RPX Gold drills 19.68m at 6.24 g/t gold at Wawa project
The Ontario results add mineralization between proposed pits as RPX prepares a prefeasibility study for the first half of 2027.
Mara Quinlan
RPX Gold Inc. CVERPX OTCMKTSRDEXF reported on Tuesday that drilling at its Wawa Gold Project in Ontario returned 19.68 metres at 6.24 grams per tonne gold. The batch adds mineralization between the proposed pits as drilling, about 90 per cent complete, feeds a prefeasibility study targeted for the first half of 2027.
Shares closed higher at C$0.15 on the TSX Venture Exchange at 4 p.m. EST on Nov. 2, according to CVERPX, before Tuesday's release.
The Nov. 3 release reports assays from 11 holes totalling 1,845 metres at the project. The best interval came from hole SD-26-721 in the Central area, starting 59.64 metres downhole.
The interval includes 0.90 metres at 50.70 grams per tonne gold. All reported intervals are core lengths; RPX estimates true widths in the Jubilee Shear at 50 to 95 per cent of those lengths.
"Today's results, together with previously reported high-grade results in the South Pit area, indicate that tighter drill spacing continues to identify additional high-grade gold zones within the pit design," chief executive Michael Michaud said in the release.
RPX is testing gaps within the open pits outlined in its preliminary economic assessment, as well as ground between the North and South pits where drilling is insufficient to model near-surface resources. The program also aims to convert inferred resources to indicated resources within the PEA mine plan.
A South Pit intersection returned 5.67 metres at 18.49 grams per tonne gold. Its higher-grade section ran 0.90 metres at 109.00 grams per tonne.
In an area with underground potential, drilling returned 20.93 metres at 3.15 grams per tonne gold. RPX says the program is collecting grade-validation, metallurgical and geotechnical data in the underground mine plan's 65 and Pango areas.
The assay table uses a cut-off of 0.40 grams per tonne gold and permits up to 6.0 metres of internal dilution. No capping was applied to the reported intervals.
Michaud said RPX is evaluating whether higher-grade material could improve the mill feed delivered to a toll mill during initial open-pit development. The next exploration phase will target intersections between the Jubilee Shear and crosscutting structures north and south of the Jubilee deposit.
The company says its updated geological model points to potential higher-grade gold at those structural intersections. Follow-up drilling will also test exploration targets outside the current mineral resource, while results from the ongoing program will feed an updated estimate supporting the prefeasibility study.
Read more: Tectonic Metals drills 41.15m at 5.61 g/t gold at Black Creek
RPX expects to complete the 20,000-metre drilling program by mid-November.
