Reunion Gold Corporation (TSX-V:RGD, OTCQB:RGDFF) has announced drill results from its Oko West property in central Guyana that, once again, expand the known mineralization at the Block 4 zone, broker Stifel GMP said in a note as it kept its ‘Buy’ rating and C$0.60 price target on the stock.
Analysts at the US brokerage noted that assay highlights include 11.04 grams per tonne (g/t) over 40 metres (m), 1.32 g/t over 121m, and 0.93 g/t over 61m.
“Some results from Block 4 extend mineralization approximately 970m below surface, while others suggest the presence of structurally controlled high-grade shoots along foliation,” the analysts wrote.
“Drilling in other blocks along strike continued to show wide zones of mineralization extending from surface but with slightly lower grades,” they added.
READ: Reunion Gold says it continues to have 'success through the drill bit' as it announces additional drill results at Oko West
The Stifel analysts also noted that Reunion Gold is targeting a maiden resource in mid-2023 and that the company ended September with C$52 million in cash.
“We expect the results from Block 4 to provide a significant amount of ounces given the continuity of high-grade intercepts reported,” the analysts said.
Reunion Gold is a leading gold explorer in the Guiana Shield in South America. In 2021, the company made an exciting new gold discovery at its Oko West project in Guyana.
Contact the author at stephen.gunnion@proactiveinvestors.com