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Rupert Resources Drills 137m Grading 1.8g/t Gold From Surface at New Area 1 Discovery

12.05.2020  |  Business Wire

Rupert Resources Ltd. (“Rupert” or “the Company”) today reported 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: https://www.businesswire.com/news/home/20200512005470/en/

Location of new Ikkari discovery at Area 1 - situated along a major regional structure and 25km from the Pahtavaara mill. (Photo: Business Wire)

The Company has drilled a significant gold hosting structural zone at a newly identified target called Ikkari. 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).

Highlights

The Ikkari target is a linear anomaly extending over 500m of strike in base of till sampling. The first two drill holes into the target are located 100m apart (see Figure 2).

  1. Hole 120042 intersected 137.2m grading 1.8g/t gold from 10.8m, the base of till surface including 7.1g/t gold over 14m from 23m and 10.6g/t over 3m from 27m
  2. Hole 120038 intersected 54m grading 1.5g/t gold from 25m including 4.7g/t over 1m from 35m, 5.2g/t over 2m from 65m and 5.7g/t over 1m from 71m

James Withall, CEO of Rupert Resources commented “These first two holes at Ikkari are the most significant intersections of our regional exploration program to date, showing continuity of grade, across a broad shear-zone structure. So far, we have only drilled 100m of the interpreted strike; the base of till anomaly has a strike extent over 500m and this is limited only by the current extent of our sampling. Our recent Saittä discovery is proximal to the same regional structure 5km to the east. Rupert’s exploration team have demonstrated yet again the success of their systematic approach to exploration delivering a sixth new discovery in just over 12 months.”

Summary

The 2019/20 regional exploration program has so far completed 13,712m with 77 holes drilled at Area 1. The Company has undertaken one of the most extensive base of till geochemical sampling programs ever conducted in this region of Finland, along with detailed ground gravity, magnetics and IP geophysical surveys, the combination of which continues to identify new gold anomalies under glacial till to drill test. Currently there is one diamond drill rig and a base of till rig operating at the project.

The Company is well funded following the $13.1m investment by Agnico Eagle Mines Ltd. in February this year and the regional exploration programs are planned to continue throughout 2020 with further information released as it becomes available. A detailed IP geophysical survey has just been completed at Ikkari and plans are being made to recommence drilling here in the coming months.

Table 1. Summary of significant intercepts at Ikkari

Hole ID

From (m)

To (m)

Interval (m)

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

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. Full assay results for each hole are included in Appendix to this news release.

Table 2. Drill collar locations

Hole ID

Zone

Easting

Northing

Elevation

Azimuth

Dip

EOH (m)

120038

Ikkari

453797.3

7496814.3

224.60

179.10

-48.50

136.30

120042

Ikkari

453897.0

7496832.7

223.80

180.00

-49.30

156.95

Notes to table: The coordinates are in ETRS89 Z35 and all holes are surveyed at 3m intervals downhole and all core is orientated.

Mineralisation is hosted by sedimentary rocks and both holes demonstrate strong foliation, shearing, occurrences of visible gold associated with intensive albite-sericite alteration and finely disseminated pyrite throughout. 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 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 297km2. 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 Kittilä Group allocthon 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 and fold hinges.

Qualified Person and NI 43-101 Disclosure

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

QA/QC and Sampling Protocols

Samples are prepared by ALS Finland in Sodankylä 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 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 Sodankylä 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.

Rupert Resources Ltd.

82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1

Tel: +1 416-304-9004

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, 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 28, 2019 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. 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.

