2018
Gold Mined Production Increased by 99%
to 73,801 Ounces
- Further confirmation of Lunnon Sediment potential to
generate high grade coarse gold. Key intersections (estimated true
width):
-
- Second high-grade intersection at Western Flanks – 395.9 g/t
over 4.75 m (including 2,210 g/t over
0.85 m) in hole WFN-063 (hole located
8 metres from previously released hole WFN-029 containing 7,621 g/t
over 0.22 m)
- High grade intersection at north end of A Zone – 468 g/t
over 0.21 m in hole AZ13-156
- New results from Western Flanks drilling confirms broad
zones of mineralization, and significant gold intersections outside
and to the north of the existing resource. Key intersections
(estimated true width):
-
- WFN-065 – 3.07 g/t over 39.13
m (including 5.24 g/t over 7.05
m and 4.49 g/t over 10.09
m)
- WFN-058 – 3.13 g/t over 16.86
m (including 11.66 g/t over 2.67
m) and 3.03 g/t over 18.89
m (including 4.75 g/t over 4.61
m)
- WFN-045 – 4.17 g/t over 19.14
m (including 8.92 g/t over
3.58 m) and 4.63 g/t over
7.61 m
- Improving grades and thicknesses in A Zone. Key
intersections (estimated true width):
-
- AZ13-156 – 6.02 g/t over 6.20
m (separate from high grade sediment intersection reported
above)
- AZ15- 034 – 7.84 g/t over 5.63
m including 66.90 g/t over 0.38
m
TORONTO, Feb. 25, 2019 /CNW/ - RNC Minerals (TSX:
RNX) (RNC) is pleased to announce ongoing underground drill results
and fourth quarter production results from its 100% owned Beta Hunt
Mine. To date, 168 holes have been completed under this drilling
campaign, totaling 16,669 metres. Since RNC's January 22 release, assay results have been
received for an additional 29 holes, totaling 2,765 metres. The
latest drill results at A Zone target both the sediment layer in
close proximity to the Father's Day Vein discovery and the southern
extension of the resource above the sediment layer. At Western
Flanks, drilling continued to define the northern extension of
mineralization outside the existing resource, while also tracing
the sediment layer. In addition to results presented to date, 93
holes totaling 8,139 metres have been drilled for which results are
pending.
Mark Selby, President and CEO of
RNC, commented "The ongoing drill program continues to be
successful, delivering on multiple objectives as we work to unlock
the tremendous exploration potential at Beta Hunt. The 2,210 g/t
intersection within 8 metres of our previously announced record
intersection in Western Flanks is further confirmation of the
potential of the intersection between the mineralized shears and
the property-wide Lunnon sediment layer for further high grade
coarse gold discoveries. Drilling in the A Zone continues to extend
the resource, with multiple intersections exceeding 4 g/t,
including two intersections in excess of 6 g/t and 5.5 metres at
the margins of the existing resource. At Western Flanks, multiple
wide intersections highlight the scale potential of this shear
while containing significant 4 to 6 g/t intervals. We will continue
to provide regular updates as this 40,000 metre exploration program
advances."
Drilling in Western Flanks
A total of 53 holes totaling 5,870 metres have now been
completed at Western Flanks. Drilling is aimed at extending and
upgrading the existing resource, with focus around the interpreted
position of the sediment layer which has the potential to host high
grade coarse gold intersections. Since RNC's January 22 news
release, assay results have been received for a further 7 holes
totaling 895 metres. Drilling has again highlighted the coarse
gold-sediment association with drill hole WFN-063 yielding an
intersection of 2,210 g/t over 0.85 metres (within 395.9 g/t over
4.75 metres) (true width) hosted by quartz-veined pyritic sediment
located within 8 metres of the previously released drill
intersection in WFN-029, 7,621g/t over 0.28 metres (Figure 2). This
result reinforces RNC's theory that the newly discovered
sedimentary layer carries the potential for multiple, new, high
grade discoveries.
