Rupert Resources Ltd (“Rupert” or the “Company”) announces that it has published its unaudited, condensed consolidated interim financial statements for the three and six months ending August 31, 2021 and accompanying Management’s Discussion and Analysis for the same period. Both of the above have been posted on the Company’s website www.rupertresources.com and on Sedar at www.sedar.com.
James Withall, CEO of Rupert Resources commented “In a very short-time frame, we have clearly demonstrated our understanding of what has become a significant mineralized district through the delineation of a 3.95Moz baseline resource (49 million tonnes grading 2.5g/t Au) at Ikkari along with a number of further discoveries. As well as progressing our expansion and infill drill program at Ikkari as we move towards a PEA in mid-2022, we continue to apply the same proprietary base of till methodology and understanding that was used to discover Ikkari, with 40% of our 2021/2022 drilling budget allocated to new targets on a 595km2 enlarged land package in the Central Lapland Greenstone Belt. Our work programmes are fully funded for the next two years”
Rupert Resources Ltd. (“Rupert Resources” or the “Company”) announced today that pursuant to the Company’s amended and restated equity incentive plan dated August 4, 2021 (the “Plan”), the Company has granted 301,204 performance share units (“PSUs”) to certain officers and employees of the Company. The PSUs will vest in three tranches based on certain corporate and individual performance objectives and each PSU will convert into up to one common share of the Company, or the cash equivalent thereof, subject to the level of achievement of such performance objectives. Further details regarding the Plan are set out in the management information circular of the Company dated July 8, 2021, which is available on SEDAR at www.sedar.com.
The Company furthermore announces that in accordance with the rules of the Plan it granted a total of 54,000 options to a certain employee of the Company (the “Options”). The Options were granted on September 24, 2021 with an exercise price of $4.30 per share, being the closing price of the Company’s shares on the TSX-V on September 23, 2021. The Options are exercisable for a five-year period from the date of grant, with 1/3rd of the options vesting after 12 months, 1/3rd after 24 months and the remainder after 36 months.
Following the award of the Options, there are 9,006,000 options outstanding under the plan, representing 5.1% of the issued and outstanding shares of the Company.
September 13, 2021 – Rupert Resources Ltd (“Rupert” or the “Company”, TSX-V: RUP) is pleased to announce a maiden National Instrument (“NI”) 43-101-compliant mineral resource estimate (“MRE”) for the Ikkari discovery at the 100% owned Rupert Lapland Project in the Central Lapland Greenstone Belt (“CLGB”) in Northern Finland.
HIGHLIGHTS
James Withall, CEO of Rupert Resources commented: “Today’s maiden resource confirms Ikkari as a multi-million-ounce gold discovery whose value we are unlocking at an accelerated pace. The deposit’s exceptional continuity and proximity to surface, together with the outstanding performance of our Finnish team has allowed us to deliver an initial resource less than eighteen months from the discovery hole, approximately half the industry average. We believe the demonstrated size, grade, cohesive mineralisation and growth potential, combined with non-refractory metallurgy and proximity to infrastructure, positions Ikkari as one of the most high-quality advanced exploration-stage assets of recent years.”
Rupert Resources Ltd (“Rupert” or “the Company”, TSX-V: RUP) reports that it has entered into an option agreement (“Agreement”) with Sakumpu Exploration OY (“Sakumpu”), a 100% held subsidiary of ASX listed, S2 Resources (“S2”) (S2R.ASX) on two exploration licence applications (“Licences”) in the Central Lapland Greenstone Belt, Finland. The Company has also expanded its 100% owned land package through the application of new reservations and exploration licences.
Highlights
James Withall, CEO of Rupert Resources commented “Our core focus remains the exploration and progression of the Ikkari Discovery. However, well-funded commercial exploration is still in its infancy in Central Lapland which has the potential to become a significant new gold camp. Rupert has opportunistically expanded its land package from 124km2 in 2016 to almost 600km2 today. We continue to apply our systematic and disciplined exploration approach to both our existing tenements and to ground which our team in Finland has identified as prospective for multi-million ounce gold discoveries based on their understanding of the regional geology and mineralising events that led to the deposition of Ikkari.”
July 30, 2021
Rupert Resources Ltd (“Rupert” or the “Company”) announces that it has published its unaudited financial results for the three months ending May 31, 2021 and accompanying Management’s Discussion and Analysis for the same period.
Both of the above have been posted on the Company’s website www.rupertresources.com and on Sedar at www.sedar.com.
