Reunion Gold Corporation (TSX-V: RGD) (the "Company") is pleased to
report significant new gold intersections from its ongoing phase 3
drill program at its Oko West project in Guyana. Hole D21-053,
which represents the deepest mineralized intersection to date,
returned gold mineralization of 2.69 g/t over 59.0 m to a vertical
depth of approximately 222 m below surface in unweathered rock.
Hole D21-054, the third deepest hole drilled to date, also extended
the deposit to depth in unweathered rock, returning 2.98 g/t over
64.50 m to a vertical depth of approximately 194 m (Figures 1
to 5 display drill hole location and sections).
- These recent drill holes
demonstrate that gold mineralization continues strongly at depth
into unweathered rocks.
- Lateral continuity of
mineralization in the northern 2.5 km of the deposit continues to
be confirmed.
- The Oko West deposit
remains open along strike and to depth.
- The southern 3.5 km of the
6 km long geochemical gold anomaly remains open and largely
untested.
The highlight composite intersections from this
set of results can be seen in Table 1 and includes five of the
12 highest grade times meter composite intercepts reported to date
from the project. The complete set of results from this release
will be posted on the Company website.
Table 1. Composite drill intersection
highlights
Dill hole ID |
Exploration "block" |
From (m) |
To (m) |
Gold grade (g/t) |
Length (m) |
Diamond drill holes |
OKWD21-051 |
4 |
22.50 |
40.00 |
10.54 |
17.50 |
Including |
|
23.50 |
26.00 |
69.61 |
2.50 |
|
|
88.50 |
112.50 |
2.26 |
24.00 |
OKWD21-053 |
4 |
145.40 |
179.60 |
3.06 |
34.20 |
|
|
193.00 |
252.00 |
2.69 |
59.00 |
OKWD21-054 |
4 |
89.50 |
105.00 |
2.57 |
15.50 |
|
|
139.50 |
204.00 |
2.98 |
64.50 |
Including |
|
155.00 |
182.00 |
4.65 |
27.00 |
OKWD21-056 |
4 |
7.50 |
30.00 |
2.34 |
22.50 |
|
|
42.00 |
69.00 |
3.14 |
27.00 |
|
|
79.00 |
116.20 |
3.72 |
37.20 |
Reverse circulation drill holes |
OKWR21-099 |
4 |
35.00 |
88.00 |
6.87 |
53.00 |
OKWR21-100 |
4 |
0.00 |
53.00 |
2.05 |
53.00 |
OKWR21-101 |
4 |
37.00 |
59.00 |
3.33 |
22.00 |
|
|
73.00 |
90.00 |
5.13 |
17.00 |
|
|
101.00 |
120.00 |
1.33 |
19.00 |
OKWR21-104 |
1 |
13.00 |
24.00 |
3.05 |
11.00 |
The reported results are part of the ongoing
9,000-meter phase 3 drill program at Oko West, followed by a
planned 15,000-meter phase 4 program. The ongoing program aims at
continuing to expand the resource laterally and along strike
between existing fences of drilling and, importantly, to continue
to expand the deposit to depth into the unweathered rocks. The long
section in Figure 6 illustrates the areas of the deposit that
remain open to expansion that will be tested in phase 4.
Carlos Bertoni, the Company's Interim CEO,
stated: "We are pleased by the lengths and grades of the
mineralized intersections being reported. The deposit shows good
continuity and is expanding at depth in the northern 2.5 km stretch
of the soil gold anomaly, where most of the drilling has occurred
to date. The phase 4, 15,000-meter drill program, is expected to be
completed by the second quarter of 2022, with the goal of outlining
a significant maiden resource at Oko West contained within an open
pit."
The next steps to advance the Oko West
deposit over the next six months are as follows:
- Continue drill testing aimed at
expanding the deposit laterally, along strike and to depth along
the northern 2,500 meters of mineralization as illustrated in the
long section in figure 5.
- Use the RC rig to drill "scout"
holes to test the southern 3.5 km of the geochemical anomaly and to
look for potential parallel deposits to the west of the known
deposit.
- Follow up the initial positive
metallurgical results (showing recoveries of 78% to 98% as outlined
in the December 7, 2021, press release) with a complete
metallurgical test plan.
- Launch an environmental baseline
study to IFC standards.
Appointment of Doug Flegg as Business Development
Advisor
The Company is also pleased to announce the
appointment of Doug Flegg, B.Sc., MBA, CFA, as its Business
Development Advisor. Doug will be working closely with the
Company's senior leadership to assist in its business development
activities, including marketing, financing, and corporate
development. Doug has over 35 years of mining and mining finance
experience, including a technical background in geology fortified
by equity research, portfolio management, and global mining sales.
Doug was Managing Director Global mining sales at BMO Capital
Markets for ten years and lately has been advising mining companies
in strategic and business development matters. Doug has a B.Sc.
(Honours Geology) and an MBA from Queen's University, and is a CFA
charter holder.
Carlos Bertoni, Reunion's Interim CEO, stated:
"We are pleased to welcome Doug to the Reunion Gold team. Doug is
an experienced professional, and his financial and technical
expertise will greatly help us move the Company forward."
Drill result composites, sample collection, assaying and
data management
The Company calculates drill results composites
with a minimum length of 2 m, a cut-off grade of 0.3 g/t, and up to
7 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. Assay data is subject to
QA/QC using acQuire software and management by an independent
consultant.
Qualified Person
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 Statement
This press release contains certain
forward-looking information or forward-looking statements as
defined in applicable securities laws. Forward-looking statements
are not historical facts and 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. Resource exploration and development is highly
speculative, characterized by several significant risks, which even
a combination of careful evaluation, experience and knowledge may
not eliminate. All forward-looking statements herein are qualified
by this cautionary statement. Accordingly, readers should not place
undue reliance on forward-looking 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
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. The Company has an
option to acquire a 100% ownership interest in the Oko West Project
in Guyana. 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
736.9 million issued and outstanding common shares.
For further information, please contact:
REUNION GOLD CORPORATION Carlos H. Bertoni,
Interim CEO, orDoug Flegg, Business Development AdvisorTelephone:
+1 450.677.2585Email: info@reuniongold.com
Figure 1: Plan map showing schematic geology,
surface projection of grade block model, exploration "blocks,"
drill holes reported with composite assays (green dots) and
cross-section locations (green bars). DD are diamond drill holes,
and RC are reverse circulation holes.
Figure 2: Cross-section B4C looking north
showing schematic geology, drill hole projections and mineralized
interval composites. Hole RC-101 was drilled at azimuth south,
mostly off section. Drill intersections reported in this press
release are shown in green colour.
Figure 3: Cross-section B4D looking north
showing schematic geology, drill hole projections and mineralized
interval composites. Hole RC-100 was drilled at azimuth north,
mostly off section.
Figure 4: Cross-section B4E looking north
showing schematic geology, drill hole projections and mineralized
interval composites.
Figure 5: Cross-section B4F1 looking north
showing schematic geology, drill hole projections and mineralized
interval composites.
Figure 6: Longitudinal section looking west
between exploration blocks 6 and 1 showing gold grade block model
(8 m blocks) and areas targeted for expansion drilling to a depth
of approximately 250 m from the surface (blue polygon).
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