Rupert Resources Recent Drilling at the Pahtavaara Project Indicating Extensions to Mineralisation and Base Metals Potential

TORONTO, March 01, 2018 (GLOBE NEWSWIRE) -- Rupert Resources Ltd (“Rupert” or the “Company”) (TSX VENTURE:RUP) (FRANKFURT:R05) provides an update on its activities at the Pahtavaara Project in the Central Lapland Greenstone Belt in northern Finland. The Pahtavaara Project comprises 225km² of contiguous licences, a permitted 1400tpd mill and 35km of underground infrastructure.

The development of a new geological model of the Pahtavaara gold deposit has made significant advances and the understanding of the structural controls, chronology of alteration, veining and gold mineralisation events will be used to inform resource modelling that is currently underway. Since the last drilling update to the end of 2017 the company has completed a total of 13,927m, including 8,357m from surface (54 holes) and 5,570m from underground (30 holes). Near mine exploration drilling has continued in 2018 along with an extensive underground mapping and sampling program within existing mine infrastructure. Good ground conditions and extensive underground infrastructure provide the geology team excellent exposure from which to study the potential to extend mineralisation, beyond that which will be considered in the current resource modelling.

James Withall, Chief Executive Officer of Rupert said, “The recent drill program was designed to begin to test our new geological model and has identified high grade structures and extensions at Pahtavaara. The results confirm the potential of the NFE zone to extend into the main Samurai and DB zones, the presence of near surface extensions at Karoliina, and evidence that the main Samurai zone mineralisation extends at depth beyond the mine development level below 450m. We continue to believe that the scale of the mineralising system at Pahtavaara is far larger than previous owners had considered.”

Pahtavaara Project, Northern Finland

The Pahtavaara deposit is hosted in a thick sequence of komatiite and high magnesium basalts that have been subjected to prolonged deformation, metamorphism and at least two gold mineralising events. The deposit was previously considered to be constrained to relatively narrow plunging zones, however drilling by prior owners and more recently by Rupert continues to intersect mineralisation beyond the constraints of previous mining throughout what is now considered to be a larger shear zone controlled system (see Figures 1 & 2).

To view Figure 1. Plan view of Pahtavaara showing significant intercepts and emergence of new zones, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/407e30fc-0dc9-44be-ad71-ed8bf0de2a2f

Drilling results

North Flank East

A number of encouraging intersections were drilled from surface in the North Flank East (“NFE”) zone including 8.7 grams per ton of gold (“g/t Au”) over 6.1m (hole 117068) and 5.2g/t Au over 2.4m (hole 117102) both at approximately 100m depth. From underground an intersection of 8.0g/t Au over 5.8m (hole 117379) from recent drilling and 12g/t Au over 4m (hole 117305) from previously released drilling extend this zone a further 50m deeper respectively. These holes are important because they show that mineralisation occurs in 400m gap between the Samurai and DB zones, which was ignored by previous operators and where previously released drilling by Rupert intersected 432g/t Au over 1m (dh116011) and 245g/t Au over 1m (dh116051) (see Rupert’s September 8, 2016 and January 18, 2017 press releases). Drilling at lower levels remains limited but historic underground drilling intersections of 5.6g/t Au over 3m (hole 112689) and 7.9g/t Au over 2m (hole 112563) indicate potential depth extension of this zone. Furthermore, as part of our current mapping and underground sampling program a structure at the -150 level (400m below surface) in the existing decline yielded assays of 3.5g/t Au, 26.2g/t Au and 4.9g/t Au. Our current analysis indicates that this structure may be the NFE zone at depth in an area with no previous drilling between the historically mined Samuari and DB plunge zones (see Figure 3). See Table 1 for full drill results.

Samurai Deeps

Seven holes were drilled at steep angles from underground infrastructure to test continuity of the main Samurai shoot at depth. Despite the poor angle, 4 holes intersected the outer limits of the alteration zone that hosts the zone with grades between 1.1g/t Au and 2.3g/t Au. Hole 117394 ended in mineralisation and will be extended in a later program. A followup drill program from a newly dewatered  area in the decline to the Samurai Deeps target will allow drilling below previously intersected unmined mineralisation indicated by drill holes 112598 (2.3g/t Au over 8m, including 5.4g/t Au over over 1m), 111664 (6.55g/t Au over 10m), 112626 (4.2g/t Au over 9m) and 112008 (4.0 g/t Au over 10m, including 10.7g/t Au over 1m) (See Figure 3). See Table 1 for full drill results.

To view Figure 2. Pahtavaara long section looking north showing mineralisation zones and mine infrastructure, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/04fd47ed-f872-4aae-b949-b5df2105d344 

To view Figure 3. Pahtavaara section looking north west showing NFE and continuation of Samurai at depth, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/43fc0cca-4c22-4a87-919b-f623c4aa585f

Karoliina East and Karoliina West Zones (previously referred to as the Karoliina and Wilhemiina zones)

This part of the deposit extends over 600m in strike and has now been divided into two zones each containing one or more plunge zones. The drilling results released include two holes in each zone that may represent extensions of these zones coming to surface.

In Karoliina West, hole 117117 intersected 6.8g/t Au over 17m from 55m and hole 117095 intersected 16.7g/t Au over 2m from 81m, 43m along strike to the west. Also released today, hole 117113 intersected 4.8g/t Au over 7.9m at 230m down the inferred dip direction from hole 117117. At Karoliina East, hole 117115 intersected 7.7g/t Au over 4.4m from 66m and hole 117091 intersected 1.7g/t Au over 19m from 89m. These holes also intersected above the previously interpreted mineralised zones with both zones potentially open to surface. See Table 1 for full drill results. The Karoliina zones remain open in all directions. Further drilling will be planned based on our updated structural interpretation.

