Rupert Resources is a Canadian based gold developer and exploration company that owns 100% of the fully permitted Pahtavaara gold mine, located in the Central Lapland Greenstone Belt in Northern Finland. The area also hosts Agnico Eagle’s 7Moz Kittila mine and significant Ni-Cu-PGM polymetallic deposits in the form of Boliden's Kevitsa mine and the Anglo American’s Sakatti Project. Rupert Resources has claims to a continuous 124km2 land package in the center of this region with B2Gold (through a JV with Aurion Resources) and S2 Resources also holding tenements contiguous to the Pahtavaara property.

 Pahtavaara has been in production for 15 out of the last twenty years, beginning in 1996. The mine was originally developed as an open pit before moving underground in 2004 with access by ramp. Production peaked at 37,000oz and existing mill capacity is over 1,400 tonnes of ore a day. The mine has a track record of low operating costs with underground mining by longhole methods in good ground conditions and due to the free milling nature of the gold mineralisation.

 Since acquiring an interest in the Pahtavaara property, Rupert has completed an initial 3,000m exploration drilling program which identified significant high grade mineralisation to the west of the existing mine development, in the recently discovered Karoliina orebody, and also in the new the “North Flank” zone. A second phase of exploration on the property, including: further diamond drilling, chip sampling of open pits, trenches and underground horizons, IP geophysics as well as sampling of soils and till. The company’s plan is to grow reserves and return the asset to production in the near-term.

 

Latest News

Rupert Resources Announces Closing of CAD$7.7 Million Convertible Debenture Financing

TORONTO, ONTARIO--(Marketwired - Sept. 6, 2016) -

Rupert Resources Ltd. ("Rupert" or the "Company") (TSX VENTURE:RUP) is pleased to announce that it has completed its previously announced non-brokered private placement of convertible debentures ("Convertible Debentures") for gross proceeds of CAD$7,707,500 (the "Private Placement").
"The Company thanks its supportive investors, will now turn its focus to completing the acquisition of the permitted Pahtavaara gold mine and is pleased to announce resumption of exploration drilling," said Brian Hinchcliffe, President and CEO of the Company.


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