REUNION GOLD REPORTS ADDITIONAL STRONG DRILL RESULTS AND
ACCELERATES ITS EXPLORATION PROGRAM AT OKO WEST, GUYANA
Hole R22-128 reported 4.17 g/t over 61.0 m within a broader mineralized zone, including four composite intercepts totalling 66.0 m
Hole D22-073 reported 2.4 g/t over 50.3 m and 3.04 g/t over 17.5 m within a broader mineralized zone comprised of six composite intercepts totalling 89.35 m
The continuity of gold mineralization in the Kairuni zone continues to be demonstrated.
Longueuil, Quebec, May 4, 2022 – Reunion Gold Corporation (TSXV: RGD) (the "Company") is pleased to announce additional drill results from its ongoing drilling of the Kairuni Zone at its Oko West project in Guyana (see table 1 with the note, and figures 1 to 6). Hole R22-128 reported 4.17 g/t over 61.0 m, including 30.35 g/t over 2.0 m and 9.72 g/t over 12.0 m. Mineralization found in this hole is intercepted by four composite intercepts with a combined length of 66.0 m. Hole D22-073 intersected 2.96 g/t over 17.0 m and 2.4 g/t over 50.3 m within a mineralized zone, containing six composite intercepts totalling 89.35 m of combined length. Mineralization in hole D22-075 is comprised of six intercepts totalling 63.7 m in combined length and including composites of 9.35 g/t over 8.0 m and 3.04 g/t over 17.5 m. Hole D22-066 intersected eight intercepts with a total length of 85.36 m, including intervals of 2.65 g/t over 18.0 m and 3.29 g/t over 28.0 m. Carlos Bertoni, the interim CEO, stated: "The results from this release continue to show the strong continuity of gold mineralization in the Kairuni zone, particularly in the block 4 area where much more deep drilling has occurred. The next phases of drilling will include more detailed drilling in the areas of blocks 1, 5 and 6, following up on our recent mapping programs."
Note: To better represent the length of the entire mineralized zone, which typically is made of several composite intercepts from each hole, we have reported the combined length of the mineralized zone, which is represented by adding together the individual intercept lengths of all the composites present in a particular hole. There are areas of varying length between the composites below the 0.3 g/t cutoff grade used to calculate composites, which can be seen by looking at the full reporting of the composites (including how they are calculated) on the Company website. This is also illustrated in the cross-sections (figures 2 to 5).
2022 drill program to be accelerated and expanded
The Company has added a diamond drill rig from Major Drilling to accelerate the pace of drilling and enhance its ability to drill deeper holes. This brings the total number of drill rigs at Oko West to four, including three diamond drill rigs and one reverse circulation (RC) drill rig. In addition, Reunion Gold's board of directors has approved a 7,000-meter increase in combined diamond drilling and RC drilling for the 2022 drill budget for Oko West resulting in approximately 16,000 meters remaining to be drilled. It is expected that this increased drill program will be completed in August and will be included in the estimate of the project's maiden resource, currently planned for late Q3. Following this, the Company expects to undertake follow-up drill programs to the end of 2022 and has funding to continue drilling past the approved budget.
Geology and exploration – Kairuni zone
Drilling at Oko West only started in July 2021, and Reunion Gold's exploration team continues to build on their knowledge of the deposit as new data is collected. Applying this improved knowledge of the Kairuni zone's geology, hydrothermal alteration, structure, and recent petrographic studies, the exploration team has begun a program of re-logging the core and re-mapping the Kairuni zone. A higher proportion of volcanoclastic rocks are now interpreted to host gold mineralization. This can be seen in figure 1 and the cross-sections in figures 2 to 5. The detailed mapping of blocks 5 and 6 at the southern end of the Kairuni zone (figure 1) outlined a much wider and more continuous sequence of volcanics and sediments. The work also identified the presence of shear zones within this favourable sequence. In addition to drilling block 4 down to approximately 200 – 250 m, the upcoming program will continue to test the depth continuity of blocks 1 and 2 and increase the amount of drilling on blocks 5 and 6 with the help of an improved understanding of the geology.
Geology and exploration - Other targets at Oko West
As part of our program of investigating targets at Oko West outside of the Kairuni zone, the Company has initiated a detailed mapping and sampling program on blocks 7 and 8 in the 3.5 km long Takutu zone located south of the Kairuni zone. The goal is to get an improved knowledge of geology, hydrothermal alteration, structure and gold mineralization in this area prior to trenching and or scout drilling. The Company has also completed a fence of scout RC holes (assays pending) along a road that lies immediately west of the Kairuni zone. The scout drilling is intended to improve our knowledge of geology and structure in this area of Oko West. A second fence of holes is planned on a road that crosses the target area south of the first fence of scout holes.
Advancing the Oko West Project
In addition to the exploration underway, the Company is advancing the project with the following work:
G Mining Services has been engaged to prepare a National Instrument 43-101 technical report on Oko West, expected in early Q3. The report will provide a summary of material scientific and technical information from the exploration done by the Company to date. For this work, the Company surveyed all of its drill collars with differential GPS and contracted a Lidar survey to obtain detailed topographic information about the area.
G Mining Services has also been engaged to help design a program for the next phase of metallurgical studies, which will be performed at the Basemet Lab in British Columbia, Canada. This program will include three dedicated HQ-sized metallurgical holes.
An initial environmental baseline study is also being designed and is expected to begin in May 2022.
Sample collection, assaying and data management
The Company calculated drill results composites with a minimum length of 2 m, a cutoff grade of 0.3 g/t, and up to 3 m maximum length of internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths. Complete drilling results and drill hole data are being posted on the Company's website. Diamond drill 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 drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged, and tagged at the drill site. Samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting the best chain of custody practices. At the laboratory, samples are dried, crushed up to 80% passing 2 mm, riffle split (250 g), and pulverized to 95% passing 105 μm, including cleaner sand. 50 g of pulverized material is fire assayed by atomic absorption (AA). Initial assays with results above 3,000 ppb gold are re-assayed with a gravimetric finish. Certified reference materials and blanks are inserted at 5% of samples shipped to the laboratory. Field duplicates and umpire pulp duplicates are also generated at 5% of samples. Pulp umpire duplicates are analyzed at MSALabs certified laboratory in Georgetown. Assay data is subject to QA/QC using acQuire software and management by an independent consultant.
The technical information in this press release has been reviewed and approved by Carlos H. Bertoni, P.Geo., the Company's Interim CEO. Mr. Bertoni is a qualified person under Canadian National Instrument 43-101.
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 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. 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 management's discussion and analysis 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.
About Reunion Gold Corporation
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. In 2021 the Company made an exciting new gold discovery at its Oko West project in Guyana, where to date it has outlined continuous gold mineralization at the Kairuni zone over 2,500 meters of strike and to a depth of 350 meters. The deposit appears to be open-pit amenable with a strong grade profile and favourable initial metallurgy. 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). The Company currently has 827.8 million issued and outstanding common shares.
For further information, please contact:
REUNION GOLD CORPORATION
Carlos H. Bertoni, Interim CEO, or
Doug Flegg, Business Development Advisor
Telephone: +1 450.677.2585