Figure 1
Figure 2
Figure 3
Figure 4
Highlights
- Results from shallow infill drilling continues to hit the target area extending the current high-grade core zone at RPM to surface with significant broad intercepts grading > 5 g/t Au.
- High-grade gold intersections targeting near surface mineralization above the current high-grade Measured and Indicated core continue at RPM North with all holes ending in mineralization. Significant results include (Table 1 and Figures 1 to 4):
| | RPMRC-24016 | ||
| | 39m @ 5.4 g/t Au from surface including; | ||
| | 25m @ 8.2 g/t Au from surface | ||
| | 20m @ 10.2 g/t Au from 5m | ||
| | 12m @ 15.3 g/t Au from 12m | ||
| | 11m @ 16.4 g/t Au from 12m | ||
| | RPMRC-24015 | ||
| | 26m @ 3.7 g/t Au from surface including; | ||
| | 18m @ 4.8 g/t Au from 8m | ||
| | 5m @ 14.0 g/t Au from 19m | ||
| | RPMRC-24009 | ||
| | 46m @ 1.9 g/t Au from 1m including; | ||
| | 39m @ 2.1 g/t Au from 1m | ||
| | 24m @ 2.8 g/t Au from 1m | ||
| | 2m @ 14.4 g/t Au from 7m | ||
| | RPMRC-24012 | ||
| | 38m @ 1.9 g/t Au from 3m including; | ||
| | 33m @ 2.1 g/t Au from 3m | ||
| | 17m @ 2.7 g/t Au from 11m | ||
| | 5m @ 5.8 g/t Au from 22m | ||
- All drill holes end in gold mineralization.
- Assay results from 6 remaining holes from the 2024 drill program at RPM to follow.
- Assay results from the over 500 soil and 225 rock samples collected as part of the extensive 2024 surface exploration and mapping program targeting gold, antimony and other critical minerals from traverses at Stibium, Wombat, West Wing, Stoney, Muddy Creek, RPM, Styx, and the new claims added in 2023, will be reported by area once received and processed.
- Resource update including both the 2023 and 2024 drill results to be completed once all results are received.
- RPM starter mine Feasibility Study (FS), and updated economic study of the Estelle wide project in progress, with the aim to commence with a smaller scale, low capex, high-margin starter mine at RPM as soon as possible, which will provide cashflow to fund the expansion of the larger Estelle project organically.
- Whittle Consulting engaged to complete project optimization, METS Engineering engaged to complete metallurgical and process design work, and Roughstock Mining engaged for pit and engineering design.
More 2024 drill results are pending and once all received we will begin work on the resource update. We look forward to updating all stakeholders on these fronts as we continue to progress on our path towards production and early cashflow at RPM within the greater Estelle gold and critical minerals district.”
RPM Drilling Discussion
A total of 21 RC holes were drilled at RPM as part of the 2024 drilling program, of which assay results for 15 holes have now been received, with seven holes reported in this announcement, and 8 holes reported in the announcement dated 9 October 2024. The drilling was focused on near surface mineralization <50m in depth and had two main objectives.
- The first and primary objective was to infill and prove up near surface inferred resources that define the up dip extension of the steep to vertical dipping RPM North high-grade core zone. A new drill pad (Pad 24-1) was located between the two previous drill pads (Pad 1 and Pad 23-1) at RPM North to fill this data gap and prove up this high-grade material. Assay results from Pad 24-1 including holes RPMRC-24005 to RPMRC-24008 announced previously, and now holes RPMRC-009 and RPMRC-011 to RPMRC-016 continue to support this objective.
- The secondary objective of the shallow 2024 drill program was to extend drilling to the South and Southwest of the current RPM North resource to begin to test a potential link with the RPM Valley zone situated approximately 150m to the Southwest. Highly prospective mineralized intrusive rocks have been observed in this area in recent geological mapping and confirmed with anomalous surface sample results. The results returned from previously announced holes RPMRC-24001 to RPMRC -24004 indicate the RPM North deposit remains wide open to the South-Southwest and is potentially connected to the RPM Valley zone (Figure 1). This warrants further follow-up diamond drilling to test the considerable resource upside potential.
Geological observations also indicate the mineralized intrusive unit is a steeply dipping funnel shaped body which flares out to have a wider footprint near the surface where substantial up-dip potential remains.
In the central core zone where the intrusive unit is thick and continuous the deposit remains wide open with further significant resource upside potential, up-dip, down-dip, and throughout the intrusive, particularly to the South which remains largely untested by drilling.
The majority of the holes drilled in 2024 were collared in granodiorite intrusive rocks, the primary host of mineralization at RPM. The granodiorite-hornfels contact was intercepted to the north from Pad 24-1 and to the south from Pad 23-1 where gold mineralization is encountered in both the intrusive and the hornfels. The drillhole intersections as well as observed outcrop between these two drill pads consist entirely of granodiorite crosscut by quartz-tourmaline-sulfide veins, with massive quartz zones of over 1-m thick hosting samples up to 291 g/t Au. The holes announced in this release covered southeast (145) to southwest (250) azimuths and were comprised entirely of the mineralized granodiorite intrusive with the exception of the bottom 15 meters of hole RPMRC-016 which ended in mineralized hornfels.
