Reunion Gold reports high-grade drilling assay results from the Boulanger Gold Project
TSX VENTURE: RGD
LONGUEUIL, Quebec, June 20, 2018 (GLOBE NEWSWIRE) -- Reunion Gold Corporation (TSX-V:RGD) (the “Company” or “Reunion Gold”) is pleased to report assay results from its drilling program at the Boulanger Project in the north-central part of French Guiana.
Drill intersections highlights:
- Hole CB-18-01A: 2.85 meters grading 5.22 g/t gold
- Hole CB-18-03: 7.50 meters grading 2.91 g/t gold
- Hole CB-18-08: 6.10 meters grading 12.23 g/t gold
- Hole CB-18-10: 8.41 meters grading 8.62 g/t gold
The objective of this initial drilling program was to define the geometry and extent of known gold mineralization. The program consisted of twelve diamond drill holes for a total of 1,025 meters, completed at the end of May. The program was focused on a two square kilometers area in the northeastern corner of the Central Bief concession (Figure 1). This area was explored by ASARCO in the 1990’s and by Compagnie Minière de Boulanger (“CMB”) in 2016 for a total of 5,379 meters. Total historical drilling within the Project area amounts to 13,300 meters. CMB, the current titleholder of the Boulanger Project, also mined primary gold mineralization and alluvial placer in the Doyle area and continues to mine alluvial gold downstream in the concession.
A table of composited assays results from the entire drilling program is presented below.
Table 1 - Composited Assay Results
|Doyle 2||CB-18-02A||No significant results|
|Doyle 2||CB-18-04||No significant results|
|Doyle 1||CB-18-07||No significant results|
|Nilson||CB-18-11||No significant results|
|Doyle 2||CB-18-12||No significant results|
Five of the nine drill holes testing the Doyle 1, 2 and 3 prospects intersected gold mineralization hosted by quartz veins with pyrite and tourmaline in shear zones hosted by mafic volcanic rocks. Visible gold was identified in hole CB-18-01A. Two drill holes (CB-18-08 and CB-18-09) tested the Crique Filon prospect, located five hundred meters east of the Doyle prospect. Visible gold was identified in hole CB-18-08.
The location of the core holes on all the prospects can be seen in Figures 2 to 5 (View Figures) and is listed in Table 2 (View Table).
This initial drilling program confirmed the presence of significant gold mineralization in the northeastern corner of the Central Bief concession. These drilling results are being interpreted and a better understanding of the local controls of gold mineralization is emerging.
Reunion Gold plans to continue the comprehensive exploration program on the Boulanger Project area by integrating and expanding the geological data generated by previous operators with the objective of defining a gold resource. The planned work, which is expected to be completed in the next quarter, includes the following:
- Relogging and re-assaying the core drilled in the 2000’s by Cambior/Iamgold on the Carapa permit (STM prospect), which identified several mineralized zones. This work is in progress and results should be available by the end of July;
- Completing an heliborne magnetometric and radiometric survey over the whole Boulanger Project area. This survey should define geological structures and lithological contacts related to gold mineralization; and
- Completing induced polarization surveys over the Doyle and STM prospects, where there is a known association of gold mineralization and sulphides.
The Boulanger Project
The Boulanger Project consists of 78.2 km² of mining concessions, namely Central Bief, Devez North and South and Boulanger and the 24 km² Carapa exploration permit located approximately 40 km south of the capital Cayenne and readily accessible by paved and laterite roads. The Boulanger Project is underlain by Proterozoic rocks of the Armina and Paramaca volcanosediments intruded by granites and metamorphosed to greenschist facies. The Project area is cut by various shear zones characterized by intense deformation and hydrothermal alteration. Geological mapping and soil geochemistry indicate numerous anomalous zones that require follow-up exploration. Gold is associated with quartz veins, pyrite and locally intense tourmaline alteration.
Reunion Gold has an option to acquire a 100% interest in the Boulanger Project from CMB by spending US$4 million on exploration over three years and other conditions described in the July 27, 2017 news release.
Reunion Gold adheres to a strict quality assurance and quality control program with regard to core handling, sampling, sample custody and analytical procedures. Drill core samples were shipped to the MS Analytical in Guyana for fire assays with AAS and gravimetric finish. Protocols include blank and standard samples field, coarse and pulp duplicates. The MS Analytical laboratory in Guyana is certified ISO 9001 under IAS and by Interdek.
Dr. Dominique Fournier, EurGeol., the exploration manager for Reunion Gold in French Guiana and a qualified person pursuant to National Instrument 43-101, is responsible for the work being done at the Boulanger Project. Carlos Bertoni, P. Geo., a consultant to Reunion Gold and a qualified person pursuant to National Instrument 43-101, has reviewed and approved the scientific and technical data contained in this press release.
Asarco and CMB drilling results reported in Figures 3, 4 and 5 are historical in nature. Reunion Gold cautions readers that it has not yet verified the accuracy of the historical drilling results, but believe that the figures were generated from reliable sources. Although the drilling results are considered relevant, they have not been confirmed.
This press release contains certain forward-looking information as defined in applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Specifically, this press release includes forward-looking information regarding the results of drilling programs, potential mineralization, and future plans and objectives of the Company. The assumptions made by the Company in preparing the forward-looking information contained in this news release, which may prove to be incorrect, include, but are not limited to: the expectations and beliefs of management; that the Company will receive required permit to conduct exploration activities. Forward-looking statements involve known and unknown risks, uncertainties and other factors including risks associated with the conduct of exploration activities, gold price volatility, having the funds required to conduct the planned exploration activities and to meet the conditions under the option agreement, renewal application process, regulatory approvals or permitting delays. This cautionary statement qualifies all forward-looking statements herein. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
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 press release.
About Reunion Gold
Reunion Gold Corporation is a Canadian exploration company focused on acquiring, exploring and developing gold projects in the Guiana Shield, South America. The Company has entered into agreements to acquire an interest in the Dorlin, Boulanger and Haute Mana gold projects in French Guiana and in the Waiamu, Aremu and Arawini gold projects in Guyana. The Company’s shares are listed on the TSX Venture Exchange under the symbol ‘RGD’.
REUNION GOLD CORPORATION
Réjean Gourde, President & CEO
David Charles CFA, Investor Relations
Telephone: +1 450.677.2585