Rupert Resources recommences drilling and provides exploration update for Pahtavaara Project in Central Lapland Greenstone Belt
Rupert Resources Ltd (“Rupert” or “the Company”) provides an exploration update following the closure of its CAD7.4 million financing on November 30, 2018. Rupert has recommenced diamond drilling, targeting near-surface extensions to known mineralisation at the fully-permitted Pahtavaara mine and mill in the Central Lapland Greenstone Belt (“CLGB”) of Northern Finland. Rupert is also progressing its base-of-till drilling programme with two rigs focussed on defining new gold and base metals anomalies across its contiguous 290km2 regional licence holding. Rupert has allocated 75% of its 2018/19 exploration budget to the regional campaign with the balance on near mine resource work.
James Withall, Chief Executive of Rupert Resources said “Rupert made considerable technical advances through 2018 at its Pahtavaara Project, including completion of a new resource, which confirmed that mineralised system at Pahtavaara is significantly larger scale than previously considered; and a new geological interpretation showing potential for the discovery of significant orogenic gold deposits in the region. On the corporate front Rupert has raised over CAD12 million from supportive shareholders in two non-brokered private placements and completed the acquisition of two properties in Central Finland as well as adding to its contiguous land position in Central Lapland. Rupert is now well financed to advance new exploration targets.”
For full release and diagrams please use URL below: