Shares in Rainy River Resources (TSX-V:RR) popped 5% this morning after the company reported an eye-watering intersect of 408 grams per tonne gold over 4.5 meters from infill drilling at the OZM zone, which is part of the larger Rainy River Gold Project, in north-western Ontario, Canada.
The company called early results from infill drilling at ODM as “exceptional” and the market appeared to agree. The spectacular intersect was hit in drill hole NR10-532 on the western end of ODM17 Zone. The 4.5 meter intersect included a bonanza 1.5 meters grading 1,221 grams per tonne gold, and is one of the highest grade intersections ever recorded at the project. The zone was hit only 415 below surface.
Rainy River also reported drill highlights from 433, South and HS Zone, which all returned encouraging results.
"These latest results from the infill program in the ODM and 433 zones have been excellent and demonstrate the exploration potential and development flexibility that the deposit offers," commented Raymond Threlkeld, President and CEO.
Rainy River recently upped its exploration budget for 2010 and commenced development of an underground exploration program which is due to kick off in 2011.