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RGD Reunion Gold Corp

0.67
0.02 (3.08%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Reunion Gold Corp TSXV:RGD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.02 3.08% 0.67 0.62 0.67 0.68 0.64 0.65 1,897,790 21:02:08

Reunion Gold Completes Resource Definition Drilling Program on its Matthews Ridge Manganese Project

22/08/2012 2:25pm

Marketwired Canada


Reunion Gold Corporation (TSX VENTURE:RGD) ("Reunion or the "Company") is
pleased to provide an update on its exploration activities at the Matthews Ridge
manganese project in Guyana, South America.


The Company has concluded its planned drilling program, completing a total of
47,570 meters of diamond drilling in 735 holes and 17,361 meters of reverse
circulation drilling in 283 holes. The average length of all holes drilled is
approximately 60 meters. 


Reunion has to date received complete assay results from 571 drill holes, of
which 513 were previously released. Results from 54 diamond drill holes and four
reverse circulation drill holes done in 2012 are reported in this press release.
Reunion expects to receive the balance of the assay results by the end of
September 2012.


The drilling program closed the drill hole-spacing between Hill 5 to Hill 9 to
nearly 50 m by 25 m centers, while drill hole spacing for Hills 1 to 4 is about
50 m by 50 m, thus providing sufficient information on the mineralized bodies to
initiate a resource estimation. The geological database is being delivered to an
independent consultant, with the objectives of completing an initial resource
estimate and a technical report compliant with Canadian National Instrument
43-101 in the second half of 2012.


Highlights of the most significant assay results are presented in Table 1. Refer
to Appendix 1 for complete new results.


Table 1 (1)



----------------------------------------------------------------------------
                                          Manganese intersection            
                                 --------------------------------           
            Target  Total length        From        To     Length  Grade  Mn
Hole ID       hill            (m)        (m)        (m)       (m)        (%)
----------------------------------------------------------------------------
                             Diamond drill holes                            
----------------------------------------------------------------------------
11MR0195        H8          53.70      16.00      30.50     14.50      13.90
----------------------------------------------------------------------------
11MR0215        H8          54.50       0.50      19.50     19.00      17.38
----------------------------------------------------------------------------
11MR1005        H7         109.00      11.20      46.10     34.90      25.62
----------------------------------------------------------------------------
11MR1007        H7          90.90       5.90      24.50     18.60      15.32
----------------------------------------------------------------------------
11MR1008        H7          92.70      36.30      67.20     30.90      13.64
----------------------------------------------------------------------------
11MR1010        H7         111.80       0.00      53.90     53.90      15.50
----------------------------------------------------------------------------
11MR1013        H7          99.70       9.20      39.80     30.60      20.63
----------------------------------------------------------------------------
11MR1046        H7         131.10      29.00      61.20     32.20      14.69
                                 -------------------------------------------
                                       66.70      88.20     21.50      19.61
----------------------------------------------------------------------------
11MR1049        H7          82.20       4.70      23.40     18.70      16.12
----------------------------------------------------------------------------
11MR1141       H9E          75.40       0.00      40.00     40.00      12.36
----------------------------------------------------------------------------
12MR1191       H9C          42.80       2.20      23.90     21.70      14.47
----------------------------------------------------------------------------
12MR2043   H5E-EXT          84.40      54.50      71.20     16.70      17.30
----------------------------------------------------------------------------
12MR2047   H5E-EXT          50.00       9.50      33.00     23.50      12.93
----------------------------------------------------------------------------
12MR2081   H5E-EXT          43.00       0.00      25.00     25.00      13.13
----------------------------------------------------------------------------
                       Reverse circulation drill hole                       
----------------------------------------------------------------------------
12MR3042       H9E          91.00      55.00      91.00     36.00      14.55
----------------------------------------------------------------------------
(1) Minimum intersection length: 14 m; minimum average grade: 12% Mn;       
    maximum interval dilution: 2 m                                          



Drilling results continue to indicate an excellent correlation with trench
intersections, confirming that mineralization persists regularly throughout the
saprolite zone and continues as proto-ore in the fresh rock. Maps showing the
various target hills and location of mineralized zones in relation to the drill
holes are provided in Appendixes 2 and 3.