Operating highlights
The work programs at the Rupert Lapland Project are designed to identify and evaluate the mineral potential contained in Rupert’s expanded 509km2 land package, including the Ikkari discovery and the Pahtavaara Mine. In July 2020 Rupert commenced a 40,000 to 50,000m (subsequently increased to over 60,000m) diamond drill program to further evaluate six new discoveries made in an area within the licence package known as the Rupert Lapland Project, as well as continuing to generate new targets. At the end of June 2021 46,330m had been drilled since May 2020 including 36,020m at the Ikkari discovery. This program will be increased with the aim of expanding areas of known mineralisation and delineating further mineralisation from Rupert’s successful base of till (“BoT”) programme. Drill rigs from local contractors have been secured to execute Rupert work programs for the next two years.
BoT sampling continues across the Rupert Lapland Project, with 14,537 samples collected to end-June over geophysical anomalies of interest.
Further to the drilling at the Pahtavaara Mine reported in October 2020 which inter alia identified high-grade, near surface plunging shoots, as well as potential extensions to mineralisation on the southern flank of the deposit, a further 93 holes for a total of 6,561.5m were drilled as part of the circa 10,000m program A further 1,193m in seven holes have also been drilled at other near mine targets. An announcement by the Company of July 29, 2021 refers.
Financial highlights
During the 3 months ending May 31, 2021, the Company spent $5,947,360 (3 months ended May 31, 2020 – $3,302,462) on its exploration projects. As of May 31, 2021, Rupert held cash or cash equivalents of $14,229,126. Post period the Company raised a further $48,654,000 (before expenses) through concurrent equity financings. The Company recorded a net loss and comprehensive loss for the quarter of $(3,479,066) (3 months ended May 31, 2020 – $(15,860)) and a net loss per share of $(0.01) (3 months ended May 31, 2020 – $(0.01)).
James Withall, Chief Executive Officer of Rupert Resources said, “We are fully funded for at least the next two years and continue to work towards a maiden resource for Rupert’s 100% owned Ikkari discovery, less than 18 months after it was first drilled in Q2 2020. Our goal remains the same namely to highlight the geological and economic potential of the Rupert Lapland Project in its entirety.”
July 29, 2021. Rupert Resources Ltd (“Rupert” or “the Company”, TSX-V: RUP) reports further drill results and geological interpretation from in-mine exploration drilling at the 100%-owned Pahtavaara mine in the Central Lapland Greenstone Belt, Finland.
Highlights
James Withall, CEO of Rupert Resources commented “These new results from the Pahtavaara mine are significant because they show the potential for near surface, potentially open-pit mineable material in immediate proximity to the Pahtavaara mine and mill. Importantly these results provide further evidence of a previously unidentified easterly plunge control on mineralisation. The Pahtavaara mine remains an important asset in the region, as one of only two permitted gold mills, and any new discoveries in the immediate vicinity could add significantly to mine life. Drilling will continue at the mine, Ikkari and our numerous other targets as part of our ongoing exploration program, with the goal of highlighting the geological and economic potential of the Pahtavaara Project in its entirety.”
Rupert Resources Ltd reports new drill results from its Heinä South prospect, located 1km to the north west of the Ikkari Discovery and part of the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland (figure 1).
Highlights
James Withall, CEO of Rupert Resources commented “These new results significantly extend the mineralised system at Heinä South and add continuity to the previously identified high grade mineralisation, with the trend now shown to strike at least 750m with potential to extend to 1km with further infill. We continue to test a number of other targets in the Area 1 system as part of our program to delineate discoveries of scale, some 75% of drill holes in Area 1 have intercepted gold mineralisation and all drilling continues to help refine our geological model in an area with no surface exposure and no drilling prior to Rupert’s initial drill program in 2019. These results show the considerable upside to the resource potential which exists on the Pahtavaara licences beyond Ikkari.”
June 30, 2021
Rupert Resources Ltd (“the Company”) announces the issue of options to acquire shares in the Company (“options”) in accordance with the Company’s Stock Option Plan dated August 27, 2020 (the “plan”).
The Company granted a total of 709,000 options to certain directors, officers, employees and consultants of the Company. The options were granted on June 30, 2021 with an exercise price of $5.00 per share. The options are exercisable for a five-year period from the date of grant, with 1/3rd of the options vesting after 12 months, 1/3rd after 24 months and the remainder after 36 months.
Following the award of the options, there are 11,015,000 options outstanding under the plan, representing 6.3% of the issued and outstanding shares of the Company.
