TORONTO--(BUSINESS WIRE)--Apr 17, 2025--
Rupert Resources Ltd (“ Rupert ” or the “ Company ”) today provides an exploration update from its properties in the Central Lapland, Northern Finland including new drilling results and interpretations from Heinä South (1km from the 4Moz Ikkari Project, see press release dated February 18, 2025) and from other targets along the 12km regional structure east-northeast from Ikkari (the “Rajala” line).
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Figure 4. Schematic section along the Rajala Structure highlighting possible repeats of the Ikkari structural and lithological setting at depth, viewed looking southeast.
Figure 3. Geological Map centred on the Rajala Structure showing the location of IP lines referred to in the press release.
Figure 2. Plan map showing location of new drilling and intercepts at Heinä South, insert demonstrates location of detailed map in relation to the Ikkari Deposit
Figure 1. Plan map showing location of all assays >4g/t intersected at Heinä South to date, simplified (non-faulted) model of Gabbro footwall shown at surface for context
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HIGHLIGHTS
Graham Crew, Chief Executive Officer of Rupert Resources said “We are encouraged by today’s results and the potential to add to the 4Moz resource inventory at Ikkari through continued drilling success at satellite discoveries. Exploration remains a core part of Rupert’s DNA and we continue to systematically generate, test and assess exploration targets applying our proven exploration methodology and economic criteria to ensure efficient utilisation of exploration expenditure.”
Heinä South
As reported previously, drilling in 2024 had delineated continuous lower grade mineralisation over down hole widths of up to 29m to the southwest of the previously discovered Heinä South gold occurrence, this was typified in #124001 1.1g/t Au over 24.50m (see press release February 8, 2024). In addition to this, very-high grade mineralisation was intersected to the north of this trend. Structural interpretation during the summer months hypothesized a WNW structural control to the high-grade mineralisation sub parallel to the drill direction. This was tested in early 2025 by drilling on a different orientation specifically to target the high-grade mineralisation (Figure 1).
Drilling recommenced at Heinä South in January 2025. Hole #125001 intersected 45.7g/t Au over 8m including 362g/t Au over 1m. To the north several narrow, high-grade, intersections were encountered with #125015 intersecting 83g/t Au over 1m, #125007 intersecting 66g/t Au over 1m and #125010 intersecting 31g/t Au over 1m (Figure 2).
Ikkari – Saitta – Mike Trend
A 13-line 26km IP survey (Figure 3) was undertaken during Autumn 2024 and followed up with widely spaced drilling, including several holes to depth, along the trend. The program has confirmed the presence of the same stratigraphy that hosts that Ikkari orebody along the >7km strike length and provided evidence for a high-strain zone, analogous in orientation and dip of that present at the Ikkari orebody, occurring at depth. These observations confirm the inherent prospectivity of this trend and will feed into more detailed targeting over the coming months (Figure 4).
Target Generation
To date, since December, >2000 base of till (BoT) samples have been taken as part of Rupert’s continued greenfield exploration program. BoT has focused on the Rajala area, 15km northeast from Ikkari and the recently acquired Sayna exploration permit, 20km northwest from Ikkari. These grassroots campaigns will form the basis of Rupert’s target definition work informing future drill programmes through the balance of 2025 and into 2026.
Figures & tables
Figures are found on the following pages with tables in the Appendix at end of release. Figure and tables include:
Review by Qualified Person
Mr. Craig Hartshorne, a Chartered Geologist and a Fellow of the Geological Society of London, is the Qualified Person responsible for the accuracy of scientific and technical information in this news release.
The majority of samples are prepared by ALS Finland in either Sodankylä or Outokumpu. Fire assays are subsequently completed at ALS Romania whilst multielement analysis is completed in ALS Ireland. A minority of samples are prepared by Eurofins Laboratory in Sodankylä and Fire Assay is carried out on site. A pulverised sub-sample is then sent to ALS Ireland for multi-element analysis. All samples are under watch from the drill site to the storage facility. Samples at both laboratories are assayed using 50g fire assay method with aqua regia digest and analysis by AAS for gold. Over limit analysis (>100 ppm Au) are conducted using fire assay and gravimetric finish. For multi-element assays, Ultra Trace Level Method by 4-Acid digest (HF-HNO3-HClO4 acid digestion, HCl leach) and a combination of ICP-MS and ICP-AES are 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 samples have the pulp reject resubmitted for check assaying at a second laboratory.
Results presented include results from screen fire assay as indicated in Table 2. Screen fire assays were requested due to the presence of coarse gold in the drill core and were performed by ALS Romania. Screen fire assays involve the screening of 1kg at 106 microns to separate the sample into a coarse fraction (>106μm) and a fine fraction (<106μm). After screening, two 50g sub-samples of the fine fraction are analysed using the normal 50g fire assay method with aqua regia digest and analysis by AAS for gold. The entire coarse fraction is assayed to determine the contribution of the coarse gold using fire assay and gravimetric finish. The “total” gold calculation for the 1kg sample is based on the weighted average of the coarse and fine fractions and is reported for the indicated samples.
Base of till samples are prepared in ALS Sodankylä by dry-sieving method prep-41 and assayed for gold by fire assay with ICP-AES finish. 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 and external check assays.
About Rupert Resources
Rupert Resources is a gold exploration and development company listed on the Toronto Stock Exchange. The Company is focused on making and advancing discoveries of scale and quality with high margin and low environmental impact potential. The Company’s principal focus is Ikkari, a new high-quality, multi-million ounce gold discovery in Northern Finland.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which, other than statements of historical fact constitute “forward-looking information” within the meaning of applicable securities laws, including statements with respect to: results of exploration and development activities and 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. Forward-looking statements included in this press release include, but are not limited to, statements relating to: the Mineral Resource and Mineral Reserve estimates; plans and expectations regarding future exploration programs; plans and expectations regarding future project development; the progression of the EIA and Definitive Feasibility Study on the timeline contemplated herein, if at all; operating and cost estimates; future gold prices; the LOM; the achievement of commercial production at Ikkari on the timeline contemplated herein, if at all; and the Company’s plans for future advancement of the Ikkari Project. 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 29, 2024, available on the Company’s website atwww.rupertresources.comand on SEDAR+ atwww.sedarplus.ca. 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. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company does not intend, and does not assume any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Cautionary Note Regarding Mineral Resources and Mineral Reserves
Unless otherwise indicated, the scientific and technical disclosure included in this press release, including all Mineral Resource and Mineral Reserve estimates contained in such technical disclosure, has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (“ CIM ”) Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council on May 10, 2014 (the “ CIM Definition Standards ”). Readers are cautioned that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all, or any part, of Mineral Resources will be converted into Mineral Reserves. Inferred Mineral Resources are Mineral Resources for which quantity and grade or quality are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. Inferred Mineral Resources are based on limited information and have a great amount of uncertainty as to their existence and as to their economic and legal feasibility, although it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Inferred Mineral Resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves.
APPENDIX
Table 1. Collar locations of new drill holes, Heinä South
Table 2. New Intercepts from Heinä South
Figure 4. Schematic section along the Rajala Structure highlighting possible repeats of the Ikkari structural and lithological setting at depth, viewed looking southeast.
Figure 3. Geological Map centred on the Rajala Structure showing the location of IP lines referred to in the press release.
Figure 2. Plan map showing location of new drilling and intercepts at Heinä South, insert demonstrates location of detailed map in relation to the Ikkari Deposit
Figure 1. Plan map showing location of all assays >4g/t intersected at Heinä South to date, simplified (non-faulted) model of Gabbro footwall shown at surface for context
