Rupert Resources Reports Audited Financial Results for the Twelve Months Ending February 29, 2024
Both of the above have been posted on the Company’s website www.rupertresources.com and on the Company’s profile on SEDAR+ at www.sedarplus.ca.
Financial Highlights
During the 12 months ending
All references to currency in this press release are in Canadian dollars.
Operating Highlights
During the twelve months ended
Rupert Lapland Project Area
Regional Exploration Program, including Ikkari
The regional exploration program at the Rupert Lapland Project Area is designed to identify and evaluate the mineral potential contained in Rupert’s land package in the CLGB.
Since
Ikkari Preliminary Economic Assessment and Related Studies
Following publication in
The Ikkari PEA and the Updated Ikkari MRE have served inter alia as the basis for the Pre-feasibility Study (“IkkariPFS”) that was initiated during the twelve months ended
Ikkari Project Drilling
The 2023/24 drill program was completed during the second calendar quarter of 2024, comprising some 35,000 metres (“m”) of drilling, with circa 20,000m allocated to drilling within the Ikkari project footprint. Near-term resource addition and the conversion of Inferred Resources to Indicated Resources were points of particular focus for the Company and Updated Ikkari MRE was filed on SEDAR in
During the 2023/24 winter drilling season, which commenced during the
Continuing Exploration
On-going exploration is a further key focus. Following an update to the structural model for the Ikkari deposit, exploration is focussed on the interpreted continuation of prospective structures both at Ikkari and further to the north. New targets within the Rupert Lapland Project Area are being generated and tested through BoT sampling, geophysical programs and scout diamond drilling as appropriate, with the 2023/24 field season now largely completed.
Heinä South, 1km NW of Ikkari, has been a focus for exploration drilling with positive initial results from the winter drilling program followed-up to define a mineralised trend of greater thickness and continuity than previously encountered at Heinä South. To date 16 holes for 3873m have defined mineralisation over a strike length of 250m to a depth of 200m from surface. Mineralisation remains open in all directions and work continues to assess the controls on higher-grade mineralisation immediately north of the main trend.
Advancing Permitting and Environmental Work
Permitting, specifically progression of the Environmental Impact Assessment (“EIA”) Programme and Land Use Planning is also a key focus of the Company. The EIA Programme was initially presented to the respective authorities on
As part of this process the Company continues with numerous baseline environmental assessments, as well as on-going engagement across all stakeholder groups. The Ikkari PFS is drawing from these processes as appropriate.
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Cautionary Note Regarding Forward Looking Statements
This press release contains statements which, other than statements of historical fact constitute “forward-looking statements” within the meaning of applicable securities laws, including statements with respect to: results of and plans for exploration and development activities. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “Estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and Estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended
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Chief Executive Officer
jwithall@rupertresources.com
Head of Corporate Development
tcredland@rupertresources.com
Tel: +1 416-304-9004 Web:
http://rupertresources.com/
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