Projects
Savo
The Savo Project consists of the Rantasalmi reservation in south east Finland. Gemdale applied for a Reservation over the Osikönmaki deposit in March 2023, which was approved in April 2023, and remained valid until March 2025. An application for an Exploration Permit was submitted on March 8, 2025 and Gemdale is awaiting completion of the approval process.
The Osikönmaki deposit is a shear zone hosted gold deposit, where mineralization is believed to be controlled by an E-W oriented shear zone dipping approximately 40° – 50° to the south and plunging slightly to the east. Mineralization occurs at the eastern and western parts of the footwall to the shear zone. Osikönmaki has had three historical NI 43-101 compliant resource estimates completed (2006, 2011 and 2018), with each only focused on relatively shallow portions of the system which remains open down plunge.
The most recent resource estimate announced an inferred Mineral Resource estimate of 3.23 Mt at a grade of 2.7 g/t Au for contained metal of 276 koz Au. In November 2018, Rupert Resources Ltd, released an NI 43-101 Mineral Resource Estimate completed by Brian Wolfe (Qualified Person) of International Resource Solution Pty Ltd. The NI 43-101 Technical Report was filed by Rupert Resources Ltd on SEDAR on 9th November, 2018. No new data subsequent to an earlier 2011 estimate was included in this study. This study used Multiple Indicator Kriging (MIK) for the estimation of grade into the block model. This study assumed a combined open pit and underground mining operation, recoveries of 85-90% and a gold price of EUR 1,200/oz (current gold price ~ EUR 4240/oz). The use of MIK as an estimation method, along with the requirements of a greater degree of confidence in the geological continuity for underground mining, were given as the reasons for the assigned lower resource category of Inferred Resources compared to the 2011 Resource Estimate. The Resource Estimate was reported at a cut-off grade of 1.5 g/t Au.
| Osikonmäki Mineral Resource Estimate for Rupert Resources Ltd, 9 Nov 2018 | |||||
|---|---|---|---|---|---|
| Year | Cut-off Au g/t | Classification | Tonnes | Au (g/t) | Au (oz) |
| 2018 | 1.5 | Inferred | 3,230,000 | 2.7 | 276,000 |
The Company is not aware of any further drilling or sampling being conducted on the property since this historical estimate was completed. Gemdale Gold Inc is not treating this historical estimate as a current resource estimate. Neither Gemdale Gold Inc nor a suitable Qualified Person, has done sufficient work to classify the historical estimate as a current Mineral Resource Estimate. The company believes this historical estimate is relevant and reliable in providing insight into the potential mineral resources for the project based on historical drilling completed to date, as it was completed by a Qualified Person in accordance with NI 43-101. Gemdale Gold believes that further drilling is not required to verify or upgrade these historical resources to a current Mineral Resource Estimate, but that it is necessary for a Qualified Person to review the assumptions and methodology used for the estimation. The Savo Project is available for joint venture deals.
The Savo Project is available for joint venture deals.
Qualified Persons statements can be found on the Legal page.