TORONTO,
June 20, 2017
/CNW/ - RNC Minerals ("RNC") (TSX: RNX) has
achieved commercial gold production at its Beta Hunt Mine in
Western Australia by producing at
least 3,500 contained ounces of gold over a one month period
(equivalent to an annualized production rate of 42,000 ounces).
Mine performance has improved significantly to-date during the
second quarter with an average gold mining rate of approximately
1,600 tonnes per day, 40% higher than the average in the first
quarter of 2017 (see Figure 1). Mined gold grades1
during the period in which commercial production was achieved are
in excess of 2.3 g/t, more than 35% higher than average grades in
the first quarter.
Mark Selby, President and
CEO, commented, "Achievement of commercial production at Beta Hunt
is a key milestone. The Beta-Hunt production ramp-up is now on
track, with significant improvements in both mining rates and gold
grades. Development rates have also improved substantially versus
earlier in the year which will allow additional mining areas to be
brought into production and continue our gold production ramp-up. I
look forward to robust performance at Beta Hunt in the second half
of 2017 to deliver our previously announced production guidance in
2017."
The disclosure of scientific and technical information
contained in this news release has been approved by Kevin Small, Director, Mining Operations of RNC,
a Qualified Person under NI 43-101.
________________________________ 1.
Final grades are determined once mined material has been
processed.
|
About RNC
RNC is a multi-asset mineral resource
company with a portfolio of gold and base metal production and
exploration properties. RNC's principal assets are the producing
Beta Hunt gold and nickel mine in Western
Australia, a 50% interest in a nickel joint venture with
Waterton that holds the Dumont Nickel Project in the Abitibi region
of Quebec, and a 30% stake in the
producing Reed Mine in the Flin
Flon-Snow Lake region of
Manitoba, Canada. RNC also owns a
majority interest in the West Raglan and Qiqavik projects in
Northern Quebec. RNC has a strong
management team and Board with over 100 years of mining experience
at Inco and Falconbridge. 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 and Reed mines.
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; accidents, labour disputes and other
risks of the mining industry; political instability, terrorism,
insurrection or war; or delays in obtaining governmental approvals,
projected cash 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
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