Reunion Gold Infill Drilling Continues to Expand the Zone of High-Grade Gold Mineralization on Block 6 at its Oko West Project, Guyana
15 April 2024 - 2:00PM
Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company”)
is pleased to announce additional drill results from its infill
drill program on Block 6 at its 100%-owned Oko West Project in
Guyana. These results, reported in Table 1 and illustrated in
Figure 1, continue to expand the core of high-grade mineralization
that has been identified at Block 6 and are consistent with the
results of the previously released hole D-380, which intersected
39.7 meters (“m”) at 5.27 grams per tonne of gold (“g/t Au”)
including 3.8 m @ 14.18 g/t Au and 13.0 m @ 10.50 g/t Au. Rick
Howes, CEO of Reunion Gold, stated, “We are pleased to see the
identification of further high-grade mineralized shoots at Oko
West, resulting from the exploration team’s growing understanding
of structural controls and the factors that are localizing
mineralization along the Kartuni shear zone. These latest results
continue to indicate the potential for additional high-grade gold
mineralization to be defined even within areas of existing wider
drill spacing as our current infill program continues.”
Highlights of drill results reported today
include Hole D-375, which intersecting 60.4 m grading 1.50 g/t Au
(using a 0.3 g/t cutoff), including 6.0 m grading 7.06 g/t (using a
1.5 g/t cutoff) starting at 31.5 m downhole, Hole D-381
intersecting 44.9 m grading 2.28 g/t Au (using a 0.3 g/t cutoff)
starting at 85.2 m downhole, including 18.3 m grading 4.38 g/t Au
(using a 1.5 g/t cutoff), as well as Hole D-389, intersecting 21.6
m grading 4.00 g/t Au (using a 0.3 g.t Au cutoff) starting at 150.0
m downhole, including 4.0 m grading 17.67 g/t Au (using a 1.5 g/t
cutoff).
The Company continues to conduct its drill
program designed to both expand and infill the Oko West resource,
as well as to advance its exploration programs to identify
additional areas of mineralization outside of the resource area at
Oko West. In parallel with this, the Company continues to move its
development studies forward, with the near-term goal of releasing a
Preliminary Economic Assessment by the end of Q2 2024.
Table 1 - Significant
intersects
Hole ID |
Block |
From |
To |
Downhole Interval |
Au Grade |
Grade x Downhole Interval |
Cutoff ** |
(m) |
(m) |
(m) |
(g/t) |
(gm/t) |
(Au g/t) |
OKWD24-375 |
6 |
31.5 |
91.9 |
60.4 |
1.50 |
91 |
0.3 |
inc. |
|
58.3 |
64.3 |
6.0 |
7.06 |
42 |
1.5 |
inc. |
|
68.3 |
76.6 |
8.3 |
2.32 |
19 |
1.5 |
OKWD24-376 |
6 |
124.2 |
208.1 |
83.9 |
0.67 |
56 |
0.3 |
inc. |
|
181.7 |
189.3 |
7.6 |
1.87 |
14 |
1.5 |
OKWD24-381 |
6 |
85.2 |
130.0 |
44.9 |
2.28 |
102 |
0.3 |
inc. |
|
106.9 |
125.1 |
18.3 |
4.38 |
80 |
1.5 |
OKWD24-383 |
6 |
16.1 |
27.0 |
10.9 |
0.96 |
11 |
0.3 |
OKWD24-383 |
|
67.0 |
133.5 |
66.5 |
0.40 |
26 |
0.3 |
inc. |
|
67.0 |
71.0 |
4.0 |
1.88 |
8 |
1.5 |
OKWD24-385 |
6 |
137.0 |
149.0 |
12.0 |
0.80 |
10 |
0.3 |
OKWD24-385 |
|
174.0 |
306.9 |
132.9 |
0.79 |
104 |
0.3 |
inc. |
|
224.0 |
231.0 |
7.0 |
4.85 |
34 |
1.5 |
OKWD24-388 |
6 |
124.2 |
164.1 |
39.9 |
1.39 |
55 |
0.3 |
inc. |
|
132.4 |
137.4 |
5.0 |
5.76 |
29 |
1.5 |
OKWD24-389 |
6 |
61.0 |
73.8 |
12.8 |
0.38 |
5 |
0.3 |
OKWD24-389 |
|
150.0 |
171.6 |
21.6 |
4.00 |
86 |
0.3 |
inc. |
|
156.5 |
160.5 |
4.0 |
17.67 |
71 |
1.5 |
OKWD24-391 |
6 |
107.0 |
121.2 |
14.2 |
0.46 |
6 |
0.3 |
OKWD24-391 |
|
199.4 |
257.0 |
57.6 |
1.29 |
74 |
0.3 |
inc. |
|
207.7 |
211.3 |
3.6 |
2.45 |
9 |
1.5 |
inc. |
|
227.0 |
233.0 |
6.0 |
2.62 |
16 |
1.5 |
inc. |
|
248.9 |
254.8 |
6.0 |
3.61 |
21 |
1.5 |
Qualified Persons
Justin van der Toorn, CGeol FGS, EurGeol, the
Company’s Vice President Exploration and a “qualified person” under
NI 43-101, has also reviewed and approved the scientific and
technical information contained in this news release.
