REBgold Announces Final Drill Holes Expand Strike and Confirms Continuity of Mineralization
Published : October 17, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

TORONTO, CANADA--(Marketwire - Oct. 17, 2012) - REBgold Corporation ("REBgold" or the "Company") (News - Market indicators) is pleased to announce that the final three drill holes for Phase 2 of the 2012 drill program at the Rantasalmi property of Osikonmaki East in Finland has been completed (JV with Belvedere Resources) (TSX VENTURE:BEL).

Highlights

  • BELOSI098 intersects 16.7m @ 2.2 g/t Au extending the HW zone to 200m downplunge from surface
  • BELOSI096 intersects 12.6 m @ 1.6 g/t Au defining up-dip limits to HW zone

Two holes BELOSI 96 and 98 were drilled in the eastern end of the Osikonmäki shear zone aimed at extending the high grade hanging wall zone discovered in 2011. BELOSI 097 was drilled to investigate one of the anomalies resulting from the recent geophysical survey and though it intersected shearing and sulphides did not contain significant gold. More drilling needs to be completed in this area given the lode nature of the mineralization and extent of the Geophysics anomaly.

Mark Burridge, Chairman, comments, "The 2012 drill program has been very successful in establishing the potential of the project. Areas of both high grade and bulk tonnage type mineralization have been defined and the system remains open along strike, at depth and in associated district structures with the geophysics helping to confirm this potential. While more work remains to be done, there is clearly potential for a significant mineralized system to be delineated."

        Au  
Hole_ID From To Interval (m) (g/t) GT
BELOSI096 29.73 36.16 6.43 0.77 5
BELOSI096 51.72 55.57 3.85 0.75 2.9
BELOSI096 61.11 73.7 12.59 1.65 20.8
including 61.11 65.77 4.66 1.43 6.7
including 69.59 73.25 3.66 3.71 13.6
BELOSI098 108.13 124.81 16.68 2.21 36.9
including 108.13 112.07 3.94 5.03 19.8
Including 119.41 124.81 5.4 2.84 15.3

Table 1: Intersections using a 0.5 g/t Au cut-off with a grade thickness (GT= grade x thickness) greater than 2 gram metres. No top cut is applied. Maximum grade is 16.05 g/t Au over 0.97m, one of four individual samples over 5 g/t Au. Intersections are estimated to be 70-90% of true width. BELOSI 97 returned no significant intercepts, although did contain anomalous levels of gold.

Hole ID Easting Northing Elevation Depth Azimuth Dip
BELOSI096 3564360 6883177 117.27 83.15 173 60
BELOSI097 3564400 6883391 114.63 70.3 0 55
BELOSI098 3564440 6883085 115.75 137.55 0 55
Table 2: Details of drill hole locations

The drilling was undertaken by Drillcon SMOY of Finland, providing 42 mm diameter core. Samples are comprised of half Diamond core. Intersections are estimated to be 70-90% of true width. No top cuts are applied with the highest individual assay being 47.8 g/t gold over 0.46 metres. Core samples are sawn in half on site, prepped and assayed by 30g fire assay with an AAS finish at the internationally accredited laboratories of ALS Chemex in Finland. The quality assurance- quality control (QAQC) program of Belvedere consists of the insertion of certified standards of known gold content every 20 samples, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process. Standards, blanks and duplicates make up approximately 15% of the samples assayed. The remaining half core is retained on site for verification and reference purposes.

In addition to drilling, several older holes, not previously used in the resource calculation were re-surveyed and re-assayed in order to be able to incorporate these in future resource modeling.

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company (including statements relating to future drilling and interpreted continuity of the new mineralized zones) are forward-looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements.

Qualified Person

The technical aspects of this statement have been prepared by Dr Toby Strauss (CGeol), Chief Operating Officer of Belvedere Resources Ltd, who is acting as a Qualified Person in compliance with National Instrument 43-101 with respect to this release. Dr Strauss has verified the data supporting this press release. Verification included checking the data to the original Laboratory certificates, examining photographs of the core, reviewing sampling procedures and reviewing the geological interpretation.

