Toronto-based RNC Minerals new discovery of 987 ounces of coarse visible gold validates their approach that they’d find more gold at their Beta Hunt mine in Western Australia. The gold, found as coarse gold present in quartz veins, was found on the level below their Father’s Day Vein discovery.
The estimated 987 oz of gold was recovered from 238 kg of rock from a series of veins. At present this is an estimate as the material is yet to be processed.
“We are thrilled to have encountered high grade coarse gold in the area below the Father’s Day Vein,” commented RNC’s CEO Mark Selby.
“This most recent discovery provides further support for our geological model that predicts that the areas where the mineralized shear zone and sedimentary sulphides intersect are capable of generating “Father’s Day Vein” style coarse gold mineralization, and proves that such areas extend at least 25 metres below the Father’s Day Vein discovery.”
As noted in previous updates, mining has been advancing along the main A Zone shear on the 16 level toward a point approximately 25 metres below the Father’s Day Vein discovery on 15 Level. RNC’s focus on mining on 16 level has been driven by RNC’s geological model, which predicts that Father’s Day Vein style coarse gold is likely to occur where mineralized shears intersect sedimentary sulphides and by the occurrence of a diamond drill intersection of 119 g/t over 6.40 m, including 1,406 g/t over 0.50 m in hole AZ15-013 located 7 metres below the Father’s Day Vein occurrence.
RNC stated that the high-grade gold structures were encountered in the A Zone 16 level Ore Drive at the Beta Hunt Mine as it entered the area where the down-plunge extensions of Father’s Day Vein style mineralization were projected to occur. This is where the A Zone shear intersects sedimentary sulphides on the 16 level Ore Drive.
The veins that were discovered were mined out in the 16 level Ore Drive which will continue to advance through this area over the next several weeks.
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 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 4 km strike length which remain open in multiple directions adjacent to an existing 5 km 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 ninth largest cobalt reserve in the world. RNC owns a 27% 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.