About Reunion Gold
Corporation
Reunion Gold Corporation is a leading gold
explorer in the Guiana Shield, South America. In 2020, the Company
announced an exciting new greenfield gold discovery at its Oko West
project in Guyana and announced its maiden mineral resource
estimate in June 2023 after just 22 months of resource definition
drilling. In February 2024, the Company announced an updated
Mineral Resource Estimate (the “2024 MRE”) containing a total of
4.3 Moz of gold in Indicated Resources grading 2.05 g/t and 1.6 Moz
of gold in Inferred Resources grading 2.59 g/t. This 2024 MRE
includes an underground Resource containing 1.1 Moz of gold at a
grade of 3.12 g/t Au in the Inferred category. See the Company’s NI
43-101 Technical Report Oko West Gold Project, Cuyuni-Mazaruni
Mining Districts, Guyana dated April 11, 2024, with an effective
date of February 26, 2024 for additional information about the Oko
West Project and the 2024 MRE. The Company is moving forward on
development studies and expects to deliver a Preliminary Economic
Assessment by the end of Q2 2024. The Company continues to explore
several additional priority targets at Oko West that lie outside of
the area of the MRE, as well as leverage its considerable
experience in uncovering new discoveries in the Guiana Shield to
acquire and explore additional new projects in the region.
The Company's common shares are listed on the
TSX Venture Exchange under the symbol 'RGD' and trade on the OTCQX
under the symbol 'RGDFF'. Additional information about the Company
is available on SEDAR+ (www.sedarplus.ca) and the Company's website
(www.reuniongold.com).
For further information, please contact:
REUNION GOLD CORPORATION Rick
Howes, President and CEO, or Doug Flegg, Business Development
AdvisorE: doug_flegg@reuniongold.comE:
info@reuniongold.comTelephone: +1 450.677.2585
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains forward-looking
statements and forward-looking information within the meaning of
Canadian securities laws (collectively, "forward-looking
statements"). Statements and information that are not historical
facts are forward-looking statements. 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. Forward-looking statements in this press
release include statements regarding the potential to define
additional high-grade gold mineralization plans to complete a
preliminary economic assessment by Q2 2024 and expectations
regarding the results of such assessment and study and forward
looking assumptions used relating to the mineral resources
estimates, as well as statements regarding beliefs, plans,
expectations or intentions of the Company.
Forward-looking statements and the assumptions
made in respect thereof involve known and unknown risks,
uncertainties and other factors beyond the Company's control
including risks and uncertainties related to timing, cost and
results of exploration programs, updated resource estimates,
economic assessment and development studies; uncertainties inherent
with conducting business in foreign jurisdictions including
corruption, civil unrest, political instability; geopolitical risks
including risks related to recent actions taken by the government
of Venezuela over the border dispute; unanticipated title disputes;
gold price volatility; currency fluctuations; risks associated with
the recurrence of COVID-19 or future pandemics; delays in obtaining
governmental approvals or financing; risks regarding potential
litigation proceedings; regulatory risks and liabilities including,
regulatory environment and restrictions; metallurgical testing and
recoveries and other risks of the mining industry; speculative
nature of gold exploration; dilution; share price volatility;
competition; and loss of key employees. Additional information on
these risks and other factors is included in documents and reports
filed by the Company with Canadian securities regulators and
available at SEDAR+ (www.sedarplus.ca) including, but not limited
to, the cautionary statements made in the relevant sections of the
Company’s Annual Information Form and Management Discussion &
Analysis.
Forward-looking statements in this press release
are made as of the date herein. Although the Company believes that
the assumptions and factors used in preparing the forward-looking
statements in this press release are reasonable, undue reliance
should not be placed on such statements. New factors emerge from
time to time, and it is not possible for management of the Company
to predict all such factors and to assess in advance the impact of
each such factor on the business of the Company or the extent to
which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking 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.
Figure 1 - Inclined long section through
the planes of mineralization for Blocks 1 & 4 and Blocks 5
& 6 showing drill hole locations and results reported in this
press release. Significant intersects are calculated using a 0.3
g/t Au cutoff, 10 m minimum down hole length and 10 m maximum
consecutive internal dilution. Included intersects are calculated
using a 1.5 g/t Au cutoff, 3 m minimum down hole length and 2 m
maximum consecutive internal dilution.
A figure accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/42c222f5-8778-4639-a75a-c32f16896c59
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