#Finland #Gold Explorer @RupertResources on track to deliver.
#Cormark & @Scotiabank with comments on Rupert Resources' latest drill results from #Ikkari.
Below is Scotiabank's comment:
The Gold Price Pullback Can't Overshadow What is Shaping Up to be an INCREDIBLE Discovery…:
Earlier this week, Rupert Resources (RUP-CN, Not Covered) reported yet another set of impressive drill results (according to Scotia Mining Sales - look at these widths!) from its 100%-owned from its Ikkari prospect, the focus of its ongoing exploration program at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland. The mineralized strike length at Ikkari is at least 650m in total with mineralization on all sections intersected to a depth of at least 300 to 500m.
Highlights from Wednesday's release include:
· Hole 121063 demonstrated multiple zones of higher grade gold mineralisation re-emerging at depth in the western section of Ikkari contained within a broad intercept of 1.9g/t gold over 142m
· Hole 121028 intersected 3.1g/t Au over 76m from 248m as part of the infill program in the central portion of the discovery and a step back Hole 121030 beneath this intersected two strongly mineralized zones of 3.7g/t gold over 77m from 245m and 2.8g/t Au over 65m from 346m
· Hole 121029 is a shallow step out hole to the northwest and intersected 2.1g/t Au over 25m from 124m
· Hole 121032 intersected mineralisation both at surface and in multiple zones including 1.6g/t Au over 74m from 396m, with mineralisation extending to >450m vertical meters.
· The Mineralized system at Ikkari remains open in all directions
1) RUPERT is WELL-FUNDED: RUP's existing cash plus the recent funding totals around $60M.Taking into account and outstanding Agnico Eagle warrants (AEM already owns 10% of RUP), as well as in the money options, RUP has a fully diluted cash position of over $80M and is very well funded for the critical valuation uplift stages of project development. Most importantly, RUP has locked in its required drilling capacity for the foreseeable future including the BoT rig that has been its primary exploration tool for the last two years.
2) KEY CATALYST AHEAD - MAIDEN IKKARI RESOURCE COMING SUMMER 2021: Resource work is progressing with RUP's maiden Ikkari resource still planned for this summer. According the company, preliminary work on project economics, as well as work on permitting has commenced. Lab turnarounds have slowed with increased activity in the region and sector generally but the critical mass of drilling and assay results were delivered over the winter to allow the resource work will all culminate in the near-term!
Attached is an excerpt from Cormark Securities' research comment on June 17th.
