Rupert Resources Ltd (“Rupert” or “the Company”) reports new
drill results from its ongoing exploration programme at the 100%
owned Pahtavaara Project in the Central Lapland Greenstone Belt,
Finland.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200820005408/en/
Location of Area 1 discoveries and base
of till (BoT) drilling (Photo: Business Wire)
The Company has demonstrated further scale to the significant
gold-hosting structural zone at the recently identified Ikkari
discovery. The target was identified using base of till sampling at
Area 1, a 5km long highly prospective section of a regional
domain-bounding structure, 20km of which is contained within
Rupert’s contiguous land holding. Two rigs are currently active at
Ikkari, targeting areas that could expand the currently identified
envelope of mineralisation.
Highlights
- Hole 120065 intersected 2.1g/t gold over 31.0m from
53m including 23.7g/t gold over 1m. The hole targeted near
surface mineralisation and extends the known strike eastwards.
- Hole 120066 intersected two broad mineralised zones,
2.0g/t gold over 71.2m from surface and 1.2g/t gold over
130.5m from 166m including 25m at 3.0g/t gold. This was a
scissor hole drilled between previously reported holes 120038 and
120042 in the western part of the discovery, demonstrating the very
broad width and grade of the mineralisation. The hole ended in
mineralisation.
- Hole 120067 intersected 1.3g/t gold over 174m from
surface including 12m at 2.6g/t gold with the hole ending in
mineralisation, extending the known limits 100m to the north
of previously reported holes including 120042 (1.8g/t gold over
137.2m).
James Withall, CEO of Rupert Resources commented “These initial
holes represent just 1200m of the planned 50,000m regional
programme and continue the success of previous drilling at the
significant Ikkari discovery. The mineralised envelope of the
system remains open in all directions and further results will be
released as they become available in the weeks ahead.”
Summary
Drilling recommenced at the Pahtavaara Project in mid-July (see
press release dated June 29, 2020) and both rigs are currently
working on defining the scale of the Ikkari discovery. The Ikkari
mineralisation remains open in all
directions and base of till drilling continues eastwards
along the regional trend towards the Saittä discovery, 5km to the
east, which is believed to lie along the same mineralising
structure as Ikkari (figure 1). These initial holes at Ikkari are
intended to further increase the understanding of the controls on
mineralisation identified in previous drilling and outline the
potential width of the system. As the program progresses,
wide-spaced drilling will be undertaken between the completed holes
in the east and west as well as testing extensions to the trend of
base of till anomalies along strike that now extends in excess of 1
km (figure 2).
Table 1. Highlighted new assay results from Ikkari
Hole ID
From (m)
To (m)
Interval (m)
Grade Au g/t
120065
53.0
84.0
31.0
2.1
120066
14.8
86.0
71.2
2.0
166.0
296.5 (EOH)
130.5
1.2
including
229.0
254.0
25.0
3.0
120067
10.1
182.5 (EOH)
172.4
1.3
including
50.0
62.0
12.0
2.6
Notes to table: No upper cut-off grade was applied. A 0.4g/t
lower cut-off applied. Unless specified, true widths cannot be
accurately determined from the information available. vg – visible
gold present in core. EOH – End of Hole.
Table 2. Collar locations of Ikkari target drill
holes
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
EOH (m)
120038
453797.3
7496814.3
224.6
179.1
-48.5
136.3
120042
453897.0
7496832.7
223.8
180.0
-49.3
157.0
120059
454215.2
7496772.7
225.3
327.8
-49.9
247.5
120060*
454287.2
7496721.4
228.0
340.0
-50.0
40.9
120061
454287.2
7496721.4
228.0
330.7
-50.7
359.2
120062**
454251.1
7496859.7
224.7
0.0
-50.0
45.6
120063
453770.2
7496739.7
224.1
357.0
-50.5
248.5
120064
453770.4
7496679.3
224.0
0.9
-50.27
197.5
120065
454250.7
7496800.2
225.1
2.2
-50.2
252.0
120066
453850.6
7496740.4
223.8
357.9
-50.2
296.5
120067
453850.5
7496800.1
224.2
356.4
-50.7
182.5
Notes to table: The coordinates are in ETRS89 Z35 and all holes
are surveyed at 3m intervals downhole and all core is orientated.
