Reunion Gold Corporation (TSX-V: RGD) (“Reunion Gold” or the
“Company”) is pleased to provide an update on its exploration
activities in French Guiana and Guyana.
Boulanger Project, French
Guiana
Following the reporting of high-grade gold
intersections at the Crique Filon discovery (within the Boulanger
Project) in 2019 (August 15th, 2019 and November 4, 2019 press
releases), Reunion Gold has since carried out extensive outcrop
sampling, mapping and geological interpretive analysis of this
discovery and surrounding areas.
Based on this work, Reunion Gold has developed a
new geological model for the Crique Filon discovery, which is
similar in style to the orogenic gold systems found in the Abitibi
belt, Canada, whereby gold mineralization is contained in or
associated with shear zones cutting volcanic rocks. The Company
aims to validate this geological model and the strike extent of the
mineralised shears through future trenching and drilling
programs.
The Crique Filon area contains at least five
sub-parallel shear zones interpreted to range in length from 0.25
to 2 km long, acting as structural controls in a significant
mineralised system (figure 1). The area has produced gold
artisanally for over 100 years and been the object of several
drilling campaigns by four companies since 1998 (Table 1), yielding
65 near-surface mineralized intersections averaging 3.7 g/t over
6.7 m per hole. Historically, drilling focused on large and flat,
but discontinuous, tension veins, not shear-hosted veins. The
drilling results announced by Reunion Gold in 2019 confirm,
however, significant gold intersections in shears (figure 2). Based
on the interpretation of the available drilling data, Reunion Gold
has identified over 3 km of total strike length of mineralised
shear zones at Crique Filon, which are ready for drill and trench
work. Subject to the completion of a financing, the Company intends
to further test the lateral and down-dip extension and continuity
of gold mineralisation in these shear zones by completing a total
of 5,000 meters in 30 holes over two phases of drilling (see
figures 1 and 2 below).
Reunion Gold CEO Réjean Gourde stated: “We are
delighted with the results from the Boulanger exploration program.
Our team of geologists in French Guiana have done some superb work
to develop a geological model for Boulanger, and to identify a
number of interesting drill targets for 2020. Boulanger is now
designated as our highest priority project in French Guiana”.
Guyana Projects (Waiamu, Aremu North,
Oko West, Kartuni, Arawini)
Throughout 2019, extensive exploration and
scoping work was carried out at multiple greenfield targets in
Guyana. The exploration work undertaken has been part of the
strategic alliance with Barrick Gold (the “Alliance”), which goal
is to discover “Tier 1” gold deposits (informally defined as over
five million ounces of gold contained in resources). Following a
year-end review of the current project portfolio in Guyana, the
Alliance has elected to prioritize the Aremu North project in 2020,
with a budget of US$1.7 million, to be funded by Barrick (US$0.9 M)
and the Company (US$0.8 M). The work planned for Aremu North in
early 2020 includes soil geochemistry of anomalous areas previously
defined by stream sample geochemistry, followed by trenching and
drill testing. First results from soil sampling are expected at the
end of Q1 2020.
Following a review of the results from the
exploration work done at the Waiamu, Oko West, Kartuni and Arawini
projects, in accordance with the terms of the Alliance, Barrick
elected at the end of January 2020 to exclude these projects from
the Alliance. Barrick’s 50% interest in those projects will revert
to the Company. Reunion Gold believes that the Waiamu, Oko West and
Kartuni projects retain geological merit to host smaller-sized gold
deposits and plans to conduct further exploration work on these
projects. Reunion will decide how much further capital to allocate
to these early stage projects based on their status in the project
pipeline during a budget review to be held following the completion
of its planned financing. In parallel, new project generation
initiatives are being increased. Reunion Gold is currently
assessing the potential acquisition of new projects located in
Guyana and Suriname.
Qualified Person
Dr. Dominique Fournier, EurGeol., the
exploration manager for Reunion Gold in French Guiana and a
qualified person pursuant to National Instrument 43-101, is
responsible for the work being done at the Boulanger Project.
Carlos H. Bertoni, P. Geo., a consultant to the Company and a
qualified person pursuant to National Instrument 43-101, has
reviewed and approved the scientific and technical data contained
in this press release.
Cautionary Statement
This press release contains certain
forward-looking information or forward-looking statements as
defined in applicable securities laws. Forward-looking statements
are not historical facts and are subject to several risks and
uncertainties beyond the Company’s control, including statements
regarding plans to complete a financing, plans to complete drilling
and other exploration programs, plans to acquire new projects,
potential mineralization, exploration results and statements
regarding beliefs, plans, expectations or intentions of the
Company. Resource exploration and development is highly
speculative, characterized by several significant risks, which even
a combination of careful evaluation, experience and knowledge may
not eliminate. Such risks include but are not limited to:
uncertainties regarding the Company’s ability to complete a
financing, availability of funds to conduct planned exploration
programs and for additional capital requirements, volatility of
gold price; and uncertainties related to the Company’s ability to
complete transactions to acquire new projects. All forward-looking
statements herein are qualified by this cautionary statement.
Accordingly, readers should not place undue reliance on
forward-looking statements. 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) accepts responsibility for
the adequacy or accuracy of this press release.
About Reunion Gold
Reunion Gold Corporation is a Canadian
exploration company focused on acquiring, exploring and developing
gold projects in the Guiana Shield, South America. The Company has
entered into option agreements to acquire an interest in the
Boulanger, Dorlin and Haute Mana projects in French Guiana and in
the Waiamu, Aremu North, Oko West and Arawini projects in Guyana.
The Company’s shares are listed on the TSX Venture Exchange under
the symbol ‘RGD’. Additional information about the Company is
available on SEDAR (www.sedar.com) and on the Company’s website
(www.reuniongold.com). For further information please contact:
REUNION GOLD CORPORATION Réjean
Gourde, President & CEOPaul Fowler, Manager, Corporate
DevelopmentTelephone: +1 450.677.2585Email:
info@reuniongold.com
Figure 1 - Boulanger Project –
Map of the Crique Filon and Doyle targets highlighting historical
mineralized intersections, with proposed drill holes for
2020.
Figure 2 - Geological cross
section at Crique Filon target, showing mineralized intersections
from historical drill holes, along with planned drill holes for
2020.
Table 1 - Compilation of
mineralized intersections from diamond drilling in the Crique Filon
and Doyle target areas, Boulanger project. See figure 1 for target
locations. Key: RGD = Reunion Gold, CMB = Compagnie Minière de
Boulanger.
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