TORONTO, ONTARIO–(Marketwired – Jan. 18, 2017) – Rupert Resources Ltd. (“Rupert” or the “Company“) (TSX VENTURE:RUP) reports results from a further 1,607m of diamond drilling from 12 holes into the high grade North Flank East zone of the permitted Pahtavaara Mine in Northern Finland’s emerging Central Lapland Greenstone Belt. Seven of these 12 holes drilled, intersected gold mineralization with four returning grades of over 10 grams per ton of gold (“g/t Au“), including 245g/t Au over 1.0m (see detailed drilling results below).
“The 27km of I/P work just completed provides excellent drilling targets, including two holes to kick off underground drilling this week (see the accompanying Figures) near the North Flank zone west and east,” said Brian Hinchcliffe, CEO. “The advantages of the proximity to existing infrastructure in the North Flank and this emerging high grade area, give it high priority in our operational focus for both mine development and drilling.”
North Flank East is located close to the hinge of the Pahtavaara fold and is around 200m from existing development. These 2016 holes are found in close proximity to a number of high grade holes from previous campaigns with three high grade narrow zones delineated in section with an average grade expected to be several multiples higher than the previously released historical resource grade of 2g/t (see Rupert’s September 8, 2016 press release). The intersection of 245g/t Au is located in a 22m area that contains a previously-released intersection which contained abundant fine visible gold and returned 432g/t Au over 1.0m at a depth of 136-137m (hole 116011) (see Rupert’s September 8, 2016 press release), and a drill hole from previous operators (105176) that returned 52.1g/t Au over 1.0m. The 432g/t Au is located 100m below an intersection of 295g/t Au over 1.65m in hole 199316 drilled by previous operators.
These intersections are located along the North Flank East zone within a 400m gap that is a newly-recognized limb of a large fold structure, the south limb of which constitutes the vast majority of mining to date. The 245g/t Au intersection contained 20% dolomite veining surrounded by biotite magnetite halos. Another intersection, 15m lower in the same hole, yielded grade of 11.6g/t Au with fine visible gold hosted in magnetic carbonate veining with sulphides was followed by a broken shear zone. Another intersection of 19.8g/t Au over 1.0m in 116048 also intersected this high grade zone in this phase of drilling. It is located 39m down-dip from the 245g/t Au intersection. This high grade zone is open in two directions and appears to be 140m horizontal, and 200m down an easterly plunge. An intersection of 11.6g/t Au over 0.8m is likely a splay off of the high-grade zone.
A second zone was intersected that appears subparallel to the first and located 100m to the west, and appears to have been mined by a small open pit. An intersection of 18.7g/t Au over 1.0m from 116047 was also returned, and is located below the bottom of the pit and open below the intersection for 175m where underground drilling from previous operators intersected 7.9g/t Au over 2.0m (hole 112563).
A third zone is located parallel to the other two and located 20m from the second zone.
Underground drilling to expand this area and test continuity has now commenced. As well as high grade drill intersections listed above, the 2016 trenching program also revealed visible gold in a narrow carbonate vein in the same area that returned an assay of 33.3g/t Au over 1.5m and 19.1g/t Au over 1.0m. This vein appears to be high grade.
Rupert also completed a grid over the main mine area totalling 27 line kilometers of Induced Polarization (“I/P“) geophysics in the last few months of 2016. This method of geophysics delineates horizons of high/moderate conductivity where sulphide minerals that are associated with gold or base metals can give a signal, and resistivity anomalies which can represent zones of alteration associated with gold mineralization. A number of lines were run over known mineralization showed up as strong anomalies. Similar anomalies have been shown to exist along trend, outside of the limits of drilling, and in many other areas of the property that was covered proximal to the mine. The areas covered only represent 5% of the greater property position of 124km2 (based on 19 lines with an average length of 1.4km along a 3km transect east west). Several conductive anomalies show up as folds, corroborating the idea that there is a northern flank to a big fold that was only mined very locally on the south. These targets will be tested by drilling over the next few months.
Details of these recent drilling results are as follows:
Unless specified in this press release, true widths (TW) cannot be determined from the information available. No upper cut-off grade was applied. Holes 116052, 116053, 116054, 116056 and 116058 did not intersect mineralizations of more than 1g/t Au.
Intercepts reported above are hosted by amphibolitized komatiites. The principal geologic control in the area is a linear structural corridor that trends east-west, forms multiple folds, and dips steeply to the north on the south side and steeply south on the north side. The mineralized zone identified on Rupert’s Pahtavaara property is characterized by hydrothermal alteration and mineralization within various phases of pervasively altered komatiites. Mineralization remains open at depth along the entire zone. The hydrothermal alteration and the Au-bearing veins associated with it are deformed. Because they were competent rocks (massive amphibole), they resisted deformation. They are therefore less deformed than the adjacent talc-chlorite schists. This implies early brittle deformation followed by ductile deformation. Hydrothermal fluids entered by fractures and faults, which explains why some alteration fronts are almost perpendicular to the schistosity. Gold occurs mostly as free gold, a smaller part is associated with magnetite.
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 the preparation of the scientific and technical disclosure in this news release. Samples are assayed by CRS/Actlabs Finland at Takatie 6, 90440 Kempele Finland, who have ISO9001 sample prep and ALS Minerals at Sodankyla, Finland and Pitea, Sweden. All core is under watch from the drill site to the core processing facility. Samples are assayed using cyanide leach methods with AAS detection of Au. The Company’s QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at appropriate intervals. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. Core recovery in the mineralized zones has averaged 99%.
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 (see the Company’s November 9, 2016 press release). The Company also holds a 100% interest in the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake Mining Division of Ontario.
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 constitute “forward-looking statements”, including the statements with respect to those that address potential quantity and/or grade of minerals, potential for minerals and statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. 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 29, 2016 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
To View Figure 1 – Pahtavaara base of till, mag and IP conductivity anomalies (7km EW) please click the following link: http://media3.marketwire.com/docs/Pahtavaarabase.jpg
To View Figure 2a – North flank drilling of IP anomolies (2km EW) please click the following link: http://media3.marketwire.com/docs/2aNorth%20flank.jpg
To View Figure 2b – North flank drilling of IP anomolies please click the following link: http://media3.marketwire.com/docs/2bNorthflank.jpg