Rupert Resources hits gold at Pahtavaara Project in Finland

May 27, 2019

Rupert Resources


Rupert Resources, a Canadian based explorer, has reported significant diamond drilling intercepts representing new gold discoveries at its Area 1 target area, 15km from the Pahtavaara mill at the Pahtavaara Project in the Central Lapland Greenstone Belt of Northern Finland.

In a focussed diamond drill program, two holes were planned to confirm separate targets and both intercepted sulphide mineralisation within distinct metasedimentary sequences. Significant intercepts include 10.5m grading 3.55g/t Au in hole 119032, 90m below a base of till anomaly of 21g/t Au. Hole 119033 intersected 2.0m grading 3.4g/t Au along with broad zones of lower grade gold and copper mineralisation associated with sulphides throughout the length of the hole (tables 1 & 2).

James Withall, CEO of Rupert Resources commented
“These new discoveries validate the systematic exploration program Rupert is undertaking and we look forward to testing multiple further targets, generated by the same methods, on Rupert’s prospective 290km2land package. The two headline intercepts are located 800m from each other, along different structures, with mineralisation hosted within a sequence of sulphide-rich metasediments and volcanic rocks, that have not previously been identified from historic geological studies. The fact that the mineralisation is hosted by sulphide-rich zones is conducive for using geophysics and possibly suggests potential for better continuity.”

Figure 1. Rupert Resources regional target areas
Figure 2. BoT anomalies and reconnaissance drill collars in Area 1, on background magnetics (blue – low magnetic response, red/pink – high magnetic response)
Figure 3. 119032 core showing quartz – carbonate veining and massive pyrite

The drilling reported is from a reconnaissance drill program to test coincident base of till (BoT) and geophysical anomalies in the Area 1 target area along a 20km structural corridor (figure 1). The closest previously drilled gold mineralisation to the discoveries is 6km to the west at the Kutuvuoma property (previously operated as a satellite operation to Rupert’s Pahtavaara mill) and 7km to the east at the Koppelokangas gold and base metals occurrence (previously drilled by Outokumpu). The Pahtavaara geology team continue to add to the existing inventory of drill-ready targets having recently received an updated geophysical interpretation, including data from a new ground gravity survey, which will provide the basis for an expanded follow-up drilling campaign in the area.

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 has an Inferred mineral resource at a 1.5 g/t Au cut-off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (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.
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MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR