January 28, 2021 – Rupert Resources Ltd (“Rupert” or “the Company”) reports new drill results from its Ikkari prospect, the focus of its ongoing 60,000m exploration programme at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland (figure 1).
The mineralised strike length at Ikkari is now at least 650m in total (figure 2) with mineralisation on all sections intersected to a depth of 300 to 500m. The drilling reported today increases maximum intersected vertical depth of mineralisation by 75m to 480m in the east (hole 120119) and by 100m to 320m in the west (holes 120100 and 120122). In the central section, the higher grade mineralised zone now extends to 320m depth within a broader mineralised envelope of almost 400m depth.
Highlights
* highlights only – see tables 3 and 4 for details
James Withall, CEO of Rupert Resources commented “Drilling continues to expand the mineralised system at Ikkari with a coherent higher grade component emerging in the central part of the mineralised body, which remains open. Importantly, we can continue to drill on a broad spacing given the continuity of these very wide zones of consistent grade. We are still far from confirming the limits of the discovery and with drilling ramping up to three rigs in Area 1 and a strong balance sheet, we are well positioned to increase activity on this best-in-class, new grass roots discovery that was made just 8 months ago.”
For full release including images and tables please follow link below
Rupert Resources Ltd (“Rupert” or “the Company”) provides an exploration update and reports new drill results from its ongoing exploration programme at Area 1, a 5km long highly prospective section of a regional domain-bounding structure, 20km of which is contained within Rupert’s 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland (figure 1).
Since commencing exploration activities at Area 1 in January 2019, Rupert Resources has identified and drilled six new gold occurrences, including the significant scale Ikkari discovery. Base of till (“BoT”) sampling is continuing to identify further new gold anomalies that will be drill-tested in the months ahead. This release highlights several significant intercepts drilled at the end of 2020 as part of the continuing regional exploration program.
The exploration plan for the 2021 calendar year includes up to 60,000m of diamond drilling across the Pahtavaara Project including Ikkari, existing and new Area 1 targets and at the mine (figure 2).
Highlights
James Withall, CEO of Rupert Resources commented “The results reported today continue to highlight the district scale mineralisation potential at Area 1, which only represents around 5% of Rupert’s total 425km2 land package in Northern Finland. The success rate of drilling at Area 1 is very compelling, demonstrating the potential for a large gold mineralising system that we expect will continue to yield further new discoveries of scale. In 2021 we will continue with our target generation program as well as progressing our inventory of new discoveries at Area 1 (including Ikkari) and at the Pahtavaara mine to a resource. Metallurgical test work and environmental studies will run in parallel to ensure timely economic evaluations.”
For full release including images and tables please follow link below
Rupert Resources Ltd (“Rupert” or “the Company”) reports new drill results from its ongoing exploration programme at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland.
The results reported extend the strike length at Ikkari to at least 650m with mineralisation now believed to extend to a vertical depth of at least 400m (a 50% increase on the previous deepest intercept of 274m). Further to this, more results from the central section of the Ikkari discovery continue to demonstrate both the high-grade potential and broad widths of mineralisation.
Highlights
Highlights only above. See table 3 for detailed results
James Withall, CEO of Rupert Resources commented “These new results from our initial step-out drilling to the east show that the true extent of the Ikkari mineralising system is yet to be defined. Drill holes on three separate traverses have successfully intersected mineralisation over significant widths, up to 160m away from previously reported results and at depths previously untested. The strike at Ikkari has been increased by almost 50% since the first step-out holes were drilled in June with weighted average grade of the intercepts almost 25% higher. Figure 2 in this release shows how dramatically the discovery has evolved in just the first 6 months of drilling. We are now drilling potential depth extensions at Ikkari from the north and will report this along with results from the regional targeting program as assays become available.”
For full release including tables and images please follow link below
Rupert Resources today reports the results of preliminary metallurgical test work on two representative samples from the Ikkari Discovery, part of its 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland. The results showed that up to 99.5% of gold could be recovered using conventional processing methods.
Highlights
James Withall, CEO of Rupert Resources said “The testwork reported today was undertaken as part of our systematic plan to fully understand the economic potential of the Pahtavaara Project. These metallurgical results are another indication of the favourable technical characteristics and growing economic attractiveness of the new Ikkari discovery. We continue to work on expanding the mineralised envelope at Ikkari and the onset of winter conditions is now allowing drilling of areas which have not been accessible since the discoveries of Heinä South and Ikkari earlier in the year.”
For full release including summary of results and table please follow the link below
Rupert Resources Ltd (TSX-V: RUP) (“Rupert” or “the Company”) reports new drill results of a further six holes from its ongoing exploration programme at the Ikkari discovery – part of the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland.
The Company has confirmed extension to 290m depth of the central part of the Ikkari discovery (as identified to date) as well as demonstrating further broad zones of mineralisation in the east, with continuity of grade in these broad zones of mineralisation persisting towards surface, above previously reported results. Furthermore, multiple very high-grade mineralised gold zones have been identified.
Highlights
* highlights only – see tables 3 and 4 for details
James Withall, CEO of Rupert Resources commented “We continue to expand the mineralised envelope and the extremely high-grade results today over good widths at the eastern extent of the drilled strike of 550m demonstrate the robust nature of the Ikkari mineralising system. The higher-grade component at Ikkari is now shown to persist to at least 290m vertical. Drilling continues to test further step-outs at depth and to the east.”
