Toronto, Ontario. Rupert Resources Ltd. (“Rupert” or the “Company”) (TSX Venture Exchange: RUP, FSE: R05) reports results from a further 10,817m of diamond drilling, comprising 30 holes from surface and 44 holes from underground at the Pahtavaara Mine in Northern Finland’s emerging Central Lapland Greenstone Belt. This drilling targeted two of the five zones (Karoliina/Wilhelmiina and North Flank West, see Figure 1) identified as areas of near mine mineral potential in close proximity to existing infrastructure. Other zones with either assays pending or to be drilled over the next few weeks include the high grade North Flank East Zone, Samurai Zone in the lower levels of the mine workings and Lansi to the west of the main pit.
James Withall, Chief Executive of Rupert said “The highlights of the results released today are a number of high grade intersections close to existing mine infrastructure as well an indication of a parallel zone to the north of the Karoliina and Wilhemiina zones. Whilst drilling remains focussed on targets close to the mine infrastructure, a reconnaissance fieldwork program has begun on the broader Pahtavaara property package. Initial prospecting work and geochemical sampling are underway to followup on targets identified from a review of historic sampling data and the interpretation of recent geophysics programs.”
Of the 74 holes reported today, 44 intersected mineralisation of over 1 gram per ton of gold (“g/t Au”). The average drill hole length of this program of drilling was 100 – 150m targeting tighter centers and aimed to define mineralised blocks for stope planning.
Karoliina and Wilhelmiina
Karoliina and Wilhelmiina are located in the western area of the mine and were discovered in the last few years of Pahtavaara’s previous operation. Drilling targeting the known Wilhelmiina zone (30m north and parallel to Karoliina) intersected 16.1 g/t Au over 1.0m in 117344 in a previously open area providing further evidence of the continuity of this zone. In Karoliina significant mineralisation was drilled in the Karoliina -10 zone where 117334 intersected 25 g/t Au over 6m (incl. 62.7 g/t Au over 1.9m) and 117331 where 6.7 g/t Au was intersected over 14m (incl. 32.7 g/t Au over 1.7m). This portion of the Karoliina zone has been drilled at tight centres over an area of approximately 80m by 70m. Drilling at the Karoliina -40 zone targeted a high grade block in the eastern Karoliina plunge zone; drilling identified a 30m by 20m block. The best result from this drilling was 11.7 g/t Au over 4.8m (incl. 30.6 g/t Au over 1.3m). These intersections are within 20m of existing mine infrastructure.
A number of underground drillholes have been completed to follow up on historic intercepts identified in the database to the north of the known Karoliina and Wilhelmiina horizons. Hole 117331 intersected 7.2 g/t Au over 1m approximatley 90m north from the main Karoliina zone, identifying a potential new parallel structure. The intersection was found within a 20m envelope of intense carbonate and quartz viening which is often coincident with gold mineralisation elsewhere in the deposit. This intersection is located 30m southwest of an historic intersection of 17.9 g/t Au over 2m (hole 112619) and we are further encouraged by the intercept in hole 117359 of 6.5g/t Au over 1.0m that is approximately 75m along strike.
Three longer holes were drilled below the western extension of the Karoliina zone and did not return significant results although the characteristic veining was present; it is thought they intersected outside of the higher grade plunging zones identified to the west and in the near surface horizons and may have not reached their target due to a potential change in the dip of the Karoliina zone at depth.
North Flank West
The North Flank West “NFW” zone is located to the north west of the northern most open pit. Previous drilling in North Flank West has defined multiple mineralised horizons outside the historically defined resource blocks. This latest surface definition drilling of the North Flank West zone has yielded some further encouraging results in 117041 with 5.4 g/t Au over 4.2m from 186m, 117044 with 4.1g/t over 3m from 109m and 117038 with 10.8 g/t Au over 2m from 40m and 4.7g/t over 2.1m from 70m. These intersections fall outside areas of previously defined mineralisation in areas consistent with Rupert’s North Flank interpretation of Pahtavaara mineralisation.
The 4.7 g/t Au intersection in hole 117038 is located 25m along strike north east of a historical resource block. This intercept in 117038 is also located between intersections of 9.1 g/t Au over 1.0m and 4.1 g/t Au over 1.2m (in hole 116062), and 2.7 g/t Au over 1.5m (in hole 109821). The high grade, 10.8 g/t Au intersection in 117038 appears to be located 23m along strike outside another resource block to the north and is approximately only 12m from the northern pit where mineralised material can be seen in the pit wall. The intersections of 5.4 g/t Au over 4.2m (hole 117041) and 4.1 g/t Au over 3.0m (hole 117044) are located between two historic resource blocks. A further significant intersection of 12.3 g/t Au over 1.2m in hole 117046 is located 30m below and along the dip of another historically defined resource block.
The drilling in the NFW zone continues to demonstrate the potential for the definition of new mineralised zones in close proximity to the historic working and contribute to the continuing improvement in the understanding of the Pahtavaara deposit.
An initial three-week reconnaissance program has now been completed by a team of prospectors. This preliminary work is being followed up over the summer through a targeted geochemical sampling program. The focus of the work is on near mine targets indentified by Rupert’s 2016 IP survey and five targets on the Rupert property where the Sirkka Line (host to over 30 known gold occurances in the Central Lapland Greenstone Belt) intersects a number of potential structures identified by a new interpretation of geophysical data collected by the GTK (Geological Survey of Finland) and previous owners.
Initial remedial underground work has now been completed allowing drilling to take place from the lower levels of the mine. This has created drilling locations to target the Samurai zone, the lowest extension of the main orebody.
Appointment of Managing Director of Finland Operations
The Company is also pleased to announce the appointment of Jukka Nieminen as Managing Director of Finland Operations. Jukka joined Rupert in March 2016 and was instrumental in the acquisition of the Pahtavaara Project for the Company. Jukka is a geologist by background with over 20 years of experience in the mining industry. He started his career with Outokumpu at the Forrestania Nickel mines in Western Australia before returning to Finland to work as a mine geologist at the Pahtavaara and the Orivesi Gold mines. After a number of years working on a series of high profile exploration projects in Finland, Jukka joined Northland Resources as a geologist before moving into a business development role responsible for Northland’s activities in Finland. Prior to joining Rupert Resources, Jukka was General Manager of Belvedere Mining’s Hitura nickel mine and CEO of the Belvedere’s Finnish operating subsidiary. Jukka holds an Msc in Geology from the University of Turku.
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
Vice President Corporate Development
|Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 (416) 848 6865
This press release contains statements which constitute ”forward-looking statements”,including thestatements with respect to those that address potential quantity and/or grade of minerals, potential forminerals and statements regarding the plans, intentions, beliefs and current expectations of the Companywith 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.
Cautionary Note Regarding Forward Looking Statements 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.
Figure 1. Plan view of Pahtavaara showing Karoliina/Wilhelmiina and North Flank West “NFW”
Table 1. Pahtavaara drill results (weeks 15 – 23)
*Unless specified in this press release, true widths (TW) cannot be determined from the information available No upper cut-off grade was applied. Surface holes 117036, 117037, 117048, 117050, 117052 to 117054, 117056, 117058, 117061 to 117064 as well as underground holes 117327, 117328, 117345 to 117347, 117350 to 117352, 117354, 117356, 117363 and 117365 to 117368 did not intersect mineralisation with grades >1g/t Au.