LONGUEUIL, Quebec, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Reunion Gold Corporation (TSX-V: RGD) (the "Company") is pleased to report significant new gold intersections from its ongoing phase 3 drill program at its Oko West project in Guyana. Hole D21-053, which represents the deepest mineralized intersection to date, returned gold mineralization of 2.69 g/t over 59.0 m to a vertical depth of approximately 222 m below surface in unweathered rock. Hole D21-054, the third deepest hole drilled to date, also extended the deposit to depth in unweathered rock, returning 2.98 g/t over 64.50 m to a vertical depth of approximately 194 m (Figures 1 to 5 display drill hole location and sections).
These recent drill holes demonstrate that gold mineralization continues strongly at depth into unweathered rocks.
Lateral continuity of mineralization in the northern 2.5 km of the deposit continues to be confirmed.
The Oko West deposit remains open along strike and to depth.
The southern 3.5 km of the 6 km long geochemical gold anomaly remains open and largely untested.
The highlight composite intersections from this set of results can be seen in Table 1 and includes five of the 12 highest grade times meter composite intercepts reported to date from the project. The complete set of results from this release will be posted on the Company website.
Table 1. Composite drill intersection highlights
Dill hole ID
Diamond drill holes
Reverse circulation drill holes
The reported results are part of the ongoing 9,000-meter phase 3 drill program at Oko West, followed by a planned 15,000-meter phase 4 program. The ongoing program aims at continuing to expand the resource laterally and along strike between existing fences of drilling and, importantly, to continue to expand the deposit to depth into the unweathered rocks. The long section in Figure 6 illustrates the areas of the deposit that remain open to expansion that will be tested in phase 4.
Carlos Bertoni, the Company's Interim CEO, stated: "We are pleased by the lengths and grades of the mineralized intersections being reported. The deposit shows good continuity and is expanding at depth in the northern 2.5 km stretch of the soil gold anomaly, where most of the drilling has occurred to date. The phase 4, 15,000-meter drill program, is expected to be completed by the second quarter of 2022, with the goal of outlining a significant maiden resource at Oko West contained within an open pit."
The next steps to advance the Oko West deposit over the next six months are as follows:
Continue drill testing aimed at expanding the deposit laterally, along strike and to depth along the northern 2,500 meters of mineralization as illustrated in the long section in figure 5.
Use the RC rig to drill "scout" holes to test the southern 3.5 km of the geochemical anomaly and to look for potential parallel deposits to the west of the known deposit.
Follow up the initial positive metallurgical results (showing recoveries of 78% to 98% as outlined in the December 7, 2021, press release) with a complete metallurgical test plan.
Launch an environmental baseline study to IFC standards.
Appointment of Doug Flegg as Business Development Advisor
The Company is also pleased to announce the appointment of Doug Flegg, B.Sc., MBA, CFA, as its Business Development Advisor. Doug will be working closely with the Company's senior leadership to assist in its business development activities, including marketing, financing, and corporate development. Doug has over 35 years of mining and mining finance experience, including a technical background in geology fortified by equity research, portfolio management, and global mining sales. Doug was Managing Director Global mining sales at BMO Capital Markets for ten years and lately has been advising mining companies in strategic and business development matters. Doug has a B.Sc. (Honours Geology) and an MBA from Queen's University, and is a CFA charter holder.
Carlos Bertoni, Reunion's Interim CEO, stated: "We are pleased to welcome Doug to the Reunion Gold team. Doug is an experienced professional, and his financial and technical expertise will greatly help us move the Company forward."
Drill result composites, sample collection, assaying and data management
The Company calculates drill results composites with a minimum length of 2 m, a cut-off grade of 0.3 g/t, and up to 7 m maximum length of internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths. Complete drilling results and drill hole data are being posted on the Company's website. Diamond drill samples consist of half of either HQ or NQ core taken continuously at regular intervals averaging 1.4 m, bagged, and labelled at the site core shed. Reverse circulation drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged, and tagged at the drill site. Samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting the best chain of custody practices. At the laboratory, samples are dried, crushed up to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm, including cleaner sand. 50 g of pulverized material is fire assayed by atomic absorption (AA). Initial assays with results above 3,000 ppb gold are re-assayed with a gravimetric finish. Certified reference materials and blanks are inserted at 5% of samples shipped to the laboratory. Assay data is subject to QA/QC using acQuire software and management by an independent consultant.
The technical information in this press release has been reviewed and approved by Carlos H. Bertoni, P.Geo., the Company's Interim CEO. Mr. Bertoni is a qualified person under Canadian National Instrument 43-101.
This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company's control, including statements regarding plans to complete drilling and other exploration programs, potential mineralization, exploration results and statements regarding beliefs, plans, expectations or intentions of the Company. Resource exploration and development is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
About Reunion Gold
Reunion Gold Corporation is a leading gold explorer in the Guiana Shield, South America, with a portfolio of projects in Guyana, Suriname, and French Guiana. The Company has an option to acquire a 100% ownership interest in the Oko West Project in Guyana. The Company's common shares are listed on the TSX Venture Exchange under the symbol 'RGD.' Additional information about the Company is available on SEDAR (www.sedar.com) and the Company's website (www.reuniongold.com). The Company currently has 736.9 million issued and outstanding common shares.
For further information, please contact:
REUNION GOLD CORPORATION
Carlos H. Bertoni, Interim CEO, or
Doug Flegg, Business Development Advisor
Telephone: +1 450.677.2585
Figure 1: Plan map showing schematic geology, surface projection of grade block model, exploration "blocks," drill holes reported with composite assays (green dots) and cross-section locations (green bars).
DD are diamond drill holes, and RC are reverse circulation holes.
Figure 2: Cross-section B4C looking north showing schematic geology, drill hole projections and mineralized interval composites. Hole RC-101 was drilled at azimuth south, mostly off section. Drill intersections reported in this press release are shown in green colour.
Figure 3: Cross-section B4D looking north showing schematic geology, drill hole projections and mineralized interval composites. Hole RC-100 was drilled at azimuth north, mostly off section.
Figure 4: Cross-section B4E looking north showing schematic geology, drill hole projections and mineralized interval composites.
Figure 5: Cross-section B4F1 looking north showing schematic geology, drill hole projections and mineralized interval composites.
Figure 6: Longitudinal section looking west between exploration blocks 6 and 1 showing gold grade block model (8 m blocks) and areas targeted for expansion drilling to a depth of approximately 250 m from the surface (blue polygon).