RNC starts gold exploration drilling
program at Beta Hunt
Q3 production results to be released this
week
TORONTO, Oct. 22, 2018 /CNW/ - RNC
Minerals (TSX: RNX) ("RNC"), is pleased to announce that the first
mobile diamond drill has arrived at site and underground drill
crews have started the gold exploration program at the Beta Hunt
Mine near Kambalda, Western
Australia.
The objective of the program is to expand upon the Father's Day
Vein high grade gold discovery at the A Zone area of the Beta Hunt
Mine. Drilling will step out both along strike and dip both above
and below the known discovery area following the pyritic sediment
horizon in the Lunnon Basalt. Understanding the depositional model
for this new gold mineralization provides potential for future
exploration and discovery of additional high grade gold material at
the sediment contact, which has previously been intersected
along two of the main gold bearing shears at A Zone and Western
Flanks located at the Beta Hunt Mine.
"With the arrival of the first drill at site during the past
week, exploration activities will begin to ramp up as part of an
aggressive exploration campaign. The geology team is continuing to
advance their work on understanding the sediment structures with
the potential for additional high grade coarse gold. The high grade
gold potential of the mine remains largely unexplored," said
Mark Selby, President and CEO of
RNC.
Mr. Selby continued "Third quarter production results will be
released this week, later than originally expected, due to delays
in final outturns from the large volumes of coarse gold
processed."
The disclosure of scientific and technical information contained
in this news release has been approved by Kevin Small, Vice-President, Project Development
of RNC, a Qualified Person under NI 43-101.
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
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 and 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 as well as the and the potential of
the Dumont development project and Orford Mining's Qiqavik, West
Raglan, Jones-Keystone Loflin and Landrum-Faulkner 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; 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