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Rupert Resources Ltd.
Summary
| Project: | Pahtavaara | |
|---|---|---|
| Deposit: | Pahtavaara | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 7/20/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 20-7-2016: Rupert Resources Ltd. announces an Exploration/Drilling Update report for its Pahtavaara deposit at the Pahtavaara project. Drilling results incl. 5.0m @ 32.7g/t Au from 125m. Rupert Resources Ltd. (“Rupert” or the “Company”) (TSX Venture Excha | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mike Sutton (Not stated) | |
| ABSTRACT: | Rupert Resources Ltd. (“Rupert” or the “Company”) (TSX Venture Exchange: RUP), as previously announced, is carrying out a drilling and exploration campaign on the permitted Pahtavaara gold mine in Northern Finland, over which it has a six month purchase option (see the Company’s March 17, 2016 and June 9, 2016 press releases). “These are very encouraging exploration results in our first drill program on Pahtavaara. Rupert will continue developing its work programs and evaluation process dedicated to our goal of returning the Pahtavaara gold mine to production next year as a lower cost gold producer”, said Brian Hinchcliffe, Rupert’s President and CEO. The Company is pleased to announce the results of assays back from the first three holes (507 m), including hole 116005, which contained visible gold and returned 32.74 grams per ton of gold (“g/t Au”) over 5.0 meters (“m”) at depths of 125 to 130 m, including 159.4 g/t Au over 1.0 m. The hole also contained 2.4 g/t Au over 9.0 m including 15.9 g/t Au over 1.0 m. These intersections are located at 125 m and 148 m below surface, respectively. These are the first three holes of a 3,000 m, 17 hole drilling campaign designed to test various areas in the Pahtavaara open pit and underground mine areas and to test “wildcat” targets as well. To date 17 holes have been drilled (2,630 m). | |
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