- First drilling at Western Flanks to test sediment layer
further illustrates potential of sediment to generate high grade
coarse gold – intersected 1,017 g/t over 2.00 metres (true width)
including 7,621 g/t over 0.27 metres (true width) in hole
WFN-029
- A Zone drilling targeting sediment layer and shear near
Father's Day Vein intersected 119.37 g/t over 6.4 metres (true
width) including 1,406 g/t over 0.50 metres (true width) in hole
AZ15-013 located just 7 metres below Father's Day Vein
- Resource extension and infill drilling at A Zone and Western
Flanks has yielded encouraging results.
TORONTO, Jan. 22, 2019 /CNW/ - RNC Minerals
(TSX: RNX) (RNC) is pleased to announce drilling results received
to-date from its 100% owned Beta Hunt Mine. The new underground
drill results comprise 46 holes totaling 5,766 metres of drilling
that was initiated during the fourth quarter of 2018. Drilling was
carried out in both the A Zone and Western Flanks areas of the
mine, with initial holes focused on more clearly defining the
sediment layer in close proximity to the Father's Day Vein
discovery and, for the first time, testing the sediment layer in
Western Flanks. A further 37 holes totaling 4,198 metres have been
drilled for which results are pending.
Mark Selby, President and CEO of
RNC, commented "After the historic Father's Day Vein discovery, we
have taken steps to test the theory that the newly identified
property-wide sedimentary layer carries the potential for further
high grade discoveries in the four main shear zones at Beta Hunt.
This potential has been highlighted by one of our first set of
holes at Western Flanks targeting the sediment layer in one small
section of the shear that yielded a 7,621 g/t intersection of
coarse gold - which to our knowledge is the highest grade drill
intersection by any reporting company since 2017 and is located
within 45 metres of our existing development. The second
high-grade intersection located in the A Zone shear just 7 metres
below the Father's Day Vein highlights the potential for further
high grade coarse gold from this shear. RNC is in an enviable
position with the recently completed financing, and a 40,000 metre
drill program underway to unlock the significant exploration
potential at Beta Hunt. A more comprehensive drilling update will
be provided in February."
Drilling in Western Flanks Targeting Sediment Layer, Resource
Extension and Infill Drilling
32 holes totaling 3,748 metres
have been completed to assist in defining the resource and mapping
the sediment layer within the Western Flanks shear zone, which
hosts the potential for high grade coarse gold. Assay results
have been received for 19 holes totaling 2,350 metres. WFN-029
yielded a drill intersection containing high grade coarse gold
which assayed 7,621 g/t over 0.27 metres (true width) located
within 45 metres of existing development. This result, which is the
first high grade coarse gold found at the intersection of the
sediment layer within the Western Flanks shear, is consistent with
RNC's interpretation that the newly discovered sedimentary layer
carries the potential for multiple new high grade discoveries.
Key intersections include (all estimated true widths):
- WFN-017 – 3.98 g/t over 14.24 metres,
- WFN-023 – 4.36 g/t over 10.57 metres, including 7.53 g/t
over 5.00 metres and 4.69 g/t over 7.36 metres
- WFN-029 – 1,017.3 g/t over 2.00 metres including 7,621 g/t
over 0.27 metres and 6.09 g/t over 8.65 metres
- WFN-036 – 6.86 g/t over 7.28 metres and 4.34 g/t over 9.86
metres
The 7,621 g/t drill intersection in WFN-029 is, to the Company's
knowledge, the highest grade drill intersection by any reporting
company since 2017 - only Kirkland
Lake's Fosterville mine and
Pretium Resources Brucejack mine have yielded higher grade
intersections over the past 4 years (see Table 1).
Table 1 List of Reported High Grade Drill Intersections (2015
to date)
Fosterville and
Beta Hunt intervals are true width
|
|
|
|
|
Property
|
Current
Owner
|
Interval
(m)
|
Grade Au
(g/t)
|
Date
|
Brucejack
|
Pretium Resources
Incorporated
|
0.50
|
37,117
|
12-May-16
|
Fosterville
|
Kirkland Lake Gold
Ltd.
|
0.24
|
21,490
|
17-Jan-17
|
Brucejack
|
Pretium Resources
Incorporated
|
0.50
|
20,287
|
12-Jan-16
|
Brucejack
|
Pretium Resources
Incorporated
|
0.50
|
11,650
|
5-Apr-16
|
Brucejack
|
Pretium Resources
Incorporated
|
0.50
|
10,700
|
12-Jan-16
|
Brucejack
|
Pretium Resources
Incorporated
|
0.50
|
9,200
|
31-May-16
|
Fosterville
|
Kirkland Lake Gold
Ltd.
|
0.90
|
9,115
|
7-Nov-17
|
Brucejack
|
Pretium Resources
Incorporated
|
0.50
|
8,600
|
8-Oct-15
|
|
|
|
|
|
Beta
Hunt
|
RNC
Minerals
|
0.27
|
7,621
|
22-Jan-19
|
|
|
|
|
|
Brucejack
|
Pretium Resources
Incorporated
|
0.50
|
6,980
|
8-Mar-16
|
|
|
1.
|
Source: S&P
Global Market Intelligence. This information is provided for
comparative purposes and is not indicative of the mineralization on
RNC's properties.
|
Drilling in A Zone Targeting Sediment Layer in Close
Proximity to Father's Day Vein, Resource Extension and Infill
Drilling
51 holes totaling 6,216 metres were completed
along the A Zone shear in multiple directions from the Father's Day
Vein and at the northern limit of the A Zone resource (see Figure
3). Results have been received for 27 holes totaling 3,416
metres. The holes allow the intersection of the sediment and
A Zone shear to be more clearly mapped, and infill and extend the A
Zone resource. Hole AZ15-013 returned 1,406 g/t over 0.50 metres
true width located just 7 metres below the Father's Day Vein (see
Figure 4).
Key intersections include (all true widths):
- AZ13-145 – 4.53 g/t over 4.66 metres
- AZ15-006 – 3.73 g/t over 11.77 metres, including 5.59 g/t
over 4.79 metres,
- AZ15-007 – 3.90 g/t over 9.50 metres, including 12.52 g/t
over 0.99 metres and 16.33 g/t over 0.86 metres,
- AZ15-013 - 119.37 g/t over 6.4 metres including 1,406 g/t
over 0.50 metres
- AZ15-019 – 3.74 g/t over 3.44 metres,
- AZ15-020 – 4.02 g/t over 5.58 metres,
- AZ15-022 – 3.61 g/t over 11.52 metres, including 4.63 g/t
over 6.74 metres and 3.77 g/t over 2.36 metres,
- AZ15-025 – 3.60 g/t over 7.49 metres
Next Steps
A more comprehensive drilling release will be provided in
February. Future drilling in the 40,000 metre program will
increasingly focus on infilling and extending resources in A Zone
and Western Flanks.
Table 2 Selected drill results.
Please refer to the
following link for the full summary table of selected drill results
from A Zone and Western Flanks: Beta Hunt Table 2.
Table 3 Location and status of holes drilled in current
campaign beginning October 10,
2018.
Please refer to the following link for the full
summary table of the hole location and status from A Zone and
Western Flanks: Beta Hunt Table 3.
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
results at the Beta Hunt Mine is based on information reviewed by
John Vinar, who is a Member of the
Australian Institute of Mining and Metallurgy. Mr. Vinar 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 on near mine exploration targets focused on the Father's
Day Vein area, 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 and Reed mines as well as the and the potential of
the Dumont development project and Orford Mining's Qiqavik, and
West Raglan, exploration properties.
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