REBgold Corp.: Further Positive Drilling Results Announced on Finnish Asset Under Letter of Intent
Highlights
- Important new high-grade hanging wall shears intersected in BELOSI044:
-- 14.18m @ 9.14 g/t Au from Bedrock Surface;
-- and 3.00m @ 9.56 g/t Au from 73m downhole.
- New "U Lode System" identified with BELOSI044 intersecting 17.92m @ 2.78 g/t Au
- U Lode System confirmed with BELOSI045 intersecting 7.89m @ 7.07 g/t Au
David Pym (CEO of Belvedere) comments "Osikonmäki continues to live up to expectations, with consistent intersections along the main shear system averaging between 1-3 g/t Au. The geological model is increasingly robust as demonstrated by the new discovery of the U lode system, inferred from some very sparse historical intersections and the confirmation of a high grade flat-lying near surface shear system in the hanging wall These hanging wall shears may prove to be extremely important to the overall economics of the project as they could reduce the overall waste to ore ratio significantly in any mining operation. The system remains open in all directions, and the geological model suggests there is excellent potential to discover further lode systems as the drilling continues along the shear zone."
Hole From(m) To(m) Interval(m) Au g/t GT
BELOSI034 21.51 28.04 6.53 1.70 11
BELOSI034 48.08 49.24 1.16 3.55 4
BELOSI035 120.91 131.63 10.72 1.67 18
BELOSI037 29.79 35.60 5.81 1.35 8
BELOSI038 13.01 27.85 14.84 1.03 15
BELOSI038 28.58 34.18 5.60 2.53 14
BELOSI039 49.43 74.50 25.07 1.26 32
BELOSI040 70.53 77.72 7.19 1.86 13
BELOSI040 85.36 88.41 3.05 3.69 11
BELOSI041 114.19 127.60 13.41 1.17 16
BELOSI042 78.29 79.34 1.05 2.76 3
BELOSI044 7.53 21.71 14.18 9.14 130
BELOSI044 72.97 75.97 3.00 9.56 29
BELOSI044 117.83 135.75 17.92 2.78 50
BELOSI045 35.49 36.79 1.30 3.32 4
BELOSI045 92.27 92.72 0.45 6.93 3
BELOSI045 98.12 103.73 5.61 1.21 7
BELOSI045 110.36 118.25 7.89 7.07 56
Table 1: Significant intersections using a 1.0 g/t Au cut-off. No top cut is applied. Maximum grade is 39.6 g/t Au over 0.76m, one of six individual samples over 15 g/t Au (0.5 oz/t). Intersections are estimated to be 90% of true width.
This drill program is focused on infilling previous drilling to 40 centimeters between the bedrock surface and 100 metres vertical. The Osikonmäki gold mineralization is associated with a 45 ° south dipping shear zone between 4 and 30 m thick. A series of higher grade chutes pitch at shallow angles across the plane of the main shear, plunging 20° to the ESE. The drill intersections in BELOSI 33, 34, 35 and 36 were targeted to intersect the main shear between the S and T lode systems. All holes intersected the main shear zone with BELOSI 33 and 36 failing to intersect any significant mineralization. BELOSI 37, 38, 39, 40 and 41 were designed to infill gaps and test the margins of the main shear around the T lode system. BELOSI 42 was aimed at exploring the main shear eastwards. BELOSI 44 and 45 were targeted to test the U lode system predicted by the model and also to confirm historical intersections of hanging wall shear systems.
The drilling was undertaken by Drillcon SMOY of Finland, providing 42 mm diameter core. Samples are comprised of half diamond core. Intersections are estimated to be 90% of true width. No top cuts are applied with the highest individual assay being 39.6 g/t gold over 0.76 metres. Core samples are sawn in half on site, prepped and assayed by 30g fire assay with an AAS finish at the Internationally accredited laboratories of ALS Chemex in Finland. The quality assurance-quality control (QAQC) program of Belvedere consists of the insertion of certified standards of known gold content every 20 samples, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process. Standards, blanks and duplicates make up approximately 15% of the samples assayed. The remaining half core is retained on site for verification and reference purposes.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statement, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company (including statements relating to future drill results) are forward-looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements.
Qualified Person
This news release was reviewed by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.
REBgold PROFILE
REBgold is in the process of acquiring and developing economic interests in gold assets, in particular, where it can utilize its competitive advantages, to create shareholder value.
The Company's key competitive advantages include an experienced board and management team, strategic investor backing and proprietary technology. The Company's bacterial oxidation and bioleaching technologies are commercially proven for the liberation of precious metals from difficult-to-treat sulphide ores and concentrates, with environmental and economic benefits. To date, the Company's BACOX technology has been used at three gold mines located in Western Australia, Tasmania and China.
Shares outstanding 162,258,486
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Contact Information
REBgold Corporation
EJ Spencer
Corporate and Investor Relations Administrator
416-646-1850 X 242
www.reb-gold.com