Rupert Resources drills 6.5 g/t gold over 33 metres at Ikkari, Finland

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Rupert Resources Ltd. [RUP-TSXV; RUPRF-OTC; R05-FSE] provided an update on new drilling from its 100%-owned Ikkari and Heina South discoveries in northern Finland.

Ikkari has a NI 43-101 Inferred Mineral Resource estimate of 49 million tonnes at 2.5 g/t gold for 3.95 million ounces. Over 44,000 metres of drilling has now been completed at Ikkari since the maiden resource statement in September 2021, focused on upgrading and expanding the Ikkari resource estimate. Elsewhere, regional exploration continues with around 25,000 metres drilled on targets excluding Ikkari since September 2021.

New drilling at Ikkari extends to the west a previously identified zone of mineralization at depth. Drill hole #122031 returned 31 metres of 1.1 g/t gold from 173 metres, 16 metres of 2.2 g/t gold from 271 metres, 13 metres of 5.8 g/t gold from 431 metres, including 1 metre of 51.7 g/t gold and 30 metres of 2.8 g/t gold from 471 metres (378m vertical).

In central Ikkari, further high-grade results were received, and mineralization was intersected at depth beyond the limits of previous drilling. Drill hole #121071 returned 33 metres of 6.5 g/t gold from 299 metres and 16 metres of 3.0 g/t gold from 445 metres (413m vertical).

Infill drilling in the west of the Ikkari deposit continues to confirm broad gold intercepts from surface (beneath till), as well as at depth at the margin of September 2021’s maiden resource estimate). Hole #122066 returned 72 metres of 2.2 g/t gold from 10.4 metres (9m vertical, sub-crop under till cover). Hole #122058 returned 53 metres of 2.2 g/t gold, from 10 metres (9m vertical). Hole #122053 returned 41 metres of 2.5 g/t gold, from 207 metrres (152m vertical) and 19 metres of 2.7 g/t gold, from 493 metres (377m vertical).

Drilling at Heina South, 300 metres south of the main Heina South trend and 800 metres northwest of Ikkari intersected the following new mineralization. Hole #122072 returned 2 metres of 4.9 g/t gold from 131 metres, 15 metres of 1.1 g/t gold from 142 metres and 3 metres of 2.5 g/t gold from 204 metres.

James Withall, CEO, commented: “The new drilling at Ikkari continues to expand the mineralized envelope with the infill drilling undertaken this winter season essential to improving resource confidence and maintaining the permitting timeline for the project. We continue to increase our understanding of the broader mineralizing system through drilling and a recently completed geophysical survey. This will inform our next round of step out drilling at Ikkari and our exploration programmes to make further discoveries of scale in the region. Ikkari remains the cornerstone discovery in a potential new mining camp in a tier one jurisdiction.”

Results from a further 18 holes continue to define broad mineralized zones, from surface, within the Ikkari orebody. New results are mostly from the west of the deposit and demonstrate consistently mineralized intercepts at shallow depths e.g. #122066 returned 72 metres of 2.2 g/t gold from 10.4 metres (9m vertical, sub-crop under till cover) as well as identifying deeper zones of mineralisation e.g. 47 metres of 1.9 g/t gold from 168 metres, suggesting continuity to depth. Similarly, hole #122031 returned 30 metres of 2.8 g/t gold from 471 metres (378m vertical).

Hole 122071, in the central part of the deposit confirms the main high-grade zone (33m of 6.5 g/t gold from 299m) and further extends mineralisation to depth in the south (16m of 3.0 g/t gold from 445m, 413m vertical and 6m of 2.0g/t Au from 503m, 465m vertical). These results extend the mineralized zone by up to 80 metres depth on this section.

At Heina South, infill drilling along the 1-km long mineralized trend further confirms mineralization, with results from #122050 of 7 metres of 4.5 g/t gold from 153 metres, #122063 with 4 metres of 4.0 g/t gold from 112 metres and 3 metres of 2.1 g/t gold from 205 metres, and hole #122054 with 5 metres of 2.7 g/t gold from 109 metres.

A further 300 metres south of the Heina South trend, initial results from a second, similarly-mineralized zone, parallel to the trend, indicate multiple mineralized zones. #122072 returned 2 metres at 4.9 g/t gold from 131 metres, 15 metres at 1.1 g/t gold from 142 metres and 3 metres at 2.5 g/t gold from 204 metres.

The company’s principal focus is Ikkari, a new high quality gold discovery. Ikkari is part of the company’s Rupert Lapland Project, which also includes the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt of Northern Finland (Pahtavaara).


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