TORONTO, Dec. 4, 2012 /PRNewswire/ --
RBW Exploration Update Highlights:
- Drilling at Jewel Ridge intersects favorable mineralized zones in all six holes
- Assay results pending from Jewel Ridge, geological modeling in progress
- Rainbow acquires past producing Croesus Mine at Jewel Ridge
- Gold Viking and International assays show near-surface mineralization
- Assays from 10 additional Gold Viking drill holes pending
Rainbow Resources Inc. (OTCQX: RIINF) ("Rainbow" or the "Company") is pleased to report that it has acquired 100% ownership of 19 strategic patented claims within and contiguous to the Jewel Ridge Property in Nevada following completion of a Phase 1 drill program that has intersected favourable mineralized zones at the past producing property. Assay results are expected anytime this month. Meanwhile, preliminary assays show near-surface silver and gold mineralization in the first two holes ever drilled at Rainbow's Gold Viking property in the West Kootenay region of British Columbia with results pending from 10 more holes. Drilling has also intersected near-surface silver mineralization at the International Property which also forms part of the Company's 100% owned 13,000-hectare Big Strike Project in southeast B.C.
Jewel RidgeA Phase 1 reverse circulation drill program has been completed at Jewel Ridge along the prolific Battle Mountain-Eureka Trend in Nevada. All six holes showed significant mineralized intersections with continuous silicic alteration including considerable jasperoid content, hydrothermal breccia, and quartz-carbonate replacement textures. Samples were taken every 1.5 metres along the entire length of each drill hole. Multi-element ICP analysis is being completed on all 756 samples with initial results expected in the near future from ALS Chemex Labs Ltd. in Reno. In addition, numerous rock samples have been submitted to the lab from prospecting over a wide area of the property.