Rupert Identifies a Number of New Mineralisation Targets, Applies to Expand Pahtavaara Licence Area by 80% and Makes Progress on Regional Exploration Program
- Soil sampling identifies several geochemical anomalies coincident with 2016 IP survey
- Reconnaissance boulder and outcrop sampling identifies new areas of interest
- All assays from 47,710 m program received, geological interpretation underway
- Applications made for a further 101 km2 of contiguous ground
- Drilling to resume in Q4 2017 to test new targets
TORONTO, Sept.25, 2017(GLOBE NEWSWIRE) -- Rupert Resources Ltd ("Rupert" or the "Company") (TSX-V:RUP) (FSE:R05) provides an update on the initial results from the 2017 field season at the property and announces the expansion of its wholly owned Pahtavaara claims in the Central Lapland Greenstone Belt (CLGB) by over 80%.
|
|||||||||||||||
James Withall, Chief Executive of Rupert said, "Initial results from our licence wide prospecting and near mine soil sampling have produced a number of compelling results that are coincident with IP anomalies from our 2016 campaign.The targets are now being ranked and we plan to drill the highest priority ones later in 2017. We have applied to expand our contiguous land position in the increasingly significant Central Lapland Greenstone Belt by 80% and are well positioned to advance this enlarged area utilising a wealth of information from previous operators and the GTK along with the new data that continues to be collected by our geology team based at Pahtavaara."
Pahtavaara Project, Northern Finland
Expansion of regional licence package
The company has been granted 124km2 of exploration and mining licences and now has reservation and exploration applications pending over a further 101km2 of contiguous ground which would increase the Rupert land position in the centre of the CLGB by over 80% (see Figure 1). The land package already has a significant amount of data from geophysical surveys undertaken by previous operators (ground magnetic, IP, VTEM) as well as regional GTK (Geological Survey of Finland) including magnetic, gravity, geochemistry and base of till data which can be integrated with new data to generate and rank targets on an accelerated timeframe versus a grassroots jurisdiction. The increased land package also includes the Hookana prospect where near surface drilling by the GTK in 1986 identified gold mineralisation. None of the new claims are located on the Natura 2000 reservations.
Figure 1 - Rupert Resources expanded land position
A figure accompanying this release is availabe at http://www.globenewswire.com/NewsRoom/AttachmentNg/cb539740-88b6-4952-991f-10248445a925
2017 fieldwork methodology
A licence scale prospecting and data review was completed in June and July which has provided a number of near mine and regional follow-up targets with 145 outcrop and boulder samples collected so far (results received from 81). The prospectors samples have provided a number of new target areas in addition to those provided by the extensive historical data package provided by the GTK and previous owners. This work has been augmented with a three month geochemical survey with 1012 ionic leach samples (results from 401 pending) and 172 conventional geochemical samples (results from 14 pending) collected across 22 lines over extensions of known mine mineralisation, targets generated by the 2016 IP survey, licence wide geophysical anomalies and areas of interest identified by prospecting.A number of techniques for this work were assessed along with a detailed examination of potential effects of glaciation. A combination of ionic leach, geochemical multi-element analysis of till and heavy mineral sampling methods (panning and micrograin analysis) were selected. The selection was based on the 2016 soil sampling orientation program and 2017 field testing which "ground truthed" a selection of methods over known near surface mineralisation.The programs, while having a primary focus on gold, also incorporated base metals given the known potential on the licence package.
Near mine targets (within 5km of the Pahtavaara mill)
Rupert's exploration team have so far identified four near mine exploration targets within 5km of the Pahtavaara mill: Western Extension, North IP, South IP and Arthur (see Figure 2).A drilling program incorporating the IP and geochemistry data is currently being prepared to test the targets with the aim to commence this in the fourth quarter of 2017.
(1) Western extension is located in a magnetic low and coincident with GTK base of till copper and gold anomalies and along trend from a series of resistive IP anomalies from the 2016 survey. Initial results from ionic leach sampling across the zone exhibit elevated relative response ratios anomalous for gold across the zone. The area also produced high gold grain counts.
(2) IP South lies 1km south west of Karoliina and has been targeted due to a large IP resistivity anomaly that is coincident with both copper and gold base of till anomalies. It also shows an elevated ionic leach relative response ratio for gold and produced gold grain counts similar to sampling over the known Karoliina zone.
(3) Arthur is situated 1km north of the Pahtavaara mill and has been targeted due a strong relative response ratio for gold in the 2017 IL program as well as the presence of a base of till gold anomaly and historical trenching activities. It lies eastwards from the large (4) IP North anomaly where ionic leach and till geochemical samples have been collected but assay results remain pending.