*Hole 120060 collapsed at 40.9m and the collar was re-used to drill
120061. **Hole 120062 collapsed at 45m and has not yet been
re-drilled. New holes in bold.
Mineralisation at Ikkari is characterised by intense alteration
and deformation. Gold is associated with fine-grained disseminated
pyrite within planar quartz-carbonate veins and / or disseminated
in the host rocks, commonly as fine-grained visible gold. Host
rocks observed thus far include sedimentary rocks overprinted by
albite-sericite alteration, and strongly foliated chlorite-altered
ultramafic rocks. A broader, variably mineralised alteration zone
comprising magnetite ± hematite ± tourmaline ± K-feldspar ±
fuchsite is also present. Holes demonstrate strong foliation,
shearing, and veining that is predominantly parallel to the
dominant structural fabric and gold appears to be concentrated
sedimentary intercalations associated with zones of structural
disruption at lithological boundaries, represented by irregular,
cross-cutting vein associations and brittle fracture in
albite-altered rocks. The regional structural data collected so far
suggest a subvertical broad and linear structure, within which,
cross-cutting fractures and possibly folded bedding appear to have
controlled the introduction of gold-bearing fluids and associated
alteration zones.
About the Pahtavaara Project
The Pahtavaara Project is located in the heart of the Central
Lapland Greenstone Belt, Northern Finland where the company owns
the permitted Pahtavaara mine that is on active care &
maintenance and within a contiguous licence package of almost
300km2. The Company acquired the project for just USD $2.5m in 2016
and is undertaking exploration both at the existing mine and across
the region to demonstrate the potential for significant economic
mineralisation.
Area 1 comprises a large part of a structural corridor that lies
between Kittilä Group allochthon to the north and the younger Kumpu
Group basin to the south. The zone is dominated by large E-W to ENE
trending faults which have controlled broad to isoclinal folding
within the sediment-dominated (Savukoski Group) rock package. A
complex network of cross cutting structures has focused multi-stage
fluid flow, with gold mineralisation associated with massive to
fine-grained disseminated sulphides and concentrated at favourable
structural intersections.
Review by Qualified Person, Quality Control and
Reports
Mr. Mike Sutton, P.Geo. Director and Dr Charlotte Seabrook,
MAIG, RPGeo. Exploration Manager are the Qualified Persons as
defined by National Instrument 43-101 responsible for the accuracy
of scientific and technical information in this news release.
Samples are prepared by ALS Finland in Sodankylä and assayed in
ALS laboratories in Ireland, Romania or Sweden. All samples are
under watch from the drill site to the storage facility. Samples
are assayed using fire assay method with aqua regia digest and
analysis by AAS for gold. Over limit analysis for >10 ppm Au is
conducted using fire assay and gravimetric finish for assays over
>100ppm Au. For multi-element assays Ultra Trace Level Method by
HF-HNO3-HClO4 acid digestion, HCl leach and a combination of ICP-MS
and ICP-AES is used. The Company’s QA/QC program includes the
regular insertion of blanks and standards into the sample
shipments, as well as instructions for duplication. Standards,
blanks and duplicates are inserted at appropriate intervals.
Approximately five percent (5%) of the pulps and rejects are sent
for check assaying at a second lab.
Base of till samples are prepared in ALS Sodankylä by
dry-sieving method prep-41, and assayed by fire assay with ICP-AES
finish for gold. Multi-elements are assayed in ALS laboratories in
either of Ireland, Romania or Sweden by aqua regia with ICP-MS
finish. Rupert maintains a strict chain of custody procedure to
manage the handling of all samples. The Company’s QA/QC program
includes the regular insertion of blanks and standards into the
sample shipments, as well as instructions for duplication.
