Rupert Resources Ltd - CEO, James Withall
CEO, James Withall
Source: YouTube (Mining Journal Select)
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  • Rupert Resources (TSXV:RUP) has posted the assays from it’s Pahtavaara Project in Finland
  • Assays returned 137.2 metres at a grade of 1.8 grams of gold per tonne from 10.8 metres down, including 7.1 grams of gold per tonne over 14 metres and a further 10.6 grams of gold per tonne over 3 metres.
  • The other notable result was 54 metres grading at 1.5 grams of gold per tonne from 25 metres, including 4.7 grams per tonne of gold over one metre
  • Rupert Resources was recently funded by Agnico Eagle for C$13 million
  • Rupert Resources (RUP) is up 28 per cent at $1.12 per share, with a market cap of $174 million.

Rupert Resources (TSXV:RUP) has sunk its maiden drill holes at the company’s Pahtavaara project in the Central Lapland Greenstone Belt in Finland.

The company has hit a significant gold hosting structure, a new target called Ikkari. The target was identified using till sampling across a five kilometre stretch of the Pahtavaara project, known simply as Area 1.

The assays returned 137.2 metres at a grade of 1.8 grams of gold per tonne from 10.8 metres down, including 7.1 grams go gold per tonne over 14 metres and a further 10.6 grams per tonne of gold over three metres.

The other notable result was 54 metres grading at 1.5 grams per tonne of gold from 25 metres, including 4.7 grams of gold per tonne gold over one metre.

Rupert’s exploration program as thus far included 13,712 metres of drilling across 77 holes drilled across Area 1. That is a rather compact drilling program, but it seems to have worked for the company.

James Withall, CEO of Rupert Resources, said the company’s first two holes sunk at Ikkari were the most significant of the entire regional exploration program to date, returning good grades across a very broad shear structure.

“So far, we have only drilled 100 metres of the interpreted strike, the base of till anomaly has a strike extent over 500 metres and this is limited only by the current extent of our sampling.

“Rupert’s exploration team have demonstrated yet again the success of their systematic approach to exploration delivering a new strike discovery in just over 12 months,” he added.

Rupert recently got a big shot in the arm when it was funded to the tune of $13.1 million from Agnico Eagle Mines.

Rupert Resources (RUP) is up 28 per cent to $1.12 per share at 12:00pm EDT.

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