APPENDIX

Table 3. Drill Intercepts from DDH120038

From (m)

To (m)

Int (m)

Au (g/t)

13.40

14.00

0.60

0.09

14.00

15.00

1.00

0.13

15.00

16.00

1.00

0.01

16.00

17.00

1.00

0.13

17.00

18.00

1.00

0.09

18.00

19.00

1.00

0.01

19.00

20.00

1.00

0.06

20.00

21.00

1.00

0.13

21.00

22.00

1.00

0.05

22.00

23.00

1.00

0.10

23.00

24.00

1.00

0.24

24.00

25.00

1.00

0.32

25.00

26.00

1.00

2.78

26.00

27.00

1.00

0.59

27.00

28.00

1.00

0.70

28.00

29.00

1.00

1.35

29.00

30.00

1.00

2.53

30.00

31.00

1.00

1.39

31.00

32.00

1.00

0.18

32.00

33.00

1.00

0.58

33.00

34.00

1.00

1.70

34.00

35.00

1.00

2.51

35.00

36.00

1.00

4.66

36.00

37.00

1.00

1.12

37.00

38.00

1.00

0.69

38.00

39.00

1.00

1.46

39.00

40.00

1.00

2.08

40.00

41.00

1.00

1.72

41.00

42.00

1.00

1.77

42.00

43.00

1.00

1.59

43.00

44.00

1.00

2.40

44.00

45.00

1.00

0.50

45.00

46.00

1.00

2.45

46.00

47.00

1.00

2.37

47.00

48.00

1.00

1.89

48.00

49.00

1.00

0.11

49.00

50.00

1.00

0.05

50.00

51.00

1.00

0.72

51.00

52.00

1.00

0.19

52.00

53.00

1.00

0.03

53.00

54.00

1.00

0.04

54.00

55.00

1.00

1.04

55.00

56.00

1.00

0.01

From (m)

To (m)

Int (m)

Au (g/t)

56.00

57.00

1.00

0.01

57.00

58.00

1.00

0.04

58.00

59.00

1.00

0.04

59.00

60.00

1.00

0.02

60.00

61.00

1.00

0.61

61.00

62.00

1.00

0.59

62.00

63.00

1.00

0.59

63.00

64.00

1.00

0.37

64.00

65.00

1.00

0.37

65.00

66.00

1.00

3.98

66.00

67.00

1.00

6.33

67.00

68.00

1.00

1.35

68.00

69.00

1.00

0.29

69.00

70.00

1.00

2.97

70.00

71.00

1.00

1.40

71.00

72.00

1.00

5.70

72.00

73.00

1.00

3.44

73.00

74.00

1.00

1.66

74.00

75.00

1.00

2.36

75.00

76.00

1.00

3.79

76.00

77.00

1.00

1.08

77.00

78.00

1.00

0.25

78.00

79.00

1.00

0.97

79.00

80.00

1.00

0.05

80.00

81.00

1.00

0.37

81.00

82.00

1.00

0.44

82.00

83.00

1.00

0.08

83.00

84.00

1.00

0.59

84.00

85.00

1.00

0.06

85.00

86.00

1.00

0.01

86.00

87.00

1.00

0.23

87.00

88.00

1.00

0.06

88.00

89.00

1.00

0.04

89.00

90.00

1.00

0.11

90.00

91.00

1.00

0.01

91.00

91.70

0.70

0.02

91.70

92.10

0.40

NS

92.10

93.00

0.90

0.73

93.00

93.60

0.60

0.03

93.60

95.30

1.70

NS

95.30

95.40

0.10

0.07

95.40

95.95

0.55

NS

95.95

97.00

1.05

1.58

Table 3. Drill Intercepts from DDH120038 - Continued

From (m)

To (m)

Int (m)

Au (g/t)

97.00

98.00

1.00

2.01

98.00

99.00

1.00

0.20

99.00

100.00

1.00

0.10

101.00

102.00

1.00

0.21

102.00

103.00

1.00

0.58

103.00

104.00

1.00

0.08

104.00

105.00

1.00

0.18

105.00

106.00

1.00

0.05

106.00

107.00

1.00

0.05

107.00

108.00

1.00

0.04

108.00

109.00

1.00

0.05

109.00

110.20

1.20

0.01

110.20

110.30

0.10

NS

110.30

111.00

0.70

0.005

111.00

112.00

1.00

0.01

112.00

113.00

1.00

0.01

113.00

114.00

1.00

0.01

114.00

115.00

1.00

0.03

115.00

116.00

1.00

0.01

116.00

117.00

1.00

0.01

117.00

118.00

1.00

0.09

118.50

119.60

1.10

NS

119.60

119.9

0.30

0.01

119.90

120.7

0.80

NS

120.70

120.85

0.15

0.005

120.85

121.8

0.95

NS

121.80

122.10

0.30

0.01

122.10

122.90

0.80

NS

From (m)

