Reunion Gold Announces Financial Results for the Second Quarter Ended September 30, 2011 and Update on Exploration Projects
29 Novembre 2011 - 2:30PM
Marketwired
Reunion Gold Corporation (TSX VENTURE:RGD) (the "Company")
announces that its unaudited interim consolidated financial
statements and management's discussion & analysis for the
second quarter ended September 30, 2011 have been filed on SEDAR
(www.sedar.com) and are available on the Company's website at
www.reuniongold.com.
Matthews Ridge Manganese Project, Guyana
The Company is pleased to provide an exploration update on its
100%-held Matthews Ridge Manganese Project. A total of 122 trenches
have been dug to date, with 13,791 meters excavated on Hills 1 to
9. All trenches completed so far are showing manganese
intersections, indicating a potential strike of approximately 15
kilometers. A total of 5 trenches on Hill 1 remain to complete the
initial trenching program. Diamond drilling is also progressing,
with 7 rigs currently at work. A total of 25,471 meters has been
drilled in 376 holes, including 64 holes (approximately 4,000 m)
which were re-drilled as a result of initial poor core recovery. On
September 30, 2011, the Company had released assay results for
samples taken from the trenches and drill holes received at the
time. Analytical results from the balance of the trenching and
drilling completed are still pending.
The Company has budgeted to spend approximately $25 million
between April 1, 2011 and March 31, 2012 at Matthews Ridge. The
budget includes up to 90,000 meters of drilling, as well as the
purchase of capital assets, including earthmoving and laboratory
equipment. The Company's objective is to complete a NI
43-101-compliant resource estimate by mid-2012.
Qualified Person
Francois Viens, P.Eng, a qualified person under NI 43-101, has
approved the technical data related to the Matthews Ridge project.
Mr. Viens is an independent consultant to the Company.
Lely Gold Project, Suriname
The Company has recently completed a follow-up program of stream
sediment sampling at the Lely gold project in Suriname. The
objective of the program is to confirm the results from the
exploration program conducted by the Company in 2008 and extend the
sampling around the entire Lely Plateau to determine if other
drainages adjacent to the plateau contain elevated gold and arsenic
values. A total of 114 samples were collected and assay results are
pending. Exploration at the Lely gold project was suspended in
October 2008 due to the Company's limited financial resources.
Qualified Person
The technical information about the Lely Gold Project was
approved by Adrian Fleming, MAIG, RPGeo, MAusIMM. Mr. Fleming, a
consultant to Reunion Gold, is responsible for supervising the Lely
exploration program and is a qualified person under NI 43-101.
About the Company
The Company is a mineral exploration company focused on the
acquisition, exploration and development of mineral properties in
the Guyana Shield of South America. The Company, through its 100%
indirectly owned subsidiary Reunion Manganese Inc., has assembled a
large, strategic land position to conduct exploration and
development activities for manganese in the North West District of
Guyana. The Company also has the right to acquire a 100% interest
in a gold exploration project located in the Lely Mountain area in
Eastern Suriname, subject to a 20%.
Additional information about the Company is available on SEDAR
at www.sedar.com and at www.reuniongold.com.
Forward Looking Statements
The information in this press release has been prepared as at
November 29, 2011. Certain statements contained in this press
release constitute forward looking information under the provisions
of Canadian provincial securities laws. Such statements include
statements regarding results of exploration, including trenching,
drilling, geophysical exploration and stream sampling, as well as
the Company's objective of delineating a NI 43-101 resource at
Matthews Ridge. Such statements reflect the Company's views as at
the date of this press release and are subject to certain risks,
uncertainties and assumptions, and undue reliance should not be
placed on such statements. Many factors, known and unknown could
cause actual results to be materially different from those
expressed or implied by the forward looking statements. Such risks
include, but are not limited to: the possibility that the results
of exploration will not be successful and that the Company will not
be able to calculate a NI 43-101 resource within the expected time
frame. The Company does not intend, and does not assume any
obligation, to update this forward-looking information, except as
required by law. Accordingly, readers are advised not to place
undue reliance on forward-looking statements.
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.
Contacts: Reunion Gold Corporation James Crombie President and
Chief Executive Officer 450.677.2585 450.677.2601
(FAX)info@reuniongold.comwww.reuniongold.com
Reunion Gold (TSXV:RGD)
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