TORONTO, ONTARIO--(Marketwired - July 18, 2013) - Rupert Resources Ltd. ("Rupert" or "the Company") (News - Market indicators) announces the commencement of the 2013 Summer exploration program consisting of geological and geophysical surveys on its Gold Centre Property (the "Property") in the prolific Red Lake gold camp. The property is located adjacent to the producing Red Lake Mine of Goldcorp.
The intention of this program is to obtain a better geological understanding of the property by integrating newly acquired information from the current exploration program as well as historical geological data compilations illustrating gold bearing structures. The current exploration program is intended to identify priority drill targets of economic potential based on the results of both historic and newly obtained information.
The current exploration program consists of both 3D and 2D induced polarization ("IP") and ground magnetic surveys in conjunction with geological mapping and lithogeochemical sampling work. The 3D survey will be conducted with Abitibi Geophysic's IPower3D system which is a true 3D array resistivity/IP topographical imaging survey of the deeper targets. The system uses a high-sensitivity array and is coupled with a high density sampling technique resulting in potentially penetrating greater depth of investigation and excellent spatial resolution. This IPower3D system will be utilized for imaging of the Balmer Volcanics in the northern portion of the property. The 2D dipole-dipole IP and ground magnetic surveys will be conducted in the southeastern part of the property where a historic dill hole intersected anomalous gold mineralization at relatively shallower depth within the younger Confederation Lake assemblage.
Previous drilling has interpreted the extension of the Cochenour-Dickenson Deformation Zone to intersect the southeast part of the property. Further work may include geophysical surveys of historical drill holes on the property using modern technology that was previously unavailable, as well as re-logging of existing drill core.
About the Gold Centre Property
The Gold Centre property is located adjacent to the eastern boundary of Goldcorp Inc.'s producing Red Lake Mine in Northwestern Ontario. It is located approximately 9.5 km east-northeast of the Town of Red Lake in the Balmer Township. The property (CLM 165) is comprised of 16 claims, totalling 625.33 acres, was renewed as Lease No. 106899 on December 1, 1994 and is valid for 21 years. Rupert owns a 100% interest in the lease, subject to a 1.5% Net Smelter Return reserved to Camp McMan Red Lake Gold Mines Limited.
Geologically, the property is located within the economically important Balmer mafic metavolcanic and Huston metasedimentary (coarse to fine clastics) assemblages of the Red Lake greenstone belt. Mafic metavolcanic rocks exposed at the northern edge of the property are believed to represent the Balmer assemblage, host rock for the mineralization at the adjacent Goldcorp's Red Lake Mine. The Balmer assemblage, more specifically the Balmer mafic metavolcanic rock, is the primary target of the current geophysical IP and geological surface work programs. The central part of the property is underlain by mainly clastic metasedimentary rocks of the Huston assemblage disconformably which overly the Balmer assemblage. Historical drilling within the central property area, on strike to Red Lake Mine deposit trends, has intersected the favourable Balmer mafic metavolcanic rock at depth. The southern part of the property is underlain by intermediate to felsic metavolcanic rocks of younger Confederation assemblage.
Sulphide mineralization has been observed in the overlying sedimentary rocks and semi-massive to narrow intervals of massive pyrrhotite have also been observed in the quartz-pebble conglomerates on the Property. In addition, anomalous gold values hosted by quartz veins in the favourable Blamer mafic metvolcanics have been intersected in the deep drilling.
Ike Osmani, MSc, P.Geo., a principal geologist of FGC Inc. and the Qualified Person ("QP") for the Gold Centre Project has reviewed and approved the technical content of this news release
ON BEHALF OF THE BOARD
M. Kostuik, President and CEO
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