About Rupert
Rupert is a Canadian based gold exploration and development
company that is listed on the TSX Venture Exchange under the symbol
“RUP”. The Company owns the Pahtavaara gold mine, mill, and
exploration permits and concessions located in the Central Lapland
Greenstone Belt in Northern Finland (“Pahtavaara”). Pahtavaara
previously produced over 420koz of gold and 474koz remains in an
Inferred mineral resource (4.6 Mt at a grade of 3.2 g/t Au at a 1.5
g/t Au cut-off grade, see the technical report entitled “NI 43-101
Technical Report: Pahtavaara Project, Finland” with an effective
date of April 16, 2018, prepared by Brian Wolfe, Principal
Consultant, International Resource Solutions Pty Ltd., an
independent qualified person under National Instrument 43-101 –
Standards of Disclosure for Mineral Projects). The Company also
holds a 100% interest in two properties in Central Finland -
Hirsikangas and Osikonmäki; the Gold Centre property, which
consists of mineral claims located in the Balmer Township, Red
Lake, Ontario; and the Surf Inlet Property in British Columbia.
Web: http://rupertresources.com/
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which, other than
statements of historical fact constitute “forward-looking
statements” within the meaning of applicable securities laws,
including statements with respect to: results of exploration
activities, mineral resources. The words “may”, “would”, “could”,
“will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”,
“expect” and similar expressions, as they relate to the Company,
are intended to identify such forward-looking statements. Investors
are cautioned that forward-looking statements are based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made, and are inherently
subject to a variety of risks and uncertainties and other known and
unknown factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
These factors include the general risks of the mining industry, as
well as those risk factors discussed or referred to in the
Company's annual Management's Discussion and Analysis for the year
ended February 29, 2020 available at www.sedar.com. Should one or more of these risks
or uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although the Company
has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such statements. The Company does not intend, and does not assume
any obligation, to update these forward-looking statements except
as otherwise required by applicable law.
APPENDIX
Table 3. New Intercepts at Ikkari
Hole ID
From (m)
To (m)
Interval (m)
Grade Au g/t
120063
30.0
48.0
18.0
0.8
including
35.0
36.0
1.0
2.1
including
46.0
47.0
1.0
2.8
169.0
186.0
17.0
0.5
including
182.0
183.0
1.0
1.1
200.0
204.0
4.0
0.6
including
200.0
201.0
1.0
1.5
215.0
217.0
2.0
1.0
120064
53.3
69.0
15.7
0.6
including
68.0
69.0
1.0
4.7
79.1
81.8
2.7
0.4
129.0
133.0
4.0
0.4
145.0
147.0
2.0
0.5
161.0
169.0
8.0
0.9
including
161.0
162.0
1.0
2.1
120065
53.0
84.0
31.0
2.1
including
54.0
57.0
3.0
5.4
including
71.0
72.0
1.0
23.7
168.0
183.0
15.0
0.4
including
174.0
175.0
1.0
1.5
202.0
205.0
3.0
0.6
120066
14.8
86.0
71.2
2.0
including
25.0
26.0
1.0
4.3
including
27.0
31.0
4.0
4.6
including
40.0
41.0
1.0
7.0
including
45.0
46.0
1.0
6.3
including
48.0
