REUNION GOLD ANNOUNCES NEW DRILL RESULTS FROM OKO WEST BLOCKS 1 & 4, INCLUDING CONTINUED EXTENSION OF MINERALIZATION AT DEPTH AND TO THE NORTH
Drill results continue to expand the known mineralization footprint at depth, expanding on previous resource definition drilling coverage and expanding higher grade zones north of exploration block 4 and below block 1
Of particular note:
o Hole D22-159: 1.58 g/t Au over 77.20 m, demonstrating the continuation of mineralization between the prior resource definition drilling coverage (press release Sept 7, 2022) and the deep hole D22-112
o Hole D22-167: 2.23 g/t Au over 52.4 m, delivering high-grade mineralization in the north of Block 4
o Hole D22-164: 4.58 g/t Au over 22.45 m, 3.19 g/t Au over 4.00 m and 6.70 g/t Au over 4.20 m, further extending the mineralized envelope below the northern extent of block 4 and into block 1
Longueuil, Quebec, November 9, 2022 – Reunion Gold Corporation (TSXV: RGD; OTCQB: RGDFF) (the "Company") is pleased to announce additional high-grade intercepts from its Oko West project, including two holes that significantly expand the high-grade mineralized envelope below known mineralized zones. In the past few months, the Company has focused on infill drilling to a spacing required for resource estimation, expansion of the known mineralized footprint both at depth and along strike, and continued exploration work to the south of the Kairuni zone on blocks 5 and 6.
Holes D22-159, 167 and 164, which were part of the expansion program, successfully demonstrated continued high-grade gold mineralization both beneath existing drilling in block 4 and to the north at depth below block 1 (see the long section in figure 1, cross sections in figures 2 and 3, and plan map in figure 4).
Hole D22-159, located in the middle of block 4, demonstrates the continuation of high-grade mineralization 100 meters (m) below previously released resource definition drill coverage and above the deep hole, D22-112, with an intercept of 1.58 grams per tonne of gold ("g/t Au") over 77.2 m, including numerous high-grade intervals such as 3.08 g/t Au over 12.70 m and 3.20 g/t Au over 9.50 m (see table 1 and the Company's website for detailed reporting of results and figures 1, 2 and 3 for hole locations).
Holes D22-167 and 164 were drilled below the northern portion of block 4 and the start of block 1, respectively. These holes expand the footprint of high-grade mineralization into previously undefined zones at depth. Hole D22-167 reported an intercept of 2.23 g/t Au over 52.4 m, including high-grade intervals such as 4.20 g/t Au over 8.40 m. Hole D22-164 intercepted 4.58 g/t Au over 22.45 m, in addition to two notable intervals of 3.19 g/t Au over 4.00 m and 6.70 g/t Au over 4.20 m.
Additional highlighted holes reported below are part of the resource definition drilling program that has been undertaken in preparation for a maiden resource estimate. The results continue to illustrate the strong continuity of both grades and widths within the high-grade mineralized envelope.
D22-144 3.54 g/t Au over 51.00 m
D22-147 1.75 g/t Au over 86.30 m
D22-150 1.45 g/t Au over 109.50 m
D22-152 2.43 g/t Au over 70.80 m
D22-155 1.75 g/t Au over 119.95 m
D22-161 1.95 g/t Au over 129.70 m
D22-162 3.07 g/t Au over 51.00 m
Justin van der Toorn, the Company's VP Exploration, stated "As we shift from the infill program that will lead to a high confidence resource estimate down the road, we are seeing our deeper drill holes continuing to intersect significant high-grade mineralization. This, in turn, is guiding our focus of further resource definition drilling coverage that allows us to grow the size of the mineralized zones with systematic step-outs."
Exploration program update
Two more diamond drill rigs, supplied by Major Drilling, have been added to the resource definition drilling program. Reverse circulation (RC) drilling continues south of the Kairuni-Takutu shear zone in wide-spaced fences designed to test previously defined gold in soil anomalies. A smaller scout RC rig has also arrived on site and will commence a deep geochemical sampling program that will allow for sampling beneath duricrust-covered zones in the center and west of the Oko West project area where prior soil sampling has proved inconclusive.
Additional work underway
Environment baseline studies: Environmental Resource Management completed the planned environmental baseline work comprising the dry-season survey of fauna and sampling surface and ground waters in October. Surface waters from local streams were also sampled for environmental DNA (eDNA) analysis to map aquatic fauna biodiversity using technology developed by NatureMetrics, a technique never previously used in the region. The wet and dry season results are being reviewed, and further work is being planned based on the results. The study of additional environmental baseline disciplines is planned for 2023.
Geotechnical work: The Company has engaged Newfields to perform an initial geotechnical assessment based on drill core and available drill data with the objective of defining possible slope angles for future expected pit designs.
Metallurgical studies: A variability test work program is underway with approximately four hundred samples submitted for bottle roll testing at Actlabs, Guyana. Samples are derived geographically across the strike length and depth of the mineralized system, and aim to demonstrate recovery variability across lithological units, weathering and grade profiles. Results are expected by year-end.
Power: The Company contracted Instream Energy Systems, a Canadian group specialized in electrical "run of river" power generation with hydrokinetic technology, to conduct a pre-feasibility study to investigate its use for the project. This technology uses modular in-stream equipment deployed in rivers without water reservoirs.
Community health: The Company is happy to report that the number of malaria cases diagnosed and treated in the project area has significantly decreased. The Oko region has suffered from endemic malaria for decades, and the Company's malaria eradication program, in partnership with the Guyana Ministry of Health, is effectively controlling the disease by diagnosing and treating hundreds of cases over the last year. The Company’s medical staff at the project site provides free malaria testing and medication and general medical attention to anyone in the area.
Sample collection, assaying and data management
Significant intervals in this press release have been calculated using a grade cutoff of 0.3 g/t Au, a minimum length of 10 meters, and up to 10 meters maximum length of internal waste. Included significant intervals have been calculated using a grade cutoff of 1.0 g/t Au, a minimum length of three meters, and up to three 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 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 samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting best-practice chain of custody procedures. At the 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. Gold analysis is carried out through a 50 g fire assay with an atomic absorption finish. Initial assays with results above 3 g/t Au 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 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 using acQuire software and management by an independent consultant.
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, EurGeol) 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 include statements regarding plans to complete drilling and other exploration programs and studies, potential mineralization, exploration and drill results, plans to complete a maiden mineral resource, 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. 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 2,000 meters of strike and to a depth of 575 meters. The mineralization appears to be open-pit amenable with a strong grade profile and favourable initial metallurgy. In addition to Kairuni there are several additional priority exploration targets on the Oko West project area. Reunion Gold continues to look for additional exploration opportunities within the Guiana Shield. 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'. The Company currently has 990.5 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