Rupert Resources Drills New Discoveries At The Area 1 Target, Pahtavaara Project, Finland

Rupert Resources Ltd.


Rupert Resources Drills New Discoveries At The Area 1 Target, Pahtavaara Project, Finland

Tuesday, May 21, 2019 1:15 PM

TORONTO, ON / ACCESSWIRE / May 21, 2019 / Rupert Resources Ltd ("Rupert" or "the Company") (TSX-V: RUP) reports 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 focused 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 290km2 land 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."

The drilling reported today 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.

Figure 1. Rupert Resources regional target areas

Rupert's work in the Area 1 target area (figure 2) commenced in January 2019 with a planned 3,000 point BoT geochemistry program. Initial results from this program yielded several significant results with maximum values of 11 and 21g/t Au. This geochemistry program, combined with geophysical data from magnetic and gravity surveys, identified targets that were subsequently drilled in a 525m reconnaissance diamond drill program at the end of the winter drilling season.

Table 1. Significant Intercepts from Area 1 reconnaissance drilling


Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

119031

36.0

36.5

0.5

1.4

119032

118.0

119.0

1.0

2.9

119032

151.7

162.2

10.5

3.6

Inc.

156.0

157.5

1.0

10.9

Inc.

159.5

160.0

0.5

6.4

119033

41.0

43.0

2.0

3.4

Inc.

41.0

42.0

1.0

6.2

59.0

60.0

1.0

1.3

128.5

129.0

0.5

1.7

148.0

148.5

0.5

1.5

151.0

151.5

0.5

3.6

Notes to tables
* - Overlapping Intercepts, nsi - No Significant Intercepts, Reporting limits Au >0.5g/t, max 2m internal dilution. True widths cannot be determined from the information available, assay reports for holes 119031, 32 33 included in Appendix. No significant intercepts were received for DDH 119030 .

Table 2. Drill hole locations from Area 1 reconnaissance drilling


Drill hole locations
Hole
Easting
Northing
Elevation
EOH (m)
Azimuth
Dip

119030

452750

7497050

225.8

100.5

46.5

-44.6

119031

452799

7497099

225.8

99.5

43.5

-45.3

119032

454300

7498981

223.0

171.7

0.0

-45.0

119033

454201

7498151

226.7

152.9

45.0

-45.0

Figure 2. BoT anomalies and reconnaissance drill collars in Area 1, on background magnetics (blue - low magnetic response, red/pink - high magnetic response)

Descriptions of Area 1 drill holes

DDH 119032 was drilled to a downhole depth of 172m. Gold mineralisation is associated with pyrite in quartz-carbonate veins and massive pyrite that occurs at the contact between siltstone and barren footwall clastic breccia (figures 3 and 4). The drillhole was targeted to intersect a linear magnetic feature that trends eastwards for over 800m below a 21g/t Au BoT anomaly, a further 0.9g/t Au base of till anomaly occurs 500m east of the drill collar.

DDH 119033 targeted a discrete magnetic anomaly surrounded by anomalous gold and base metals in BoT (up to 1.1ppm Au), 800m to the south of 119032. The hole intersected a strongly weathered and brecciated sequence of metasediments. The broad brecciated zones are characterised by intense sulphide mineralisation (predominantly pyrrhotite and minor chalcopyrite) with associated gold and copper values throughout.. The hole ended in mineralisation at 153m.

Holes 119030 and 119031 were designed to intersect a linear trend of BoT anomalies (up to 11g/t Au) and coincident magnetic feature in the south western extent of Area 1. The holes were planned to drill across lithological contacts and potential structure. The drilled sequence comprises dolomite-bearing, carbonate-albite altered metasediments and basalt, with quartz-carbonate veins frequently hosting sulphides. No gold mineralisation that would explain the BoT anomaly was intersected in either hole. A number of further high grade BoT anomalies exist to the north east and east of these drill holes with assays including 2.8g/t Au and 5.6g/t Au approximately 200m and 600m respectively from the completed drilling. Further work is planned in this location.

Figure 3. 119032 core showing quartz - carbonate veining and massive pyrite

Figure 4. Cross section of hole 119032 showing location of original BoT anomaly (looking west)

Review by Qualified Person, Quality Control and Reports

In compliance with National Instrument 43-101, Mr. Mike Sutton, P.Geo. is the Qualified Person who supervised and approved the preparation of the scientific and technical disclosure in this news release.

Samples are prepared by ALS Finland in Sodankylä and assayed in ALS laboratory 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 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.

