TORONTO, Jan. 18, 2018
/CNW/ - RNC Minerals Corporation ("RNC") (TSX: RNX) reports
that Beta Hunt mined gold production increased by 21% to 12,722
ounces in the fourth quarter of 2017 versus Q3, and reached an
annualized production rate of over 70,000 ounces during the second
half of December.
160 kt were mined at Beta Hunt at an average grade of 2.47 g/t
during Q4 2017, improvements of 10% and 10%, respectively, compared
to the third quarter. 158 kt of production was milled at an average
grade of 2.39 g/t, compared to 182 kt and 2.23 g/t, respectively,
in Q3. Gold recovery was 92%, compared to 90% in the third
quarter. Q4 mined nickel production was 8.6 kt, and milled
production was 7.0 kt at a mill grade of 2.64%.
Mark Selby, President and CEO of
RNC, commented, "I am very pleased with the continued
quarter-over-quarter performance improvement in Beta Hunt mine
production to record levels underpinned by continued improvements
in both tonnes mined and grade. The mine exited the quarter with
annualized gold production during the second half of December
exceeding 70,000 ounces. We expect continued robust
improvements in throughput and grade during the current
quarter."
Table 1: Beta Hunt Mine Q4 2017 Operating Results
Beta Hunt Gold and
Nickel
Operation1
|
Q3
2017
|
Q4
2017
|
Q3 to Q4
%
Change
|
Dec 2017
|
Gold tonnes mined
(000s)
|
146
|
160
|
+10%
|
60
|
Gold mined grade
(g/t)3,4
|
2.24
|
2.47
|
+10%
|
2.60
|
Gold mined
(ounces)2,3,4
|
10,489
|
12,722
|
+21%
|
5,027
|
Gold tonnes milled
(000s)
|
182
|
158
|
-13%
|
48
|
Gold mill grade
(g/t)
|
2.23
|
2.39
|
+7%
|
2.73
|
Gold Recovery
(%)
|
90
|
92
|
+2%
|
91
|
Gold milled
(ounces)
|
13,047
|
12,128
|
-7%
|
4,220
|
Gold sales
(ounces)1
|
8,659
|
12,896
|
+49%
|
3,819
|
Nickel tonnes mined
(000s)
|
8.3
|
8.6
|
+4%
|
3.0
|
Nickel tonnes milled
(000s)
|
10.2
|
7.0
|
-31%
|
2.1
|
Nickel mill grade,
nickel (%)
|
2.84
|
2.64
|
-7%
|
1.77
|
Nickel in concentrate
tonnes (000s)
|
0.25
|
0.16
|
-36%
|
0.03
|
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 December 31,
2017, 46.5 kt of gold mineralization from Q4 2017 production
remained on the ROM pad for tolling in the subsequent quarter,
compared to 43.5 kt of gold as of September 30, 2017
|
For full year 2017, 531 kt were mined at an average grade of
2.17 g/t, changes of 43% and -6%, respectively, compared to
2016.
Gold ounces mined in 2017 increased by 33% (to 37,027 ounces)
compared to 2016, in line with our most recent guidance. Full year
2017 milled production was 507 kt at an average grade of 2.16 g/t,
+43% and -6%, respectively, compared to 2016. The average mill gold
recovery was 91% for 2017. The average mill gold recovery was 91%
for 2017.
Gold sales during Q4 2017 increased from the third quarter by
49% to 12,896 ounces and, for the full year, gold sales totaled
33,578 ounces, up 60% from 2016.
For the full year mined nickel production totaled 33.8 kt and
milled production was 33.7 kt at a mill grade of 2.73%. Nickel in
concentrate production was 0.16 kt during the fourth quarter and
0.80 kt for the full year.
Table 1: Beta Hunt Mine 2017 Operating Results
Beta Hunt Gold and
Nickel
Operation1
|
FY
2016
|
FY
2017
|
2016
to 2017 %
Change
|
Gold tonnes mined
(000s)
|
371
|
531
|
+43%
|
Gold mined grade
(g/t)3,4
|
2.3
|
2.17
|
-6%
|
Gold mined
(ounces)2,3,4
|
27,882
|
37,027
|
+33%
|
Gold tonnes milled
(000s)
|
354
|
507
|
+43%
|
Gold mill grade
(g/t)
|
2.29
|
2.16
|
-6%
|
Gold milled
(ounces)
|
21,500
|
35,307
|
+64%
|
Gold sales
(ounces)1
|
20,958
|
33,578
|
+60%
|
Nickel tonnes mined
(000s)
|
73.3
|
33.8
|
-54%
|
Nickel tonnes milled
(000s)
|
73.9
|
33.7
|
-54%
|
Nickel mill grade,
nickel (%)
|
2.72
|
2.73
|
+0.4%
|
Nickel in concentrate
tonnes (000s)
|
1.80
|
0.80
|
-55%
|
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 December 31,
2017, 46.5 kt of gold mineralization from Q4 2017 production
remained on the ROM pad for tolling in the subsequent quarter,
compared to 43.5 kt of gold as of September 30, 2017
|
RNC Completes Previously Announced Equity Issuance
The $1.6 million RNC common share
issuance that was referenced in RNC's release dated January 12, 2018, has been completed.
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 a 50% interest in a nickel joint venture with
Waterton that owns the Dumont Nickel-Cobalt Project located in the
Abitibi region of Quebec, a 100%
interest in the producing Beta Hunt gold and nickel mine located in
Western Australia, and a 30% stake
in the producing Reed Mine located in the Flin Flon-Snow
Lake region of Manitoba,
Canada. Through its stake in Orford Mining Corporation
(TSX-V: ORM), RNC also has interests in the West Raglan and Qiqavik
projects in Northern Quebec and
properties in the U.S. Carolina Gold
Belt. 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