Reunion Gold estimates Oko West resources of 2.47 Moz indicated at 1.84 g/t gold, Guyana
Reunion Gold Corp. [RGD-TSXV; RGDFF-OTCQX] reported an initial mineral resource estimate (MRE) at the Kairuni zone on its Oko West project in Guyana, with an effective date of June 1, 2023. The pit constrained MRE comprises 2,475,000 ounces of gold in indicated mineral resources contained within 41,789,000 tonnes grading 1.84 g/t and 1,762,000 ounces of gold in inferred mineral resources contained within 27,129,000 tonnes grading 2.02 g/t gold.
The initial pit constrained mineral resource estimate (MRE) consists of 2,475,000 Moz gold in indicated mineral resources grading 1.84 g/t gold, and 1,762,000 gold in inferred mineral resources grading 2.02 g/t Au.
Gold mineralization at the Kairuni zone remains open at depth, with high grade zones already demonstrated beneath the open pit constrained MRE in Block 4.
The MRE confirms a distinct high-grade gold mineralized domain within Block 4, parallel to the Footwall Granitoid, which remains open at depth. This zone has been defined using 75 drill hole intercepts within Block 4. These intercepts averaged a grade of 7.38 g/t gold with an average estimated true thickness of 5.6 metres.
An infill and expansion drilling program continues on the Kairuni zone, with the intention of expanding the high-grade domain in Block 4 to depth; expanding the volume of resources in blocks 5, 6 and 7 and infill drilling of inferred resources to a drill spacing suitable for conversion to an indicated classification.
In addition to the continuing drilling at the Kairuni zone, the company believes there is further potential to discover additional zones of gold mineralization outside of the Kairuni zone — an exploration program including 15,000 m of combined RC and diamond drilling is initially planned to target these areas. Rick Howes, president and CEO, commented: “Today’s maiden resource confirms Oko West as a quality multimillion-ounce gold discovery with potential for further growth. Thanks to our exploration team’s hard work, in just 22 months of drilling, we have outlined a sizeable resource containing 60-to-100-metre thick saprolite cover, good grade continuity over a 70 metres average thickness to a depth of over 600 metres and with grades well above industry average. Further work is planned to both grow and infill this maiden MRE, which remains open to further expansion, particularly at depth. In addition, we continue to explore several other promising targets on our prospecting licence including the Bryan, Takutu and Carol zones. In parallel with the exploration programs, we intend to rapidly advance this exciting new discovery and plan to release a preliminary economic assessment (PEA) in the fourth quarter. We are pleased with this early success and we believe we have one of the best advanced exploration stage gold projects due to its size, grade, straightforward metallurgy, further potential and favourable jurisdiction.”
David Fennell, executive chairman, added: “On behalf of the board, I would like to congratulate and thank the tremendous effort by the entire exploration team involved in the discovery of the Oko West gold deposit. I would particularly like to thank our former interim CEO, Carlos Bertoni, and credit his leadership of the team responsible for this discovery as the project advanced from initial drill testing through to the completion of resource definition drilling that resulted in a maiden mineral resource estimate after only 22 months of drilling. A greenfield discovery by a junior company is one of the most difficult challenges in the resource industry so this represents a tremendous accomplishment.”
In addition to its exploration program, the company continues to move its development program on the Kairuni zone forward with the assistance of G Mining Services Inc. The company is currently carrying out a PEA-level metallurgical study to define the preliminary processing flowsheet and indicative metallurgical performance and recovery of the Oko West mineralization. The company will also be conducting the second phase of the environmental baseline study in 2023 in preparation for submission of an environmental impact assessment anticipated in 2024.
The Oko West project comprises one prospecting licence issued to Reunion Gold, the company’s 100%-owned Guyanese subsidiary, on September 23, 2022. The prospecting licence has a surface area of approximately 10,890 acres (4,407 hectares). The Oko West project straddles the Cuyuni-Mazaruni mining districts in north-central Guyana, South America, and is located approximately 100 km west-southwest of Georgetown, the capital city of Guyana.