Reunion Gold Reports Further Drilling Results and a New Discovery from its Matthews Ridge Manganese Project
31 October 2012 - 11:55PM
Marketwired Canada
Reunion Gold Corporation (TSX VENTURE:RGD) ("Reunion or the "Company") is
pleased to provide an update on its exploration activities at the Matthews Ridge
manganese project in Guyana, South America.
As previously announced, the Company has concluded its planned drilling program
of bedrock mineralization, completing a total of 47,570 meters of diamond
drilling in 735 holes and 17,361 meters of reverse circulation drilling in 283
holes. The average length of all holes drilled is approximately 60 meters.
Reunion has to date received complete assay results from 844 drill holes, of
which 685 were previously released. New results from 149 diamond drill holes and
10 reverse circulation drill holes done in 2012 are reported in this press
release. Reunion expects to announce the balance of the assay results by
mid-November 2012.
Reunion has also completed a drilling program to sample the mineralized tailings
of the previous operation with 108 holes done with a manual Banka rig. The
sampling program of the manganiferous detrital material continues and is
expected to be completed in November. One hundred and ninety pits have been dug
among the various target hills, giving an average detrital thickness of
approximately 1.5 m.
An independent "Qualified Person" (as defined under Canadian National Instrument
43-101 ("NI 43-101")) is currently doing the geological modeling of manganese
mineralization for target Hills 1 to 9, with the objective of completing an
initial resource estimate compliant with NI 43-101 by December 2012.
Highlights of the most significant new assay results are presented in Table 1.
Refer to Appendix 1 for complete new results.
Table 1 (1)
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Manganese Intersection
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Target Total
Hole Hill length (m) From (m) To (m) Length (m) Grade Mn (%)
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Diamond drill holes
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11MR0044A H9N 78.50 0.00 17.00 17.00 14.66
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11MR0054A H5C 56.00 14.00 38.00 24.00 17.17
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11MR1002 H7 89.70 52.40 77.50 25.10 13.04
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11MR1004 H7 101.40 1.60 23.90 22.30 22.02
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11MR1014 H7 106.90 18.40 57.30 38.90 15.12
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12MR1148 H6 30.40 1.40 26.85 25.45 12.84
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12MR1155 H6 34.30 7.20 29.00 21.80 22.42
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12MR1157 H6 28.40 0.00 21.30 21.30 17.60
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12MR1159 H6 33.80 5.84 20.30 14.46 14.81
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12MR1166 H9E 70.40 40.10 57.00 16.90 20.08
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12MR1171 H9C 51.40 21.60 40.45 18.85 25.86
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12MR1176 H9C 38.30 4.95 24.30 19.35 16.16
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12MR1180 H9C 38.60 0.00 26.80 26.80 18.43
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12MR1181 H9C 69.20 41.00 59.60 18.60 17.67
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12MR1198 H3 47.20 0.00 20.50 20.50 13.81
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12MR1218 H3 59.70 0.00 19.60 19.60 17.62
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12MR1226 H3 72.40 0.00 16.60 16.60 14.91
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12MR1248 H1 63.60 0.00 27.50 27.50 19.09
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12MR1250 H1 53.70 0.00 15.70 15.70 12.45
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12MR2053 H5E-ext 61.90 25.20 55.40 30.20 13.11
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12MR2054 H5E-ext 63.00 0.00 33.34 33.34 15.90
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12MR2055 H5E-ext 50.20 8.28 44.50 36.22 14.16
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12MR2056 H4 58.40 0.00 15.00 15.00 15.49
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12MR2072 H4 45.40 0.00 20.20 20.20 13.19
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12MR2088 H5E-ext 86.80 46.50 62.00 15.50 12.32
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12MR2091 H5E-ext 71.20 41.32 71.20 29.88 12.21
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12MR2092 H5E-ext 87.10 6.50 40.00 33.50 15.69
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69.14 87.10 17.96 14.51
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12MR2123 H5W 84.70 13.70 33.80 20.10 12.57
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59.70 84.70 25.00 16.23
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12MR2127 H5C 68.60 17.90 35.32 17.42 17.82
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Reverse circulation drill holes
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12MR3007 H5W 66.00 35.00 62.00 27.00 12.81
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12MR3029A H9C 50.00 30.00 47.00 17.00 12.87
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12MR3060 H8 43.00 0.00 22.00 22.00 13.47
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12MR3095 H7 40.00 2.00 34.00 32.00 13.48
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12MR3127 H2 55.00 0.00 15.00 15.00 15.09
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(1) Minimum intersection length: 14 m; minimum average grade: 12% Mn;
maximum interval dilution: 2 m
Drilling results continue to indicate an excellent correlation with trench
intersections, confirming that mineralization persists regularly throughout the
saprolite zone and continues as proto-ore in the fresh rock. Maps showing the
nine target hills and location of mineralized zones in relation to the drill
holes are provided in Appendixes 2 and 4. Drilling has been done to the
saprolite-fresh rock interface. The Company intends to define resources in the
saprolitic, detrital and tailings materials, which are amenable to simple
earth-moving extraction.
Discovery of eastern extension
Mapping of the rocks to the east of target Hill 1, at the extreme east of the
footprint area, discovered that the sedimentary sequence continues hosting
manganese mineralization for another five kilometers, thus extending the total
project footprint length to 20 km (see Appendix 3). Abundant sub-outcrop marks a
nearly continuous mineralized zone at least 50 m wide from which 47 "grab"
samples give an average grade of 27% Mn. Reunion did two mechanized trenches to
expose the mineralized sequence. One trench intersected five manganese-bearing
units over a width of 56 m and channel sampling yielded one interval assaying 7%
Mn over 15 m. This new target is called 'Arakaka Junction' and Reunion plans to
systematically explore it by trenching and drilling. This target will not be
included in the forthcoming resource estimate.
Project description
The Matthews Ridge Project consists of four Prospecting Licenses covering an
area of 185 km2 located in northwest Guyana, in and around the former Matthews
Ridge mine. The Company also holds two Permissions for Geological and
Geophysical Surveys ("PGGS") for manganese over an area of 14,970 km2
surrounding the four Prospecting Licences. Manganese ore was mined from 1960 to
1968 by Union Carbide and exported via railroad and a fluvial port. Mining was
done on five of a series of nine hills extending for 15 km and striking
northeastern-southwestern (see Appendix 2).
Manganese mineralization is hosted by the Barama Group sedimentary sequence of
Proterozoic age and consists of typical saprolitic and detrital deposits formed
as a result of supergene enrichment of manganese-rich sediments under a tropical
climate. The saprolitic deposits are formed by manganese oxide and hydroxide
minerals occurring along the crest of hills and are related to the weathered
lateritic profile, reaching 100 m below surface. The detrital deposits are
formed by manganese nodules derived from the erosion of lateritic duricrust
material and form "blankets" overlying the target hills.
Quality assurance and quality control
Diamond drilling was done using HQ-diameter casing and triple-tube core barrel
to maximize recovery. Half of the core was used for sampling at regular 1.5 m
intervals. Reverse circulation drilling was done with four-inch casing, sampling
at every meter and splitting the rock chips once in the field and processing an
entire half sample. Banka drilling of tailings is being done with six-inch
casing and sampling at every meter. Sampling of detrital material is being done
by 30 cm-wide vertical channels in pits. Standard reference materials, internal
standards, blanks and duplicate samples have been used to control laboratory
accuracy and precision. Core sample preparation was done by Activation
Laboratories Ltd. and ACME Laboratories at their facilities in Georgetown,
comprised of crushing to minus 2 mm and pulverization passing 200 mesh, followed
by XRF assays for manganese and other relevant oxides at their laboratories in
Canada. Sample preparation and XRF assay of reverse circulation drill samples
were done by FILAB Guyana Laboratories on site using the same methodology
described above. Samples of saprolitic, detrital and tailings material are being
processed by a scrubbing / jigging pilot plant operated by FILAB under the
supervision of G Mining Services Inc., as part of the metallurgical testing of
mineralized materials.
Carlos H. Bertoni, P. Geo., a qualified person as defined under the terms of NI
43-101, has verified the data and approved the technical information contained
in this press release.
About the Company
Reunion Gold Corporation is a mineral exploration company focused on the
acquisition, exploration and development of mineral properties in the Guyana
Shield of South America. The Company through its 100% indirectly owned
subsidiary Reunion Manganese Inc., has assembled a large, strategic land
position to conduct exploration and development activities for manganese in the
North West District of Guyana. The Company also has the right to acquire a 100%
interest in a gold exploration project located in the Lely Mountain area in
Eastern Suriname.
Manganese is the fourth largest metal consumed in the world, behind iron,
aluminum and copper. It is a key component in steel and iron production with no
viable substitute.
Additional information about the Company is available on SEDAR at www.sedar.com
and at www.reuniongold.com.
Forward Looking Statements
This press release contains forward-looking information. Although the Company
believes in light of the experience of its officers and directors, current
conditions and expected future developments and other factors that have been
considered appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on them because
the Company can give no assurance that they will prove to be correct. Forward
looking information in this news release includes statements regarding the
results of the exploration activities and interpretation of such results, the
nature, potential size and continuity of the mineralization system, the timing
and completion of future work programs, mineral resource estimate and geological
modelling. Forward-looking information involves known and unknown risks,
uncertainties, assumptions and other factors that may cause actual results or
events to differ materially from those anticipated in such forward-looking
information. The forward-looking statements contained in this press release are
made as of the date hereof and the Company undertakes no obligations to update
publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by
applicable securities laws.
Appendixes 1 to 4 are available at the following address:
http://file.marketwire.com/release/rgd_1031.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Reunion Gold Corporation
James Crombie, President and Chief Executive Officer
+1 450.677.2585
+1 450.677.2601 (FAX)
info@reuniongold.com
www.reuniongold.com
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