Additionally, thick drill intersections in the Western Flanks
(including: 3.07g/t over 39.13 metres (including 5.24 g/t over 7.05
metres and 4.49 g/t over 10.09 metres) in hole WFN-065, 3.13 g/t
over 16.86 metres (including 11.66 g/t over 2.67 metres) and 3.03
g/t over 18.89 metres (including 4.75 g/t over 4.61 metres) in hole
WFN-058, and 4.17 g/t over 19.14 metres (including 8.92 g/t over
3.58 metres) and 4.63 g/t over 7.61 metres in hole WFN-045)
illustrate the nature of the Western Flanks as a thick, variably
mineralized shear zone. These intersections all lie to the north of
and outside of the existing Western Flanks resource and provide
strong potential for significant additions to the
resource.
Figure 2 – Western Flanks Long Section looking East showing
current drilling pierce points and selected intersections of
the Western Flanks shear from current drill results. Note: The
Western Flanks Shear is, in part, made up of multiple lodes over a
width of approximately 50m. All
intersections are reported as estimated true widths.
Drilling in A Zone
A total of 115 holes for 10,800 metres have now been drilled
along the A Zone shear. Drilling has infilled around the Father's
Day Vein and the northern limit and southern limits of the A Zone
(see Figure 3).
Since RNC's January 22 news
release, assay results have been received for a further 22 holes
totaling 1,870 metres. The bulk of drilling to date has been
focused around the Father's Day Vein to more clearly understand the
geology in this heavily mineralized section of the mine. These
results continue to support strong mineralization along strike of
the Father's Day Vein, such as 7.84 g/t over 5.63 metres in
AZ15-034 including 66.9 g/t over 0.38 metres. This result occurs 90
metres south of the previously reported hole AZ15-013, which
returned 1,406 g/t over 0.50 metres true width and is located just
7 metres below the Father's Day Vein.
Drilling is now focused on extending and upgrading the northern
and southern margins of the existing resource. Limited results
received to date, such as 60.48 g/t over 1.69 metres in AZ15-156
including 468g/t over 0.21 metres associated with the Lunnon
sediment in the hanging wall lode, as well as 6.02 g/t over 6.20
metres in the main A Zone lode, provide confidence that the
existing resource will be upgraded as further results are
received.
Going Forward
Future drilling in the current 40,000 metre program will
increasingly focus on infilling and extending resources in A Zone
and Western Flanks to support an updated resource expected to be
produced by the end of the second quarter. Once the resource
drilling is completed in the second quarter, the remaining drilling
will test several exploration targets, including the Fletcher
Trend.
Table 1: Significant drill results since January 22nd, 2019
Please refer to the following link for the full summary table of
significant drill results from A Zone and Western Flanks received
since January 22nd, 2019:
Beta Hunt Table 1
Table 2: Location and status of holes drilled in the current
campaign beginning October 10,
2018.
Please refer to the following link for the full
summary table of the hole location and status of holes drilled
in the current campaign beginning October
10, 2018: Beta Hunt Table 2
2018 Gold Production
Production from the Beta Hunt Mine totaled 73,801 mined gold
ounces for the full-year 2018, at an average grade of 4.48 g/t,
increases of 99% and 106%, respectively over 2017 results. For the
fourth quarter of 2018, mined gold ounces were 15,341, an increase
of 21% versus the fourth quarter of 2017. The production table
below (Table 1) breaks out production of high grade coarse gold and
total gold production.
Mark Selby, President and CEO of
RNC, commented, "Record 2018 gold production reflects the
tremendous impact from the Father's Day Vein discovery and
high-grade coarse gold production. Production in the fourth quarter
was in line with our expectations with the previously announced
suspension of bulk mining production at Beta Hunt (see RNC news
release dated November 28, 2019), as
we continue to focus on the exploration program. Production
guidance will not be provided until the resource update is
completed and a decision to fully restart bulk production is
made."
