LONGUEUIL, Quebec, June 22, 2020 (GLOBE NEWSWIRE) -- Reunion Gold Corporation (TSX-V: RGD) (the “Company”) is pleased to announce it has entered into a letter agreement under which a Surinamese private company has agreed to grant to the Company an option to acquire a mineral project in Suriname. The NW Extension Project, comprising three rights of exploration totaling 925 square kilometres, is located 60 kilometres to the west-southwest of Paramaribo and covers what is interpreted to be a continuation (based on interpretation of regional magnetic geophysical data) of the Paleoproterozoic greenstone belt covered by Tertiary and younger sediments. Historical bauxite exploration drilling within these sediments has indicated depths to the Paleoproterozoic basement in the range of less than 10 metres to more than 100 metres, in the south and north of the project area respectively.
Payments of $12,500 are due to the rights holder in the first and second year. Upon exercise of the option and transfer of the rights to the Company, the rights holder will retain a 0.25% net smelter royalty.
The NW Extension Project will give the Company the opportunity to initiate exploration in the attractive greenstone belt of Suriname, particularly within the Northern Greenstone Belt that is host to the Rosebel and Merian gold mines. Pending the lifting of travel restrictions in Suriname because of the COVID-19 pandemic, an initial exploration program is being planned that may include the compilation of available historical data, commencement of field mapping, and the execution of geochemical and geophysical surveys in high priority areas. Barrick Gold Corporation, who is entitled to include the project in the Alliance under the terms of the Strategic Alliance Agreement, will be reviewing the data in the coming weeks.
The technical information in this press release has been reviewed and approved by Justin van der Toorn, CGeol FGS, the Company’s Exploration Manager for Guyana and Suriname. Mr. van der Toorn is a qualified person under Canadian National Instrument 43-101.
New logo and website
The Company is pleased to announce the launch of a new logo and website which has been designed with a fresh new look and user-friendly navigation. We invite our shareholders to visit our new website at https://www.reuniongold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary statement
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, including statements about the conduct of exploration work on the NW Extension Project and other statements relating to technical and historical data. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of our management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements except as required by law.
About Reunion Gold
Reunion Gold Corporation is a leading gold explorer with a portfolio of projects in the Guiana Shield, South America. The Company’s shares are listed on the TSX Venture Exchange under the symbol ‘RGD’. Additional information about the Company is available on SEDAR (www.sedar.com) and on the Company’s website (www.reuniongold.com). For further information please contact:
REUNION GOLD CORPORATION
Réjean Gourde, President & CEO
Paul Fowler, Manager, Corporate Development
Telephone: +1 450.677.2585
Email: info@reuniongold.com
