In less than 18 months from drilling the discovery hole, Rupert Resources (TSXV: RUP) has released its first resource estimate on the Ikkari gold deposit, part of its Rupert Lapland project in northern Finland.
The junior explorer says Ikkari has inferred resources of 49 million tonnes grading 2.5 grams gold per tonne for 3.95 million oz. of contained gold. The estimate included open pit and underground resources. Of the 3.95 million oz., 2.51 million oz. are designated as open pit and 1.44 million oz. as underground.
The estimate was based on 36,000 metres of drilling to the end of June.
The deposit, 30 km from the town of Sodankyla, remains open at depth and along strike and the company plans to drill a further 28,000 metres during the remainder of this year and 62,000 metres in 2022.
Highlights from infill drilling since the resource cut-off date at the end of June, have included 5.4 grams gold per tonne over 122.3 metres from 241.7 metres in hole 121070, including 16.9 grams gold over 11 metres from 286 metres and 10.6 grams gold per tonne over 10 metres starting 322 metres downhole.