Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Infill drilling at Rupert Resources Ltd.’s (TSXV: RUP) Ikkari discovery, part of its 100% owned Rupert Lapland project in northern Finland, continues to return significant intervals of gold mineralization.
On Tuesday, the company reported new results from a further 7 primarily infill holes, one returned a record 103m of 8 g/t Au from 155m in the central section of the resource, as well as a nearer-surface interval of 2.5 g/t Au over 80m from 48m.
Other drill highlights showcasing broad intervals of gold mineralization include 105m of 3.5 g/t Au and 41m of 11.8 g/t Au, including 30.0 g/t Au over 7.4m.
“Infill drilling at Ikkari continues to consolidate grade and ounces through the intersection of significantly broad intervals of high-grade gold mineralization, which are likely to have a positive impact on the economics of the project,” James Withall, CEO of Rupert Resources, said in a news release.
“Our 2021/22 winter drilling season is building momentum with more rigs turning at Ikkari and other target areas with potential to deliver further discoveries of scale,” he added.
Ikkari is one of six discoveries the company has made on the Rupert Lapland project, located in the epicentre of the Central Lapland Greenstone Belt. The deposit has an inferred mineral resource estimate of 49Mt at 2.5 g/t gold for 3.95 million ounces.
The Rupert Lapland project also holds the permitted Pahtavaara mine and mill, on active care & maintenance, within a regional land package of some 735km2.
Since acquiring the project in 2016, Rupert has taken exploration both at the existing mine and across the region to demonstrate the potential for significant economic mineralization.
Shares in Rupert Resources jumped 6.1% as of 12:15 EDT following the latest set of drill results. The gold exploration company has a market capitalization of C$924.1 million (728m).
