This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Rainy River Resources Completes Feasibility Study: Establishes Intermediate Production Profile With 4.0 Million Ounces Of Gold In Proven And Probable Reserves

 

RAINY RIVER GOLD PROJECT - FEASIBILITY STUDY

Contributors

The independent Feasibility Study was prepared through the collaboration of a number of industry-recognized consulting firms, including BBA Inc. ( Montreal, QC), Golder Associates ("Golder", Vancouver, BC), AMEC Environment & Infrastructure ("AMEC", Mississauga, ON), Merit Consultants International Inc. ("Merit", Vancouver, BC), SRK Consulting ( Canada) Inc. ("SRK", Toronto, ON), SGS Canada Inc. ("SGS", Lakefield, ON), SanZoe Consulting ("Sanzoe", Toronto, ON) and TBT Engineering ("TBT", Thunder Bay, ON). A summary of contributors to the FS is included in Table 1 below.

Table 1 - FS Contributors


    Responsibility Area                             Contributor
    -------------------                             -----------
    Geology                                    Rainy River Resources
    Resource Estimate                                   SRK
    Mine Planning                                   BBA, Golder
    Geotechnical, Tailings, Hydrogeology               AMEC
    Metallurgical Testwork                              SGS
    Process flow sheet and Plant Design                 BBA
    Tailings Management Facility                       AMEC
    Infrastructure, Power Supply                 BBA, SanZoe, TBT
    Construction Management                            Merit
    Environmental Baseline and Permitting              AMEC
    Financial Modeling (pre-tax)                        BBA

Open Pit and Underground Mineral Reserves

The FS mineral reserves are based on the October 2012 resource update (see Rainy River Resources' press release dated October 10, 2012). For the FS, open pit mining dilution and mining recovery are calculated as 9.7% at 0.22 g/t gold and 1.31 g/t silver and 95%, respectively. Approximately 80% of the underground mineral reserves are in long-hole (LH) stopes, with the balance of about 20% of underground reserves in cut-and-fill ("CAF") stopes. Overall, it is estimated that the LH stopes will have approximately 10% dilution grading 1.56 gpt gold and 1.28 gpt silver. Dilution in the CAF areas is estimated to be 9% with a grade of 0.61 gpt gold and 4.16 gpt silver. Underground resources have been calculated assuming a mining recovery of 95%.

The open pit cut-off grade is 0.30 g/t gold-equivalent ("AuEq"), and the underground cut-off grade is 3.5 g/t AuEq. The resulting mineral reserve calculation for the open pit and underground mine plans is shown in Table 2:

3 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,197.79 -90.84 -0.50%
S&P 500 2,108.74 -8.65 -0.41%
NASDAQ 4,982.0030 -26.0930 -0.52%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs