VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/23/13 -- Rapier Gold Inc. (TSX VENTURE: RPR) (the "Company") is pleased to announce the completion of the initial drill program on the Pen Gold Project. The Pen Gold Project comprises 16,448 hectares (approximately 160 sq km), 75 km south west of Timmins, in close proximity to the western extension of the Porcupine-Destor Deformation (Fault) Zone, one of the most productive gold structures in the world. Refer to Appendix 1.
Roger Walsh President and CEO said "We are delighted to have completed the first phase of our drilling on the Pen Gold Project. Logging of the core is proceeding well and we anticipate releasing initial results in mid-June. We will be flying a LIDAR survey on the south portion of Pen Gold Project and commencing a large scale mapping and prospecting program on the project now that snow has melted."
The drill program of thirteen holes, 4,350 m, focused on four key areas of the Pen Gold North Project (refer to Appendix 2 and Appendix 3 for maps of new holes):
-- Porphyry Hill Area. A new target area located approximately 4 km west of the Talc Mine.-- Midway Area. 300 m northeast of the historical drilling at the Talc Mine.-- Talc Mine Area. Rio Tinto Minerals completed fourteen diamond drill holes in this area, in 2008 and 2010, after gold was discovered in the vicinity of the talc mine. Refer to table below for details of Rio Tinto Minerals' previous drilling.-- Westgate Area. An area approximately 2 km north of the Talc Mine, where historical grab samples ran up to 4.8 g/t.
Summary of Rapier's drill holes:
This hole on the Porphyry Hill Area was planned to test underneath the 4.4 g/t grab sample assay from a quartz stringer taken during the summer of 2010 by Rio Tinto Minerals, and a 1.2 g/t channel sample from Rapier's fall 2012 program in the same vicinity. The drill hole was designed to test both the NE and WNW trending shear structures and veining and was ended at 213 m.
This hole was drilled at the Midway Area, 300 m north of the Talc Mine Area, to test the NE structure parallel to the mine access road and to reveal geological information inaccessible by surface methods under the swamp. It ended at 402 m near the property boundary.
PG13-103 to PG13-106
These four holes in the Talc Mine Area were designed to test two limbs of a fold structure interpreted from Rio Tinto Minerals' two previous exploration programs and ended at 357 m, 384 m, 288 m and 405 m respectively.
This hole, in the Talc Mine Area, was designed to test a possible fold nose of the carb rock zone and was ended at 363 m.
PG13-108 to PG13-110
These three holes in the Talc Mine Area tested areas without current surface information. They were ended at 405 m, 300 m and 318 m respectively.
This shorter hole, in the Talc Mine Area, was drilled to test mineralization further west of favourable geology encountered in hole PC13-105, and was ended at 201 m.
PG13-112 and PG13-113
These two holes were drilled in the Westgate area to test anomalous grab rock samples. They ended at 309 m and 411 m respectively.