TORONTO, Oct. 18, 2017 /CNW/ - RNC Minerals Corporation
("RNC") (TSX: RNX) reports that Beta Hunt mined gold
production increased by 27% to 10,489 ounces in the third quarter
versus the second quarter of 2017.
Mark Selby, President and CEO of
RNC, commented, "I am very pleased with the continued robust
quarter-over-quarter performance improvement in Beta Hunt mine
production to record levels underpinned by strong improvement in
both tonnes mined and grade. The mine exited the quarter with
annualized gold production for the month of September exceeding
54,000 ounces and gold grades of 2.53 g/t. We expect continued
robust improvements in throughput and grade during the current
quarter."
Gold ounces mined during the third quarter increased by 27% to
10,489 ounces. For the full third quarter 146 kt tonnes were mined
at an average grade of 2.24 g/t, improvements of 18% and 7%,
respectively, compared to the second quarter of 2017.
During the third quarter, 182.3 kt of production was milled at
an average grade of 2.23 g/t, increases of 86% and 8%,
respectively, compared to the second quarter. Gold recovery was 90%
in the third quarter, unchanged from the second quarter. Gold sales
during the quarter increased from the second quarter by 47% to
8,659 ounces. One toll was not completed until after the end of the
quarter. As a result, the growth in ounces sold is not as high as
the nearly 100% growth in ounces milled during the
quarter.
Mined nickel production during the third quarter was 8.3 kt and
milled production was 10.2 kt at a mill grade of 2.84%. Nickel in
concentrate production was 0.25 kt during the third quarter, an
increase of 6% compared to the prior quarter.
Beta Hunt Mine Q3 2017 Operating Results
Beta Hunt Gold and
Nickel Operation1
|
Q2
2017
|
Q3
2017
|
Q2 to
Q3
%
Change
|
Sep
2017
|
Gold tonnes mined
(000s)
|
123.1
|
145.5
|
+18%
|
55.4
|
Gold mined grade
(g/t)3,4
|
2.09
|
2.24
|
+7%
|
2.53
|
Gold mined
(ounces)2,3,4
|
8,281
|
10,489
|
+27%
|
4,508
|
Gold tonnes milled
(000s)
|
98.1
|
182.3
|
+86%
|
86.9
|
Gold mill grade
(g/t)
|
2.07
|
2.23
|
+8%
|
2.13
|
Gold Recovery
(%)
|
90
|
90
|
-
|
89
|
Gold milled
(ounces)
|
6,535
|
13,047
|
+100%
|
5,939
|
Gold sales
(ounces)1
|
5,891
|
8,659
|
+47%
|
2,242
|
Nickel tonnes mined
(000s)
|
10.1
|
8.3
|
-18%
|
2.3
|
Nickel tonnes milled
(000s)
|
9.6
|
10.2
|
+6%
|
2.9
|
Nickel mill grade,
nickel (%)
|
2.84
|
2.84
|
0%
|
2.86
|
Nickel in concentrate
tonnes (000s)
|
0.24
|
0.25
|
+6%
|
0.07
|
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 September 30,
2017, 43.5 kt of gold mineralization from Q3 2017 production
remained on the ROM pad for tolling in the subsequent quarter,
compared to 80 kt of gold as of June 30, 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.
About Royal Nickel Corporation
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