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Rupert reports 'best-ever' intercept at Ikkari

Rupert Resources has reported its “best-ever intercept at Ikkari” during ongoing drilling at its Pahtavaara project in Finland.
Rupert reports 'best-ever' intercept at Ikkari Rupert reports 'best-ever' intercept at Ikkari Rupert reports 'best-ever' intercept at Ikkari Rupert reports 'best-ever' intercept at Ikkari Rupert reports 'best-ever' intercept at Ikkari

Rupert Resources’ Pahtavaara gold project in Finland

Staff reporter

It intercepted 188m at 4.4g/t gold from 64m, including 23m at 8.9g/t, plus a further 66m at 1.5g/t from 365m in hole 121026.

It's the latest in a series of "spectacular" results ahead of an initial resource expected around August.

Rupert recently expanded its fully-funded 2021 drilling programme to 60,000m.

"Ikkari is emerging as one of the best new discoveries of this gold cycle, with a near surface, high-grade component allied with non-refractory metallurgy in a top tier jurisdiction in close proximity to infrastructure," CEO James Withall said.

The past-producing Pahtavaara property also has a fully permitted mill.

It lies about 50km from Europe's largest gold mine, Kittila, owned by Agnico Eagle Mines which has a strategic 14.9% stake in Rupert.

The explorer had raised C$25.6 million in placements last July priced at $3.20 per share.

Its shares (TSXV: RUP) closed unchanged yesterday at $4.50, valuing it about $744 million (US$590 million).