Announcement Date: 2023-03-21
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Rupert Resources Ltd.
Project name: Ikkari
Location: Finland
Commodities: Gold
Highlight: Drilling results incl. 141m at 3.6g/t Au from 322m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: March 21, 2022 – Rupert Resources (“Rupert” or “The Company”) is pleased to report drilling from its 2022-23 exploration program at its multi-million ounce Ikkari gold discovery at the 100% owned Rupert Lapland Project in Northern Finland and provides further project updates. In November 2022, the company published a preliminary economic assessment (“PEA”) for the project demonstrates the potential for a 24-year life of mine (LoM) at an average annual production of 200,000 troy ounce (“oz”) gold. After-Tax Net Present Value (“NPV”) (5% discount) of $1.6 billion with unlevered Internal Rate of Return (“IRR”) of 46% and payback after two years, assuming a gold price of $1,650 per oz. An expected lowest quartile all-in sustaining cost (“AISC”) of $759/oz is outlined over LOM, and $596/oz during the open-pit operation. Low sensitivity to cut-off grade and low initial strip ratio is also detailed. (see November 28, 2022 press release and footnotes 1&2)
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