Figure 1. RPM North plan view with all drill holes to date
Figure 2. RPM North Section A-A'_250azi showing continuity of mineralization
Figure 3. RPM North Section B-B'_220azi showing continuity of mineralization
Figure 4. RPM North Section C-C'_145azi showing continuity of mineralization
Table 1. Significant intercepts*
| Hole_ID | From (m) | To (m) | Interval (m) | Au g/t |
| RPMRC-24009 | 1 | 47 | 46 | 1.9 |
| including | 1 | 40 | 39 | 2.1 |
| 1 | 25 | 24 | 2.8 | |
| 7 | 9 | 2 | 14.4 | |
| RPMRC-24011 | 2 | 20 | 18 | 2.6 |
| including | 14 | 21 | 7 | 3.3 |
| RPMRC-24012 | 3 | 41 | 38 | 1.9 |
| including | 3 | 36 | 33 | 2.1 |
| 11 | 28 | 17 | 2.7 | |
| 22 | 27 | 5 | 5.8 | |
| RPMRC-24013 | 0 | 34 | 34 | 1.4 |
| including | 14 | 34 | 20 | 1.5 |
| RPMRC-24014 | 0 | 24 | 24 | 2.1 |
| including | 3 | 8 | 5 | 3.0 |
| 16 | 25 | 9 | 2.6 | |
| RPMRC-24015 | 0 | 26 | 26 | 3.7 |
| including | 8 | 26 | 18 | 4.8 |
| 19 | 24 | 5 | 14.0 | |
| RPMRC-24016 | 0 | 39 | 39 | 5.4 |
| including | 0 | 25 | 25 | 8.2 |
| 5 | 25 | 20 | 10.2 | |
| 12 | 24 | 12 | 15.3 | |
| 12 | 23 | 11 | 16.4 |
Table 2. Drill hole details
| Hole_ID | UTM_E | UTM_N | ELEV (m) | EOH (m) | AZI | DIP | Assays |
| RPMRC-24001 | 501995 | 6848795.9 | 1772 | 31 | 180 | -45 | Reported 9/10/24 |
| RPMRC-24002 | 501991 | 6848802.8 | 1772 | 48 | 270 | -60 | Reported 9/10/24 |
| RPMRC-24003 | 501992 | 6848801 | 1771 | 42 | 210 | -60 | Reported 9/10/24 |
| RPMRC-24004 | 501993 | 6848802 | 1773 | 34 | 0 | -90 | Reported 9/10/24 |
| RPMRC-24005 | 501955 | 6848871 | 1743 | 45 | 70 | -60 | Reported 9/10/24 |
| RPMRC-24006 | 501955 | 6848869.6 | 1744 | 23 | 100 | -50 | Reported 9/10/24 |
| RPMRC-24007 | 501954 | 6848868.4 | 1746 | 16 | 130 | -50 | Reported 9/10/24 |
| RPMRC-24008 | 501954 | 6848868.7 | 1742 | 47 | 0 | -90 | ()[\]\\.,;:\s@\"]+)*)|(\".+\"))@((\[[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\])|(([a-zA-Z\-0-9]+\.)+[a-zA-Z]{2,}))$/;return b.test(a)}$(document).ready(function(){if(performance.navigation.type==2){location.reload(true)}$("iframe[data-lazy-src]").each(function(b){$(this).attr("src",$(this).attr("data-lazy-src"))});if($(".owl-article-body-images").length){$(".owl-article-body-images").owlCarousel({items:1,loop:true,center:false,dots:false,autoPlay:true,mouseDrag:false,touchDrag:false,pullDrag:false,nav:true})}var a=$("#display_full_text").val();if(a==0){$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:$("#cms_article_id").val()},dataType:"json",success:function(b){},error:function(b,d,c){}})}$(".read-full-article").on("click",function(d){d.preventDefault();var b=$(this).attr("data-cmsArticleId");var c=$(this).attr("data-productId");var f=$(this).attr("data-href");dataLayer.push({event:"paywall_click",paywall_name:"the_manila_times_premium",paywall_id:"paywall_article_"+b});$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:b,productId:c},dataType:"json",success:function(e){window.location.href=$("#BASE_URL").val()+f},error:function(e,h,g){}})});$(".article-embedded-newsletter-form .close-btn").on("click",function(){$(".article-embedded-newsletter-form").fadeOut(1000)})});$(document).on("click",".article-embedded-newsletter-form .newsletter-button",function(){var b=$(".article-embedded-newsletter-form .newsletter_email").val();var d=$("#ga_user_id").val();var c=$("#ga_user_yob").val();var a=$("#ga_user_gender").val();var e=$("#ga_user_country").val();if(validateEmail(b)){$.ajax({url:"/ajax/sendynewsletter",type:"POST",data:{email:b},success:function(f){$(".article-embedded-newsletter-form .nf-message").html(f);$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000);dataLayer.push({event:"newsletter_sub",user_id:d,product_name:"newsletter",gender:a,yob:c,country:e})},error:function(f,h,g){}})}else{$(".article-embedded-newsletter-form .nf-message").html("Please enter a valid email address.");$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000)}});$(document).on("click",".article-embedded-newsletter-form .nf-message",function(){$(this).removeClass("show");$(this).html("")});
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