To (m)

Int (m)

Au (g/t)

122.90

123.20

0.30

0.04

123.20

123.30

0.10

NS

123.30

123.80

0.50

0.03

123.80

124.00

0.20

NS

124.00

124.50

0.50

0.01

124.50

125.00

0.50

NS

125.00

125.90

0.90

0.05

125.90

126.00

0.10

NS

126.00

126.50

0.50

0.01

126.50

127.00

0.50

NS

127.00

127.30

0.30

0.01

127.30

127.70

0.40

NS

127.70

128.70

1.00

0.05

128.70

128.80

0.10

NS

128.80

130.10

1.30

0.11

130.10

130.70

0.60

NS

130.70

130.90

0.20

0.04

130.90

131.30

0.40

NS

131.30

132.65

1.35

0.14

132.65

133.00

0.35

NS

133.00

133.85

0.85

0.09

133.85

134.30

0.45

NS

134.30

134.55

0.25

0.04

134.55

135.50

0.95

NS

135.50

135.70

0.20

0.03

135.70

136.00

0.30

NS

136.00

136.30

0.30

0.09

Notes to table: Unless specified, true widths cannot be accurately determined from the information available. NS – No sample (core loss)

Table 4. Drill Intercepts from DDH120042

From (m)

To (m)

Int (m)

Au (g/t)

10.80

11.00

0.20

1.03

11.00

12.00

1.00

1.28

12.00

13.00

1.00

0.34

13.00

14.00

1.00

0.84

14.00

15.00

1.00

0.66

15.00

16.00

1.00

0.10

16.00

17.00

1.00

1.39

17.00

18.00

1.00

0.10

18.00

19.00

1.00

0.92

19.00

20.00

1.00

0.29

20.00

21.00

1.00

1.23

21.00

22.00

1.00

2.23

22.00

23.00

1.00

1.10

23.00

24.00

1.00

25.10

24.00

25.00

1.00

4.56

25.00

26.00

1.00

2.81

26.00

27.00

1.00

4.95

27.00

28.00

1.00

12.35

28.00

29.00

1.00

8.77

29.00

30.00

1.00

10.55

30.00

31.00

1.00

3.52

31.00

32.00

1.00

1.38

32.00

33.00

1.00

0.55

33.00

34.00

1.00

5.19

34.00

35.00

1.00

8.35

35.00

36.00

1.00

5.82

36.00

37.00

1.00

9.90

37.00

38.00

1.00

0.03

38.00

39.00

1.00

1.67

39.00

40.00

1.00

0.65

40.00

41.00

1.00

0.91

41.00

42.00

1.00

0.42

42.00

43.00

1.00

0.25

43.00

44.00

1.00

0.11

44.00

45.00

1.00

0.10

45.00

46.00

1.00

0.05

46.00

47.00

1.00

0.02

47.00

47.50

0.50

0.62

47.50

48.00

0.50

1.82

48.00

49.00

1.00

0.14

49.00

50.00

1.00

0.92

50.00

51.00

1.00

0.95

51.00

52.00

1.00

7.10

52.00

53.00

1.00

3.59

From (m)

To (m)

Int (m)

Au (g/t)

