Vancouver, BC - Rapier Gold Inc. (TSX-V: RPR)
(the "Company") is pleased to provide the following progress update from the 2017 exploration field program on the Pen Gold Project.
The 2017 exploration field season included an extensive program of mapping and prospecting. The objective was to enhance Rapier's geological model and develop drill targets.
The program commenced in late May and concluded on October 14, 2017. A total of 561 person-days were spent in the field and 1,826 grab samples were taken. A LIDAR survey was flown over approximately 53 square kilometers. LIDAR imagery is used to locate outcrops and to plot field traverse locations. A list of the sampling results is provided in Appendix 1 and a map of sample locations and anomalous samples (60 samples > 50 ppb Au) is shown in Appendix 2.
All known anomalous samples on the project are shown in Appendix 3.
In addition to the field program, new claims were staked adding a total of 2,304 hectares to Rapier's land holdings. Appendix 4 shows the location of the new claims.
During the 2017 field season, the return of results from laboratory analysis of grab samples was subject to significant delays. As a result, planned follow-up activities including overburden stripping and preliminary drill targeting could not be completed.
All analyses are expected to be returned before year end. Data interpretation and future exploration planning will commence early in 2018.
Quality Assurance -- Quality Control ("QA/QC")
Industry best practices are followed on the project including the routine insertion of blank and standard samples in all grab samples. The samples are submitted directly to Actlabs in Timmins for preparation and analysis. Gold analyses are conducted on 1 assay-ton aliquots, using fire assay methods with an atomic absorption finish up to 5 g/t Au and with a gravimetric finish above.
Gary Wong, P.Eng., Vice-President Exploration of the Company, a Qualified Person under the definition in National Instrument 43-101, has reviewed and approved the technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
David Lotan, Interim CEO
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 news release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.