REUNION GOLD ANNOUNCES STRONG DRILL RESULTS INCLUDING INTERSECTS OF 71.0 M @ 5.77 G/T GOLD AND 88.8 M @ 4.13 G/T GOLD FROM ITS DEEP DRILLING PROGRAM (BELOW 500 M DEPTH) AT ITS OKO WEST PROJECT IN GUYANA
• Drilling for the conversion of Inferred category to Indicated category resources continued within the MRE pit constraint, and continued to deliver expected high grade intersects including D-328 intersecting 75.0 meters (m) @ 4.07 g/t Au, D-288A intersecting 100 m @ 2.24 g/t Au, and D-243-W2 intersecting 98.8 m @ 2.13 g/t Au.
• Drilling below the MRE pit shell, at depths of 500 to 800 meters below surface, has continued with the objective of defining an underground resource. Highlights from drill holes at these depths include D-243-W1 intersecting 71.0 m @ 5.77 g/t Au, D-316 intersecting 88.8 m @ 4.13 g/t Au, including 10.8 m @ 14.96 g/t Au and 21.8 m @ 6.45 g/t Au, and D-320 intersecting 20m @ 4.41 g/t Au.
• With continued strong results from this deep drilling program, the Company has made the decision to delay the delivery of a PEA until the end of Q2/24 to include an underground resource, and to include the economic assessment of a potential combined open pit and underground mining operation.
Longueuil, Québec, October 19, 2023 – Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company” or “Reunion Gold”) is pleased to continue reporting positive drill results from its ongoing infill and deep drilling programs. The infill program is designed to upgrade the classification of the Inferred mineral resources within the maiden Mineral Resource Estimate (MRE) to an Indicated category. The deep drilling program is aimed at testing and defining the potential for an underground resource at depths greater than 500 meters below surface.
For a detailed list of results associated with this press release, please see Reunion Gold’s website: Results
“We are very encouraged with the results of the deep drilling program to date, which indicate the potential for a high-grade zone at depth” said Rick Howes, President and CEO of Reunion Gold. “With these results, we see the potential to add significant value as a combined open pit and underground project and therefore we intend to continue the depth extension drilling program and delay the release of the PEA to allow for inclusion of an underground resource and evaluation of combined open pit and underground option to the PEA study, which we would expect to release in Q2 of 2024.”
Deep Drilling Program
Highlights of results from the deep drilling program below Block 4 can be seen in Table 1 and on Figure 1 which reports the broader intervals using a 0.3 g/t cutoff and includes the higher-grade intercepts using a 1.5 g/t cutoff. In addition to hole D-243-W1, results of note include holes D-316 and D-320, both of which reported high grade gold intercepts, representing a significant expansion of known mineralization at depth. These intercepts are being interpreted as the depth extension of the high-grade zone that was identified in the maiden MRE reported on June 13, 2023 (see associated press release on that date). Hole D-316 intercepted 88.8 m @ 4.13 g/t Au, including 10.8 m @ 14.96 g/t Au from 772.4 m to 783.2 m downhole and 21.8 m @ 6.45 g/t Au from 787.9 m to 809.7 m downhole (reported using a 1.5 g/t cutoff grade). Hole D-320 reported 83.0 m @ 1.92 g/t including 3.0 m @ 4.79 g/t Au from 777m to 780 m downhole and 20.0 m @ 4.41 g/t Au from 800 m to 820 m downhole. Hole D-243-W1 reported significant high-grade intercepts including 71.0 m @ 5.77 g/t Au from 504.0 m to 575.0 m downhole.
“On-going structural work is continuing to demonstrate a steep northerly plunge to our high grade zone, which sits within the larger volume of mineralization apparent along the 2 km trend from Block 1 through Block 4 to Blocks 5 and 6. The high-grade zone appears to have a relatively sharp boundary along its southern margin, an orientation confirmed through structural analysis of our oriented drill core, although we are confident that drilling to date is demonstrating a 150 m to 300 m wide high-grade zone of mineralization that plunges well below the drill holes reported in this release” Justin van der Toorn, VP Exploration for Reunion Gold explained.
