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RX4H1N1on Jan 08, 2012 10:48am
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Post# 19379856
2 RBG Projects - Chile and Finland
2 RBG Projects - Chile and Finland
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| REBgold is conducting bioleach test work on concentrates produced from Yamana Gold Inc's Jeronimo Gold Project in Northern Chile. REBgold had previously conducted some initial bioleach test work for Yamana on its Jeronimo project and initial positive results indicated further test work was appropriate. In the event that results are satisfactory to Project, Yamana will pay a 1% net smelter returns ("NSR") royalty to REBgold on gold production generated from REB gold technology at the Jeronimo Project. In the event that REBgold is able to acquire an equity interest in the project then the royalty would be decreased to a 0.5% NSR and the fees for the test work would be reduced. |
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On March 24, 2011, REBgold announced that it had signed an agreement to joint venture with Belvedere Resources on a select number of Belvedere's gold projects in Finland. REBgold has the option to spend $6M ($1.5M this year) on the properties over 4 years to earn a 50% interest. REBgold can increase their interest to between 55 and 75% by sole-funding a feasibility study, and another 5% by using REBgold's BACOX technology. Drilling for this season has been completed and positive results have been released. (Please refer to NI 43-101 Technical Reoprts dated October 2011)
| | Tonnes | Grade g/t | Ounces | Indicated Resources
Osikonmaki East
K1 (Kiimala)
Total Indicated | 1,296,000
3,850,000 | 1.7
1.19 | 68,000
147,000
215,000 | Inferred Resources
Osikonmaki East
Total Inferred | 3,542,000 | 2.1 | | Historical Resources
Oskionmaki West
Pirila
K3 (Kiimala)
Total Historical | 90,000
300,000
291,000 | 4.86
6.5
2.5 | 14,000
62,000
23,000
100,000 |
On November 21, 2011, REBgold completed the first tranche of a financing campaign and raised $1M by way of Private Placement. This will allow REBgold to continue their drill program on the Rantasalmi property.
BACKGROUND ON PROJECTS
The main mineralized structure in the Rantasalmi area is the Osikonmaki shear zone, a shear complex, at least 3km long, hosted by a Proterozoic aged (1.88 Ga) Tonalitic Intrusion. Most of the drilling to date has focused on the Eastern 800m of this shear (referred to as Osikonmaki East) where the mineralization is primarily asociated with a 45" south dipping shear zone between 4 and 30m thick. A series of higher grade chutes pitch at shallow angles across the plane of the main shear, plunging 20' to the ESE, contain the better part of the mineralization and extend for at least 600m down plunge. In addition, recent drilling has identified the presence of hanging wall mineralization, a portion of which is included in the current resource estimate. Beyond the main shear zone, potential exits for gold mineralization in associated structures as indicated by the high grade mineralization identified at Pirila.
The Kiimala project contains numerous paleoproterezoic gold occurrences in the form of an echelon vein system, two of which (K1 and K3) have been drilled sufficeintly to allow for the historical resource calculations.
MINING IN FINLAND
Finland has recently been ranked the #1 Country in the world for Mining (please see link to MyResources.com article dated September 28, 2011). Finland is a stable mining friendly country with a developed infrastructure and low power costs.
 Kiimala Technical Report 2011 (8.78Mb)
Rantasalmi Technical Report 2011.pdf (3.64Mb)
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