Big Strike - International, Tin City & President Properties
A Key Property In The Big Strike Land Package - Drill Program Just Completed
High-grade silver, lead and zinc, as well as traces of gold, were first discovered at the International in the early 1900's, and small-scale mining of near-surface material took place intermittently until the early 1940's.
Until now, access issues have been a major factor in preventing any drilling from ever taking place at this highly prospective property which is located along the eastern shore of Duncan Lake, 140 kilometres north of Nelson, British Columbia. Privately-held Braveheart Resources upgraded road access, providing easy entry into the International, after acquiring the nine crown grants and eight cell claims in 2006. The International, a possible epigenetic polymetallic deposit, was one of Braveheart's key assets in the transaction with Rainbow Resources last fall.
Rock Samples As High As 1,148 g/t (33.5 oz/ton) Ag
International rock samples collected in 2008 by Braveheart Resources from showings approximately 1 kilometre apart returned an average grade of 562.3 g/t Ag (16.4 oz/ton) and 39.2% Pb - fairly typical of historical assays from old workings going back to the early 1900's. Eight of those samples exceeded 590 g/t Ag and 47% Pb with the highest values being 1,148 g/t Ag (33.5 oz/ton) and 68% Pb (Rainbow cautions that these grab samples, while encouraging, may not be representative of mineralization on the property). Soil samples suggest there are many prospective areas of mineralization on the property.
Fugro Airborne Geophysics Data Outlines Potential 7-Km-Long Trend
Following a significant silver discovery in the early 1900's, the B.C. government surveyed the northwest trending International vein system over a true strike length of 1.2 kilometres. Numerous historical adits along that stretch have been confirmed by Moose Mountain Technical Services, Rainbow's resource consultants. Mineralization consists of disseminated to massive galena, pyrite and sphalerite, and is hosted by black, carbonaceous, siliceous schist and decomposed mica schist. Continuity of the mineralization along strike and at depth, and possible expansion of this system along a 7-km-long trend outlined by recently received Fugro airborne geophysical data, needs to be verified through additional exploration and drilling.
Rainbow completed 15 shallow holes during the summer/early fall that targeted the Cabin showing, an exposed mineralized structure approximately 80 metres in length and up to 2.5 metres high along a roadside in the central portion of the property. Drilling confirmed the existence of a quartz vein with mineralization occurring as irregular massive sulphide bodies of galena, pyrite and sphalerite. While assay results returned lower values than grab samples collected in this area and elsewhere (the most significant intercepts were 14.4 g/t Ag over 1.7 metres in CB-12-12 and 10 g/t Ag over 2.4 metres in CB-12-09), drilling tested just a fraction - less than 7% - of the entire vein structure that historically was surveyed over a distance of at least 1,200 metres. The Forgotten showing, where grab samples returned assays as high as 1,148 g/t Ag (33.5 oz/t) and 68% Pb, was not able to be accessed this season but will be a top priority for 2013.
The Cabin showing is along the edge of a resistivity high that trends NW/SE through the property. Moose Mountain Technical Services reports that similar geophysical responses to those seen in the Fugro data for the "Cabin" area, and for the "Forgotten" claims 1,000 metres to the north, exist over a substantial portion of the northwest trending structure for a total distance of 7 kilometres.
The International Property, with elevations ranging from 576 metres to 2,133 metres, is situated in the Rocky Mountain Belt near its western edge in the Purcell Mountains, just north of the apex of regional deformation known as the Kootenay Arc. The Horsethief Creek Group, comprising highly deformed quartz mica schist, underlies the property.
Local resources and infrastructure in the immediate vicinity of the International enhance the attractiveness of a mining project. The Glacier Hydroelectric Plant Project is just a few kilometres south of the crown grants while good paved highways, after a gravel road from Copper Creek Junction, connect the property to Revelstoke and Nelson as well as the smelter facilities of Trail.
Rainbow President David W. Johnston On The International
"This project has been several years in the making and started with Braveheart quietly assembling a 40-square kilometre land package that included important crown grants. The infrastructure dynamics around the International have changed significantly since a discovery was first made at this property in the early 1900's, so what's possible now was not achievable historically. We're still in the early stages of exploration at the International - in fact, we've only just scratched the surface in carrying out the Phase 1 shallow drill program at the Cabin showing.
"We believe there is excellent potential to define a deposit at the International and we do have the right team in place to help accomplish that goal. The Duncan Lake district has produced numerous silver-lead-zinc deposits and we believe the geological conditions are ideal for the discovery of a substantial deposit at the International."
Possible Extension of Deposit At International
The southern portion of Rainbow's 1,000-hectare Tin City Property is attached to the northern tip of the International and is viewed as a potential extension of a deposit at the International.
Historically, the Tin City area was first explored in the 1920's when three short adits, an inclined shaft and some open cuts were driven into galena and sphalerite-bearing quartz veins. A tin showing, also containing beryllium and scheelite, was discovered in the 1940's. Soil geochemistry outlined several copper, lead, zinc and tungsten anomalies. Rock samples varied from 0.35% to 2.21% tungsten. Exploration since then, including some limited drilling by Newmont, has focused on tungsten with most of that work carried out in the 1980's.
Rainbow believes the property warrants a fresh geological approach, especially considering its proximity to the International. Moose Mountain continues to review current and historical data related to Tin City.
Similar Geological Characteristics To Bluebell Mine
The President claims are situated on the west side of Duncan Lake, approximately 13 kilometres southwest of the International. The Lardeau Group, comprising quartzite, argillites and altered sill material, underlies the property. Considerable faulting on this under-explored property could have provided a conduit for mineralizing solutions.
The quartzites are brecciated and chloritic within north-trending shears near faults. An 8-kilometre long fault trends northwest through the property and follows the contact between the Upper Index and Sharon Creek formations. There are some geological similarities between the President Property and the past producing Bluebell Mine (4.82 million tonnes grading 5.2% Pb, 6.3% Zn and 45 g/t Ag) approximately 90 kilometres south. Moose Mountain continues to review current and historical data related to President.