For further information, please contact:

James Withall
Chief Executive Officer
[email protected]

Thomas Credland
Head of Corporate Development
[email protected]

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, 2018 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

Partial Assay Report for DDH 119031

HOLEID

SAMPLEID

FROM (m)

TO (m)

SAMPLETYPE

Au ppm

Cu ppm

119031

990095144

33.00

34.00

DH1/2

0.02

176

119031

990095145

34.00

35.00

DH1/2

0.04

506

119031

990095146

35.00

35.40

DH1/2

0.06

1440

119031

990095147

35.40

36.00

DH1/2

0.21

8680

119031

990095149

36.00

36.50

DH1/2

1.46

4110

119031

990095150

36.50

37.00

DH1/2

0.11

205

119031

990095152

37.00

38.00

DH1/2

0.15

325

119031

990095153

38.00

39.00

DH1/2

0.11

140

119031

990095154

39.00

40.00

DH1/2

0.03

397

119031

990095155

40.00

41.00

DH1/2

0.02

283

Highlighted Assays >1ppm Au, >1000ppm Cu, , SampleType: NS - No Sample, DH1/2 - Half NQ diamond core

Partial Assay Report for DDH 119032


HOLEID

SAMPLEID

FROM (m)

TO (m)

SAMPLETYPE

Au ppm

119032

990095346

116.00

117.00

DH1/2

0.01

119032

990095347

117.00

118.00

DH1/2

0.02

119032

990095348

118.00

119.00

DH1/2

2.90

119032

990095349

119.00

120.00

DH1/2

0.01

119032

990095350

120.00

121.00

DH1/2

0.01

119032

990095372

140.00

141.00

DH1/2

0.06

119032

990095373

141.00

142.00

DH1/2

0.05

119032

990095375

142.00

143.00

DH1/2

0.52

119032

990095376

143.00

144.00

DH1/2

0.50

119032

990095377

144.00

145.00

DH1/2

0.11

119032

990095379

145.00

146.00

DH1/2

0.25

119032

990095380

146.00

147.00

DH1/2

0.17

119032

990095381

147.00

148.00

DH1/2

0.18

119032

990095382

148.00

148.40

DH1/2

0.03

119032

990095383

148.40

149.00

DH1/2

0.07

119032

990095385

149.00

149.50

DH1/2

0.03

119032

990095386

149.50

150.30

DH1/2

0.18

119032

990095387

150.30

151.00

DH1/2

0.02

119032

990095388

151.00

151.70

DH1/2

0.25

119032

990095389

151.70

152.20

DH1/2

4.39

119032

990095390

152.20

153.00

DH1/2

2.01

119032

990095391

153.00

154.00

DH1/2

3.43

119032

990095392

154.00

155.00

DH1/2

4.13

119032

990095393

155.00

156.00

DH1/2

0.22

119032

990095395

156.00

156.50

DH1/2

11.50

119032

990095396

156.50

157.00

DH1/2

10.25

119032

990095397

157.00

157.50

DH1/2

2.98

119032

990095398

157.50

158.00

DH1/2

0.01

119032

990095399

158.00

158.50

DH1/2

0.01

119032

990095400

158.50

159.00

DH1/2

1.65

119032

990095401

159.00

159.50

DH1/2

4.95

119032

990095402

159.50

160.00

DH1/2

6.43

119032

990095403

160.00

160.50

DH1/2

4.76

119032

990095405

160.50

161.00

DH1/2

3.39

119032

990095407

161.00

161.50

DH1/2

2.00

119032

990095408

161.50

162.20

DH1/2

2.41

119032

990095409

162.20

163.00

DH1/2

0.01

119032

990095410

163.00

164.00

DH1/2

0.01

Highlighted Assays >1ppm Au, SampleType: NS - No Sample, DH1/2 - Half NQ diamond core

Partial Assay Report for DDH 119033

HOLEID

SAMPLEID

FROM (m)

TO (m)

