Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company”)
is pleased to announce additional drill results from its ongoing
infill and step out drill program at the Kairuni zone on its Oko
West project in Guyana. Hole D-380, which is located in Block 6
(see Table 1 and Figure 1) intersected 39.7 meters (“m”) @ 5.27
grams per tonne of gold (“g/t Au”) from 152.3 m downhole (using a
0.3 g/t Au cutoff), including 3.8 m @ 14.18 g/t Au and 13.0 m @
10.50 g/t Au (using 1.5 g/t Au cutoffs). The results from Hole
D-380 are encouraging as they indicate the potential for additional
high-grade mineralized shoots to be defined in areas of existing
wider drill spacing where the current infill continues. Downdip
from D-380 and also within Block 6, drill hole D-392 intersected
70.3 m @ 1.08 g/t Au from 193.0m downhole, including 12.0 m @ 3.42
g/t Au.
On the northern margin of Block 4, Hole D-377,
which is located on the northern margin of the Block 4 high grade
zone (see Table 2 and Figure 1), intersected 55.0 m @ 2.42 g/t Au
from 645 m downhole (using a 0.3 g/t Au cutoff), including 5.5 m @
5.97 g/t Au and 20.4 m @ 3.42 g/t Au (using a 1.5 g/t Au
cutoff).
Rick Howes, President & CEO of Reunion Gold,
commented, “It is encouraging to see these strong exploration
results from the Block 6 area as the Company continues to advance
along its dual track strategy of continuing its exploration
programs while at the same time rapidly advancing Oko West down the
development path. The PEA remains on track for release by the end
of Q2 2024. On the exploration front, the addition of new datasets
is allowing our exploration team to target more effectively within
other areas of the Oko West project area. Alongside this, Reunion
is continuing to evaluate and define new properties for further
exploration in both Guyana and Suriname.”
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Table 1 - Drill results from Blocks 5 &
6. |
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Hole ID |
Block |
From(m) |
To(m) |
Downhole Interval(m) |
Au Grade(g/t) |
Grade x Downhole
Interval(gm/t) |
Cutoff **(Au g/t) |
OKWD24-371 |
6 |
55.0 |
74.6 |
19.6 |
1.7 |
33 |
0.3 |
inc. |
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70.4 |
73.6 |
3.2 |
8.3 |
26 |
1.5 |
OKWD24-373 |
6 |
36.0 |
52.0 |
16.0 |
0.3 |
5 |
0.3 |
OKWD24-373 |
6 |
69.0 |
120.6 |
51.6 |
0.7 |
36 |
0.3 |
OKWD24-378 |
5 |
3.8 |
19.0 |
15.2 |
0.4 |
7 |
0.3 |
OKWD24-378 |
5 |
32.0 |
73.5 |
41.5 |
0.3 |
14 |
0.3 |
OKWD24-379A |
6 |
173.1 |
231.3 |
58.2 |
1.1 |
62 |
0.3 |
inc. |
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174.2 |
181.1 |
6.9 |
3.3 |
23 |
1.5 |
OKWD24-380 |
6 |
3.0 |
15.0 |
12.0 |
0.4 |
4 |
0.3 |
OKWD24-380 |
6 |
73.0 |
94.2 |
21.2 |
0.8 |
17 |
0.3 |
OKWD24-380 |
6 |
112.0 |
129.0 |
17.0 |
0.8 |
13 |
0.3 |
OKWD24-380 |
6 |
152.3 |
192.0 |
39.7 |
5.3 |
209 |
0.3 |
inc. |
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91.0 |
94.2 |
3.2 |
4.0 |
12 |
1.5 |
inc. |
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160.0 |
163.8 |
3.8 |
14.2 |
54 |
1.5 |
inc. |
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170.0 |
183.0 |
13.0 |
10.5 |
137 |
1.5 |
OKWD24-392 |
6 |
193.0 |
263.3 |
70.3 |
1.1 |
76 |
0.3 |
inc. |
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199.2 |
211.2 |
12.0 |
3.4 |
41 |
1.5 |
inc. |
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240.4 |
243.4 |
3.0 |
2.9 |
9 |
1.5 |
inc. |
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252.7 |
258.3 |
5.6 |
2.8 |
16 |
1.5 |
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Table 2 - Drill results from Block 4 infill
drilling. |
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Hole ID |
Block |
From(m) |
To(m) |
Downhole Interval(m) |
Au Grade(g/t) |
Grade x Downhole
Interval(gm/t) |
Cutoff **(Au g/t) |
OKWD24-374-W1 |
4 |
678.0 |
689.8 |
11.8 |
1.4 |
16 |
0.3 |
OKWD24-374-W1 |
4 |
710.9 |
735.0 |
24.1 |
1.6 |
38 |
0.3 |
OKWD24-374-W1 |
4 |
750.9 |
763.0 |
12.1 |
1.4 |
17 |
0.3 |
inc. |
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685.6 |
689.8 |
4.1 |
3.0 |
13 |
1.5 |
inc. |
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714.5 |
720.2 |
5.8 |
6.1 |
35 |
1.5 |
inc. |
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752.9 |
757.9 |
5.0 |
2.5 |
13 |
1.5 |
OKWD24-377 |
4 |
579.0 |
609.1 |
30.1 |
0.6 |
17 |
0.3 |
OKWD24-377 |
4 |
645.0 |
700.0 |
55.0 |
2.4 |
133 |
0.3 |
inc. |
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646.0 |
650.0 |
4.0 |
3.0 |
12 |
1.5 |
inc. |
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656.4 |
661.9 |
5.5 |
6.0 |
33 |
1.5 |
inc. |
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668.9 |
689.3 |
20.4 |
3.4 |
70 |
1.5 |
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The Company now has eight diamond drill rigs
operating at the Oko West project. Five of these rigs are focused
on Blocks 1, 4, 5 & 6 with the dual objective of both adding
new resources and the conversion of inferred resources to indicated
prior to the commencement of additional studies expected after the
completion of the Preliminary Economic Assessment in Q2 2024. Two
diamond rigs are carrying out geotechnical and hydrogeological
drilling related to potential infrastructure sites on the
project.
