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Rainbow Resources’ (TSX: RBW, OTCQX: RIINF) David Johnson, President, Focused on Making Gold, Graphite and Silver Discoveries in US and Canada

on 4/16/2013

David Johnson, the President of Rainbow Resources (TSX: RBW) at PDAC

David Johnson, the President of Rainbow Resources (TSX: RBW; OTCQX: RIINF), stopped to speak with Metals News at the recently held PDAC 2013 conference about the progress of his junior exploration and mining company.  With prospects in both Canada and the US, Rainbow Resources is working in two mining-friendly jurisdictions to bring a variety of metals – gold, silver as well as graphite – to the market. 

Currently, the company has been expending their resources to work towards a gold or silver discovery at one of their two properties located in British Columbia or Nevada.  Diamond drill and reverse circulation programs have been the focus of their activity, with holes being completed at the Big Strike Project in the West Kootenays and another drill program at Jewel Ridge Property in Nevada.  Additional prospecting has been completed at the West Kootenay’s project in British Columbia which has not only gold available, but silver and flake graphite as well.  The Jewel Ridge project, located in Nevada, has gold and silver assets in the ground.

The Big Strike project has a gold and silver resource that includes eight properties with historical values based on past work completed on the International, Gold Viking and Ottawa. The Rainbow Resources graphite project based at Slocan Valley is comprised of 40 square kilometers, which is just southwest of the Big Strike project.  This area features the only natural flake graphite producer in the western side of North America.  This project has the potential to become a world class graphite resource for the region.

 

The company features many experienced staff members that have been leading the organization to discoveries.  David Johnston, the President of the company, is also the founder of Braveheart Resources Canada, which was acquired by Rainbow Resources.  With experience as an underground hard rock miner, Johnston spent the majority of his career in the insurance business as the founder of Capital Benefits Corporation.  Said Johnston, “I was born and raised in a mining community in northern Manitoba near a copper mine that had been in operation since the 1920’s.” Though not formally trained, Johnston did work in the business for quite a while.  He said, “With my father working in the smelter I knew enough to be dangerous.”  Instead of following in his father’s footsteps, Johnston used his business savvy to begin an insurance company that is still in operation today.  He said, “I had a long successful career in insurance.  I still have a brokerage.”  After working in insurance for 25 years, he was looking for a new challenge in his career.  He decided to go back to his mining roots and began by finding land to explore.  Said Johnston, “I was looking for an opportunity.  I optioned 17 square miles around high grade silver mines.”  He said, “That started Braveheart Resources which became Rainbow Resources with Brian Murray and Jim Decker.  I was made President and have been helping to run the company for the last two years.” 

In addition to Johnston, the company boasts several people with extensive backgrounds in the resource sector.  Brian Murray, the CEO of the company, has more than twenty years of experience in resources and investments.  In addition to his CEO duties with Rainbow Resources, Murray is also the President of Nebu Resources.  He is an asset to the company with his extensive financial background.    Jim Decker, VP Operations & Technical Services has more than forty years of experience in mining, including senior management roles, consulting, operations and engineering. The CFO of the company, Alex Falconer CA, has extensive experience as a Chartered Accountant in the financial business where he worked for Smith, Nixon & Company, Ernst & Young and Hyde Houghton.

Johnston believes that this mix of people will help the company to succeed over the long term.  He said, “The most important thing about Rainbow is the people that we have.  There is an old saying, ‘our product is metal but our strength is our people.’  We have a great group of professionals.”

The quality and experience of the people that are currently working for Rainbow Resources has led them to initial success with their projects.  Said Johnston, “We have had good results with our early exploration programs.”  As more exploration initiatives are put forth, the company is continuing to use the same team of individuals to move their projects forward.  Johnston said, “On our current exportation programs we are using the same people. “

Why should investors take a look at Rainbow Resources for a multi-metals play in mining-friendly Canada and the US?  Johnston believes that their results speak for themselves.  He said, “The results from our company are one reason.”  In fact, the company has already had a find at one of their projects.  He said, “We have a find in our gold site.  We have two ounces over a 1.9 meter range.”  The other efforts have proven to be successful during their exploration drill program.  Johnston said, regarding their progress on the Big Strike Project and the Jewel Ridge Project, “All of our other holes hit impressive intercepts.”  That said, Johnston and the Rainbow Resources team still have a considerable amount of work to do on their projects in order to explore them fully.  He said, “We still have more to do.  We will go back to work on the properties in the next five or six weeks.” Said Johnston, “On our Jewel Ridge property, we have a solid JV partner.  We are still working near a Barrick mine (~400,000 ounces) on one side and another deposit with reserves of about 900,000 ounces.  We are smack dab in the middle of these two companies.  We will be back drilling there in the summer.”

 

 

 

Rainbow Resources

http://www.rainbowresourcesinc.com

Rainbow Resources Inc.
65 Queen St. West
Suite 510
Toronto, Ontario
M5H 2M5

Investor Inquiries:

Tel: 1-403-701-2781
Email: info@rainbowresourcesinc.com

 



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