Rainy River Gold Project New Gold Inc

The Rainy River project constitute gold mining project which is located in Richardson Township, Approximately 65 kilometers northwest of Fort Frances in northwestern Ontario. This mine project managed and owned by New Gold Inc which is the intermediate gold producer.

The property is centered in the Richardson Township at northwestern Ontario, approximately 160 kilometers south of Kenora and 420 kilometers west of Thunder Bay. The property has exceptional infrastructure with access road, electrical wires, and railway 21 kilometers south of the property. 

The project estimated to be productive a 21,000 tonnes per day processing of a combination of open pit, underground and stockpiled ore. The project is expected to produce 325,000 ounces of gold per year to below the industry average cost. New Gold intends to pursue the possibility of higher grade ounces to the project early years, and increasing processing lower grades from the processing of storage at the finish of the mine life , with the goal of cash flow and  to improve profitability of the mining project. 

Exploration on Rainy River Gold Project began in 1967 with Noranda, International Nickel Corporation of Canada, Hudson Bay Exploration after that by  Development and Mingold resources until operating in 1989.  The Ontario Geological Operating survey geological mapping in 1971 and again in 1987 to 1988 in connection with a rotasonic overburden drilling program. 

Nuinsco began to conduct exploration activities on location between 1990 and 2004. In June 2005, Rainy River to Ream acquired a 100% interest in the project from Nuinsco. Nuinsco drilled from 1994 to 1998 to a series of widely spaced reverse circulation (RC) drill holes fifteen kilometers far, Nuinsco a series of diamond drill program completed to assess the mineral potential of the anomalies that led to the original discovery of the 17 zone in 1994

After acquisition in 2005 Rainy River Resources key sections relogged the historic core on the property drilled, and then enter all the data into a GIS database.

Geology And Mineralization In Rainy River project

Rainy River project consists of several multiple volcanogenic-style gold deposits situated within the Late Archean Wabigoon Subprovince of Ontario. Local stratigraphy comprises a series of tholeiitic mafic volcanic rocks structurally overlain by calc-alkalic dacitic metavolcanic rocks that host the bulk of gold mineralization in the district.

Mineralized zones generally follow the regional northwesterly strike and southerly dip of stratigraphy. The largest of these, the ODM / 17 Zone extends 1,600 meters along strike, 975 meters down dip (open at depth), and has a true width of 200 meters.

Three main types of gold mineralization have been auriferous sulfide ¬ ± quartz stringers and veins in felsic quartz phyric rocks (ODM / 17, Beaver Pond, 433 and HS zones), quartz-ankerite-pyrite shear veins in mafic volcanics (CAP /: Rainy River identified South zone) and sulfide-containing silver-enriched quartz veinlets in dacitic tuffs and breccias (Intrepid zone).

Identified most of the gold mineralization to date in the sulphide occurs stringers and veins within the felsic quartz bearing rock phyric. In a fourth type of mineralization of copper-nickel-platinum minerals occurs a little, young mafic-ultramafic intrusion (34 Zone) within the main cluster of gold and silver deposits located. All deposits Demonstrate a certain degree of deformation, with the exception of copper-nickel-platinum-bearing type.

Exploration Potential Rainy River

The Rainy River project represents one of Canada’s newest emerging gold districts. The Rainy River was explored for the first time for nickel sulphide mineralization in the mid-1960s. The final recognition of district gold potential in 1988 and led to the discovery of gold mineralization of stratiform auriferous volcanogenic style sulphide deposits.

So far, exploration efforts have been delineated become 3.8 million ounces of gold reserves is plus additional 2.7 million ounces of measured and indicated resources. As the project advances toward its mid-2017 target for the start of commercial production, New Gold continues to focus on the discovery of additional gold resources with the potential to enhance and extend the commercial life of the project.

Video Rainy River Gold Project New Gold Inc

Bullion British Gold Coins

One of the best collections  and known in most of gold coins in the world is the classic collection of British gold coins or Gold sovereigns. With an exciting and different history, British gold coins  constitute a coin collection that are highly sought after by numismatists and collectors. British Sovereigns have surge in more recent are in high demand among most investors rather than collectors.

British Sovereign coins were minted by King Henry VII of England for the first time in the year 1489th its value was 1 pound sterling , also known as twenty shillings. However, because gold coins are produced as a form of official destination and not in the form circulate in general, then it is not given the nominal label stamped on the coin.

While Henry the Eight “ruled purity, for Sovereigns was lowered twenty-two carats (92% purity), which created a new standard of what is today called” Crown Gold “, a title still used today in both the UK and the United States. The content of their gold was reduced a few times until it was fixed at 7,322 grams, and in other words 0.2354 oz

The British Royal Mint has released various additional denominations of gold sovereigns, including 1 / 2 Sovereign released with an official value of 10 shillings (1/2 pound), double sovereigns with a nominal value of two pounds and 5x sovereigns with an official value of five pound sterling. 

Then the Mintfor in 2009, the first time was released 1/4 Sovereign coins with an official value of five shillings. It is obvious that the nominal value does not imply true value at the present time. This is a British gold coins were widely produced until the First World War, when the pound was removed from the gold standard. Until 1932, Gold Sovereigns were minted strictly at local mints in some commonwealth countries, specifically in Australia , Canada, India and South Africa, and production ceased until 1957.

Then Sovereigns produced again starting in 1957, Until the year 1982, sovereigns were minted as circulated bullion, but around at the year 1982 to 1999 production only as proofs for numismatists. Since 2000, Sovereigns have been marked again as bullion coins whose value depends primarily on their weight in gold. 

As mentioned earlier, British gold coins have an official value. Their true value is dictated both by the current market price, how much gold is in them and unstable numismatic value that varies massively depending on which coin is and how much in demand. 

Gold coins recently should in theory cost, influenced by the market value of their weight and a minimum premium, but can sell for much more. Throughout history, British gold sovereigns were often removed from circulation by the Royal Mint and their gold content remolded into new coins.

There were also buybacks of coins that had lost some of their weight in circulation, and were replaced full weight Sovereigns. Since so much transformation of Ancient coins took place, Ancient British gold coins often are very rare and of high value to numismatists.

British Sovereigns are because of their historical and cultural character affected greatly. Collectors very fond a Sovereigns because of history and rarity, their have tremendous numismatic value. But Ancient British sovereigns are likely unsuitable for people who do not want to invest in gold 

This type of investor is better off buying gold coins, because they are not so interested in aesthetics from numismatic coins. Recently marked Sovereigns with a better choice for people.

However if buying bullion sovereigns as a form investor, one drawback that may arise from British gold coin is the average gold content of 7.322 grams, and not written on the coin.  This could make Sovereigns less liquid than a 1 oz. Coin, especially outside the UKwhere British Sovereigns are widely known. They can be sold to gold dealers because they are familiar with them.

Video British Britannia Gold Coin 1 Oz