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Rupert Resources Drills 13m Grading 15.2 g/t Gold and 47m Grading 4.1g/t Gold Extending the Ikkari Gold Discovery to 450m Along Strike

BusinessWire - Mon Jun 29, 4:00AM CDT

Rupert Resources Ltd ("Rupert" or "the Company") reports new drill results from its ongoing exploration programme at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland.

This press release features multimedia. View the full release here:

The Company has demonstrated extension to the significant gold hosting structural zone at the recently identified Ikkari discovery. The target was identified using base of till sampling at Area 1, a 5km long highly prospective section of a regional domain-bounding structure, 20km of which is contained within Rupert's contiguous land holding (see figure 1).


Hole 120059 intersected 15.2g/t gold over 13m from 121m including 36.6g/t over 5m and including 162g/t over 1m. The hole was drilled 300m east from hole 120042 drilled previously.Hole 120061 intersected multiple mineralised zones, the highest grade being 4.1g/t Au over 47m from 273m including 11.9g/t over 13m and including 107g/t over 1m. The hole is 70m further east from hole 120059 and demonstrates the potential for depth extension to the mineralising system.

James Withall, CEO of Rupert Resources commented "These latest Ikkari holes show the gold mineralising system remains broad and continuous towards the eastern end of the 500m initial base of till (BoT) anomaly. Drilling will recommence in the coming weeks to continue testing this target along with our on-going new target generation program. Further, we have begun extending the BoT sampling programme along structure towards the Saitta discovery some 5km to the east."


The further two holes at Ikkari (see press release dated May 12, 2020) reported today were completed where access was available during the Spring period to assess potential for a significant extension of the mineralised zone previously identified by drill holes 120042 (1.8g/t Au over 137m) and 120038 (1.5g/t Au over 54m) and to improve geological understanding to plan for more intensive follow-up drill programmes.

These targeted holes (tables 1 & 2) comprised an initial 300m step out to the east of hole 120042, with 120059 intercepting similar broad zones of mineralisation (figure 2) and a further hole, 120061 that was drilled 70m east and 50m south of 120059, to test the target zone deeper and along strike. Both holes successfully demonstrated continuation of the Ikkari mineralised zone.

Mineralisation in hole 120061 is made up of several wide zones suggesting a complex structural system with multiple fluid flow events all contained within a very broad intensive alteration zone as shown in the cross sections in figure 2. This alteration zone, that is variably mineralised, extends for 193m from 167m to the end of the hole at 359.2m.

The Ikkari mineralisation remains open in all directions and base of till drilling is ongoing, eastwards along the regional structure towards the Saitta discovery (4.5km east), which is believed to lie along the same mineralising structure as Ikkari (figure 1).

Table 1. Selected Summary Intervals from Ikkari Discovery to date

Hole ID           From (m) From (m)        To (m)        To (m)     Interval (m)     Interval (m)     Grade Au g/t     Grade Au g/t
-------------------- -------------------- -------------------- -------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120038                25.0                 25.0           25.0     25.0      79.0        54.0            1.5
       120042                10.8                 10.8           10.8     10.8      148.0       137.2           1.8
             including            including   23.0     23.0      37.0        14.0            7.1
-------------------- -------------------- -------------------- -------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120059              121.0    121.0     134.0       13.0           15.2
             including            including   127.0    127.0     132.0        5.0           36.6
         and including        and including   130.0    130.0     131.0        1.0        162.5 (vg)
-------------------- -------------------- -------------------- -------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120061                167.0                167.0          167.0    167.0     191.0       24.0            0.9
        212.0    212.0     233.0       21.0            1.2
        273.0    273.0     320.0       47.0            4.1
             including            including   290.0    290.0     303.0       13.0           11.9
         and including        and including   294.0    294.0     295.0        1.0        107.0 (vg)
         and including        and including   300.0    300.0     303.0        3.0           11.3

Notes to table: No upper cut-off grade was applied. A 0.4g/t lower cut-off applied. Unless specified, true widths cannot be accurately determined from the information available. vg - visible gold present in core. New results in bold.

