Toronto (August 16, 2023) – Rupert Resources (“Rupert” or “The Company”) is pleased to report drill results from its 2022/23 exploration program at its multi-million ounce Ikkari gold discovery at the 100% owned Rupert Lapland Project in Northern Finland. In November 2022, the company published a mineral resource estimate (“MRE”) and preliminary economic assessment (“PEA”) for the project demonstrating the potential for a high margin, low impact mine with a life of over 20 years (see November 28, 2022 press release and footnotes 1&2).
HIGHLIGHTS
Ikkari – Further results from Infill and extension program
Ikkari North (0.5km north of Ikkari)
New drilling at Ikkari North successfully targeted the Eastern continuation of mineralisation hosted within an E-W structural corridor. Within this trend multiple intense breccia zones host gold and pyrite mineralisation. Drilling during the winter 2023 has extended the footprint of the mineralisation 200m to the east from previous drilling during the winter 2022 (see previous press release dated August 17, 2022).
James Withall, CEO of Rupert Resources commented “Diamond drilling for the 2023/24 season has commenced on several targets with the base of till program set to resume in September after the summer break. The results published today highlight the potential of the mineralising system in Area 1 to yield more discoveries. A significant portion of the drilling in 2022/23 was allocated to infill drilling to upgrade the confidence level of Ikkari resource ahead of the upcoming pre-feasibility study; with this work behind us, the focus can switch back to exploration, both in Area 1 and along the 15km structural corridor extending eastwards from the multi-million ounce Ikkari discovery where new base of till and geophysical anomalies have been identified.”
