RGD:CC - InvestorNewsBreaks - Reunion Gold Corporation (TSX.V: RGD) (OTCQX: RGDFF) Reports on Annual Meeting Results Releases Pit-Constrained Mineral Resource Estimate
Reunion Gold (TSX.V: RGD) (OTCQX: RGDFF) is reporting on its recent Annual General and Special Meeting of Shareholders, which was held June 13, 2023. During the meeting, shareholders elected nine individuals to serve on the company's board of directors. Those individuals are David Fennell, Rick Howes, Elaine Bennett, Pierre Chenard, Richard Cohen, Adrian Fleming, Réjean Gourde, Vijay Kirpalani and Fred Stanford. Shareholders also approved the reappointment of Raymond Chabot Grant Thornton LLP as auditors and voted to continue the company’s amended and restated share option plan. In addition, shareholders approved a by-law including advance notice provisions related to the nomination of directors of the company and a special resolution authorizing an amendment of the articles of the company to consolidate both issued and outstanding common shares of the company at a ratio of between three and seven preconsolidation common shares for every one postconsolidation common share; the timing of that will be determined by the board of directors. Reunion Gold also noted that the option agreement between the company and the titleholder of the Boulanger Project mining concessions was amended to extend the period that the company may exercise the option to acquire a 100% interest in the project.
In addition, Reunion Gold is reporting on an initial Mineral Resource Estimate (“MRE”) at the Kairuni zone on its Oko West Project in Guyana. Effective June 1, 2023, the MRE consists of 2.475 moz. Au in indicated mineral resources grading 1.84 g/t Au, and 1.762 Moz. Au in inferred mineral resources grading 2.02 g/t Au. Gold mineralization at the zone remains open at depth, with high-grade zones already demonstrated beneath the open pit constrained MRE in Block 4. The announcement noted that the MRE confirmed a distinct high-grade gold mineralized domain within Block 4, parallel to the Footwall Granitoid. The company is planning to expand portions of the infill and expansion drilling program at the zone. “Today’s maiden resource confirms Oko West as a quality multimillion-ounce gold discovery with potential for further growth,” said Reunion Gold CEO and president Rick Howes in the press release. “Thanks to our exploration team’s hard work, in just 22 months of drilling, we have outlined a sizeable resource containing 60-to-100-meter thick saprolite cover, good grade continuity over a 70 meters average thickness to a depth of over 600 meters and with grades well above industry average. Further work is planned to both grow and infill this maiden MRE, which remains open to further expansion, particularly at depth. In addition, we continue to explore several other promising targets on our prospecting license including the Bryan, Takutu and Carol zones. In parallel with the exploration programs, we intend to rapidly advance this exciting new discovery and plan to release a preliminary economic assessment in the fourth quarter. We are pleased with this early success, and we believe we have one of the best advanced exploration stage gold projects due to its size, grade, straightforward metallurgy, further potential and favorable jurisdiction.”
To view the full press releases, visit https://ibn.fm/2N2oc and https://ibn.fm/afcCH
About Reunion Gold Corporation
Reunion Gold Corporation is a leading gold explorer in the Guiana Shield, South America. In 2021 the company made an exciting new gold discovery at its Oko West project in Guyana, where to date it has outlined continuous gold mineralization at the Kairuni zone over 2,000 meters of strike and to a depth of 600 meters. The mineralization appears to be open-pit amenable with a strong grade profile. In addition to Kairuni, there are several additional priority exploration targets on the Oko West project area that the company is exploring. For more information about the company, please visit www.ReunionGold.com.
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