Table 2. Drill collar locations of Ikkari target drill holes

Hole ID        Zone          Zone         Easting        Easting       Northing        Northing       Elevation       Elevation       Azimuth        Azimuth         Dip           Dip        EOH (m)        EOH (m)
------- -------------------- ------ -------------------- -------- -------------------- --------- -------------------- --------- -------------------- ------- -------------------- ----- -------------------- -------
 120038   Ikkari   453797.3    7496814.3     224.6      179.1    -48.5    136.3
 120042   Ikkari   453897.0    7496832.7     223.8      180.0    -49.3    157.0
 120059   Ikkari   454215.2    7496772.7     225.3      327.8    -49.9    247.5
 120060*  Ikkari   454287.2    7496721.4     228.0      340.0    -50.0    40.9

Notes to table: The coordinates are in ETRS89 Z35 and all holes are surveyed at 3m intervals downhole and all core is orientated. Hole 120060 collapsed at 40.9m and the collar was re-used to drill 120061.

Mineralisation at Ikkari is characterised by intense alteration and deformation. Gold is associated with fine-grained disseminated pyrite within planar quartz-carbonate veins and / or disseminated in the host rocks, commonly as fine-grained visible gold. Host rocks observed thus far include mafic sedimentary rocks and ultramafic rocks overprinted by albite-sericite alteration, and pervasive silicification. A broader, variably mineralised alteration zone comprising magnetite � hematite � tourmaline � K-feldspar � fuchsite is also present. Holes demonstrate strong foliation, shearing, and veining that is predominantly parallel to the dominant structural fabric, gold appears to be concentrated in zones of structural disruption, represented by irregular, cross-cutting vein associations. The regional structural data collected so far suggest a subvertical broad and linear structure, within which, cross-cutting fractures and possibly folded bedding appear to have controlled the introduction of gold-bearing fluids and associated alteration zones.

About the Pahtavaara Project

The Pahtavaara Project is located in the heart of the Central Lapland Greenstone Belt, Northern Finland where the company owns the permitted Pahtavaara mine that is on active care & maintenance and within a contiguous licence package of almost 300km(2). The Company acquired the project for just USD $2.5m in 2016 and is undertaking exploration both at the existing mine and across the region to demonstrate the potential for significant economic mineralisation.

Area 1 comprises a large part of a structural corridor that lies between Kittila Group allochthon to the north and the younger Kumpu Group basin to the south. The zone is dominated by large E-W to ENE trending faults which have controlled broad to isoclinal folding within the sediment-dominated (Savukoski Group) rock package. A complex network of cross cutting structures has focused multi-stage fluid flow, with gold mineralisation associated with massive to fine-grained disseminated sulphides and concentrated at favourable structural intersections.

Review by Qualified Person, Quality Control and Reports

Mr. Mike Sutton, P.Geo. Director and Dr Charlotte Seabrook, MAIG, RPGeo. Exploration Manager are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of scientific and technical information in this news release.

Samples are prepared by ALS Finland in Sodankyla and assayed in ALS laboratories in Ireland, Romania or Sweden. All samples are under watch from the drill site to the storage facility. Samples are assayed using fire assay method with aqua regia digest and analysis by AAS for gold. Over limit analysis for >10 ppm Au is conducted using fire assay and gravimetric finish for assays over >100ppm Au. For multi-element assays Ultra Trace Level Method by HF-HNO3-HClO4 acid digestion, HCl leach and a combination of ICP-MS and ICP-AES is used. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at appropriate intervals. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab.

Base of till samples are prepared in ALS Sodankyla by dry-sieving method prep-41, and assayed by fire assay with ICP-AES finish for gold. Multi-elements are assayed in ALS laboratories in either of Ireland, Romania or Sweden by aqua regia with ICP-MS finish. Rupert maintains a strict chain of custody procedure to manage the handling of all samples. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication.

