Reunion Gold provides an update on projects
Longueuil, Quebec, January 25, 2021. Reunion Gold Corporation (TSX-V: RGD) (the “Company” or “Reunion”) is pleased to provide an update on its exploration work in the Guiana Shield.
The Company's objective for 2021 is to focus on its most promising projects, including the Oko West project in Guyana, the Boulanger project in French Guiana, and the NW Extension project in Suriname (part of the Alliance with Barrick Gold Corporation). Reunion will also continue to assess other high-potential projects in the Guiana Shield, particularly in Suriname and Guyana.
Following the encouraging results from its trenching program at the Oko West project (see December 9, 2020 news release), the Company commenced an initial 1,000-meter drill program in December to test the vertical and lateral continuity of the trench anomalies. Following a short break for the holiday season, the drilling program has recently resumed. So far, 760 meters out of the 1,000-meter program have been drilled, and the program should be completed by the end of January. Results should be available for release by mid-February. Subsequently, additional trenching will be conducted along the six kilometres-long contact of volcanic and granitic rocks, of which only 30% has been explored so far. Reunion expects that this trenching work will generate additional drilling targets.
At the Boulanger project in French Guiana, the 2020 drilling program successfully defined two mineralized zones showing good lateral and depth continuity and significant gold grades (see December 17, 2020 news release). The project geology team is completing the interpretation of these results and designing the next phase of drilling.
The airborne geophysical survey at the Barrick Alliance NW Extension project in Suriname is scheduled to commence in February (see December 17, 2020 news release).
The Dorlin project in French Guiana, in which Reunion already defined mineral resources in compliance with Canadian National Intrument 43-101, is on standby while French authorities process a mineral concession application.
Carlos Bertoni, Reunion's acting CEO, stated: "We want to allocate resources to our most promising projects and, to that end, we have reviewed our project portfolio and decided to abandon our rights to acquire the Aremu North and Kartuni projects in Guyana. Barrick Gold had previously notified the Company of its decision to exclude the Aremu North project from the Alliance due to disappointing exploration results. We have also decided not to enter into a definitive option agreement for the Majorodam project in Suriname at this time".
The technical information in this press release has been reviewed and approved by Carlos H. Bertoni, P.Geo., the Company's Acting 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'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).
For further information, please contact:
REUNION GOLD CORPORATION
Carlos Bertoni, Acting CEO
Paul Fowler, Manager, Corporate Development
Telephone: +1 450.677.2585