The trenching and drilling programs were designed both to evaluate the
previously mined areas and to define the extent and characteristics of known but
unexplored mineralized zones. While trenches allow surface sampling and provide
good geological information, the drilling program aims at demonstrating the
continuity of manganiferous bodies at depth and their geometry. Drilling has
been done to the saprolite-fresh rock interface. The Company intends to define
resources only in the saprolitic and detrital materials, which are amenable to
simple earth-moving extraction.


Project description

The Matthews Ridge Project consists of four Prospecting Licenses covering an
area of 185 km2 located in northwest Guyana, in and around the former Matthews
Ridge mine. The Company also holds two Permissions for Geological and
Geophysical Surveys ("PGGS") for manganese over an area of 14,970 km2
surrounding the four Prospecting Licences. The Company recently relinquished
approximately 25% of the original surface area on the first anniversary of the
PGGS in accordance with the terms of the PGGS. Manganese ore was mined from 1960
to 1968 by Union Carbide and exported via railroad and a fluvial port. Mining
was done on five of a series of nine hills extending for 15 km and striking
northeastern-southwestern (see Appendix 2). 


Manganese mineralization is hosted by the Barama Group sedimentary sequence of
Proterozoic age and consists of typical mantle and detrital deposits formed as a
result of oxidation and supergene enrichment of manganese-rich sediments under a
tropical climate. The mantle deposits are formed by manganese oxide and
hydroxide minerals occurring along the crest of hills and are related to the
weathered profile, reaching 120 m below surface. 


Quality assurance and quality control

Diamond drilling was done using HQ-diameter casing and triple-tube technology to
maximize recovery. Half of the core was used for sampling at regular 1.5 m
intervals. Reverse circulation drilling was done with six-inch casing, sampling
at every meter and splitting the rock chips once in the field and processing an
entire half sample. Standard reference materials, internal standards, blanks and
duplicate samples have been used to control laboratory accuracy and precision.
Core sample preparation was done by Activation Laboratories Ltd. and ACME
Laboratories at their facilities in Georgetown, comprised of crushing to minus 2
mm and pulverization passing 200 mesh, followed by XRF assays for manganese and
other relevant oxides at their laboratories in Canada. Sample preparation and
XRF assay of reverse circulation drill samples were done by FILAB Guyana
Laboratories on site using the same methodology described above.


Carlos H. Bertoni, P. Geo., a qualified person as defined under the terms of NI
43-101, has verified the data and approved the technical information contained
in this press release.


About the Company

Reunion Gold Corporation is a mineral exploration company focused on the
acquisition, exploration and development of mineral properties in the Guyana
Shield of South America. The Company through its 100% indirectly owned
subsidiary Reunion Manganese Inc., has assembled a large, strategic land
position to conduct exploration and development activities for manganese in the
North West District of Guyana. The Company also has the right to acquire a 100%
interest in a gold exploration project located in the Lely Mountain area in
Eastern Suriname. 


Manganese is the fourth largest metal consumed in the world, behind iron,
aluminum and copper. It is a key component in steel and iron production with no
viable substitute.


Additional information about the Company is available on SEDAR at www.sedar.com
and at www.reuniongold.com.


Forward Looking Statements

This press release contains forward-looking information. Although the Company
believes in light of the experience of its officers and directors, current
conditions and expected future developments and other factors that have been
considered appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on them because
the Company can give no assurance that they will prove to be correct. Forward
looking information in this news release includes statements regarding the
results of the exploration activities and interpretation of such results, the
nature, potential size and continuity of the mineralization system, the timing
and completion of future work programs, mineral resource estimate and geological
modelling. Forward-looking information involves known and unknown risks,
uncertainties, assumptions and other factors that may cause actual results or
events to differ materially from those anticipated in such forward-looking
information. The forward-looking statements contained in this press release are
made as of the date hereof and the Company undertakes no obligations to update
publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by
applicable securities laws.


Appendix 1 to 3 are available at the following link:
http://file.marketwire.com/release/rgd_appendix0822.pdf


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