Nov 15 2013
Rupert Resources Ltd. ("Rupert" or "the Company") announces results of its summer 2013 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. Please see www.rupertresources.com.
The exploration program consists of both 3D and 2D induced polarization ("IP") and ground magnetic surveys in conjunction with geological mapping and litho-geochemical sampling work. The 3D survey was conducted with Abitibi Geophysics' IPower3D system, which is a true 3D array resistivity/IP topographical imaging survey of the deeper targets.
A total of six anomalous trends are interpreted - Three Strong to Very Strong IP anomalies are identified on the North grid. By far, the two strongest anomalies are GCN-03 and GCN-05, located south of tie line +750S, in an East-West direction. These anomalies have both the chargeable and low resistivity (conductive) signatures indicative of mineralization associated with a contact boundary. They seem to correspond well with a contact zone of complexly folded and faulted conglomerate and Balmer mafic metavolcanic. In addition to this contact zone, the source for these anomalies may also be the Balmer metavolcanics- as evidenced by a combination of the appearance of an extension of these anomalies at further depth and a superimposition of the anomalies onto the lithological map.
The strength and size of the chargeability anomalies suggest that their source is deeper than the anomalies themselves. However, limited vertical extent of this 3D IP survey prevents further vertical extrapolation to the causative source body beyond the maximum depth of 700 meters. The existence of these chargeability anomalies is supported by an association with a sulphidized conglomeratic unit observed in one outcrop in the anomalous area.
FGC Inc, who conducted the geological field work and supervised the IP and Mag surveys on behalf of Rupert for this program, recommends that these anomalies and their potential source be further tested by diamond core drilling. A program of three holes totalling 2,400 meters would be designed to test the mineralization of the most prominent anomalies (GCN-03 and GCN-05) while also drilling into the Balmer metavolcanics, which potentially occurs just below the lower extent of the IP interpretation of these targets.
Rupert wishes to thank the management of Conquest Resources Limited for supporting this exploration effort by allowing the ground IP grid to overlap onto Conquest's patents at the boundary between the two properties.
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 Balmer 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