Rupert Resources Delineates Further Gold Anomalies At The Pahtavaara Project
TSX VENTURE: RUP
TORONTO, ON / ACCESSWIRE / January 21, 2019 / Rupert Resources Ltd ( TSXV: RUP) (FSE: R05) ("Rupert" or "the Company") is pleased to provide an exploration update for the Pahtavaara Project where base of till (BoT) sampling continues to delineate further gold anomalies in close proximity to the fully-permitted Pahtavaara mine and mill in the Central Lapland Greenstone Belt ("CLGB") of Northern Finland. Drilling targets are emerging at the NE Extension and Arttu areas where further infill sampling with one rig is underway. The second rig has commenced sampling targets in the south west extents of the licence holding.
James Withall, Chief Executive of Rupert Resources said "The continuing positive results from Rupert's BoT program are very encouraging, especially given their proximity to the mine infrastructure. On completion of the current infill sampling, diamond drilling programs will be planned to begin later this winter. "
Base of till programme
Rupert has completed approximately 1500 points of the planned 8,500 point BoT programme that began in November with the aim of outlining targets both near to the mine and across its 290km2 licence for diamond drilling in 2019. Further to the previously announced Paskamaa East target the continuing BoT sampling has defined a number of anomlaies that extend over a strike length of 1.5km to the east-north-east. These extend from Paskamaa East to the NE Extension area and further into a new area called Arttu. Importantly the strike of this anomalism conforms to the S2 foliation direction that has been identified at the Pahtavaara mine and through our regional structural interpretation.
The Paskamaa East, NE Extension and Arttu anomalies lie within an large structural feature, identified from magnetics and BoT geology, with the anomalism broadly related to the orientation of the structural deformation. The core of this feature comprises ultramafic lithologies and appears to control the location of the anomalism in a corresponding magnetic low. It is expected that further multi-element results in the coming weeks will provide more insight into the geological setting of Paskamaa East and related anomalies
Further BoT sampling is underway to both extend the grids completed to date and infill anomalous zones to better define drilling targets. A number of smaller anomalies have also been identified in the Karoliina, Western Extension and south extents of the Arttu areas which will also be followed up in later infill BoT programmes
Figure 1. Near mine base-of-till sampling at Pahtavaara
Review by Qualified Person, Quality Control and Reports
In compliance with National Instrument 43-101, Mr. Mike Sutton, P.Geo. is the Qualified Person who supervised and approved the preparation of the scientific and technical disclosure in this news release.
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.
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 has an Inferred mineral resource at a 1.5 g/t Au cut-off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (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 Osikonmaki; 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.
For further information, please contact:
Chief Executive Officer
Head of Corporate Development & Investor Relations
Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004
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 28, 2018 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.