Reunion Gold reports high grade channel sampling results and launches drilling program at Dorlin Project in French Guiana
TSX VENTURE: RGD
LONGUEUIL, Quebec, July 24, 2019 (GLOBE NEWSWIRE) -- Reunion Gold Corporation (TSX-V: RGD) (the “Company”) is pleased to provide an update for the Dorlin gold Project located in French Guiana.
Highlights of work for the current exploration program include:
- Channel samples with 3.42 g/t gold over 33.0 meters and 2.92 g/t gold over 29.0 meters at Nivré South Zone of the Nivré deposit.
- Definition of over seven kilometers of new chargeability anomalies in six target areas outside of the existing resources footprint, increasing the potential for further gold discoveries.
- Launching of a 7,000-meter drill program focusing on induced polarization chargeability and gold-in-soil anomalies, as part of a gold resource expansion program.
A program of systematic sampling of outcrops and road cuts confirmed the presence of high-grade gold zones in the Nivré deposit footprint. The best results are from channels along the walls of a tourmaline-silica-pyrite cliff and similar outcrops in this South Zone of the Nivré deposit (Figure 2). This sector of Nivré South Zone was previously tested by historical drill holes 96-01, 96-03, 96-27 and 96-33 (key intersections shown in Figure 2). Channel results are presented in Figure 2 and Table 1.
Highlights of these results include:
- 3.42 g/t gold over 33.0 meters
- 2.92 g/t gold over 29.0 meters
- 1.55 g/t gold over 16.0 meters
- 1.41 g/t gold over 7.3 meters
Results from the 2018 induced polarization (“IP”) geophysical survey previously announced on December 6, 2018, demonstrated that the Nivré deposit gold-bearing silica-tourmaline-pyrite rocks respond well to IP surveys and produce a strong chargeability high with coincident resistive anomalies (Figure 1). IP anomalies were identified extending for over 4 km from the northernmost drill intersection at the Nivré deposit into the Roche d’Olon and Seven Kilos prospects, indicating that gold mineralization may extend for at least that distance to the north and over the 500 meters between the Nivré deposit East and West Zones. The survey had also identified a new IP anomaly over 2 km in length at the d’Artagnan prospect (Figure 4).
In view of these encouraging results, the IP coverage was extended in 2019 with an additional 48 line kilometers of gradient array IP (using the same contractor to ensure consistency) with line spacings of 200 or 400 meters and covering the majority of soil anomalies outside the Nivré deposit area, and the Roche d’Olon - Seven Kilos prospect areas (Figure 1). This additional coverage outlined new anomalies, as follows:
- A new 1.25-km-long IP chargeability anomaly west of the d’Artagnan prospect.
- A large IP chargeability bull’s eye (220 by 200 meters) immediately south of the Nivré West Zone.
- A new 1.4-km-long IP chargeability anomaly south of the Nivré deposit West Zone and west of the Nivré deposit South Zone / THR North prospect.
- Two 1.7-km-long parallel NNE-SSW trending chargeability anomalies extending the main Nivré chargeability anomaly into the Nivré South Zone and the THR North prospect.
- One 1.6 by 0.6-km chargeability anomaly between the Cema North and Jadfar prospects.
A program of deep auger is testing gold distribution in colluvium and upper saprolite material. So far, 67 auger holes were completed with an average depth of 5.4 meters and a total length of 363 meters, with 373 samples assayed (Figure 3). The samples were usually 1-meter in length and the best intercept was 6.37 g/t gold over 1 meter at the THR North (West) prospect. Results of this auger program are assisting in the positioning of initial exploration drill holes in the THR North prospect area.
Reunion Gold is launching a drilling program consisting of approximately 3,000 meters of core drilling over 21 holes averaging 150 meters in length, as well as 4,000 meters of reverse circulation (RC) drilling over 80 drill holes averaging 50 meters in length (Figure 4). The objective is to expand gold resources by identifying additional gold mineralization both at the periphery of the Nivré deposit and at various adjoining prospects. The program by zone/prospect is as follows:
- Seven Kilos prospect with three core holes and up to 21 RC holes.
- Roche d’Olon prospect with two core holes and up to 15 RC holes.
- Nivré East Zone with a single core hole.
- “Gap” (zone between Nivré East and West Zones) with four core holes and five RC holes.
- D’Artagnan prospect with three core holes and up to 16 RC holes.
- D’Artagnan West prospect with up to 17 RC holes.
- THR N (East) prospect – a possible southern extension of Nivré South Zone, with three core holes and nine RC holes.
- THR N (West) prospect with up to 12 RC holes and five core holes
Quality analysis and quality control
The Company has implemented a quality assurance and quality control (QA/QC) program and chain of custody protocols for all its sampling programs. Certified standards and blanks are respectively inserted at every 20 samples on average, while a duplicate sample is inserted about one per 25 samples for channel and drill samples, resulting in the insertion of about 9 to 13% of control samples depending on the types of samples. In addition, blanks are inserted after any visually identifiable high-grade mineralization to check for and minimize any potential contamination during laboratory preparation. The samples are analyzed for gold by fire assay with an atomic absorption finish on 30‐gram charge of pulps by the FILAB-AMSUD laboratory in Surinam. Samples above 10 g/t gold are systematically re‐analyzed with a gravimetric finish. FILAB-AMSUD is an accredited laboratory for quality procedure according to ISO 9001(2008) and ISO/IEC 17025.
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. Mr. 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.
The Dorlin Gold Project
The Dorlin Project covers an area of 84 km² in French Guiana, located 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, 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 and can acquire an additional interest of 5% for a consideration to be based on the NPV in the feasibility study. The Exploitation Permit covering the Dorlin Project held by Auplata SA is subject to renewal by the French mining administration.
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", "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 estimate of mineral resources which may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues, the timing and results of exploration programs, the potential mineralization, potential expansion of the resources, 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 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 a 75% 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, renewal application process, regulatory approvals or permitting delays. 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’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 – Dorlin IP chargeability gridded data, showing the Nivré deposit outline, gold-in-soil 200 and 400 ppb contours in red, topography and rivers as a background, and showing the locations of Figures 2 and 3.
Figure 2 – Results from channel sampling at Nivré South Zone including the significant intervals of historical drill holes. Location of map extent shown in Figure 1.
Figure 3 – Results of deep auger sampling at THR North prospect, plotted on topography contours and IP chargeability anomalies. Location of map shown in Figure 1.
Figure 4 – Planned core and reverse circulation drill holes plotted on topography contours and IP chargeability anomalies.
Table 1 – Assay results from Nivré South Zone channel sampling (channel samples are treated as drill holes)