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Rupert Res Ltd (RUPRF) provides essential updates through this dedicated news hub for investors tracking the resource exploration and mining sector. Access official press releases and verified news covering operational developments, strategic partnerships, and technological advancements in commodity extraction.
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Rupert Resources has released its audited financial results for the fiscal year ending February 29, 2024. The company reported spending $31.52 million on exploration and property purchases, a slight increase from the previous year's $29.08 million. Rupert held $36.83 million in cash and equivalents, and recorded a net loss of $5.78 million, improving from the prior year’s $10.67 million loss. Key operational activities included ongoing exploration in the Rupert Lapland Project Area and Ikkari, with significant drilling programs and progress towards a Pre-feasibility Study (PFS) expected by the end of 2024.
Rupert Resources has reported significant assay results from its recent project drilling at the Ikkari deposit. The highlights include drill hole #124043, which intersected 120 meters at 6.2g/t gold, marking the third-best intercept to date at Ikkari. Additional notable results include 22 meters at 2.9g/t gold and 56 meters at 3.5g/t gold. Drill hole #124041 recorded 28 meters at 9.7g/t gold and 13 meters at 34.5g/t gold, including 1 meter at 294g/t gold.
The latest drilling results are part of an ongoing program aimed at enhancing the confidence in the approximately 4Moz Indicated Mineral Resource Estimate and providing data for metallurgical testing and advanced engineering studies. The project is advancing well with a prefeasibility study targeted for delivery in the second half of 2024. CEO James Withall emphasized the continuity and high-grade nature of the mineralization near the surface, which is favorable for open-pit mining.
Rupert Resources reports follow-up assay results from the Heinä South satellite target and project drilling at Ikkari. The new results extend the broader mineralized zone, with high-grade intercepts like 10.5g/t Au over 24.40m and 112.5g/t Au over 2m. Project drilling at Ikkari continues to provide exceptional width and grade continuity, increasing confidence in the ~4Moz Indicated Resource. CEO James Withall expressed excitement over the results, highlighting the potential for higher grades and continuous mineralization. The winter drilling campaign focused on exploration at Heinä South and project drilling at Ikkari to enhance the Mineral Resource Model and future engineering studies.
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