LONGUEUIL, May 28, 2021 - Reunion Gold Corp.
(TSX-V: RGD) (the "Company"), following the successful completion of a $10.4 million financing, is pleased to provide details about its planned exploration program at its Oko West Project in Guyana. The program will include a combination of approximately 130 diamond and reverse circulation holes totalling up to 11,000 meters.
Carlos Bertoni, Reunion Gold's Acting CEO, stated: "We are excited with the exploration results obtained so far from the trenching and drilling work done at the Oko West Project (see results in previous press releases) and are launching a follow-up program aiming to expand the footprint of three mineralized shear zones discovered in 2020, which has now been tested by trenching and drilling over five kilometres (Figure 1). Gold mineralization is found in north-south shear zones straddling the six-kilometre-long contact of granitic and volcanic rocks within the project boundaries. This new program aims to define the geometry, volume and gold grade of saprolitic material over a strike length of approximately three kilometres and will be executed in such a way that a mineral resource could be estimated, if warranted."
Work done so far confirms significant gold mineralization hosted by three shear structures extending for hundreds of meters along strike and downwards into weathered bedrock (saprolite), justifying a comprehensive exploration program consisting of 100 meter-spaced trench and drill hole "fences" on eight blocks (Figure 2). These fences aim to test the lateral and depth continuity of gold mineralization down to unweathered bedrock. In addition to the 11,000 meters in 130 holes of drilling, 25 trenches are planned to provide a continuous near-surface sampling of saprolite. We expect that more than 12,000 samples will be assayed. This program is being launched during the first week of June and will take close to five months to complete, at an estimated cost of approximately C$3.4 million.
The Oko West area is in the Cuyuni River basin of Guyana, a traditionally mining-friendly jurisdiction. The Company has an option to acquire a 100% ownership interest in mineral rights covering an area of approximately 11,900 acres.
The technical information in this press release has been reviewed and approved by Carlos. H. Bertoni, P.Geo., the Company's Acting CEO. Mr. Bertoni is a qualified person under Canadian National Instrument 43-101.
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 mineral resource estimate, trenching, drilling and other exploration programs, 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. 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) accept responsibility for the adequacy or accuracy of this press release.
About Reunion Gold
Reunion Gold Corp. is a leading gold explorer in the Guiana Shield, South America, with a portfolio of projects in Guyana, Suriname and French Guiana. The Company's common 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 the Company's website (www.reuniongold.com).
For further information, please contact:
Reunion Gold Corp.
Carlos H. Bertoni, acting CEO or
Paul Fowler, Manager, Corporate Development
Telephone: +1 450.677.2585
Figure 1: Map of Oko West project area schematic geology, permits outlines and shear zones discovered (red dashed lines). The map also shows gold anomalies from soil geochemistry testing the volcanic - granitoid contact in the eastern part of the project area.
Figure 2: Map showing schematic geology, soil gold anomaly and layout of exploration blocks.