Raindrop Identifies Gold Bearing Low Sulphidation Hydrothermal System at Clover Mountain
Vancouver, October 14, 2020 - Raindrop Ventures Inc. (CSE: RAYN) (FSE: RV0) ("Raindrop" or the "Company") is pleased to announce confirmation of a low sulfidation, gold bearing hydrothermal system, in Eocene rocks, by the recently completed sampling program at its 100%owned Clover Mountain Project ("Clover Mtn") near the Nevada border in southwestern Idaho. The currently defined mineralized area covers 6.8 hectares with the overall lateral and vertical extent of the identified gold mineralization still to be determined. The trenches are within a delineated northeast trending soil gold anomalous area approximately 800 metres ("m") in length and approximately 245 m in width.
Highlights:
- Three parallel trenches totaling 482 m were excavated to bedrock in shallow overburden and 317 eight-kilogram samples were collected in continuous 1.5 m intervals, testing mineralized quartz-bearing alteration and shear zones contained in Eocene intrusive rocks
- Some 64% of the sample assays returned highly anomalous gold values, with many including a silver-gold ratio of more than 20:1. Several additional sample assays returned significant anomalous silver-only values
- The anomalous gold values range between 0.005 and 1.8 grams per tonne ("g/t")
- Seven of the 1.5 m sample intervals returned gold values of 0.10 g/t or higher
- The higher gold values are associated with jarosite and quartz-adularia alteration
- 50 percent of silver assays reported greater than two times the background of 0.070 ppm and 15 percent are greater than five times the background
- Silver to gold ratios define geologic structures and indicate multiple mineralizing episodes related to at least two felsic intrusive events.
"Raindrop is pleased with the results of our exploration work at Clover Mtn and we believe we are seeing the top of a large-scale, low sulfidation epithermal gold system. Our technical team is now interpreting the data and with the goal of laying out additional trenches to follow up and expand the current area and define drill targets," commented Saf Dhillon, Raindrop's Chief Executive Officer. "Concurrent with the Clover Mtn exploration program, our technical team continues to review and evaluate gold/silver projects within mining friendly jurisdictions with the goal of expanding Raindrop's property portfolio," he continued.
QA/QC Protocols and Sampling Procedures
A total of 317 continuous rock chip samples, at 1.5 m intervals, were collected from bedrock representing 457.5 m of linear trench of which 366 m fell within in the mineralized altered granite. 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. The 8 to 10 kg samples were delivered to the ALS Minerals prep lab in Elko, Nevada, where they were dried, crushed, split, and pulverized. The prepared samples were then sent to the ALS lab in Vancouver, BC for assay and analysis. The samples were processed utilizing ALS Minerals AuAA-23 and MeMS-41 analyses, where gold was 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.
About Clover Mtn
Clover Mtn is located on BLM land 60 miles southeast of Boise, Idaho and consists of 43 unpatented claims totaling 350 hectares. The Company believes Clover Mtn 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. Clover Mtn has previously returned highlight rock chip samples of 1.99 g/t gold, 19.95 g/t silver, 1.25% copper and 1.54% zinc and soils gold values ranging from 0.02 g/t to 0.78 g/t and silver values ranging from 0.02 g/t to 1.19 g/t.
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 company that began trading on the CSE February 3, 2020 with the express purpose of acquiring and exploring mineral properties in the current resource commodity cycle. Raindrop is managed by a team of mineral exploration and public market experts with significant experience in creating shareholder value. 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
Saf Dhillon
President
FOR FURTHER INFORMATION PLEASE CONTACT:
Saf Dhillon
President, Chief Executive Officer and Director
email: safdhillon@gmail.com
Tel: 604-484-3031
Cell: 604-834-1365
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.
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