The eighth diamond rig is focused on drill
testing exploration targets outside of the MRE area in search of
potential satellite resources. At present this rig is testing
targets near to the North Drive area located in the west of the
permit; and will shortly move to testing a zone of coincident
geochemical and geophysical anomalies in the Takutu zone,
immediately south and along strike from the Kairuni resource along
the granitoid contact zone. The Company has made significant
progress in adding additional geochemical and geophysical data
coverage on the project, in particular, through the use of a Scout
RC rig to test beneath colluvium and duricrust, as well as the use
of gradient array IP and ground magnetics. Figure 2 shows the
extent of IP coverage on the project and demonstrates the success
with which the results map structural corridors that host
alteration and early sulphidation events within Blocks 1 through 4
(as correlated with drill core observations). These corridors have
been subsequently used as pathways for gold-bearing fluids and are
host rocks to mineralization. The discrete structural corridors
that are of particular interest for further exploration and drill
plans are underway for two new targets in Blocks 7 and 8.
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 in June
2023 after just 22 months of resource definition drilling. In
February 2024 the Company announced an updated Mineral Resource
Estimate 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. The February 2024 Mineral Resource
Estimate includes an underground Resource containing 1.1 Moz of
gold at a grade of 3.12 g/t Au in the Inferred category. See
February 26, 2024 press release for more details. The Company is
moving forward on development activities related to Oko West and
expects to deliver a PEA 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.sedar.com) 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.com E: info@reuniongold.comTelephone: +1
450.677.2585
Cautionary Disclaimer 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”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “potential”, “possible” and similar expressions, or
statements that events, conditions, or results “will”, “would”,
“may”", “could” or “should” occur or be achieved. Forward-looking
statements are subject to known and unknown risks, uncertainties
and assumptions, many of which are beyond the Company's ability to
control or predict, that may cause our actual results, performance
or achievements, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.
Forward-looking statements in this press release
include forward looking assumptions used relating to the mineral
resources estimates; expectations to expand the resources at depth
and elsewhere within the Oko West Project, expected metallurgical
recoveries, gold price outlook; potential mineralization,
expectations regarding completion of a preliminary economic
assessment and other studies, and statements regarding the
Company’s strategy, plans and goals, and priorities, including
timelines and schedules. Risks and factors that could cause actual
results or future events to differ materially from current
expectations include, without limitation: risks related to the
estimation of the mineral resource and the resource model,
including risks that mineral content identified in the mineral
resource estimate differs from that predicted and that the
assumptions taken may no longer be appropriate; recoveries of gold;
metallurgical testing and recoveries; gold and other commodity
price volatility; currency fluctuations; additional financing
required to continue operations may not be available when needed or
on acceptable terms and conditions acceptable; geopolitical risks;
economic climate; global outbreaks of infectious diseases; risks
regarding potential litigation; regulatory risks and liabilities
including, regulatory environment and restrictions; timing and cost
of exploration programs and studies, results of exploration
programs; dilution; share price volatility and the price of our
common shares; competition; loss of key employees; as well as those
risk factors outlined in the Company’s public disclosure documents
including its most recent Annual Information Form available at
sedarplus.ca and on the Company’s website, which are incorporated
herein.
The forward-looking information contained in
this news release represents the expectations of the Company as of
the date of this news release and, accordingly, is subject to
change after such date. Readers should not place undue importance
on forward-looking information and should not rely upon this
information as of any other date. The Company undertakes no
obligation to update these forward-looking statements in the event
that management’s beliefs, estimates or opinions, or other factors,
should change.
Cautionary Note on Mineral
Resources
This press release contains the terms “Inferred”
and “Indicated” mineral resources. Investors are cautioned not to
assume that any part or all of the Inferred and Indicated Mineral
Resources reported in this press release are or will be
economically or legally mineable. Investors are also cautioned not
to assume that all or any part of mineral deposits in the Inferred
and Indicated Resource categories will ever be converted into a
higher category of Mineral Resources or into Mineral Reserves.
Under Canadian rules, estimates of inferred Mineral Resources may
not form the basis of feasibility studies. The Mineral Resources
set out in this news release are estimates, and no assurance can be
given that the anticipated tonnages and grades will be achieved or
that the Indicated level of recovery will be realized.
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 mineralizaiton 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.
Link to Figure 1:
https://www.reuniongold.com/240328-pr?lightbox=dataItem-lub59plt
Figure 2 – Project map showing the
extent of drilling overlain on topography and results form a
gradient array IP survey. Inset map (right) shows the MRE
mineralized domains at 0 m RL, approximately 150 m below surface,
and the correlation with IP response. New targets, west of previous
wide spaced drilling in Blocks 7 and 8, are shown to the south of
the MRE extents. The location of drill hole D-380 is noted within
the inset map relative to Block 6.
Link to Figure 2:
https://www.reuniongold.com/240328-pr?lightbox=dataItem-lub59plw
Reunion Gold (TSXV:RGD)
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