Rupert Resources Ltd (“Rupert” or “the Company”) provides detail of response to the COVID-19 pandemic and an update on exploration activities in Finland at the Pahtavaara Project. The Company is committed to the ensuring the health and safety of its staff and is following the recommendations of the Finnish Government. To date no-one has been diagnosed with COVID-19, staff are working from home where possible, minimising direct contact and ensuring strict hygiene standards. Rupert’s geology and care & maintenance teams are resident in Sodankylä, Finland, a 35km drive from the Pahtavaara Project which has enabled the exploration programs to continue. Rupert has a strong balance sheet following the $13.1million investment by Agnico Eagle in February and has the flexibility to scale up and down the planned work programs. The Company is actively monitoring the situation and will take appropriate actions as circumstance or advice changes.
Over 15,000m of regional exploration and 6,500m of mine exploration drilling has now been completed this winter with results confirming multiple new gold / gold-copper occurrences across the licence holding and extensions to known mineralisation. Assay results remain pending for approximately 6,000m of drilling and will be released with further updates.
Area 1 – Five new gold discoveries in the first 15 months exploring an area with no previous work. Area 1 represents just 10% of the Pahtavaara Project licences and only 5km of the 20km long domain bounding structure that is a focus of our regional exploration. The end of this year’s winter drilling program has focussed on the Heinä South prospect. This prospect has the highest concentration of high-grade base of till anomalies (up to 11g/t Au) on Rupert’s property. The first holes have intersected a pyrite-quartz vein stockwork that trends towards the ENE, is up to 10-20m wide and so far has a projected strike length of 240m, remaining open to the north east, the south and at depth.
Pahtavaara Mine – Drilling at the fully permitted gold mine was completed in March and geological modelling is now underway. The program successfully identified new mineralised zones at Harpoon, NFE, East Pit and T-Zone. On receipt of remaining assays resource modelling will commence with expected completion in the next 3 months.
James Withall, CEO of Rupert Resources commented “The strategy of Rupert Resources is to demonstrate the economic potential of the entire Pahtavaara Project, including the permitted mine. The team have transformed Area 1 from a conceptual regional target, into a highly prospective mineralised region with multiple gold and gold-copper occurrences. Drilling here will focus defining the scale of these occurrences and our generative exploration program will evaluate other targets on our large strategic landholding. Further, the success of drilling new high-grade zones at the Pahtavaara mine and depth extensions to the Hirvi satellite project bring potential to add to our existing resource base.”
Town hall webinar - April 16, 2020 (11am EST)
James Withall will present an overview of Rupert's strategy and provide an update on exploration activities at the Pahtavaara Project. Registration is via the following link: Rupert webinar registration - April 16, 2020
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