Vancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - Raindrop Ventures Inc. (CSE: RAYN) (FSE: RV0) ("Raindrop" or the "Company") is pleased to provide an update on rock chip trench sampling at its 100%-owned Clover Mountain Project in Idaho (the "Clover Mtn"). The Company successfully completed approximately 650 metres ("m") of excavator trenches to bedrock in areas of relatively shallow overburden. Raindrop is also continuing to perform in-depth technical reviews of potential new projects in mining friendly jurisdictions and expects to add additional exploration projects to its portfolio.
At Clover Mtn sampling was concentrated on quartz-bearing alteration and shear zones exposed in the trenches. Mapping of the trenches identified multiple complex structures intensely altered and brecciated with silicified stockwork and argillically-altered breccia fragments. Three hundred and seventeen (317) rock chip channel continuous samples were collected, each containing 8 to 10-kilograms of material over a 1.5 m interval, represent 475 m of sampling. The rock-chip trench samples were delivered to the ALS Minerals Laboratory in Elko, Nevada, with 165 delivered on July 20, 2020 and 152 on August 4, 2020. Each of the 317 samples and duplicates were collected from trenches CT-1 and CT-3. The samples are being crushed, split, and pulverized in preparation for AuAA-23 and MeMS-41 analyses.
Assay results from the first 165 samples from Clover Mtn are expected in approximately two weeks.
Clover Mtn is located on BLM land 60 miles southeast of Boise, Idaho and consists of 43 unpatented claims totaling 860 acres. During 2008 and 2009, geochemical programs collected 215 soil samples that defined two northeast trending soil anomalies with gold values ranging from 0.020 grams per tonne ("g/t") to 0.78 g/t in an 800 m x 240 m area. Silver values range from 0.02 g/t to 1.19 g/t. In addition, rock chip samples collected on the Property returned highlight values of 1.99 g/t gold, 19.95 g/t silver, 1.25% copper and 1.54% zinc.
Figure 1 shows the claim block is located on a magnetic low-high boundary at intersecting regional faults and is adjacent to potentially a large intrusive body about 10 kilometres to the northeast.
Figure 1: Magnetic, Structural and Intrusive Data
To view an enhanced version of Figure 1, please visit:
The Company believes the Property lies within the "Jarbidge Trend" which includes projects such as Integra Resources' Delamar, Florida Mountain and War Eagle gold-silver properties in Idaho and the Jerritt Canyon Gold, LLC's gold mine in Nevada, where over 8 million ounces of gold were produced since 1981.
QA/QC Protocols and Sampling Procedures
Quality control of the sampling program includes the insertion of reference standards and blanks as well as reject duplicate analysis to monitor the integrity of all assay results. All samples are transported to ALS's laboratory in Elko, Nevada. Samples are then dried, crushed, split, and pulverized. The prepared samples are then sent to the ALS lab in Vancouver, BC for assay and analysis. Gold is determined by fire assay with an atomic absorption spectroscopy (AAS) finish, and silver plus 34 other elements by multi-acid digestion and ICP finish, over-limits by fire assay and gravimetric finish.
R. Tim Henneberry, P.Geo. (BC) and a Director of Raindrop is the Qualified Person who has reviewed and approved the technical content of this news release.
About Raindrop Ventures Inc.
Raindrop is a newly formed company that began trading on the CSE February 3, 2020 and is led by a noted leader in mining and mineral exploration with the express purpose of acquiring and exploring mineral properties in the new resource commodity cycle. Raindrop acquired and is exploring the Clover Mountain Property, located in Idaho, USA.
Raindrop has a well-planned capital structure with significant team and insider ownership. For more information please visit www.raindropventures.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
FOR FURTHER INFORMATION PLEASE CONTACT:
Saf Dhillon, President, C.E.O. and Director
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's listing of its common shares on the Canadian Securities Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60977