strong exploration upside."
The company stated that initial drill targets have been finalized and notice of
work applications have been submitted for the International and Gold Viking
properties at the company's flagship Big Strike Project in the West Kootenays,
British Columbia. The International has never been previously drilled despite
strong showings of silver mineralization over north and central portions of the
property.
A 24 pound massive galena rock sample was removed from the International
Property, where rock samples have averaged as high as 1,148 grams per tonne
silver.
Although neither the Gold Viking nor the nearby Ottawa properties have been
drilled, the Ottawa area and an area up to 350 metres east of these claims,
produced 1.8 million ounces of silver in the 1900s. The average grade was
reportedly 61.1 ounces per ton silver, which translates into 2,118 grams per
tonne.
The company's land package in British Columbia also includes the Tin City and
President properties, both near the International, along with another three
properties in the Nelson Gold Camp, approximately 140 kilometres to the south.
The company recently raised gross proceeds of $1.1 million from the issuance of
6.6 million units at $0.15, along with 600,000 flow-through units at $0.20. The
shares currently trade at $0.21, and with approximately 34 million shares
outstanding, the company is capitalized at $7 million.
For more information, please visit the company's website at
www.rainbowresourcesinc.com, or contact David Johnston at 403-701-2781 or email
david(at)rainbowresourcesinc.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing short three minute videos based on significant news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1602181]
Unternehmensinformation / Kurzprofil:
Datum: 13.04.2012 - 01:27 Uhr
Sprache: Deutsch
News-ID 134664
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