Rupert Resources

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Exploration update and new drilling reported from Heinä Central including 57.9m grading 1.2g/t gold and 0.3% copper

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

  • Hole 120114 intersected 57.9m grading 1.2g/t gold (“Au”) and 0.3% copper (“Cu”) from 127m (99m vertical) including 11.8g/t Au and 0.2% Cu over 3m which includes 26.4g/t Au and 0.2% Cu over 1m at the Heinä Central target (1km of to the north of Ikkari, see figure 3).
  • Hole 120116 intersected 20m grading 1.0g/t Au and 1.3% Cu from 225m downhole (166m vertical) at Heinä Central demonstrating the potential for significant copper mineralisation.
  • Hole 120105 at Island North (located 2km to the northeast of Ikkari) intersected 2.2g/t Au over 15m, from 124m (95m vertical) including 4.9g/t Au over 5m.  This hole is part of a program following up on high grade vein hosted mineralisation (249g/t Au over 0.5m) identified in early 2020.
  • Hit Rate - 75% of drillholes assayed to date from Area 1 have yielded gold grades greater than a 0.4g/t Au nominal cut-off.  
  • Since work commenced in January 2019, 7,823 BoT samples have been taken with all six gold occurrences at Area 1 discovered beneath coincident BoT anomalies and structural targets identified from geophysics.

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