Reunion Gold successfully completes historical data validation program which includes assay results of 2.54 g/t gold over 85 meters at the Dorlin Gold Project, French Guiana
TSX VENTURE: RGD
LONGUEUIL, Quebec, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Reunion Gold Corporation (“Reunion” or “Company”) (TSX-V: RGD) is pleased to announce that it has successfully completed its historical data validation program at the Nivré deposit, part of the Dorlin Gold Project in French Guiana.
The validation of historical drill results initially consisted of re-sampling and re-assaying 854 mineralized core intervals from 124 drill holes completed at the Nivré deposit in the 1990s. This re-sampling produced good correlation with the historical values (see press release of June 12, 2018). The Company has now completed the validation program by drilling six core holes and has initiated an 8,000 meters extension drill program. The Company is planning to complete a mineral resource estimate in accordance with Canadian National Instrument 43-101 (“NI 43-101”) by the end of the year.
Nivré Deposit Validation Drilling Program
The validation drilling program consisted in drilling five holes in close proximity (“near twins”) to historical ones, so that entire mineralized intersections could be compared to the historical ones. In addition, a sixth hole was drilled vertically between two historical holes drilled at -60° to test the continuity of the mineralization within the block model. The six holes represent a total of 760 meters. Reunion contracted the services of drilling company based in French Guiana which mobilized two drill rigs to Dorlin and started work in July. Core drilling used HQ-size rods in saprolite and NQ-size rods in rock with half-core samples analyzed by MS Analytical laboratory in Guyana, for gold fire assay, observing full QA/QC and chain of custody protocols.
Highlights of the results of the validation drilling program are listed below. See Figures 1 to 6 for Nivré deposit location map and relevant geological sections:
- 1.72 g/t gold over 62.2 meters in DO-18-144 from 65.8 meters compared with 1.69 g/t gold over 60.2 meters from 59.0 meters in historic hole 97-67.
- 1.92 g/t gold over 18.2 meters in DO-18-145 from 18.8 meters compared with 15.5 g/t gold over 9.5 meters from 18.5 meters in historic hole 97-100; but when assays from both holes are cut to 10 g/t gold, 1.65 g/t gold over 18.2 meters in DO-18-145 compares with 3.92 g/t gold over 9.5 meters from 18.5 meters in historic hole 97-100.
- 1.96 g/t gold over 69.0 meters in DO-18-146 from collar compared with 1.36 g/t gold over 47.45 meters from 13.7 meters in historic hole 97-37.
- 1.37 g/t gold over 17 meters in DO-18-148 from 77.0 meters and 1.76 g/t gold over 24 meters in DO-18-148 from 102.0 meters and compared with 1.31 g/t gold over 47.25 meters from 77.9 meters in historic hole 97-43.
- 2.54 g/t gold over 85.00 meters in DO-18-149 or 2.17 g/t Au over 102.0 meters in DO-18-149 from collar compared with 1.69 g/t gold over 102.5 meters from collar in historic hole 97-104, including some dilution.
See Table 1 and Table 2 for gold intersection composites and for additional information on validation holes.
Mr. Réjean Sirois, Ing., Vice President Geology & Resources for G Mining Services and independent Qualified Person (QP) for the resource estimate chose the historical holes to be duplicated and he has reviewed and approved the drilling results.
The validation drilling results demonstrates that:
- There is very good overall consistency between lithologies and gold mineralization between historical and duplicate holes;
- The geological information from historical drill holes can be reliably used to do a new resource estimate in accordance with the NI 43-101.
Nivré Deposit Extension Drilling Program
The validation drilling program is being followed-up by an additional 8,000 meters of core holes along the Nivré deposit and its northern and southern edges, with the intention of extending the historical mineral resource (see Appendix A – Drill Hole Location Map). A total of 2,120 meters in 15 holes has been completed to date and the balance of the extension drilling program should be completed by year end. The Nivré deposit remains open along both its north and south edges and at depth. Results of the extension drilling program together with the results of the validation of historical samples and historical drilling will be used to complete a current mineral resource estimate of the Nivré deposit in accordance with NI 43-101 by the end of 2018.
Historical samples collected by Guyanor Ressources in the 1990s on the silica-tourmaline-sulphide trend amount to over 1,500 “chip”, “grab” and “channel” samples. A total of 250 of these samples had returned assay results above 1 g/t of gold with up to 162.5 g/t of gold. These samples were not systematically verified and confirmed by Reunion but limited “grab” sampling to the north of Nivré has returned results of up to 38 g/t of gold. “Grab” samples are selective in nature and collected to determine the presence or absence of mineralization. Reunion intends to follow-up on these surface samples as part of the extension drilling program to verify the depth extent and geometry of the surface mineralization.
The Dorlin Project
The Dorlin Project consists of an Exploitation Permit with an area of 84 km² in French Guiana, approximately 180 km southwest of Cayenne, accessible by bush track, small boat and aircraft. The Dorlin mining district has been one of the major artisanal gold producing areas in French Guiana since 1901, when alluvial gold was discovered along the Petit Inini River and the area became famous for producing large gold nuggets. The Project area is underlain by a sequence of Proterozoic intermediate to felsic volcanic rocks belonging to the Paramaca Group that have been extensively deformed/altered and cut by felsic granitoids. Gold mineralization is mainly associated to silica-tourmaline-sulphide alteration zones that are roughly north-south striking over 7 km, steeply dipping and tabular shaped. These alteration zones are contained in schistose rocks related to strong shearing.
Reunion has an option to acquire 75% of the Dorlin Project from Auplata SA by completing a feasibility study and spending a minimum of US$3 million over a period of three years. Reunion can acquire an additional interest of 5% for a consideration to be based on the NPV in the feasibility study.
Dr. Dominique Fournier, EurGeol., the exploration manager for Reunion Gold in French Guiana and a qualified person pursuant to NI 43-101, is responsible for the work being done at the Dorlin Project. Carlos Bertoni, P. Geo., a consultant to Reunion Gold and a qualified person pursuant to NI 43-101, has reviewed and approved the scientific and technical data contained in this press release. Carlos Bertoni also managed the historical exploration work done by Guyanor Ressources in the 1990s.
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 a historical estimate of resources, the timing and results of validation and exploration programs, completion of a resource estimate, 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; that the Dorlin exploitation permit will be renewed; that the Company can access financing to fund its exploration activities; and that the Company will be able to meet the conditions to exercise the option to acquire an 80% interest in the Dorlin Project. 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. There is no assurance that the validation program will confirm the historical estimate; therefore, the historical estimate should not be relied upon. 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
Figure 1: Nivré Deposit Schematic Geology and Drill Hole Location Map
Figure 2: Nivré East Section 4112274N
Figure 3: Nivré East Section 411941N
Figure 4: Nivré East Section 412084N
Figure 5: Nivré east Section 412226N
Figure 6: Nivré West & East Section 411703N
Table 1: Gold intersection composites from the validation drill holes
Table 2: Information on the validation holes drilled at Nivré