Table 1 – Selected Significant Intersects below 500m depth within Blocks 1 & 4
* Estimated True Thickness ("ETT") based on an average dip / dip direction of -65° / 095° to represent the orientation of the mineralized zone in Block 4.
** Significant intervals calculated using a 0.3 g/t Au cutoff, 10m minimum length and 10m maximum consecutive internal waste. Included intervals calculated using a 1.5 g/t Au cutoff, 3m minimum length and a 2m maximum consecutive internal waste.
Infill Drill Results
The infill drilling program is designed to upgrade the inferred resources within the MRE pit shell to an Indicated mineral resource category. The drill results shown in Table 2 and Figure 1 continue to illustrate the strong continuity of the mineralization within the MRE pit constraints. Highlights include D-328, which intersected 75 m@ 4.07 g/t Au, hole D-288A which intersected 100 m @ 2.24 g/t Au, hole D-243W2 intersecting 98.8 m @ 2.13 g/t Au and hole D-325A intersecting 67.2 m grading 3.06 g/t all reported using a 0.3 cutoff. The infill drill program will be completed by the end of this year.
Table 2 – Selected Significant Intersects above 500m depth within Blocks 1 & 4
* Estimated True Thickness ("ETT") based on an average dip / dip direction of -65° / 095° to represent the orientation of the mineralized zone in Block 4.
** Significant intervals calculated using a 0.3 g/t Au cutoff, 10m minimum length and 10m maximum consecutive internal waste. Included intervals calculated using a 1.5 g/t Au cutoff, 3m minimum length and a 2m maximum consecutive internal waste.
Update on release of PEA
With the strong results that have been reported from the deep drilling program, which confirm the potential for the higher-grade zone to continue at depth, the Company has decided to delay the release of the PEA until the end of Q2/2024. This will allow the Company to continue to drill the high-grade zone down to a depth of approximately 1000 meters with the goal of including an underground mineral resource for use in the PEA. In addition, it will give the Company time to investigate the potential to develop a combined open pit and underground mining operation as part of the PEA. The PEA will also look at, amongst other things, the optimal transition point between open pit and underground mining as well as the sequencing of the potential underground mine.
Exploration
In addition to the ongoing drilling at the Kairuni zone the Company also continues to advance its exploration programs on the remainder of the Oko West Prospecting License with the implementation of ground magnetics and IP geophysical surveys, RC drill programs and follow up diamond drill programs.
Drilling to the south of Block 4, on Blocks 5, 6, and 7, focuses on the southern continuation of the main Kairuni mineralized trend and contact zone. Follow up diamond drilling in this area has intersected additional zones of mineralization as shown on Figure 2 and as detailed in the associated tables of significant intervals available on the Company’s website.
Follow up of the geochem anomalies generated from shallow Scout RC drilling (sampling below the duricrust) on the High Road target commenced with 23 conventional RC holes completed, for a total of 2,444 m of drilling. The location of these RC drill collars on the High Road target area, located approximately 2 km northwest of the Kairuni MRE, is shown on Figure 3. Assays were received for five of these holes, with R-1414 reporting 3.0 m @ 8.75 g/t Au from 58.0 m downhole. Further assays are pending for this High Road target area and other new target areas.
Sample Collection, Assaying and Data management
Significant intervals in this press release have been calculated using a grade cut-off of 0.3 g/t Au, a minimum length of ten meters, and up to ten meters maximum length of consecutive internal waste. Included significant intervals have been calculated using a grade cut-off of 1.5 g/t Au, a minimum length of three meters, and up to two meters maximum length of consecutive internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths and estimated true thickness (“ETT”) has been calculated using an assumed plane of mineralization dipping 65° towards 095°, representative of the mineralization identified in Block 4. Complete drilling results and drill hole data are posted on the Company's Website. Diamond drill (DD) 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 (RC) drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged, and tagged at the drill site. All resource drilling samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting best-practice chain of custody procedures. Samples from the Scout RC program and recent conventional RC samples are shipped to MS Analytical in Georgetown using the same chain-of-custody procedures. At each laboratory, samples are dried, crushed to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm. Coarse blanks are inserted by the Company, and are used between and following suspected high-grade intervals. Barren sand flushes are inserted by the analytical laboratory after each sample is pulverized to clean the bowl. Gold analysis is carried out through a 50 g fire assay with an atomic absorption finish. Initial assays with results above 3.0 g/t Au are re-assayed with a gravimetric finish. Samples with visible gold are additionally assayed with a metallic screen method using 1 kg of pulp. Certified reference materials and blanks are inserted at a rate of 5% of samples shipped to the laboratories. RC field duplicates and DD umpire pulp duplicates are also generated at a rate of 5% of samples. Pulp umpire duplicates are analyzed at the MSALabs certified laboratory in Georgetown. Assay data is subject to QA/QC prior to accepting into the Company database managed by an independent consultant.
