REUNION GOLD REPORTS A SIGNIFICANT DEPTH EXTENSION OF GOLD MINERALIZATION AT
OKO WEST, INTERSECTING 3.68 g/t Au OVER 71.15 m DOWN to 575 m
• Hole D22-112 intersected 3.68 g/t Au over 71.15 m at a vertical depth of 575 m.
• Hole D22-93 intersected 2.78 g/t Au over 110.0 m.
• High-grade holes from block 5 of 16.74 g/t Au over 9.75 m, and block 1 of 61.44 g/t Au over 3.1 m
Longueuil, Quebec, June 13, 2022 – Reunion Gold Corporation (TSXV: RGD; OTCQB: RGDFF) (the "Company") is pleased to announce additional drill results from its ongoing drill program at the Oko West project in Guyana. The results include a significant extension of the gold mineralization to depth in hole D22-112 and the reporting of two of the best holes to date in the project's grade and interval profile (D22-112, D22-93). Highlights from this release of holes can be found in table 1 below and are also shown on the maps in figures 1 to 7.
Hole D22-112 (the "Chairman's" hole) successfully tested the depth extension of the Kairuni zone in block 4 with a significant intersection of 3.68 grams per ton of gold (“g/t Au”) over 71.15 meters to a vertical depth of 575 meters. This represents a 226 meters step out from the previous deepest hole, D22-63, which reported 1.5 g/t Au over 67.3 meters to a vertical depth of 349 meters. The mineralized zone within hole D22-112 comprises the interbedded clastic sediments and volcanoclastic rock units typically associated with gold mineralization in the Kairuni zone. Other significant composites in the mineralized zone at D22-112 include 4.06 g/t Au over 37.15 meters, 3.80 g/t Au over 21.75 meters and 1.32 g/t Au over 15.70 meters. The total length of composites within the mineralized zone, ignoring unmineralized intervals, is approximately 134 meters. This hole also represents one of the best holes reported to date in terms of grade, length and vertical depth.
Hole D22-93 in block 4 intersected 2.78 g/t Au over 110.0 meters, including 26.18 g/t Au over 4.0 meters. This hole also represents one of the top holes reported to date at Oko West, demonstrating both a long intercept and strong grades. Also noteworthy are the results from two high-grade holes outside of block 4, which reported high-grade intercepts. These include D22-97 from block 5, which returned 16.74 g/t Au over 9.75 meters and hole D22-105 from block 1, which intersected 61.44 g/t Au over 3.1 meters. The mineralized zones in D22-97 and D22-105 are unusual because they are located in the footwall granite and may represent a previously unknown mineralized zone. The next phase of drilling will emphasize testing the Kairuni zone outside of block 4.
Table 1: Highlight composite intercepts summary table (see note below)
Note: A complete list with details of the reported composites (including the calculation method) is posted on the Company website.
Reunion Gold adds another diamond drill rig to accelerate its drill program
As a result of continued success with its ongoing drill program at Oko West, the Company has added another diamond drill rig from Major Drilling, taking the total rig count to 5, including four diamond drill rigs and one reverse circulation drill rig. The additional rig is intended to accelerate the drilling pace and further enhance the Company's ability to drill deeper holes. In addition, the Company is adding to its fleet of heavy equipment to accommodate the added drill and reverse circulation drill, which is starting up operation again after a brief break and will be used primarily for scout drilling.
Advancing the project
In addition to its exploration program, the Company has several other programs in place to advance the project, including a LIDAR survey, further metallurgical testing and environmental baseline studies. A LiDAR survey was recently completed covering the project area. The Company has also confirmed the distribution of metallurgical sampling in conjunction with its consultant GMining Services. The Company engaged Environmental Resources Management to begin environmental baseline work for the project.
The Company continues to work towards its goal of completing an additional ~13,000 m of drilling by August 2022 in preparation for its maiden resource estimate (MRE). The MRE is intended to be a progress report on the nature and size of the resource to date within a conceptual pit outline. The MRE will also help design the next phase of drilling at the Kairuni zone, including the depth of future holes. Strategically, the Company intends to continue drilling the Kairuni zone beyond the release of the MRE.
In addition to drilling at the Kairuni zone, exploration work is underway on the Takutu zone, which represents the southern 3.5 km extension of the same shear zone hosting the Kairuni zone. The Takutu zone also hosts gold in soil anomalies and is adjacent to areas of alluvial gold mining downstream from the zone. The mapping of the Takutu zone confirms the continuity of the sheared contact between the granitoid rock unit to the east and the sequence of sediments hosting gold mineralization. Mineralized shears along this contact have also been identified and are being sampled. Once detailed mapping and sampling at the Takutu zone are complete, the Company intends to proceed with a trenching and or scout RC drill program.
Sample collection, assaying and data management
The Company calculated drill results composites with a minimum length of 2 meters, a cutoff grade of 0.3 g/t, and up to 7 meters 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 (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. 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. Initial assays with results above 3,000 ppb gold are re-assayed with a gravimetric finish. Samples with visible gold are assayed with a metallic screen method using 1 kg of pulp. Certified reference materials and blanks are inserted at 5% of samples shipped to the laboratories. RC field duplicates and DD umpire pulp duplicates are also generated at 5% of samples. Pulp umpire duplicates are analyzed at the 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 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 includes statements regarding plans to complete drilling and other exploration programs, potential mineralization, exploration and drill 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 575 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' and trade on the OTCQB under the symbol ‘RGDFF’.
Additional information about the Company is available on SEDAR (www.sedar.com) and the Company's website (www.reuniongold.com). The Company currently has 828.9 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