REUNION GOLD ANNOUNCES ADDITIONAL DRILL RESULTS HIGHLIGHTED BY HOLE D-380 IN BLOCK 6 AT OKO WEST, INTERSECTING 39.7 M GRADING 5.27 G/T AU INCLUDING 2.8 M @ 14.18 G/T AU AND 13.0 M GRADING 10.50 G/T AU
Longueuil, Quebec, March 28, 2024 – Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company”) is pleased to announce additional drill results from its ongoing infill and step out drill program at the Kairuni zone on its Oko West project in Guyana. Hole D-380, which is located in Block 6 (see Table 1 and Figure 1) intersected 39.7 meters (“m”) @ 5.27 grams per tonne of gold (“g/t Au”) from 152.3 m downhole (using a 0.3 g/t Au cutoff), including 3.8 m @ 14.18 g/t Au and 13.0 m @ 10.50 g/t Au (using 1.5 g/t Au cutoffs). The results from Hole D-380 are encouraging as they indicate the potential for additional high-grade mineralized shoots to be defined in areas of existing wider drill spacing where the current infill continues. Downdip from D-380 and also within Block 6, drill hole D-392 intersected 70.3 m @ 1.08 g/t Au from 193.0m downhole, including 12.0 m @ 3.42 g/t Au.
On the northern margin of Block 4, Hole D-377, which is located on the northern margin of the Block 4 high grade zone (see Table 2 and Figure 1), intersected 55.0 m @ 2.42 g/t Au from 645 m downhole (using a 0.3 g/t Au cutoff), including 5.5 m @ 5.97 g/t Au and 20.4 m @ 3.42 g/t Au (using a 1.5 g/t Au cutoff).
Rick Howes, President & CEO of Reunion Gold, commented, “It is encouraging to see these strong exploration results from the Block 6 area as the Company continues to advance along its dual track strategy of continuing its exploration programs while at the same time rapidly advancing Oko West down the development path. The PEA remains on track for release by the end of Q2 2024. On the exploration front, the addition of new datasets is allowing our exploration team to target more effectively within other areas of the Oko West project area. Alongside this, Reunion is continuing to evaluate and define new properties for further exploration in both Guyana and Suriname.”
Table 1 - Drill results from Blocks 5 & 6.
Table 2 - Drill results from Block 4 infill drilling.
The Company now has eight diamond drill rigs operating at the Oko West project. Five of these rigs are focused on Blocks 1, 4, 5 & 6 with the dual objective of both adding new resources and the conversion of inferred resources to indicated prior to the commencement of additional studies expected after the completion of the Preliminary Economic Assessment in Q2 2024. Two diamond rigs are carrying out geotechnical and hydrogeological drilling related to potential infrastructure sites on the project.
The eighth diamond rig is focused on drill testing exploration targets outside of the MRE area in search of potential satellite resources. At present this rig is testing targets near to the North Drive area located in the west of the permit; and will shortly move to testing a zone of coincident geochemical and geophysical anomalies in the Takutu zone, immediately south and along strike from the Kairuni resource along the granitoid contact zone. The Company has made significant progress in adding additional geochemical and geophysical data coverage on the project, in particular, through the use of a Scout RC rig to test beneath colluvium and duricrust, as well as the use of gradient array IP and ground magnetics. Figure 2 shows the extent of IP coverage on the project and demonstrates the success with which the results map structural corridors that host alteration and early sulphidation events within Blocks 1 through 4 (as correlated with drill core observations). These corridors have been subsequently used as pathways for gold-bearing fluids and are host rocks to mineralization. The discrete structural corridors that are of particular interest for further exploration and drill plans are underway for two new targets in Blocks 7 and 8.
Qualified Persons
Justin van der Toorn, CGeol FGS, EurGeol, the Company’s Vice President Exploration and a “qualified person” under NI 43-101, has also reviewed and approved the scientific and technical information contained in this news release.
About Reunion Gold Corporation
Reunion Gold Corporation is a leading gold explorer in the Guiana Shield, South America. In 2020, the Company announced an exciting new greenfield gold discovery at its Oko West project in Guyana and announced its maiden mineral resource in June 2023 after just 22 months of resource definition drilling. In February 2024 the Company announced an updated Mineral Resource Estimate containing a total of 4.3 Moz of gold in Indicated Resources grading 2.05 g/t and 1.6 Moz of gold in Inferred Resources grading 2.59 g/t. The February 2024 Mineral Resource Estimate includes an underground Resource containing 1.1 Moz of gold at a grade of 3.12 g/t Au in the Inferred category. See February 26, 2024 press release for more details. The Company is moving forward on development activities related to Oko West and expects to deliver a PEA by the end of Q2 2024. The Company continues to explore several additional priority targets at Oko West that lie outside of the area of the MRE, as well as leverage its considerable experience in uncovering new discoveries in the Guiana Shield to acquire and explore additional new projects in the region. 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.sedar.com) 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”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions, or results “will”, “would”, “may”", “could” or “should” occur or be achieved. Forward-looking statements are subject to known and unknown risks, uncertainties and assumptions, many of which are beyond the Company's ability to control or predict, that may cause our actual results, performance or achievements, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements in this press release include forward looking assumptions used relating to the mineral resources estimates; expectations to expand the resources at depth and elsewhere within the Oko West Project, expected metallurgical recoveries, gold price outlook; potential mineralization, expectations regarding completion of a preliminary economic assessment and other studies, and statements regarding the Company’s strategy, plans and goals, and priorities, including timelines and schedules. Risks and factors that could cause actual results or future events to differ materially from current expectations include, without limitation: risks related to the estimation of the mineral resource and the resource model, including risks that mineral content identified in the mineral resource estimate differs from that predicted and that the assumptions taken may no longer be appropriate; recoveries of gold; metallurgical testing and recoveries; gold and other commodity price volatility; currency fluctuations; additional financing required to continue operations may not be available when needed or on acceptable terms and conditions acceptable; geopolitical risks; economic climate; global outbreaks of infectious diseases; risks regarding potential litigation; regulatory risks and liabilities including, regulatory environment and restrictions; timing and cost of exploration programs and studies, results of exploration programs; dilution; share price volatility and the price of our common shares; competition; loss of key employees; as well as those risk factors outlined in the Company’s public disclosure documents including its most recent Annual Information Form available at sedarplus.ca and on the Company’s website, which are incorporated herein.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Cautionary Note on Mineral Resources
This press release contains the terms “Inferred” and “Indicated” mineral resources. Investors are cautioned not to assume that any part or all of the Inferred and Indicated Mineral Resources reported in this press release are or will be economically or legally mineable. Investors are also cautioned not to assume that all or any part of mineral deposits in the Inferred and Indicated Resource categories will ever be converted into a higher category of Mineral Resources or into Mineral Reserves. Under Canadian rules, estimates of inferred Mineral Resources may not form the basis of feasibility studies. The Mineral Resources set out in this news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the Indicated level of recovery will be realized.
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.