SAMPLETYPE

Au ppm

Cu ppm

119033

990095467

36.10

37.00

DH1/2

0.07

558

119033

Core Loss

37.00

38.00

NS

119033

990095469

38.00

39.00

DH1/2

0.07

941

119033

990095471

39.00

40.00

DH1/2

0.19

1760

119033

990095472

40.00

41.00

DH1/2

0.65

2720

119033

990095473

41.00

42.00

DH1/2

6.15

752

119033

990095474

42.00

43.00

DH1/2

0.06

1020

119033

990095475

43.00

44.00

DH1/2

0.08

812

119033

990095476

44.00

45.00

DH1/2

0.20

1900

119033

990095477

45.00

46.00

DH1/2

0.96

2610

119033

990095478

46.00

47.00

DH1/2

0.70

2730

119033

990095479

47.00

48.00

DH1/2

0.21

2100

119033

990095481

48.00

49.00

DH1/2

0.04

2480

119033

990095482

49.00

50.00

DH1/2

0.06

1820

119033

990095483

50.00

51.00

DH1/2

0.40

808

119033

990095484

51.00

52.00

DH1/2

0.22

1250

119033

990095485

52.00

53.00

DH1/2

0.15

1550

119033

990095486

53.00

54.00

DH1/2

0.14

1480

119033

990095487

54.00

55.00

DH1/2

0.33

1340

119033

990095488

55.00

55.75

DH1/2

0.75

1160

119033

Core Loss

55.75

57.60

NS

119033

990095491

57.60

58.00

DH1/2

0.15

1080

119033

990095492

58.00

59.00

DH1/2

0.04

876

119033

990095493

59.00

60.00

DH1/2

1.26

1330

119033

990095495

60.00

61.00

DH1/2

0.11

412

119033

990095496

61.00

62.00

DH1/2

0.13

261

119033

990095497

62.00

63.00

DH1/2

0.07

395

119033

990095499

63.00

64.00

DH1/2

0.19

520

119033

990095501

64.00

65.00

DH1/2

0.15

229

119033

990095502

65.00

65.60

DH1/2

0.34

322

119033

Core Loss

65.60

66.00

NS

119033

990095504

66.00

66.50

DH1/2

0.29

401

119033

Core Loss

66.50

67.30

NS

119033

990095506

67.30

67.55

DH1/2

0.03

111

119033

Core Loss

67.55

68.70

NS

119033

990095508

68.70

70.00

DH1/2

0.01

177

119033

990095578

127.00

127.60

DH1/2

0.01

291

119033

990095579

127.60

128.00

DH1/2

0.03

339

119033

990095581

128.00

128.50

DH1/2

0.75

4380

119033

990095582

128.50

129.00

DH1/2

1.67

2500

119033

990095583

129.00

129.50

DH1/2

0.68

1270

119033

990095584

129.50

130.00

DH1/2

0.57

945

119033

990095585

130.00

130.50

DH1/2

0.49

3110

119033

990095587

130.50

131.00

DH1/2

0.74

1060

119033

990095588

131.00

131.50

DH1/2

0.21

3030

119033

990095589

131.50

132.00

DH1/2

0.04

2570

119033

990095591

132.00

132.45

DH1/2

0.04

2110

119033

990095592

132.45

133.00

DH1/2

0.03

860

119033

990095593

133.00

134.00

DH1/2

0.01

113

Highlighted Assays >1ppm Au, >1000ppm Cu, SampleType: NS - No Sample, DH1/2 - Half NQ diamond core

Partial Assay Report for DDH 119033 continued


HOLE ID

SAMPLEID

FROM (m)

TO (m)

SAMPLETYPE

Au ppm

Cu ppm

119033

990095594

134.00

135.00

DH1/2

0.01

536

119033

990095595

135.00

135.50

DH1/2

0.25

3060

119033

990095596

135.50

136.20

DH1/2

0.16

4530

119033

990095597

136.20

137.00

DH1/2

0.25

4330

119033

990095598

137.00

137.50

DH1/2

0.15

161

119033

990095599

137.50

138.00

DH1/2

0.77

223

119033

990095601

138.00

139.00

DH1/2

0.05

63

119033

990095602

139.00

140.00

DH1/2

0.06

81

119033

990095603

140.00

141.00

DH1/2

0.11

994

119033

990095604

141.00

141.70

DH1/2

0.10

2450

119033

990095605

141.70

142.50

DH1/2

0.01

657

119033

990095606

142.50

143.00

DH1/2

0.02

1010

119033

990095607

143.00

143.50

DH1/2

0.02

1770

119033

990095609

143.50

144.00

DH1/2

0.02

1310

119033

990095611

144.00

144.50

DH1/2

0.02

2510

119033

990095612

144.50

145.00

DH1/2

0.01

890

119033

990095613

145.00

145.50

DH1/2

0.02

1440

119033

990095614

145.50

146.00

DH1/2

0.03

1430

119033

990095615

146.00

146.50

DH1/2

0.72

1260

119033

990095617

146.50

147.00

DH1/2

0.26

3960

119033

990095618

147.00

147.50

DH1/2

0.25

1620

119033

990095619

147.50

148.00

DH1/2

0.14

1390

119033

990095621

148.00

148.50

DH1/2

1.48

1300

119033

990095622

148.50

149.00

DH1/2

0.28

2390

119033

990095623

149.00

149.50

DH1/2

0.04

641

119033

990095624

149.50

150.00

DH1/2

0.12

638

119033

990095626

150.00

150.50

DH1/2

0.01

856

119033

990095627

150.50

151.00

DH1/2

0.18

628

119033

990095628

151.00

151.50

DH1/2

3.58

1270

119033

990095629

151.50

152.00

DH1/2

0.01

921

119033

990095632

152.00

152.85

DH1/2

0.02

658

Highlighted Assays >1ppm Au, >1000ppm Cu, SampleType: NS - No Sample, DH1/2 - Half NQ diamond core

SOURCE: Rupert Resources Ltd.


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