Table 3: Beta Hunt Mine December 31,
2018 Production Results
Beta Hunt Gold
Operation1
|
Q4 2017
|
Q4 2018
|
2017
|
2018
|
Gold tonnes mined
(000s)
|
160
|
65
|
531
|
512
|
Gold mined grade (g/t
Au)3,4
|
2.47
|
7.28
|
2.17
|
4.48
|
Gold mined – coarse
gold / specimens (ounces)
|
-
|
9,500
|
-
|
31,139
|
Gold mined
(ounces)
|
-
|
5,841
|
-
|
42,662
|
Total gold mined
(ounces)2,3,4
|
12,722
|
15,341
|
37,027
|
73,801
|
Gold tonnes milled
(000s)
|
158
|
72
|
507
|
493
|
Gold mill grade (g/t
Au)
|
2.39
|
9.42
|
2.16
|
4.22
|
Gold Recovery
(%)
|
90%
|
95%
|
91%
|
93%
|
Gold milled
(ounces)
|
12,128
|
21,574
|
35,307
|
66,918
|
Gold sales
(ounces)1
|
12,896
|
19,512
|
33,578
|
62,806
|
1
|
Note: numbers may not
add due to rounding
|
2
|
The difference in
gold sales ounces and gold mined ounces is due to timing
differences in receipt of gold sales depending on
completion date of tolling campaigns
|
3
|
Final grades are
determined once mined material has been processed
|
4
|
As of December 31,
2018, 64.8 kt of gold mineralization remained on the ROM pad for
tolling
|
Compliance Statement (JORC 2012 and NI 43-101)
The disclosure of scientific and technical information contained
in this news release has been approved by Alger St-Jean,
Vice-President, Exploration of RNC, a Qualified Person under NI
43-101.
The technical information in this news release relating to
drilling results at the Beta Hunt Mine is based on information
reviewed by Steve Devlin, who is a
Member of the Australian Institute of Mining and Metallurgy. Mr.
Devlin is a full time employee of Salt Lake Mining Pty Ltd, a 100%
owned subsidiary of RNC, and has sufficient experience, which is
relevant to the style of mineralization and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2012 edition of the
"Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves".
Drill core sampling was conducted by Beta Hunt personnel.
Samples are shipped to SGS Mineral Services of Kalgoorlie for
preparation and assaying by 50 gram fire assay analytical method.
First sample of each sample submission incorporates a barren rock
sample as a flush to clean the lab crusher and pulveriser and as a
check for contamination. Analytical accuracy and precision are
monitored by the analysis of insertion of additional blank material
and certified standards. The lab is also required to undertake a
minimum of 1 in 20 wet screens on pulverised samples to ensure a
minimum 90% passing at -75µm.
About RNC Minerals
RNC has a 100% interest in the producing Beta Hunt gold mine
located in Western Australia where
a significant high grade gold discovery - "Father's Day Vein" - was
recently made. RNC is currently completing a 40,000 metre drill
program, the results of which will be incorporated into an updated
NI 43-101 compliant Mineral Resource Estimate and mine plan
targeted for Q2 2019. Beta Hunt gold resource potential is
underpinned by multiple gold shears with gold intersections across
a 4km strike length which remain open in multiple directions
adjacent to an existing 5km ramp network. RNC also has a 28%
interest in a nickel joint venture that owns the Dumont
Nickel-Cobalt Project located in the Abitibi region of Quebec which contains the second largest
nickel reserve and eighth largest cobalt reserve in the world. RNC
owns a 35% interest in Orford Mining Corporation, a mineral
explorer focused on highly prospective and underexplored areas of
Northern Quebec. RNC has a strong
management team and Board with over 100 years of mining experience.
RNC's common shares trade on the TSX under the symbol RNX. RNC
shares also trade on the OTCQX market under the symbol RNKLF.
Cautionary Statement Concerning Forward-Looking
Statements
This news release contains "forward-looking information"
including without limitation statements relating to the liquidity
and capital resources of RNC, production guidance and the potential
of the Beta Hunt Mine.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of RNC to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to RNC's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. Forward-looking
statements contained herein are made as of the date of this news
release and RNC disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
SOURCE RNC Minerals