Exploration drilling and sulphide potential

The company has completed 3,468m of drilling in 25 holes generating 3,423 samples over a number of near mine exploration targets. To date, results have only been received for 13 holes totalling 2,096 assays of this program. 

Liikamaa (formally referred to as IP south)

Four holes were drilled over a combined IP and Ionic Leach (IL) target following up a potentially large IP resistivity anomaly and copper ionic leach results from the 2017 fieldwork programme. Hole 117130 revealed a thick zone of disseminated and vein hosted sulphides with a best intersection of 0.2% Cu over 29m. Hole 117129 on the same line has now been extended and logging data suggest the same zone has now been intersected. Hole 117125, 105m to the southwest of 117130, intersected a 0.65m sulphide vein with chalcopyrite and pyrite and a grade of 2.1% Cu. Further work here is planned in the 2018 field season as the broad zone in holes 117129 and 117130 may project to surface. See Table 2 for full drill results.

Lansi

Three holes were drilled in the Lansi prospect where drilling by previous operators in hole 112806 produced 7.7g/t Au, 218 g/t Ag, 6.7% Cu and 0.7% Ni over 6m. All three holes intersected gold and nickel mineralisation with hole 117120 intersecting narrow gold mineralisation of 1g/t Au over 0.8m from 13m and 1.7% Ni over 3.9m from 111.2m; 117121 intersecting 1.1g/t Au over 1.4m from 52m, 1.5g/t Au over 1.1m from 73m, 1.2% Ni over 2.3m from 76.5m and 1.5% Ni over 2m from 80m; and hole 117122 intersecting 1.6% Ni over 0.9m from 105m, 1.1% Ni over 1m from 153 and 1.3g/t Au over 0.8m from 130m. The nickel sulphide intercepts occurred at similar down hole depths and the 75m spaced holes may represent a continuous zone. Further interpretation work of this and other sulphide zones at Lansi is ongoing. See Table 3 for full drill results.

Resource Development

Resource work continues at Pahtavaara and Rupert plans to release an updated 43-101 resource statement for Pahtavaara by the end of the June 2018 quarter. The resource work will incorporate all drilling completed at the Pahtavaara project over the past 20 years along with resource drilling completed by Rupert since assuming ownership of the property in 2016 to end December 2017. 

Mineralisation

Unless specified in this press release, true widths (TW) cannot be determined from the information available Intersections are down hole length. Holes are orientated to cross cut the alteration zone that contains mineralisation, however structures within the alterations zones have multiple orientations and true width of these structures may not be represented by the width disclosed. No upper cut-off grade was applied.

Intercepts reported above are hosted by amphibolitised komatiites. The principal geologic control in the area is a linear structural corridor that trends between east-west and northeast-southwest with gold mineralisation identified in both the larger structures parallel to this trend. oblique fractures and steeply plunging zones that represent the intersection of these structures or fold hinges. The mineralised zone identified on Rupert’s Pahtavaara property is characterised by hydrothermal alteration and mineralisation within various phases of pervasively altered komatiites. The hydrothermal alteration and the Au-bearing structures and veins associated are a result of a prolonged period of ductile deformation and later brittle-ductile deformation related to a belt scale thusting event. Mineralisation remains open at depth along the entire zone. Gold occurs mostly as free gold, a smaller part is associated with magnetite.

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 the preparation of the scientific and technical disclosure in this news release. Samples are assayed by CRS/Actlabs Finland at Takatie 6, 90440 Kempele Finland, who have ISO9001 sample prep and ALS Minerals at Sodankyla, Finland and Pitea, Sweden. All core is under watch from the drill site to the core processing facility. Samples are assayed using cyanide leach methods with AAS detection of Au. 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 with the results averaged and intersections updated when received. Core recovery in the mineralised zones has averaged 99%.

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 (see the Company’s November 9, 2016 press release). The Company also holds a 100% interest in the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake Mining Division of Ontario. Two properties in Central Finland, Hirskangas and Osikonmaki are subject to a binding letter of intent with Northern Aspect Resources Limited wherby Rupert proposes to acquire a 100% interest in the properties (the “Proposed Transaction”) (see the Company’s January 15, 2018 press release).

For further information, please contact:

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.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release. 

Cautionary Note Regarding Forward Looking Statements

This press release contains statements which constitute ”forward-looking statements”, including the statements with respect to those that address potential quantity and/or grade of minerals, potential for minerals, completion of the proposed Transaction and statements regarding the plans, intentions, beliefs and current expectations of the Company. 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, 2017 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

Table 1. Pahtavaara mine new diamond drilling intersections >1.0g/t Au (Feb 2018)

*Unless specified in this press release, true widths (TW) cannot be determined from the information available No upper cut-off grade was applied. Surface holes 117069, 117071, 117076, 117078, 117080, 117082, 117084, 117085, 117087 to 117089, 117093, 117101, 117104 and 117106 to 117111 as well as underground holes 117373, 117375, 117376, 117381, 117382, 117385, 117386, 117388 to 117391 and 117395 to 117397 did not intersect mineralisation with grades >0.5g/t Au. 

Table 2. Pahtavaara exploration new diamond drilling Cu intersections (Feb 2018)

Table 3. Pahtavaara exploration new diamond drilling nickel intersections >0.5% Ni (Feb 2018)