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 ("Pahtavaara"). Pahtavaara previously produced over 420koz of gold and 474koz remains in an Inferred mineral resource (4.6 Mt at a grade of 3.2 g/t Au at a 1.5 g/t Au cut-off grade, see the technical report entitled "NI 43-101 Technical Report: Pahtavaara Project, Finland" with an effective date of April 16, 2018, prepared by Brian Wolfe, Principal Consultant, International Resource Solutions Pty Ltd., an independent qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects). The Company also holds a 100% interest in two properties in Central Finland - Hirsikangas and Osikonmaki; the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake, Ontario; and the Surf Inlet Property in British Columbia.


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, other than statements of historical fact constitute "forward-looking statements" within the meaning of applicable securities laws, including statements with respect to: results of exploration activities, mineral resources. 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 29, 2020 available at 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. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.


Table 3. Drill intercepts at Ikkari target to date of release

Hole ID                 From (m)       From (m)        To (m)        To (m)     Interval (m)     Interval (m)     Grade Au g/t     Grade Au g/t
-------------------- -------------------- -------------------- -------------------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120038                25.0      79.0        54.0            1.5
          including          35.0      36.0         1.0            4.7
          including          65.0      67.0         2.0            5.2
          including          71.0      72.0         1.0            5.7
          including          75.0      76.0         1.0            3.8
          81.0      82.0         1.0            0.4
          83.0      84.0         1.0            0.6
          92.1      103.0       10.9            0.6
          including          96.0      98.0         2.1            1.8
-------------------- -------------------- -------------------- -------------------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120042                10.8      148.0       137.2           1.8
          including          23.0      37.0        14.0            7.1
        and including        23.0      24.0         1.0           25.1
        and including        27.0      30.0         3.0           10.6
        and including        34.0      35.0         1.0            8.4
        and including        36.0      37.0         1.0            9.9
          including          51.0      52.0         1.0            7.1
          including          59.0      60.0         1.0            5.8
          including          84.0      85.0         1.0            6.4
          including          93.0      94.0         1.0            4.2
          including          104.0     105.0        1.0            4.8
          including          108.0     109.0        1.0            4.2
          including          116.0     119.0        3.0            3.9
          153.0     154.0        1.0            0.5
-------------------- -------------------- -------------------- -------------------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120059                45.0      48.0         3.0            3.3
          58.0      69.0        11.0            0.7
          121.0     134.0       13.0           15.2
          including          127.0     132.0        5.0           36.6
        and including        130.0     131.0        1.0        162.5 (vg)
-------------------- -------------------- -------------------- -------------------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120060*               29.0      30.0         1.0            2.3
-------------------- -------------------- -------------------- -------------------- -------- -------------------- ------ -------------------- ------------ -------------------- ------------
       120061                167.0     191.0       24.0            0.9
          including          173.8     174.0        0.2           20.0
          including          174.0     175.0        1.0            2.2
          including          189.0     190.0        1.0            2.0
          203.0     206.0        3.0            0.7
          212.0     233.0       21.0            1.2
          including          213.0     217.0        4.0            3.0
          273.0     320.0       47.0            4.1
          including          290.0     303.0       13.0           11.9
        and including        290.0     291.0        1.0            7.0
        and including        294.0     295.0        1.0        107.0 (vg)
        and including        300.0     301.0        1.0           20.2
        and including        301.0     302.0        1.0            8.5
        and including        302.0     303.0        1.0            5.3
          343.0     350.0        7.0            1.6
          including          347.0     349.0        2.0            4.1

Notes to table: Highlighted intersections mentioned in commentary. Lower cut off grade of 0.4g/t. No upper cut-off grade was applied. Unless specified, intervals are drill indicated core length, true widths cannot be accurately determined from the information available. vg - visible gold observed in core

* Collar of hole (to 40m depth) was re-drilled due to hole collapse. New drill holes in bold.

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SOURCE: Rupert Resources Ltd">

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