RE:RE:RE:RE:News out this morning-RUPThis was the excerpt I was talking about-geology knows nothing about line in the sand?
James Withall's Rupert Resources Ltd. (RUP) leapt 36 cents to $5.26 on 144,000 shares on word that it has hit a 103-metre interval averaging eight grams of gold per tonne at its Ikkari discovery on the Rupert Lapland project in northern Finland. This infill hole is a new high for the company, which now has several long hits of higher-grade gold since it rolled out a maiden resource estimate last year. A 122.3-metre encounter averaged 5.4 grams per tonne while two others, spanning just over 100 metres each, returned between 3.5 and 3.8 grams per tonne.
Mr. Withall, CEO, says that the infill drilling continues to consolidate grade and ounces through the intersection of significantly broad intervals of high-grade gold mineralization, hits that are "likely to have a positive impact on the economics of the project." The winter drilling, he cheers, "is building momentum with more rigs turning at Ikkari," as well as at other target areas with "potential to deliver further discoveries of scale" -- big hits, in other words.
Mr. Withall and his crew rolled out a maiden resource estimate for Ikkari late last summer, delineating an open-pittable inferred resource of 30.53 million tonnes averaging 2.6 grams of gold per tonne, with a further 18.8 million tonnes inferred underground at 2.4 grams per tonne, bringing the full ounce count just shy of four million ounces.
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