Qualified Person
The technical information in this press release has been reviewed and approved by Justin van der Toorn, the Company's VP, Exploration. Mr. van der Toorn (CGeol FGS, EurGeol) is a qualified person under Canadian National Instrument 43-101.
About Reunion Gold Corporation
Reunion Gold Corporation is a leading gold explorer and developer in the Guiana Shield, South America. In early 2021, the Company announced an exciting new greenfield gold discovery at the Kairuni zone on its Oko West project in Guyana, where in June 2023, after 22 months of resource definition drilling, the Company announced an initial Mineral Resource Estimate containing 2.475 Moz of gold in Indicated resources grading 1.84 g/t Au and 1.762 Moz of gold in Inferred resources grading at 2.02 g/t (see NI 43-101 Technical Report Oko West Gold Project, Cuyuni-Mazaruni Mining Districts, dated effective June 1, 2023 available under the Company’s profile on SEDAR+). In addition to advancing development of the Kairuni zone resource, the Company is actively exploring several additional priority exploration targets at Oko West with the objective of outlining additional satellite deposits.
The Company's common shares are listed on the TSX Venture Exchange under the symbol 'RGD' and trade on the OTCQX under the symbol 'RGDFF'. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.reuniongold.com).
For further information, please contact:
REUNION GOLD CORPORATION
Rick Howes, President and CEO, or Doug Flegg, Business Development Advisor
E: doug_flegg@reuniongold.com
E: info@reuniongold.com
Telephone: +1 450.677.2585
Cautionary Disclaimer Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, "forward-looking statements"). Statements and information that are not historical facts are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions, or results "will", "may", "could" or "should" occur or be achieved. Forward-looking statements and the assumptions made in respect thereof involve known and unknown risks, uncertainties and other factors beyond the Company's control. Forward-looking statements in this press release include statements regarding plans to complete drilling and other exploration programs and studies, exploration and drill results, interpretation of such exploration and drill results, potential mineralization, expectations regarding completion of a preliminary economic assessment, forward looking assumptions used relating to the mineral resources estimates, expectations to expand the resources at depth and elsewhere within the Oko West Project, as well as statements regarding beliefs, plans, expectations or intentions of the Company. Mineral exploration is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. Refer to the Company's most recent annual information form dated May 9, 2023 for a description of such risks.
Forward-looking statements in this press release are made as of the date herein. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this press release are reasonable, undue reliance should not be placed on such 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.
Figure 1 - Inclined long section across Block 4, showing selected results and drill hole locations reported in this press release. ETT = Estimated True Thickness; Significant intersects are calculated using a 0.3 g/t Au cutoff, 10 m minimum down hole length and 10 m maximum consecutive internal dilution; Included intersects are calculated using a 1.5 g/t Au cutoff, 3 m minimum down hole length and 2 m maximum consecutive internal dilution.
Figure 2 - Inclined long section across Block 4, showing selected results and drill hole locations reported in this press release. Significant intersects are calculated using a 0.3 g/t Au cutoff, 10 m minimum length and 10 m maximum consecutive internal dilution; Included intersects are calculated using a 1.5 g/t Au cutoff, 3 m minimum length and 2 m maximum consecutive internal dilution.
Figure 3 - MaxCAT RC drilling of geochem anomalies located on the High Road target area, shown in relation to the Oko West resource.
