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Rupert Resources Ltd.
Summary
| Project: | Hirsikangas | |
|---|---|---|
| Deposit: | Hirsikangas | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 9/11/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-9-2018: Rupert Resources Ltd. announces an Exploration/Drilling Update report for its Hirsikangas deposit at the Hirsikangas project. Drilling results incl. 10.0m @ 2.8g/t Au from 274.0m. TORONTO, Sept. 11, 2018 -- Rupert Resources Ltd (“Rupert” or the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mike Sutton (Not stated) | |
| ABSTRACT: | TORONTO, Sept. 11, 2018 -- Rupert Resources Ltd (“Rupert” or the “Company”) reports drill results from its 2018 drilling campaign at its Hirsikangas Project, a Palaeoproterozoic orogenic gold deposit located on a 30km crustal scale shear zone in Central Finland (see Figure 1). The mineral deposit comprising the Hirsikangas Project is contained within 1.2km of strike length and drilled at shallow levels with the deposit outcropping at surface. The drilling reported today confirms the deposit extends at depth and also the presence of parallel or offset structures. Rupert holds exploration licences and reservations totalling over 300km2 covering 30km strike length of the regional Ruhaperä shear structure, is progressing fieldwork and has just completed a detailed UAV magnetic survey. James Withall, Chief Executive Officer of Rupert Resources said “Rupert plans to use the approach which has been successfully applied at Pahtavaara to explore a new gold district, wholly owned by Rupert, in Central Finland. Having acquired an known deposit, expanded Rupert’s land position and generated some positive results through the drill bit, we will now systematically work through historical data, develop revised deposit and regional scale geological models, and investigate further targets through mapping, geochemical sampling and ultimately further drilling along this belt scale project.” The Hirsikangas Project has a historical resource estimate (the “historical estimate”), prepared using the guidelines of the 2004 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “2004 JORC Code”), based on a 0.5g/t Au cut off grade including, Indicated mineral resources of 3.0 Mt at a grade of 1.23 g/t Au (119koz) and Inferred mineral resources of 2.7 Mt at a grade of 1.27 g/t Au (106koz), as summarised in the Hirsikangas Technical Report, (defined in the “Technical Information” section of this release). While the Company considers the historical estimate to be relevant to investors, a qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the Company is not treating the historical estimate as current mineral resources. See the “Technical Information” section of this release. | |
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