Figure 2. Near mine exploration targets and 2017 ionic leach relative response ratios
A figure accompanying this release is availabe at http://www.globenewswire.com/NewsRoom/AttachmentNg/382dbfd6-9492-4d7e-9e6c-970d81d6478e
Regional targets
Valimaa
Reconnaissance work of the Valimaa area in the north western part of the Pahtavaara licence produced sample 14866 yielding a grade of 6g/t Au. The sample was found adjacent to a 600m long outcrop of possible quartz arenite and conglomerate that may belong to the Kumpu Group which have yielded exceptional gold grades to the south of the Pahtavaara property. Results from follow up boulder sampling andan extensive ionic leach program are expected in the coming weeks. In addition further mapping, boulder, outcrop and till geochemical sampling of this area is to be completed over the next two months.
Koppelokangas
Outokumpu drilled nine diamond holes totalling 1057m in the Koppelokangas prospect, located 14km west of Pahtavaara, between 1971 and 1992. Assay data is available for five of these holes with gold mineralisation in four of them and with best grades up to 2g/t Au. A new interpretation of the mine Skytem survey data indicates a number of conductors that could be related to mineralisation within this 2km x 1km structural corridor.
Figure 3 - Regional exploration areas and 2017 work program
A figure accompanying this release is availabe at http://www.globenewswire.com/NewsRoom/AttachmentNg/14de176b-22c2-4dee-8eb5-87a3d113a687
Saitta
The Saitta prospect in the south west of the property that was identified by a number of anomalous samples collected by the prospecting team early in the field season, lies along the contact between the Kumpu group quartzites and the older Savukoski (mafic and ultramafic) group. Detailed mapping and further sampling of this prospect will be completed before the end of this year's field season.
The south western extensions of the claims has received little attention by either the GTK or prior operators. This area is contiguous with the Kutuvuoma property that previously operated as a satellite pit for the Pahtavaara mill. Kutuvuoma was drilled by the Aurion / B2 joint venture in 2016 with a number of holes intersecting gold mineralisation. Base of till and detailed geophysics coverage is poor in this region due to poor ground conditions but work can be advanced in the winter months. Reinterpretation of regional gravity data has identified a gravity break passing through this part of the licence that indicates a deep seated structure that follows the drainage eastwards.
Sulphide potential
Although historically a gold mine, Pahtavaara has a number of significant examples of base metal sulphide mineralisation discovered by previous operators. These include drill hole 112806 which intersected 7.7g/t Au; 218g/t Ag; 6.7% Cu; 0.66% Ni over 6m from 56 m below the Lansi test pit to the west of the main open pits as well as massive sulphide veining on the -40 level in the Karoliina zone. Work is ongoing to better interpret the geological setting in this area with a view to understanding the structural controls on these features. Our 2017 field program has identified a number of base metals anomalies coincident with the IP North, Arthur and IP South anomalies. Progressing these targets will continue alongside our gold exploration program.
Near term exploration work plan and geological modelling
Fieldwork including further follow-up mapping, sampling and geochemistry on areas of interest continues. In the winter months base of till drilling and a magnetic survey totalling 815 line km is planned to infill areas with poor coverage to the west of the licence and a further 35km of IP is under consideration after initial drill testing of existing targets.
We have now received all assays back from the 47,710m infill and resource development drill program and geological interpretation is underway.This is the first time that an extensive geological modelling exercise has been attempted for Pahtavaara despite over 25 years of exploration, development and operation. The aim is to provide an improved understanding of geological setting and therefore controls on mineralisation.As part of this exercise the mine database has been upgraded to improve utilisation of the extensive Pahtavaara data package (including over 250km of diamond drilling).
Other initiatives over the next few months will include sampling and re-logging of existing core for some parts of the deposit and looking at new interpretations in previously mined areas to better understand production history. The new geological model will be subjected to peer review by an external consultant with further drilling to infill gaps and test theories on possible extensions. This work will contribute to the design of production drilling programs ahead of any recommencement of production. Further drilling results will be provided in context of this work.
Review by Qualified Person, Quality Control and Reports
In compliance with National Instrument 43-101, Mr. Mike Sutton, P.Geo. is the Qualified Person who supervised the preparation of the scientific and technical disclosure in this news release.
About Rupert
Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "RUP". The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland (see the Company's November 9, 2016 press release). The Company also holds a 100% interest in the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake Mining Division of Ontario, and the Surf Inlet gold mine and property in British Colombia.
For further information, please contact:
| James Withall Chief Executive Officer jwithall@rupertmining.com | Thomas Credland Head of Corporate Development & Investor Relations tcredland@rupertmining.com |
Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 (416) 848 6865
Web: http://rupertresources.com/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute "forward-looking statements", including the statements with respect to those that address potential quantity and/or grade of minerals, potential for minerals and statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future drilling and geological activities, business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 28, 2017 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.