53.00

54.00

1.00

0.47

54.00

55.00

1.00

1.24

55.00

56.00

1.00

0.38

56.00

57.00

1.00

2.17

57.00

58.00

1.00

1.32

58.00

59.00

1.00

0.63

59.00

60.00

1.00

5.80

60.00

61.00

1.00

2.72

61.00

62.00

1.00

0.78

62.00

63.00

1.00

0.43

63.00

64.00

1.00

2.39

64.00

65.00

1.00

3.39

65.00

66.00

1.00

0.94

66.00

67.00

1.00

0.13

67.00

67.50

0.50

5.39

67.50

68.00

0.50

2.45

68.00

69.00

1.00

3.09

69.00

70.00

1.00

1.07

70.00

71.00

1.00

2.85

71.00

72.00

1.00

1.83

72.00

73.00

1.00

0.03

73.00

74.00

1.00

0.17

74.00

75.00

1.00

0.03

75.00

76.00

1.00

0.10

76.00

77.00

1.00

0.15

77.00

78.00

1.00

0.10

78.00

79.00

1.00

0.35

79.00

80.00

1.00

0.18

80.00

81.00

1.00

0.07

81.00

82.00

1.00

0.03

82.00

83.00

1.00

0.10

83.00

84.00

1.00

0.08

84.00

85.00

1.00

6.42

85.00

86.00

1.00

1.47

86.00

87.00

1.00

2.57

87.00

88.00

1.00

1.31

88.00

89.00

1.00

0.08

89.00

90.00

1.00

0.32

90.00

91.00

1.00

2.00

91.00

92.00

1.00

0.21

92.00

93.00

1.00

1.98

93.00

94.00

1.00

4.23

94.00

95.00

1.00

0.69

95.00

96.00

1.00

0.52

Table 4. Drill Intercepts from DDH120042 - Continued

From (m)

To (m)

Int (m)

Au (g/t)

96.00

97.00

1.00

0.27

97.00

98.00

1.00

0.26

98.00

99.00

1.00

0.08

99.00

100.00

1.00

0.41

100.00

101.00

1.00

0.08

101.00

102.00

1.00

0.63

102.00

103.00

1.00

0.27

103.00

104.00

1.00

0.60

104.00

105.00

1.00

4.77

105.00

106.00

1.00

0.99

106.00

107.00

1.00

0.99

107.00

108.00

1.00

3.22

108.00

109.00

1.00

4.18

109.00

110.00

1.00

2.30

110.00

111.00

1.00

2.34

111.00

112.00

1.00

1.55

112.00

113.00

1.00

2.07

113.00

114.00

1.00

2.61

114.00

115.00

1.00

0.82

115.00

116.00

1.00

2.51

116.00

117.00

1.00

3.77

117.00

118.00

1.00

3.95

118.00

119.00

1.00

3.96

119.00

120.00

1.00

1.60

120.00

121.00

1.00

1.46

121.00

122.00

1.00

0.76

122.00

123.00

1.00

0.24

123.00

124.00

1.00

0.46

124.00

125.00

1.00

0.14

125.00

126.00

1.00

2.32

From (m)

To (m)

Int (m)

Au (g/t)

126.00

127.00

1.00

1.06

127.00

128.00

1.00

1.42

128.00

129.00

1.00

0.46

129.00

130.00

1.00

0.63

130.00

131.00

1.00

0.01

131.00

132.00

1.00

0.01

132.00

133.00

1.00

0.12

133.00

134.00

1.00

0.36

134.00

135.00

1.00

0.28

135.00

136.00

1.00

0.02

136.00

137.00

1.00

0.07

137.00

138.00

1.00

0.27

138.00

139.00

1.00

1.49

139.00

140.00

1.00

0.90

140.00

141.00

1.00

0.90

141.00

142.00

1.00

0.07

142.00

143.00

1.00

0.04

143.00

144.00

1.00

0.19

144.00

145.00

1.00

0.38

145.00

146.00

1.00

0.02

146.00

147.00

1.00

0.23

147.00

148.00

1.00

2.03

148.00

149.00

1.00

0.12

149.00

150.00

1.00

0.01

150.00

151.00

1.00

0.01

151.00

152.00

1.00

0.01

152.00

153.00

1.00

0.10

153.00

154.00

1.00

0.52

154.00

155.00

1.00

0.01

155.00

156.00

1.00

0.01

156.00

156.95

0.95

0.01

Notes to table: Unless specified, true widths cannot be accurately determined from the information available.

./ContentItem/Format

Rupertresources drills 137m grading 1.8g/t gold from surface at new Area 1 discovery



Contact

James Withall
Chief Executive Officer
jwithall@rupertresources.com

Thomas Credland
Head of Corporate Development
tcredland@rupertresources.com


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