Rupert Resources Ltd. Announces Increase of Land Holdings
30 Januar 2014 - 11:05PM
Marketwired
Rupert Resources Ltd. Announces Increase of Land Holdings
TORONTO, ONTARIO--(Marketwired - Jan 30, 2014) - Rupert
Resources Ltd. ("Rupert" or "the Company") (TSX-VENTURE:RUP) today
announced that it has increased the land holdings and furthered the
longevity of certain claims in and around the former producing Surf
and Pugsley Mines at its Surf Inlet Property.
The Surf Inlet property is located on Princess Royal Island,
British Columbia, and is comprised of 21 Crown Grants and eight
mineral tenures covering a new total area of 874 hectares. The
property is home to the former producing Surf and Pugsley Mines
which were last operated in 1929 by Surf Inlet Consolidated Gold
Mines Limited. Total reported production from the Surf Inlet
Property is 1,091,131 tons at a reported average grade of 13.5
grams gold per ton (0.425 oz/ton) (Vulimiri 1986). The Surf and
Pugsley Mines combined historical metal production is estimated at:
463,731 gold ounces, 201,207 silver ounces and 6,248,853 pounds
copper. Of the two mines, Surf produced the majority of gold ore,
921,245 tons or approximately 84% (BC Minfile Report 103H027).
Mineralization is hosted in quartz veining associated with fault
structures.
Rupert believes the Surf Inlet property has significant
exploration potential as evidenced by its former producer status
and several exploration programs conducted between 1980 and 2000.
Although no exploration has been undertaken since a limited diamond
drill program in 2000, Rupert has yet to act on the recommendations
and plans for exploration made in an NI 43-101 compliant report
titled "Technical Review, Surf Inlet Gold Project", 2004.
Rupert owns the 21 Crown Grants that encompass the two former
producing areas of the property. The Crown Grants have no expiry
dates, but an annual tax on each claim is payable to the British
Columbia Provincial Government to retain ownership.
Rupert has increased the land holdings to 874 contiguous
hectares from 565 hectares in order to more completely contain the
areas beyond the two former producing mines and to consolidate the
land holdings of the district. These mineral tenured areas, which
include the 21 Crown Grants, are important for future exploration
potential and for access to the mines. In addition, longevity of
the tenure ownership has increased as the ownership period of four
of the mineral tenures have been extended to 2020. The remaining
four tenures can also be extended through exploration activities or
through payment in lieu of such activities. Please see
www.rupertresources.com.
About the Company
Rupert Resources is a Canadian based gold exploration company.
Rupert's objective is to evaluate the developmental potential of
its two assets - the Surf Inlet property in British Columbia and
the Gold Centre property in Ontario - in parallel with the
objective of finding other investment opportunities in near term
producing assets through active searches for development projects.
Rupert holds a 100% interest in the Gold Centre property, which has
the distinction of being one of the best-positioned exploration
land packages within the entire Red Lake gold mining camp. The Gold
Centre property is immediately adjacent to and on trend with the
world's richest gold mine, Goldcorp, now working within 600m of
Rupert's boundary.
In 2004, Rupert commenced an 11,900m drill program on the Gold
Centre property consisting of two main holes and several daughter
holes. Although, at the 2008 conclusion of this program no
significant gold was found in that small area in the South West
portion of the property, strong geological features were
encountered. On the heels of a recent $510,000 private placement,
the new Summer 2013 exploration program has been completed. A
geophysical program delineated three strong I.P. anomalies, with
two located in the northwestern portion, and one in the eastern
portion of the property. They have been recommended as diamond
drill targets. See press release, November 14, 2013.
Michael Sutton, P.Geo., a Director of Rupert Resources Ltd., and
a Qualified Person ("QP"), has reviewed and approved the technical
content of this news release.
ON BEHALF OF THE BOARD
M. Kostuik, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release
Cautionary Note Regarding Forward-Looking
Statements
This Press Release contains statements which constitute
"forward-looking statements", including statements regarding the
plans, intentions, beliefs and current expectations of the Company
with respect to the future business activities and operating
performance of the Company. 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 and Annual
Information Form for the year ended October 30, 2013 available at
www.sedar.com. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. The Company does not
intend, and does not assume any obligation, to update these
forward-looking statements except as otherwise required by
applicable law.
Rupert Resources Ltd.Martin
Kostuik416-361-1855416-848-0790info@rupertresources.comwww.rupertresources.com
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