Up To 99.5% Recoveries From Preliminary Metallurgical Work On Ikkari Discovery

TORONTO - Rupert Resources today reported the results of preliminary metallurgical test work on two representative samples from the Ikkari Discovery, part of its 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland. The results showed that up to 99.5% of gold could be recovered using conventional processing methods.

Highlights: Initial recoveries of 94 to 97% using a conventional gold extraction process; Up to 51% gravity recoverable gold content; Regrind of flotation concentrate resulted in total gold extraction of over 99%; Low to moderate grinding work index and low reagent consumption; Acid mine drainage tests indicate that the host lithology is naturally neutralizing; and Results from process optimization work expected in Q1 2021.

James Withall, CEO, said “The testwork reported today was undertaken as part of our systematic plan to fully understand the economic potential of the Pahtavaara Project. These metallurgical results are another indication of the favorable technical characteristics and growing economic attractiveness of the new Ikkari discovery. We continue to work on expanding the mineralized envelope at Ikkari and the onset of winter conditions is now allowing drilling of areas which have not been accessible since the discoveries of Heina South and Ikkari earlier in the year.”

Test work was undertaken by ALS metallurgical services in Perth, Western Australia, on two representative high and lower grade samples from Ikkari. Sample A from drill hole 120061 (290-303m) was located on an eastern section of Ikkari within a mafic/ultramafic host rock with a grade of 40g/t gold. Sample B from drill hole 120067 (144-157m), was located on a western section of Ikkari within a felsic sediment host rock with a grade of approximately 2.4g/t gold.