Reunion Gold launches an 11,000-meter drill program at its Oko West Gold Project, Guyana
May 28 2021 - 8:00AM
Reunion Gold Corporation (TSX-V: RGD) (the "Company"), following
the successful completion of a $10.4 million financing, is pleased
to provide details about its planned exploration program at its Oko
West Project in Guyana. The program will include a combination of
approximately 130 diamond and reverse circulation holes totalling
up to 11,000 meters.
Carlos Bertoni, Reunion Gold's Acting CEO,
stated: "We are excited with the exploration results obtained so
far from the trenching and drilling work done at the Oko West
Project (see results in previous press releases) and are launching
a follow-up program aiming to expand the footprint of three
mineralized shear zones discovered in 2020, which has now been
tested by trenching and drilling over five kilometres (Figure 1).
Gold mineralization is found in north-south shear zones straddling
the six-kilometre-long contact of granitic and volcanic rocks
within the project boundaries. This new program aims to define the
geometry, volume and gold grade of saprolitic material over a
strike length of approximately three kilometres and will be
executed in such a way that a mineral resource could be estimated,
if warranted."
Work done so far confirms significant gold
mineralization hosted by three shear structures extending for
hundreds of meters along strike and downwards into weathered
bedrock (saprolite), justifying a comprehensive exploration program
consisting of 100 meter-spaced trench and drill hole "fences" on
eight blocks (Figure 2). These fences aim to test the lateral and
depth continuity of gold mineralization down to unweathered
bedrock. In addition to the 11,000 meters in 130 holes of drilling,
25 trenches are planned to provide a continuous near-surface
sampling of saprolite. We expect that more than 12,000 samples will
be assayed. This program is being launched during the first week of
June and will take close to five months to complete, at an
estimated cost of approximately C$3.4 million.
The Oko West area is in the Cuyuni River basin
of Guyana, a traditionally mining-friendly jurisdiction. The
Company has an option to acquire a 100% ownership interest in
mineral rights covering an area of approximately 11,900 acres.
Qualified Person
The technical information in this press release
has been reviewed and approved by Carlos. H. Bertoni, P.Geo., the
Company's Acting 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 a mineral resource estimate, trenching,
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'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).
For further information, please
contact:REUNION GOLD CORPORATION Carlos H.
Bertoni, acting CEO orPaul Fowler, Manager, Corporate
DevelopmentTelephone: +1 450.677.2585Email:
info@reuniongold.com
Figure 1: Map of Oko West project area schematic
geology, permits outlines and shear zones discovered (red dashed
lines). The map also shows gold anomalies from soil geochemistry
testing the volcanic - granitoid contact in the eastern part of the
project area.
Figure 2: Map showing schematic geology, soil gold anomaly and
layout of exploration blocks.
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