Advanced Exploration and Near Term Production Potential in Finland
The Company owns 100% of the Pahtavaara gold mine and mill with 297km2 of exploration permits and concessions located in the Central Lapland Greenstone Belt of Northern Finland.
Pahtavaara previously operated between 1996 and 2014, mining almost 450koz in three periods of ownership. Since acquiring the mine in 2016, Rupert has undertaken extensive new exploration and geological modelling utilising the significant amount of historical drill data and 35km of underground tunnelling that exists for the deposit. This new approach demonstrated that the mineralized system at Pahtavaara is significantly larger than previously thought and typical of many other greenstone hosted deposits.
In mid-2018 the company announced its first re-appraisal of the regional geological setting of the Pahtavaara project and highlighted prospectivity for hosting further orogenic gold deposits beyond the Pahtavaara mine. A detailed ground gravity survey over 200km2 of the licence, new interpretation of existing geophysical data and new drilling culminated in the discovery of new incidences of gold mineralisation at Area 1, 25km from the Pahtavaara mill, in May 2019.
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.