RNC Reports Multiple New High Grade Gold Intersections from Western Flanks and A Zone at Beta Hunt Mine

Date : 05/02/2019 @ 12:31PM
Source : PR Newswire (Canada)
Stock : Royal Nickel Corporation (RNX)
Quote : 0.63  -0.02 (-3.08%) @ 5:54PM

RNC Reports Multiple New High Grade Gold Intersections from Western Flanks and A Zone at Beta Hunt Mine

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  • Gold mineralization has now been extended by over 150 metres to the north of the existing Western Flanks resource (see figure 2). Broad zones of mineralization with significant gold intersections have been identified outside the current resource. Key intersections (all estimated true widths):
    • WFN-071 – 16.8 g/t over 27.8 m including 748 g/t over 0.53 m
    • WFN-015 – 4.5 g/t over 23.75 m and 7.4 g/t over 5.95 m
    • WFN-022 – 3.1 g/t over 37.70 m (including 6.7 g/t over 6.96 m and 7.1 g/t over 3.05 m) and 3.1 g/t over 19.91 m;
    • WFN-049 – 3.04 g/t over 16.42 m and 2.5 g/t over 16.42 m
  • Infill Drilling at Western Flanks from the 325 Ore Drive (see figure 2) has intersected higher grade gold in multiple places over much greater widths than the current resource model. Key intersections (all estimated true widths):
    • WFC325-003 – 3.5 g/t over 48.6 m (including 7.9 g/t over 12.20 m and 6.3 g/t over 16.91 m and 20.9 g/t over 8.94 m including 119.6 g/t over 1.24 m);
    • WFC325-001 – 4.3 g/t over 19.74 m (including 8.2 g/t over 6.23 m);
    • WFC325-028 – 4.9 g/t over 16.73 m (including 187.0 g/t over 0.23 m and 4.4 g/t over 9.74 m).
  • Multiple holes define the continuity of mineralization to the south and down-dip on the A Zone shear with infill drilling often yielding grades and widths in excess of the existing resource model. Key intersections (all estimated true widths):
    • AZ14-012 – 10.9 g/t over 8.99 m (including 157.0 g/t over 0.44 m);
    • AZ13-107 – 6.8 g/t over 7.17 m (including 26.6 g/t over 1.16 m)
    • AZ13-125 – 3.3 g/t over 12.57 m

Full significant drill intersections are provided in table 1 and drill hole location details is provided in table 2

TORONTO, May 2, 2019 /CNW/ - RNC Minerals (TSX: RNX) (RNC) is pleased to announce ongoing drill results from its 100% owned Beta Hunt Mine. As of April 21 2019, 244 holes have been completed, totaling 27,457 metres of the planned 40,000 meter campaign. Since RNC's February 25 release, assay results have been received for an additional 127 holes totaling 11,929 metres.

Mark Selby, President and CEO of RNC, commented "With the majority of resource drilling now largely complete, RNC enters the most exciting phase of the exploration program. Through the balance of the quarter, RNC plans to test the broader exploration potential of the four shears on the property – at depth and along the 4+km of strike of the Beta Hunt system. RNC's drill program thus far has delivered on multiple objectives. Western Flanks gold mineralization has been extended with infill drilling and resource extension drilling. Numerous wide intersections now highlight the large scale bulk potential of this shear while containing significant 4 to 6 g/t intervals – both in excess of the grade and width of the current resource. Drilling in the A Zone also continues to extend the resource, with multiple intersections both exceeding the grade and thickness of the current resource."

Figure 1 – Plan View of Beta Hunt Sub-lease showing focus of recent drill campaign and location of A Zone and Western Flanks long sections. (CNW Group/RNC Minerals)

The latest drill results at A Zone are from drill holes designed to increase the confidence in the shear-hosted resource at depth and to the south as well as expand the resource in these directions. At Western Flanks, drilling continues to define the northern extension of mineralization to a distance of over 150 metres outside the existing resource.  Shorter holes from the Western Flanks Central 325 ore drive (WFC325- series of holes) were targeted at providing increased definition of resources for short term mine planning. In addition to results presented to date, 43 holes totaling 6,993 metres have been drilled for which results are pending.

Drilling in Western Flanks

A total of 109 holes totaling 13,347 metres have now been completed at Western Flanks. Assay results have been received for a further 62 holes totaling 6,162 metres at Western Flanks Since RNC's February 25 news release. Drilling for the period covered by this release focused primarily on areas to the north of and outside the existing Western Flanks resource model and was aimed at extending and upgrading the existing resource. As part of to this resource definition and extension drilling, 1,339 m of drilling (WFC325 – series of holes) have also been completed to increase the confidence of resources that are targeted for mining in the short term.

Drilling to the north of the Western Flanks zone has shown that the thick relatively continuous mineralization extends at least 150 m beyond the current resource model and remains open both along strike and at depth (see figure 2).  

