TORONTO,
Aug. 21, 2019 /CNW/ - RNC Minerals
(TSX: RNX) ("RNC") is pleased to announce that gold production for
the month of July 2019 was 7,873
ounces.
Paul Andre Huet, Chairman
& CEO commented: "As promised during our quarterly call, we are
providing more frequent updates. Production of approximately
7,900 ounces during the month of July
2019 is an excellent result for our first full calendar
month of consolidated operations following the acquisition of the
Higginsville Gold Operation (HGO). Material processed during July
was comprised of Beta Hunt mined and stockpile, with excellent
recoveries in the 92-94% range. With the addition of HGO open pits,
having a combination of feed sources provides the opportunity to
blend feeds and optimize throughput and recoveries without having
to clean out the entire mill. With Baloo open pit production
commencing in early August, I look forward to the continued strong
performance of the HGO mill. We anticipate providing production
guidance in the coming 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. 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 has a 100% interest in the
Higginsville Gold Operation in Western
Australia, which is comprised of a low cost 1.3 Mtpa gold
mill and a substantial portfolio of gold tenements. In addition,
RNC owns 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 also owns a 24% 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, Higginsville Gold Operation
and Dumont Nickel – Cobalt
Project. As noted, RNC anticipates providing
guidance in the coming weeks. RNC cautions readers not to annualize
July production unless and until supported by such
guidance.
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