Rainbow Resources‘ (RBW, TSX-V) Tin City claims figure prominently in the company’s plans for its International Silver Property as the scale of a potential deposit would increase dramatically if it’s determined that Tin City is part of the same northwest trending system.
Below is the transcript of Part 1 of an interview Jon conducted with Rainbow President David W. Johnston at the International Property during a recent site visit.
BMR: “David, we’re standing at the moment in front of the Havelock #1 adit on the International Property, over a kilometre northwest of where Rainbow will actually begin its initial drilling – the site we saw a little earlier. Above us, about 150 feet or so, is another historical adit which we just visited with some pretty amazing rock samples that we’ve taken pictures of. What can you tell us about this area?”
Johnston: “This is where the initial discovery was made at the International in the early 1900′s, specifically above us at the upper adit. A lot of high-grade material – Silver, lead and zinc – was pulled out of here, and even some Gold at lower grades, according to several historical reports. We’ve confirmed the strong presence of massive galena and very high Silver values with our own sampling. This discovery was significant – you can read about it in historical issues of the Spokane Chronicle, and it also got the attention of the B.C. government. But they could never get a drill rig into here to test this system for its potential size. We believe it’s an exceptional target, just like what we’re looking at elsewhere on this trend and of course a kilometre to the southeast of here where we’ll be starting our drilling. The exciting thing is that this structure is open in all directions and could extend to the northwest onto our Tin City claims and to the south of where our first holes will be drilled.”
BMR: “Tin City is a bulk tonnage tungsten target a couple of kilometres to the northwest from here, but has apparently never been explored for Silver. What are your plans to determine if Tin City could be the northwest strike extension of the International?”
Johnston: “That’s a theory we’re going to test immediately with prospecting. We need to follow the trend aggressively north and south. We have our own initial data and some historical reports to go on that are very encouraging. Moose Mountain Technical Services, our geological consultant, has stated that just on the International, this mineralized structure could extend for several kilometres. Tin City is contiguous to the International and runs to the northwest for another four kilometres. We’re going after prospecting discoveries right now as well as drilling discoveries. We have a lot of dots we think we can connect. Tin City is a great property on its own as a potential tungsten deposit, and we’ll explore that possibility at a later date. For now we want to determine if this main structure at the International extends as far north as Tin City where we do know the geological environment is prospective for Silver.”
BMR: “How soon before drilling starts?”
Johnston: “The Ministry has accepted our drill plan and we’re just waiting for the final ok. This can often be a 90-day process from when the notice of work first goes in to issuance of the drill permits and we’re at the 90-day period by the end of the first week in July. Our drilling company is standing by. As soon as get the word, the drill rig is being mobilized. We won’t be wasting any time. As you’ve seen, we have an impressive exposed structure we’ll be drilling about a kilometre south of where we’re standing, so we’re very eager to get going with that.”
BMR: “Getting to the drilling stage at the International will be the culmination of six years of hard work on your end. What I’ve seen here today has exceeded even my expectations, but what has motivated you the most to pursue this property?”
Johnston: “Its discovery potential and mining possibilities, as simple as that. Grade is king and the possibility of a near-surface, high-grade deposit is very real given what we know historically about this property. Deeper down, who knows – that could be very interesting as well. We have lots of work ahead of us but when you have a property of such strong merit as this, that has never been previously drilled for reasons not related to geology, then you have to be really excited. There are also major portions of this property – keep in mind it’s 40 square kilometres - that have never even been prospected before. We’re in a very good region where it makes sense that more discoveries will be made. Right off the bat we’re drilling into a known mineralized structure. As you’ve seen, it’s a target as obvious as a full moon on a clear summer evening. Hard to miss.”