For full release including images and tables please follow link below
Rupert Resources Ltd (“Rupert” or “the Company”) reports new drill results from its ongoing exploration programme at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland.
The Company has confirmed high grades and scale of intercepts across the gold-hosting structural zone at the Ikkari discovery. The new results released here demonstrate that the broad thickness of mineralisation, as well as the high grades, persist across the entire zone (as identified to date).
Highlights
* highlights only – see tables 3 and 4 for details
James Withall, CEO of Rupert Resources commented “These exceptional new results from Ikkari indicate a further increase in the grade and thickness of mineralisation across a confirmed strike extent of 550m. We have filled the gap between western and eastern drilling at 80m sections, as well as increased the depth by 50m to 265m vertical. Drilling is ongoing with the aim to increase the scale of the Ikkari discovery both along strike and at depth, assays are pending for 18 more holes.”
For full release including tables and images of new mine drilling please follow the link below
Rupert Resources Ltd (“Rupert” or “the Company”) reports its financial results for the three and six months ended August 31, 2020 and reports further drill results and resulting geological interpretation from in-mine exploration drilling at the 100%-owned Pahtavaara mine in the Central Lapland Greenstone Belt, Finland.
James Withall, CEO of Rupert Resources commented “The Company is very well funded following the equity financings in July and is advancing its strategy to demonstrate the potential value of all its assets. Whilst the 50,000m drill program at Ikkari and other new discoveries continues, during the quarter ending August 31, 2020 we also received new drill results from the Pahtavaara mine which aimed to test an updated geological model. The results confirmed that mineralisation remains open in a number of directions and at depth and we will test this further in 2021.”
Operating highlights
The work program at Pahtavaara is designed to identify and evaluate the mineral potential contained in the Pahtavaara licence area, including in the vicinity of the Pahtavaara mine. In July 2020 Rupert commenced a 40,000m to 50,000m diamond drill program to further evaluate six new discoveries previously made in an area within the Pahtavaara licence package known as Area 1 (including Ikkari).
Base of till (“BoT”) sampling continues across the Pahtavaara licence area, with circa 11,000 samples collected to end-August 2020 over geophysical anomalies of interest and this program has been extended to continue until mid-2021. Diamond drilling will be undertaken at new targets generated from this program with the aim to have completed a first pass assessment of the licence area within the coming 12 months.
Following the completion of a targeted drilling program at the Pahtavaara mine completed in May 2020, an updated geological model has been developed for the Pahtavaara deposit, recognizing a previously unidentified trend to mineralisation. Given this development, it has been concluded that further drilling should be carried out prior to updating the Mineral Resource Estimate at the Pahtavaara mine and a diamond drill program of circa 10,000 metres is planned for the first half of calendar year 2021, to be conducted from both surface and underground.
In August the Company concluded a joint-venture agreement with Trillium Gold Mines Ltd (“Trillium”) regarding the Gold Centre property in the Red Lake district in Ontario, whereby Trillium will have a participating interest in the joint venture (a “Participating Interest”) of 80% and Rupert will have a 20% carried Participating Interest. In order to maintain its 80% Participating Interest, Trillium will be required to spend CAD $2,000,000 per annum in each of the first five years and CAD $500,000 in each subsequent year. Further, Trillium will issue to Rupert 500,000 common shares in Trillium upon the start date of the joint venture and on each anniversary thereof for the subsequent three years, for a total of 2,000,000 common shares.
Financial highlights
During the six months ended August 31, 2020, the Company spent $5,750,665 (6 months ended August 31, 2019 – $3,071,459) on its exploration projects. As of August 31, 2020, Rupert held cash or cash equivalents of $32,441,855. The Company recorded a net loss and comprehensive loss for the three months and six months ended August 31, 2020 of $(1,113,292) and $(2,172,836) respectively (three months and six months ended August 31, 2019 – $(1,221,874) and $(2,528,154) respectively) and a net loss per share for the three months and six months ended August 31, 2020 of $(0.01) and $(0.01) respectively (three and six months ended August 31, 2019 – $(0.01) and $(0.02) respectively).
New mine drilling
Further to the last reported mine drilling of 8,858m (results reported on May 21, 2020), 13 holes for a total of 1,657m were drilled as part of a follow up drill program at the Pahtavaara mine site, with the results received during the quarter.
For full release including tables and images of new mine drilling please follow the link below
Rupert Resources Ltd (“Rupert” or “the Company”) reports new drill results from its ongoing exploration programme at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland.
The Company has demonstrated further scale to the significant gold-hosting structural zone at the Ikkari discovery. The new results released here also demonstrate the significant grade potential of Ikkari, with higher grade zones developing within a broad mineralised envelope. The target was identified using base of till sampling at Area 1, a 5km long highly prospective section of a regional domain-bounding structure (figure 1), 20km of which is contained within Rupert’s contiguous land holding. Three diamond rigs are currently active at Ikkari, targeting areas that could expand the currently identified envelope of mineralisation.
Highlights
* highlights only – see tables 3 and 4 for details
James Withall, CEO of Rupert Resources commented “Ikkari continues to demonstrate increasingly elevated grades of gold mineralisation that persist over broad widths. Significantly, the holes reported today show that the +100m wide mineralisation already outlined in the western sections in fact also persists eastwards, and with higher grades. Drilling is ongoing with the aim of showing increased strike extent to the east and further expand the broader mineralised envelope.”
For full release including tables and images please follow the link below
