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Rupert surges after best drill results yet

Shares in Finland-focused Rupert Resources are up again after the company announced its best set of drilling results yet from the Ikkari discovery in northern Finland.
Rupert surges after best drill results yet Rupert surges after best drill results yet Rupert surges after best drill results yet Rupert surges after best drill results yet Rupert surges after best drill results yet

Rupert's 1400tpd mill at Pahtavaara in northern Finland

Staff reporter

Rupert shares stood just below C$3.60 on Tuesday morning, up from C$2.80 on Friday evening.

The company reported three eye-catching drill intersections: 3g/t gold over 171.2m from 19.8m; 2.1g/t gold over 143.6m from 70.4m, and 1.5g/t Au over 200.9m from 9.1m.

Rupert claims to have drilled the top five gold intercepts in Europe since the beginning of 2019.

The company said it plans to add a third drill rig to accelerate the drilling programme.

"This will allow us to continue to test the outer limits and infill Ikkari as well as test new targets," said Rupert.

The company is still awaiting results from 13 more holes.

Initial drilling at Ikkari began in May, and Rupert has delivered impressive results across the summer.

Ikkari is among the drilling targets Rupert has identified west of the former Pahtavaara underground mine. The Canadian-listed junior described Area 1, where Rupert is located, as a "5km-long highly prospective section of a regional domain-bounding structure, 20km of which is contained within Rupert's contiguous land holding".