About Joint Venture with Belvedere (TSX VENTURE:BEL)

In 2011, REBgold and Belvedere Resources signed an Earn-In Agreement, whereby REBgold has the right to earn an interest in two of Belvedere's properties, Kiimala and Rantasalmi. REBgold can earn a 50% interest in the Properties by making expenditures of CDN $6M in a 4 year period. During the first year, REBgold spent CDN $1.5M on the Properties. After the earn-in has been completed a decision as to whether to proceed to a feasibility study will be made and, if REBgold elects, it will have a period of a further 2 years to complete the feasibility study. By completing the feasibility study, REBgold's stake would increase to between 55% and 75%, depending on the level of Belvedere's contribution to the study. A further 5% interest may be earned through the contribution of BACOX technology to the Projects. REBgold currently owns 14% of the projects.

REBgold PROFILE

REBgold is in the process of acquiring and developing economic interests in gold assets, in particular, where it can utilize its competitive advantages, to create shareholder value.

The Company's key competitive advantages include an experienced board and management team, strategic investor backing and proprietary technology. The Company's bacterial oxidation and bioleaching technologies are commercially proven for the liberation of precious metals from difficult-to-treat sulphide ores and concentrates, with environmental and economic benefits. To date, the Company's BACOX technology has been used at three gold mines located in Western Australia, Tasmania and China.

Shares outstanding 20,175,849

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 release.

REBgold Corporation
Bill Mitoulas
Investor Relations
416-479-9547
billm@reb-gold.com
or
REBgold Corporation
EJ Spencer
Corporate and Investor Relations Administrator
416-646-1850 X 242
ejspencer@reb-gold.com
Data and Statistics for these countries : Australia | Canada | China | Finland | Tasmania | All
Gold and Silver Prices for these countries : Australia | Canada | China | Finland | Tasmania | All

Rebgold

EXPLORATION STAGE
CODE : RBG.V
ISIN : CA7561832089
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Rebgold is a gold exploration company based in Canada.

Rebgold holds various exploration projects in Finland.

Its main exploration properties are KIIMALA and RANTASALMI in Finland.

Rebgold is listed in Canada. Its market capitalisation is CA$ 2.6 millions as of today (US$ 2.4 millions, € 1.7 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.02, and its highest recent level on December 03, 2010 at CA$ 1.50.

Rebgold has 20 176 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Rebgold
6/24/2013Closes Private Placement
6/1/2012Mobilizes Drill Rig And Closes First Tranche Of Private Plac...
5/8/2012Receives Lead Order for Private Placement and Proposes Share...
1/24/2012Extends Private Placement
Nominations of Rebgold
6/22/2012Appoints Director
Project news of Rebgold
9/26/2012(Rantasalmi)on Rantasalmi Gold Project
4/24/2012High Grade Gold Discovery at Osikonm=E4ki Prospect Confirmed...
2/28/2012New Drill Intercept of 9.6m averaging 10.0g/t Au within 55.5...
Corporate news of Rebgold
11/7/2013Aquila Resources & REBgold Corp. Announce Business Combinati...
4/16/2013Secures Funding for Business Development
10/17/2012Announces Final Drill Holes Expand Strike and Confirms Conti...
7/18/2012Provides Update on Activity
5/30/2012Shareholders of REBgold Approve Share Consolidation
4/18/2012Extends Terms of Convertible Debentures and Warrants
2/6/2012in the News
1/16/2012Resource Expansion Drilling Commences
12/5/2011Drill Rig Mobilized For Resource Expansion And Exploration D...
10/14/2011Extends Terms of Convertible Debentures and Warrants
10/11/2011Announces New NI 43-101 Resource Estimate for Finland Projec...
9/16/2011New High-Grade Gold Lode Discovered at Surface on Finnish Pr...
7/5/2011Additional Encouraging Results Announced on Finnish Asset un...
5/18/2011Further Positive Drilling Results Announced on Finnish Asset...
4/8/2011Issues Options
3/31/2011C:RBG REBgold 17,908,000-warrant extension
3/30/2011High Grade Drilling Results Announced on Finnish Asset under...
3/24/2011(Rantasalmi)Signs LOI with Belvedere on the Kiimala and Rantasalmi Gold ...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (RBG.V)
0.130+0.00%
TSX-V
CA$ 0.130
01/22 15:48 -
0%
Prev close Open
0.130 0.130
Low High
0.130 0.130
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.130 -%
Volume 1 month var.
700 -%
24hGold TrendPower© : 24
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.75-1.02%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.28-6.82%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.60+0.67%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.11+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.13-11.98%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.44-8.39%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26-7.14%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.32-5.88%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.95-10.14%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 57.69-8.60%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :