REUNION GOLD ANNOUNCES THAT IT HAS RETAINED G MINING SERVICES TO PROVIDE A MINERAL RESOURCE ESTIMATE BY MID-YEAR AND PROJECT DEVELOPMENT SERVICES FOR THE OKO WEST PROJECT IN GUYANA
Longueuil, Quebec, February 23, 2023 – Reunion Gold Corporation (TSXV: RGD; OTCQB: RGDFF) (“Reunion Gold” or the “Company”) is pleased to announce that G Mining Services Inc. (“G Mining”) has been chosen to provide full engineering and project development services for its Oko West Project in Guyana. The Company is already working with G Mining towards the release of a maiden mineral resource estimate (“MRE”) on the Kairuni zone, by around mid-year 2023. The services to be provided by G Mining would follow up on the MRE and include a planned Preliminary Economic Assessment (“PEA”) on the Oko West Project. G Mining will be available to be drawn upon by the Company if warranted, for pre-feasibility and feasibility studies, as well as basic and detailed engineering and procurement, construction and commissioning services.
In 2023, Reunion Gold plans to complete phase 1 step out and infill drilling of the Kairuni zone to outline the full extent of the open pit mineralized envelope of this zone. The following tasks will be to complete the MRE by mid-year and the PEA study around year-end 2023. In parallel with this, the Company will continue to explore three additional priority exploration targets on the Oko West Project, including the Takatu zone, which represents the southern 4 km of the same sheared contact that contains the Kairuni zone. The Company’s objective is to outline additional potential areas of gold mineralization at Oko West in the near term, such that any additional potential resource ounces could be added into future studies.
Rick Howes, CEO of Reunion Gold, says “There is no engineering firm that has the mine building experience in the Guiana Shield and in tropical environments that G Mining Services has. Louis Gignac and G Mining have a successful track record of designing, building and/or operating such mines as the Omai Gold Mine and Omai Bauxite in Guyana, Gross Rosebel and Merian in Suriname, Fruta del Norte in Ecuador, and currently Tocantinzinho in Brazil. These projects were consistently delivered on schedule and on or under budget and successfully ramped up to full production. They have over 15 years of experience in Guyana (1990-2005) and their team is well regarded in the country and globally. I am thrilled to be working with Louis Gignac Sr. and his whole team on this very significant discovery at Oko West in Guyana. We have worked together with G Mining for many years and have great confidence in their ability to help us successfully bring this project from discovery to production. In addition to announcing an MRE on the Kairuni zone and rapidly advancing the PEA, the Company will also prioritize exploration on three additional highly prospective targets at Oko West where we hope to outline additional gold mineralization that could potentially be added to the scope of the Oko West Project.”
Cautionary Disclaimer Regarding Forward-Looking Statements
This press release contains forward-looking information and statements within the meaning of Canadian securities laws (collectively, “forward-looking statements”). All statements, other than statements of historical fact, contained in this press release including, but not limited to, statements about the Company’s plans and objectives to outline additional gold mineralization, complete drilling programs, mineral resource estimate, preliminary economic assessment, pre-feasibility study, feasibility study, engineering and procurement work and mine construction, are forward-looking statements.
Mineral exploration and project development are highly speculative, characterized by several significant known and unknown risks, uncertainties and other factors which even a combination of careful evaluation, experience and knowledge may not eliminate. 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. Refer to the Company’s most recent annual management’s discussion and analysis for a description of certain of those risks.
The forward-looking statements contained herein are presented for the purposes of assisting investors in understanding the Company’s plans and objectives and may not be appropriate for other purposes. There can be no assurance that such statements will prove to be accurate and may differ materially from those anticipated. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. 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. In addition to Kairuni, there are several additional priority exploration targets in the Oko West project area. 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’.
For further information, please contact:
REUNION GOLD CORPORATION
Rick Howes, President, CEO and Director
Doug Flegg, Business Development Advisor
Telephone: +1 450.677.2585