Toronto, Ontario, Canada
Listed: RUP – TSX-V
R05 – FSE
Rupert Resources Ltd. (“Rupert” or the “Company”) (TSX Venture Exchange: RUP, FSE: R05) reports results from a further 5,159m of diamond drilling from 21 holes from surface and 23 holes from underground. This drilling, which is ongoing, targeted open areas the Karoliina zone on the south flank of Pahtavaara and targeted expansion of the North Flank Zone of the permitted Pahtavaara Mine in Northern Finland’s emerging Central Lapland Greenstone Belt.
Mike Sutton, Director of Rupert said “These new drilling results indicate a thickening of the Karoliina zone and are found adjacent to a high grade 4.5 grams per ton of gold stope that was mined by the previous owners. The zone remains open at depth and to the west. Drilling has also indicated a thicker zone in the North Flank East with a 12 grams per ton of gold over 4m intersection, 50m below the known high grade mineralisation in North Flank East.”
“Mining contractors have commenced working underground, with the initial focus being around the new discoveries close to existing infrastructure in the Karoliina zone,” added Brian Hinchcliffe, Executive Chairman of Rupert. “Mineralisation here is higher grade and open at depth and to the west and underground infrastructure here will allow us to drill at depth and open up several headings ahead of production. The results on the North Flank are encouraging because it provides us high grade optionality.”
New Karoliina -10 high grade zone
Hole 117315 intersected 22.8 grams per ton of gold (“g/t Au”) over 9m at the Karoliina -10 level approximately 5m from an existing mine heading and 35m from an intersection of 5.8 g/t Au over 1m drilled by the previous owner. This zone was mined further east in a high grade stope with an estimated grade of 4.5 g/t Au (significantly higher than the average grade milled over Pahtavaara’s 16 year production history). Intersections of 13.95 g/t Au over 8m (hole 117316 inc. 65.6 g/t Au over 1m), 7.3 g/t Au over 4.9m (hole 117319 inc. 11.1 g/t Au over 3m) confirm the presence of this zone which is open to the west and at depth (see figure 1 below). The drilling has been undertaken at 15m centres over an area of 50m by 80m.
North Flank East
Drill holes 117305 and 117306 intersected several high grade veins, grading up to 12.0 g/t Au over 4m, in the lower levels of North Flank East approximately 50m below the high grade intersection of 432 g/t Au over 1m reported by the Company in its 8 September 2016 press release, and 200m from existing infrastructure. This may represent continuity of the North Flank East plunge zone at depth, and may correlate with an intersection of 7.9 g/t Au over 2m (including 13.6 g/t Au over 1m) at 130m towards the west and below.
North Flank West
Drill hole 117311 intersected 2.99 g/t Au over 19.78m (inc. 16.85 g/t Au over 0.95m) and expands the known envelope of mineralisation. This intersection, is located in an area between two resource blocks, and 10m below, and 10m above from previously-released intersections of 34.3 g/t Au over 2.75m (including 89.4 g/t Au over 1m – hole 116231) and 6.9 g/t Au over 12m (including 58 g/t Au over 1m – hole 116232). The intersections are located only 30m from an access drift. North Flank remains open to the west.
Hole 117024 intersected 3.8 g/t Au over 7.2m (inc. 10.2 g/t Au over 2m) at the bottom of parallel Vilhemiina vien and is open below. Hole 117028 intersected 10.6 g/t Au over 5.35m (inc. 64.7 g/t Au over 0.6m) in the middle of the main Karoliina block to complete 25m centre drilling. Hole 117025 intersected 4.7 g/t Au over 2m at the top of the block, which is open to surface.
Near surface IP target
Hole 117029 targeted near surface mineralisation identified by the new IP survey intersected 3.87 g/t Au over 1m at 13m depth on the South Flank, west of the Main Pit (see figure 2 below).
New Pahtavaara drill results
*Unless specified in this press release, true widths (TW) cannot be determined from the information available. No upper cut-off grade was applied. Hole 117026 drilled in Karoliina West had elevated gold values but less than <1 g/t Au. Five wildcat holes targeting near mine mineralization 117030 to 117034 did not return significant results. These holes were drilled outside of the envelope of known mineralization and were considered high risk. Underground holes 117301 to 117304 and 117307 to 117309 also did not return assays >1 g/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.
For further information, please contact:
Chief Executive Officer
Tel. +44 788 947 8664
Tel. +1 (914) 815 2773
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in thepolicies 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.