Reunion Gold announces the resumption of exploration activities at its projects in Guyana and French Guiana
LONGUEUIL, Aug. 13, 2020 - Reunion Gold Corp. (TSX-V: RGD) (“Reunion” or the “Company”) is pleased to announce the restart of field work at some of its gold exploration projects in Guyana and French Guiana. Activities for the remainder of 2020 are focused on advancing exploration at the Aremu North, Oko West and Boulanger projects.
Field work had been temporarily suspended at the end of March due to COVID-19 related travel restrictions and safety precautions, and the Company has implemented a number of new procedures to ensure the well-being of its staff, including the daily monitoring of temperature and blood oxygen levels, both onsite and during travel to and from projects, under the guidance of local medical consultants.
Aremu North is part of the Company’s Strategic Alliance with Barrick Gold Corp.. Field activities resumed in mid-July and include the completion of additional geochemical sampling and the restart of an approximately 2,000-meter trenching program. Trenching is testing four main prospects identified from an airborne magnetic and radiometric survey completed in Q4 2019, and subsequent geochemical sampling completed in Q1 2020. Depending on the results from this trenching program, a decision will be made to drill test certain targets in Q4 2020.
Oko West is part of a group of permits where Reunion has an option to solely acquire 100% of the ownership rights. Sampling carried out in Q1 of 2020 has defined a 2km long gold-in-soil anomaly that is coincident with a major north-south striking shear zone (see Figure 1) identified from an airborne geophysical survey (magnetic and radiometric survey completed in late 2019). This gold-in-soil anomaly is interpreted as the surficial expression of one or more basement-contact parallel structures that may represent the continuation of mineralized units intersected in diamond drilling by G2 Goldfields, located immediately north of the Oko West permits boundary. The Company is currently arranging a new camp and mobilizing heavy equipment to the project. It expects to complete a trenching program once the setup is complete, before initiating a 1,500-meter drill program in late-September.
The Boulanger project is located 60km by paved road to the south of Cayenne, the capital city of French Guiana. Following a recent suspension of activities that have allowed for a detailed review and reinterpretation of both the Company’s and historical data, field teams have returned to site during the first week of August. A roadcut sampling program along existing tracks that cross the prospect area is underway, along with drill site and access construction, in preparation for a 2,000-meter diamond drilling program planned to commence by the end of September.
At Boulanger, the priority is the advancement of the Crique Filon prospect, where activities aim to expand the potential footprint of gold mineralization interpreted as hosted in multiple parallel shear deformation zones that cross the southern portion of the project. Results from the planned drilling program are anticipated to be available by year-end.
Update on other projects
The Company is pleased to announce that the Dorlin Exploitation Permit (“PEX”) was renewed on July 30, 2020. The approval of the renewal application which was originally filed in 2015 has extended the validity of the PEX until July 31, 2020. In accordance with the French Mining Code, the filing of the concession application by the holder of the PEX on June 2, 2020 has the effect of extending the validity of the Dorlin PEX while the concession application is being processed. Subject to obtaining the required authorizations, the Company will be able to continue to work on the Dorlin Project in French Guiana.
The Company also announces that it has notified the permit holders of the Waiamu Project in Guyana of its decision to terminate the option agreement due to the disappointing results obtained from our exploration work. The Company will be writing off capitalized expenditures related to that project.
The technical information in this press release has been reviewed and approved by Justin van der Toorn, CGeol FGS, the Company’s Exploration Manager. Mr. van der Toorn 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 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) accepts responsibility for the adequacy or accuracy of this press release.
About Reunion Gold
Reunion Gold Corp. is a leading gold explorer with a portfolio of projects in the Guiana Shield, South America. The Company is well financed to complete its planned exploration work with the recent completion of a $6 million private placement. 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 on the Company’s website (www.reuniongold.com). For further information please contact:
Reunion Gold Corp.
R?jean Gourde, President & CEO
Paul Fowler, Manager, Corporate Development
Telephone: +1 450.677.2585
Figure 1: Oko West gold-in-soil anomaly, in relation to the permit outlines and recent drilling carried out by G2 Goldfields Inc. to the north of the project.