Reunion Gold Provides an Update on Gold Exploration in Guyana
Longueuil, Canada, November 4, 2019. Reunion Gold Corporation (TSX-V: RGD) (the “Company”) is pleased to provide an update on ongoing exploration activities on projects in Guyana, which are part of the Strategic Alliance with Barrick Gold Corporation.
All projects are in the Cuyuni River basin in Northwest Guyana, the largest gold producing region in the country (Figure 1). This region is underlain by strongly deformed “greenstone belts” of Proterozoic age composed of volcanic and sedimentary rocks intruded by granitic plutons, forming an ideal environment for the creation of orogenic gold deposits.
Most of the exploration work completed by the Company in Guyana has been conducted on the Waiamu Project. A comprehensive exploration program of regolith geochemical sampling, geological mapping, trenching and drilling covering the 150 km² eastern half of the project area was carried out (Figures 2 and 3). The work done so far has identified a NE-trending sequence of mostly clastic sediments intercalated with mafic volcanic flows and a distinct doleritic sill, in which gold mineralization aligns closely with two sets of shear zones (Figure 2).
Geochemical sampling identified numerous zones of anomalous gold within the central volcanic-dominated domain on the project area and a subsequent detailed heliborne magnetic and radiometric surveys showed that these anomalous zones coincided with several structures (shears) which were then targeted for follow-up. The follow up work included over 7,800 meters of trench sampling over eight of the targets to date, and 4,050 meters of diamond drilling on two artisanal mining prospects, Ceguinho and St. John, as well as the W14 target area (Figures 2 and 3). Tables 1 and 2 show the best intersections from trenching and drilling, with several significant gold-mineralized zones. These zones are usually associated with strongly hydrothermally altered and sheared rocks.
Waiamu Project - Next steps and upcoming drill program
The objective of the 2019 exploration program has been to generate and test by trenching as many targets as possible. The prioritizing of targets is based on a comprehensive review of their associated geological, geochemical and geophysical anomalies. The Company has recently commenced an 80 line-km gradient array induced polarization geophysical survey over six of the current targets (Figure 3). Given the observed association of gold mineralization with sulphides in drill core, several new drill targets are expected to be generated from the current exploration area, and a follow-up drill program is being planned for the first quarter of 2020.
The western half block of the project area, also referred as Kartuni, is being covered by a detailed fixed-wing magnetic and radiometric survey, to be followed by stream sediment and regolith geochemical sampling and geological mapping in 2020.
Réjean Gourde, the Company’s CEO, stated: “Our work to date at Waiamu has demonstrated the presence of several widely mineralized gold targets. An ongoing review of the data is expected to soon generate new drill targets, which we plan to test early in the new year.”
Stream sediment sampling and geological mapping programs have been completed at the Aremu and Oko projects in October. A detailed fixed-wing magnetic and radiometric survey is planned to be completed on both projects in November. The Company expects to carry out comprehensive follow-up regolith geochemical sampling and trenching of targets early in 2020. The project areas are easily accessible by road and river, which facilitates the mobilization of trenching and drilling equipment.
The Aremu project area is at the confluence of the Aremu and Cuyuni rivers, where more than 15 km² of alluvial and primary gold mineralization has been artisanally mined for decades along the contact of a granitic intrusive and mafic volcanic rocks.
The Oko project area is about 20 km to the southwest of Aremu, underlain mostly by mafic volcanic and clastic sedimentary rocks cut by a gabbroic intrusive and the western edge of the Bartica granitic complex. The area has extensive artisanal gold production and numerous pits and shafts done on mineralized quartz vein swarms.
Quality assurance and quality control
The Company has implemented a quality assurance and quality control (QA/QC) program and chain of custody protocols for all its sampling programs. Trench samples are collected along continuous sub-horizontal hand-dug channels usually 1 to 2 m long, 10 cm wide and deep. Core drilling uses HQ‐size rods in saprolite and NQ‐size rods in fresh rock with half‐core samples collected. Sample length in core is usually 1.0 meter but varies according to geological contacts. Certified standards and blanks are inserted regularly and comprise approximately 10% of the number of total samples assayed. Samples are dried, crushed to 80% passing 2 mm, riffle split (250 g) and pulverized to 95% passing 105 microns and then analyzed for gold by fire assay with atomic absorption finish on 50‐gram pulps. Samples above 3 g/t gold are systematically re‐analyzed with gravimetry finish. All analysis are performed by Actlabs Guyana, an accredited laboratory according to ISO 9001(2015), IAF and ANAB, holding the TRC number 01033.
Carlos H. Bertoni, P. Geo., a consultant to the Company and a qualified person pursuant to National Instrument 43-101, has reviewed and approved the scientific and technical data contained in this press release.
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 program, 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. Such risks include but are not limited to: uncertainties regarding the availability of funds to conduct plan exploration programs and for additional capital requirements, uncertainty of exploration results; misinterpretation of data, logistical problems, volatility of gold price; mining risks, uncertainties related to the Company’s ability to acquire the Guyana Projects; and cost of exploration and development programs. 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) accepts responsibility for the adequacy or accuracy of this press release.
About Reunion Gold
Reunion Gold Corporation is a Canadian exploration company focused on acquiring, exploring and developing gold projects in the Guiana Shield, South America. The Company has entered into option agreements to acquire an interest in the Boulanger, Dorlin and Haute Mana projects in French Guiana and in the Waiamu, Aremu, Oko and Arawini projects in Guyana.
The Company’s 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 on the Company’s website (www.reuniongold.com). For further information please contact:
REUNION GOLD CORPORATION
Réjean Gourde, President & CEO
Telephone: +1 450.677.2585