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RGD Reunion Gold Corp

0.67
0.00 (0.00%)
20 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
  0.00 0.00% 0.67 0.62 0.67 0 01:00:00

Reunion Gold Reports Further Drilling Results From its Matthews Ridge Manganese Project

17/09/2012 2:05pm

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.


As previously informed, the Company has concluded its planned drilling program
of bedrock mineralization, completing a total of 47,570 meters of diamond
drilling in 735 holes and 17,361 meters of reverse circulation drilling in 283
holes. Reunion has to date received complete assay results from 685 drill holes,
of which 571 were previously released. New results from 54 diamond drill holes
and 60 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 October 2012.


An independent consultant is currently doing the geological modeling of
manganese mineralization for the western half of the Project, covering Hills 5
to 9, while the database of the eastern half (Hills 4 to 1) is being readied,
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.


Reunion has also launched comprehensive programs to sample both the mineralized
tailings of the previous operation and the detrital cover of bedrock
mineralization already drilled. The tailings sampling is being done using a
manual Banka drill suitable for the wet conditions of the valley where the
tailings are deposited. The detrital material is being sampled by mechanized and
manual pits. One hundred pits have been already dug on the western half of the
Project, from Hills 5 to 9, and the average thickness of this material is
approximately 1.5 m.


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




                                 Table 1 (1)                                
                                                                            
----------------------------------------------------------------------------
             Target       Total                                             
Hole            hill  length (m)     Manganese Intersection     Grade Mn (%)
                                -------------------------------             
                                  From (m)    To (m) Length (m)             
----------------------------------------------------------------------------
                             Diamond drill holes                            
----------------------------------------------------------------------------
11MR0055         H5C       91.50     16.90     45.00      28.10        25.59
----------------------------------------------------------------------------
11MR1114         H9C       72.60     20.10     50.10      30.00        13.72
----------------------------------------------------------------------------
12MR1154          H6       42.80      0.00     18.90      18.90        12.19
----------------------------------------------------------------------------
12MR1170         H9E       58.80      4.60     26.10      21.50        20.08
                                --------------------------------------------
                                     28.65     43.90      15.25        17.63
----------------------------------------------------------------------------
12MR1183         H9C       63.90     26.70     60.60      33.90        16.85
----------------------------------------------------------------------------
12MR1187         H9C       55.40      0.00     14.20      14.20        16.29
----------------------------------------------------------------------------
12MR1193         H9C       35.90     15.90     30.20      14.30        19.30
----------------------------------------------------------------------------
12MR2048     H5E-EXT       74.30     26.50     44.60      18.10        14.58
----------------------------------------------------------------------------
12MR2049     H5E-EXT       83.00     34.50     83.00      48.50        13.80
----------------------------------------------------------------------------
12MR2050     H5E-EXT       67.60     35.90     67.60      31.70        15.35
----------------------------------------------------------------------------
12MR2051     H5E-EXT       42.30      0.00     36.00      36.00        18.83
----------------------------------------------------------------------------
12MR2057          H4       47.85      0.00     23.90      23.90        15.38
----------------------------------------------------------------------------
12MR2058          H4       62.10      0.00     15.60      15.60        20.74
                                --------------------------------------------
                                     43.00     62.10      19.10        13.30
----------------------------------------------------------------------------
12MR2060          H4       56.50     40.90     56.50      15.60        15.18
----------------------------------------------------------------------------
12MR2063          H4       53.40     32.65     53.40      20.75        14.35
----------------------------------------------------------------------------
12MR2070          H4       50.70     19.20     41.30      22.10        12.16
----------------------------------------------------------------------------
12MR2082     H5E-EXT      100.70     57.20     80.40      23.20        16.58
----------------------------------------------------------------------------
12MR2083     H5E-EXT       58.10     13.80     29.00      15.20        14.22
----------------------------------------------------------------------------
12MR2087     H5E-EXT       51.80      7.00     31.81      24.81        14.37
----------------------------------------------------------------------------
                       Reverse circulation drill holes                      
----------------------------------------------------------------------------
12MR3003         H5W       45.00     24.00     40.00      16.00        18.02
----------------------------------------------------------------------------
12MR3005         H5W       60.00     32.00     53.00      21.00        14.36
----------------------------------------------------------------------------
12MR3020         H5C       66.00      2.00     20.00      18.00        14.14
----------------------------------------------------------------------------
12MR3022         H9E       72.00     16.00     52.00      36.00        16.66
----------------------------------------------------------------------------
12MR3031         H9E       61.00     33.00     48.00      15.00        20.77
----------------------------------------------------------------------------
12MR3033         H9E       51.00     16.00     34.00      18.00        20.71
----------------------------------------------------------------------------
12MR3044         H9C       78.00     11.00     25.00      14.00        13.16
----------------------------------------------------------------------------
12MR3046         H9C       57.00      0.00     27.00      27.00        21.38
----------------------------------------------------------------------------
12MR3052          H8       40.00      0.00     31.00      31.00        14.14
----------------------------------------------------------------------------
12MR3055          H8       60.00     17.00     55.00      38.00        13.09
----------------------------------------------------------------------------
12MR3063          H8       51.00     29.00     45.00      16.00        12.66
----------------------------------------------------------------------------
12MR3064          H8       42.00     10.00     27.00      17.00        14.22
----------------------------------------------------------------------------
12MR3111          H3       57.00      0.00     14.00      14.00        13.93
----------------------------------------------------------------------------
12MR3140          H2       69.00      0.00     26.00      26.00        13.58
----------------------------------------------------------------------------
12MR3183          H1       80.00      0.00     14.00      14.00        13.77
----------------------------------------------------------------------------
(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. Drilling has been done to the
saprolite-fresh rock interface. The Company intends to define resources in the
saprolitic, detrital and tailings 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. 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 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 100 m below surface. 


Quality assurance and quality control

Diamond drilling was done using HQ-diameter casing and triple-tube core barrel
to maximize recovery. Half of the core was used for sampling at regular 1.5 m
intervals. Reverse circulation drilling was done with four-inch casing, sampling
at every meter and splitting the rock chips once in the field and processing an
entire half sample. Banka drilling of tailings is being done with six-inch
casing and sampling at every meter. Sampling of detrital material is being done
by 30 cm-wide vertical channel samples in pits. 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. Samples of tailings and detrital material are being
processed by a jigging plant operated by FILAB under the supervision of GMining
Services, as part of the metallurgical testing of mineralized materials.


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, 2 and 3 are available at the following link: 
http://file.marketwire.com/release/RGD_appendix_maps.pdf.


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