Rupert Resources Reports Exceptional Recoveries From Metallurgical Testwork at Ikkari and Provides Exploration Outlook for 2024/25

Figure 1: Gold leach recoveries for Ikkari PFS variability samples at range of grades. Gold leach recoveries reported as a percentage of the back-calculated head grade for Ikkari variability samples. Recovery percentages are shown for P80 100μm grind size, 1g/l NaCN concentration after 48hrs leach time. Gravity concentration was not performed prior to leach testing for the variability samples.

In This Article:

Figure 2. Ikkari bulk sample recoveries to gravity concentrate and leach circuit. Gold recoveries by gravity concentration and gravity tail leach as a percentage of the back calculated head grade in the PFS bulk sample. Recovery to gravity concentrate stated from a single stage Falcon pass at 220μm. Leach recoveries stated at P80 100μm grind size, 0.5g/t NaCN after 24hr leach. Percentages affected by rounding.
Figure 3. High priority 2024/25 drilling targets. Updated lithological and structural interpretation of the wider Area 1 project with high priority prospects for the upcoming winter season highlighted by boxes (letters correspond to text in regional exploration section of press release).
Figure 4: Base of till coverage across the eastern portions of the Rupert Lapland Project Area on 1st VD magnetic image. Areas considered most prospective for magmatic Ni-Cu-PGE deposits are outlined by the white boxes.
Figure 5. Plan Map Showing the Location of New Drillholes in Ikkari in the Context of November 2023 Mineral Resource Estimate Block Model
Figure 6. Cross Section through the Ikkari deposit along drillhole 124054 showing the intercepts achieved in relation to the resource block model and geological model, looking towards 065° Note section width is 50m to allow for intercept in hole 124057 to be shown, Block Model and Geology shown on section cut along drillhole 124054
Figure 7. Plan Map Showing the Location of New Drillholes in Hein? South
Figure 8. Cross Section through the Hein? South deposit along drillhole 124058 showing the intercepts achieved in relation previously announced intercepts

TORONTO, September 03, 2024--(BUSINESS WIRE)--Rupert Resources Ltd. ("Rupert" or the "Company") provides an update on the Ikkari project demonstrating exceptional gold recoveries, further significant drill intercepts and an exploration update and outlook for the upcoming season.

Highlights

Ikkari Metallurgy

  • Ikkari Pre-Feasibility Study ("PFS") metallurgical test work is complete demonstrating exceptional gold recoveries from a simple gravity and leach circuit.

  • Bulk sample demonstrated 96.4% Au recovery from a head grade of 1.99g/t including a significant gravity recoverable gold component.

  • Variability samples returned recoveries between 93.4% and 98.8% highlighting the consistent high recoveries across a range of head grades.

Ikkari Drilling

  • #124054 intersected 192m at 3.6g/t Au from 39m downhole (30m vertical), including 12.45m at 9.8g/t Au from 123.25m (Figures 5 and 6). It is the fourth-best intercept achieved to date at Ikkari with 691 gram x meters (see Table 1 for details). This metallurgical hole demonstrates once again the potential for Ikkari to deliver exceptional grades and continuity.

  • #124057 intersected 35m at 6.3g/t Au from 124m downhole (95m vertical) including 6m at 13.5g/t Au from 149m. This geotechnical drillhole was principally designed to intersect the southern wall of the open pit in an area underrepresented in geotechnical data.

  • #124044 intersected 39m at 1.2g/t from 47m and 19.4m at 1.4g/t from 99m in a geotechnical hole informing the western sector of the planned open pit design.

Regional Exploration

  • #124065 intersected 2m at 13.2g/t Au from 59m downhole including 1m at 25.2g/t Au from the Hein? South northern high-grade zone whilst #124070 intersected 18m at 0.9g/t Au and 14m at 1.3g/t Au in the southern breccia zone. Further extensions to both the high grade and the broader southern breccia zone are a key focus this coming winter with the aim of adding to the project resource inventory.

  • Seven (7) priority targets ranging from follow-up drilling on targets that have yielded promising intercepts to completely untested targets, have been highlighted for drill testing in the winter 2024/2025 drill season

James Withall, CEO of Rupert Resources commented "As we work towards completion of the PFS, the best-in-class metallurgical results reported today show the potential to further increase the future revenues from Ikkari whilst at the same time simplifying the process plant design. We have also published further drilling results which confirm the exceptional grade and continuity in the upper levels of the Ikkari orebody and indicate satellite orebody potential 1km to the northwest at Hein? South. After a summer of field mapping and sampling, drilling has now recommenced on our regional exploration targets and the team have a number of high priority programs as we head into the autumn and winter season."