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Rupert Resources Extends Mineralisation at Ikkari With First Drill Hole of New Season and Provides Update on Development Programs
TORONTO / Sep 19, 2022 / Business Wire / Rupert Resources is pleased to report drilling from the start of its 2022-23 exploration program and provide an operati
About this update from Rupert Resources Ltd.
[{"type":"text","content":"TORONTO / Sep 19, 2022 / Business Wire / Rupert Resources is pleased to report drilling from the start of its 2022-23 exploration program and provide an operational update on advancing its multi-million ounce Ikkari gold discovery at the 100% owned Rupert Lapland Project in Northern Finland. Ikkari has a maiden National Instrument 43-101 mineral resource estimate of 49 million tonnes (“Mt”) at 2.5 grams per tonne gold (“g/t Au”) for 3.95 million Inferred ounces (see Sept. 13, 2021 press release)1. James Withall, CEO of Rupert Resources commented, “We are in the unique position in our industry of having delineated the 4Moz Ikkari maiden resource less than two years out from the first discovery hole. We continue to add to our understanding of the Ikkari’s value and future potential through the PEA work, metallurgical data continue to support extremely beneficial metallurgical characteristics previously released, coarse grind size, >95% recovery which underpin the potential for a low-emission, high margin operation. Building on the achievements to date, drilling has recommenced, focussed on expanding the limits of the Ikkari resource and at regional targets to demonstrate further opportunities in the emerging Central Lapland gold belt.” 2022-2023 Exploration Program The 2022/2023 work program, as of August 2022, is planned to include 72,800m of drilling. Around 30,000m will be allocated to Ikkari infill and project drilling with the balance divided equally between Ikkari extension and satellites; and regional exploration across Rupert’s 634km2 land position targeting additional discoveries of scale. Rupert is particularly focused on near-term resource additions over the upcoming winter drilling season to ensure these can be included in future economic and environmental assessments and the eventual permitting application for the Project. Rupert is pleased to report results from the first hole of the 2022/2023 drilling season targeting extensions of mineralised zone in the east from previous holes. #122180 – 32.5m of 2.2g/t Au from 571m (500m vertical) extending mineralisation in the east by approximately 110m in the downdip direction, beyond the limits of the current resource estimate. The intercept included 1m at 11.3g/t and 0.7m at 17.3g/t demonstrating some of the high-grade characteristic common to Ikkari Further infill drill...