Rupert Resources is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "RUP". Rupert holds an option to acquire the Pahtavaara gold mine, mill and and claims to a land position of 124km2 in the highly prospective Central Lapland Greenstone Belt in Northern Finland for a total consideration of US$2.5 million.
Pahtavaara is located some 35km by road from the town of Sodankyla. The deposit was discovered in 1986 and since operations commenced in 1996 the mine has produced 350,000oz of gold, with peak annual production of 37koz/a. The operation is currently on care and maintenance but subject to its decision to exercise its option over the property, Rupert Resources intends to commence a comprehensive exploration program to extend reserve life from the current estimate of 1.5 years to over 5 years and delineate further resources from the enlarged licence area before recommencing production.