49.0
1.0
7.6
including
67.0
68.0
1.0
5.4
including
76.0
77.0
1.0
7.6
105.0
108.0
3.0
0.7
120.0
121.0
2.0
0.8
133.0
135.0
2.0
0.6
166.0
296.5
130.5
1.2
including
172.0
174.0
2.0
4.7
including
181.0
182.0
1.0
5.5
including
229.0
254.0
25.0
3.0
including
234.0
235.0
1.0
3.2
including
238.0
240.0
2.0
9.3
including
243.0
245.0
2.0
7.4
including
251.0
252.0
1.0
8.6
including
253.0
254.0
1.0
3.3
including
286.0
287.0
1.0
17.8
Table 3. New intercepts at Ikkari continued
Hole ID
From (m)
To (m)
Interval (m)
Grade Au g/t
120067
10.1
182.5
172.4
1.3
including
14.0
15.0
1.0
4.2
including
26.0
27.0
1.0
3.8
including
50.0
62.0
12.0
2.6
including
50.0
51.0
1.0
4.3
including
54.0
55.0
1.0
5.7
including
61.0
62.0
1.0
4.2
including
69.0
70.0
1.0
5.7
79.0
81.0
2.0
3.8
including
91.0
92.0
1.0
14.0
including
128.0
129.0
1.0
3.3
including
142.0
143.0
1.0
3.0
including
150.0
151.0
1.0
8.4
including
153.0
154.0
1.0
3.0
including
165.0
166.0
1.0
3.0
including
175.0
176.0
3.0
3.6
Table 4. Previously reported intercepts from Ikkari
Hole ID
From (m)
To (m)
Interval (m)
Grade Au g/t
120038
25.0
79.0
54.0
1.5
including
35.0
36.0
1.0
4.7
including
65.0
67.0
2.0
5.2
including
71.0
72.0
1.0
5.7
including
75.0
76.0
1.0
3.8
81.0
82.0
1.0
0.4
83.0
84.0
1.0
0.6
92.1
103.0
10.9
0.6
including
96.0
98.0
2.1
1.8
120042
10.8
148.0
137.2
1.8
including
23.0
37.0
14.0
7.1
and including
23.0
24.0
1.0
25.1
and including
27.0
30.0
3.0
10.6
and including
34.0
35.0
1.0
8.4
and including
36.0
37.0
1.0
9.9
including
51.0
52.0
1.0
7.1
including
59.0
60.0
1.0
5.8
including
84.0
85.0
1.0
6.4
including
93.0
94.0
1.0
4.2
including
104.0
105.0
1.0
4.8
including
108.0
109.0
1.0
4.2
including
116.0
119.0
3.0
3.9
153.0
154.0
1.0
0.5
120059
45.0
48.0
3.0
3.3
58.0
69.0
11.0
0.7
121.0
134.0
13.0
15.2
including
127.0
132.0
5.0
36.6
and including
130.0
131.0
1.0
162.5 (vg)
120060*
29.0
30.0
1.0
2.3
120061
167.0
191.0
24.0
0.9
including
173.8
174.0
0.2
20.0
including
174.0
175.0
1.0
2.2
including
189.0
190.0
1.0
2.0
203.0
206.0
3.0
0.7
212.0
233.0
21.0
1.2
including
213.0
217.0
4.0
3.0
273.0
320.0
47.0
4.1
including
290.0
303.0
13.0
11.9
and including
290.0
291.0
1.0
7.0
and including
294.0
295.0
1.0
107.0 (vg)
and including
300.0
301.0
1.0
20.2
and including
301.0
302.0
1.0
8.5
and including
302.0
303.0
1.0
5.3
343.0
350.0
7.0
1.6
including
347.0
349.0
2.0
4.1
EOH
357
359.2
2.2
1.0
Notes to table: Highlighted intersections mentioned in
commentary. Lower cut off grade of 0.4g/t. No upper cut-off grade
was applied. Unless specified, intervals are drill indicated core
length, true widths cannot be accurately determined from the
information available. vg – visible gold observed in core * Collar
of hole (to 40m depth) was re-drilled due to hole collapse. New
drill holes in bold.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200820005408/en/
For further information:
James Withall Chief Executive Officer
jwithall@rupertresources.com
Thomas Credland Head of Corporate Development
tcredland@rupertresources.com
Rupert Resources Ltd 82 Richmond Street East, Suite
203, Toronto, Ontario M5C 1P1 Tel: +1 416-304-9004
Rupert Resources (TSX:RUP)
Historical Stock Chart
From Apr 2024 to May 2024
Rupert Resources (TSX:RUP)
Historical Stock Chart
From May 2023 to May 2024