Rupert Resources Reports Results for the Three and Six Months Ending August 31, 2024
All of the above have been posted on the Company’s website www.rupertresources.com with the financial statements and MD&A also published on SEDAR+ at www.sedarplus.ca
Financial Highlights
During the six months ending
All references to currency in this press release are in Canadian dollars.
Discussion of Operations
During the three and six months ended
Rupert Lapland Project Area
Regional Exploration Program, including Ikkari
The regional exploration program at the Rupert Lapland Project Area is designed to identify and evaluate the mineral potential contained in Rupert’s land package in the CLGB.
Since
The Updated Ikkari MRE has served as the basis for the Pre-feasibility Study (“IkkariPFS”) that was initiated during the twelve months ended
Ikkari Project Drilling
The 2023/24 drill program was completed during the second calendar quarter of 2024, comprising some 43,000 metres (“m”) of drilling, with 24,000m allocated to drilling within the Ikkari project footprint.
During the 2024/25 drill season the focus of Ikkari project drilling will be on ensuring a thorough understanding of the short-spaced grade variability, the hydrogeological environment and geotechnical domains to facilitate the full optimisation of the project at the definitive feasibility study stage which is expected to follow on from successful completion of the Ikkari PFS.
Continuing Exploration
Following on from the success of the exploration campaign during the winter 2023/24, the discovery of significant widths and tenors of mineralisation at Heinä South, and the structural reinterpretation of the wider Area 1, the 2024/25 exploration program is now underway with drilling planned at six target areas along the 15km regional trend east of Ikkari as well as two base metals target areas located at the east of Rupert’s 100% property. The aim of the upcoming season is to systematically explore extensions to the prospective structures identified in an updated structural interpretation.
Engineering and PFS update
In August final metallurgical variability and bulk testwork results were released providing evidence of favourable recoveries using the proposed gravity and whole ore leach flow sheet that will be applied in the upcoming PFS. Other critical path work has been substantially finished and review and optimisation work will be undertaken in calendar Q4 2024.
Advancing Permitting and Environmental Work
Permitting, specifically progression of the Environmental Impact Assessment (“EIA”) Programme and Land Use Planning is also a key focus of the Company. The EIA Programme was initially presented to the respective authorities on
As part of this process the Company continues with numerous baseline environmental assessments, as well as on-going engagement across all stakeholder groups. The Ikkari PFS is drawing from these processes as appropriate.
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Cautionary Note Regarding Forward Looking Statements
This press release contains statements which, other than statements of historical fact constitute “forward-looking statements” within the meaning of applicable securities laws, including statements with respect to: results of exploration and development activities and mineral resources. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “Estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and Estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20241011503549/en/
For further information, please contact:
Chief Executive Officer
jwithall@rupertresources.com
Head of Corporate Development
tcredland@rupertresources.com
Tel: +1 416-304-9004
Web:http://rupertresources.com/
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