The area of the North Rainbow occurrence is underlain by strata of the Upper Triassic Stuhini Group intruded by Late Triassic to Early Jurassic quartz monzonitic rock of the Copper Mountain Plutonic Suite. Rock in the Rainbow area is reported to consist of massive light grey limestone, limy sandstone, grits and pebble conglomerate.
The Rainbow mineralization was first discovered by B.C. Geological Survey personnel during a regional mapping program in 2003. Mapping and sampling by Paget Resources in 2005-2006 lead to the discovery of high-grade gold-silver mineralization in the Rainbow basin. Mineralization consists of structurally controlled pyrite-arsenopyrite in brecciated and silicified black chert and thin-bedded silicified limestone.
Structurally controlled brecciation and silicification is associated with these fold/fault structures. White fine-grained silica healed epithermal breccias and open space lined with drusy quartz are widespread. Gold mineralization has a strong association with zones of fine-grained arsenopyrite, associated with these breccias. Sphalerite, galena and chalcopyrite are also present in minor amounts.
Two holes from the same setup were drilled on the North Rainbow target by Paget Resources in 2011. At North Rainbow, two drill holes were drilled from the same platform. Drill hole RN-11-01 targeted a sheeted swarm of steep, east-west striking banded quartz veinlets about 5 meters wide that has given gold values up to 10 grams per tonne gold on the surface. A broad zone of gold mineralization was encountered throughout the hole with gold values up to 2.66 grams per tonne gold and averaging 0.759 gram per tonne gold throughout the hole (91.43 metres) (Assessment Report 32564). Drill hole RN-11-02, the vertical hole, was designed to see if the banded quartz veinlets widened at last sample ended in 0.273 gram per tonne gold (Assessment Report 32564). The banded quartz veinlets observed at surface were never encountered in either drill holes.
See Mary (104G 018) for related details and common work history elements.