Drill holes like WFN-049 and WFN-040 (results below) that occur at the northernmost edge of Western Flanks drilling have extended the thick mineralized system over 150 m beyond the edge of the current resource and illustrate the potential for significant additions to the resource.

  • WFN-049 – 3.04 g/t over 16.42 m (including 17.8 g/t over 0.93 m) and 2.5 g/t over 16.42 m (including 3.6 g/t over 5.74 m and 6.7 g/t over 2.54 m);
  • WFN-040 – 4.7 g/t over 17.06 m (including 29.6 g/t over 0.54 m and 21.0 g/t over 0.78 m) and 4.5 g/t over 11.00 m (including 10.7 g/t over 2.34 m).

Infill and extension drilling at Western Flanks also highlights that, in many places, gold mineralization can extend considerable distances across the shear system between what has previously been considered as mineralized shear domains (see examples below and cross section of Western Flanks in figure 3).  These results illustrate the nature of the Western Flanks as a thick, variably mineralized system containing shear zones grading in the 4 to 6 g/t range with mineralization between these shear zones often grading in the 0.5 to 2 g/t range.  The extension of mineralization at lower grades outside what was previously modeled as mineralized domains also provides good potential for significant additions to the resource. 

  • WFN-071 – 16.8 g/t over 27.8 m (including 3.1g/t over 7.32 m and 51.9 g/t over 8.55 m including 748 g/t over 0.53 m);
  • WFN-015 – 4.5 g/t over 23.75 m (including 13.8 g/t over 2.23 m and 10.4 g/t over 3.35 m) and 7.4 g/t over 5.95 m (including 42.3 g/t over 0.79 m);
  • WFN-022 – 3.1 g/t over 37.70 m (including 6.7 g/t over 6.96 m and 7.1 g/t over 3.05 m) and 3.1 g/t over 19.91 m;

Figure 2 – Western Flanks Long Section looking East showing current drilling pierce points and selected intersections of the Western Flanks shear from current drill results. Note: The Western Flanks Shear is, in part, made up of multiple lodes over a width of approximately 50m.  All intersections are reported as estimated true widths. (CNW Group/RNC Minerals)

Figure 3 – Western Flanks Cross Section looking North showing current and historical drill traces and selected intersections. See figure 2 for location of cross section.  Bonanza intersections are associated with pyritic Lunnon sediment in the footwall to the main mineralized shear system.  Note that sampling for gold is incomplete through the Western Flanks shear system in historical HS-series holes near the top of the section that were drilled for nickel.  All intersections are reported as estimated true widths. (CNW Group/RNC Minerals)

Drilling in A Zone

A total of 135 holes for 14,110 metres have now been drilled along the A Zone shear and assay results have been received for a further 65 holes totaling 5,767 metres at A Zone since RNC's February 25 news release, Drilling has infilled around the Father's Day Vein and the northern, southern and down-dip limits of the A Zone (see Figure 4). 

Highest grade results were achieved from drilling the northern central section of the shear zone where drilling tested for mineralization along and below the interpreted shear/Lunnon Sediment contact. Results showed strong grades and thicknesses in excess of the existing resource. The best intersection, AZ14-012 – 10.9 g/t over 8.99 m, is associated with narrow bands of pyritic sediment within sheared basalt, including 157 g/t over 0.44 m, hosted by quartz-veined pyritic sediment. This result again reinforces the strong relationship of bonanza grades with shear-hosted Lunnon Sediment.

Figure 4 – A Zone Long Section looking East showing current drilling pierce points and selected intersections of the A Zone shear from the most recent drill results – post January 22, 2019. (CNW Group/RNC Minerals)

Drilling continues to be focused on extending and upgrading the northern, southern and down-dip margins of the existing resource

Going Forward

The current phase of resource drilling is largely complete and will be the basis of a resource update expected to be published by the end of the second quarter.  The exploration program now enters into an exciting phase as our focus will turn to exploration targets including the Fletcher Trend and northern strike extension of the A Zone as we test the broader exploration potential of the four shears on the property – at depth and along the 4+ km of strike of the Beta Hunt system.

Table 1: Significant drill results since February 25th, 2019
Please refer to the following link for the full summary table of significant drill results from A Zone and Western Flanks received since February 25th, 2019: Beta Hunt Table 1

Table 2: Location and status of holes drilled in the current campaign beginning October 10, 2018.
Please refer to the following link for the full summary table of the hole location and status of holes drilled in the current campaign beginning October 10, 2018: Beta Hunt Table 2

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 drilling results at the Beta Hunt Mine is based on information reviewed by Steve Devlin, who is a Member of the Australian Institute of Mining and Metallurgy. Mr. Devlin 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, the 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 33% 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.

Table 1: Significant drill results since February 25th, 2019 (CNW Group/RNC Minerals)

Table 2: Location and status of holes drilled in the current campaign beginning October 10, 2018. (CNW Group/RNC Minerals)

RNC Minerals (CNW Group/RNC Minerals)

SOURCE RNC Minerals

Copyright 2019 Canada NewsWire

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