The Prospector News

RNC Minerals Produces 13,497 oz of Gold in October 2018

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

RNC Minerals Produces 13,497 oz of Gold in October 2018

 

 

 

 

 

RNC Minerals Corporation (TSX: RNX) is pleased to report production from the Beta Hunt Mine of 13,497 mined gold ounces for the month of October 2018 at an average grade of 9.06 g/t. Year-to-date October 31, 2018 mined gold ounces was 71,957, an increase of 60% versus the prior year period, including 25,355 ounces thus far from the Father’s Day Vein and a total of 30,145 ounces of high grade coarse gold from all areas. The production table below (Table 1) breaks out production of high grade coarse gold and total gold production. Mining of high grade coarse gold has resumed in the Father’s Day Vein discovery area.

 

Mark Selby, President and CEO of RNC, commented, “October was another excellent production month for the Company as we recovered an additional 8,506 ounces of high grade coarse gold. RNC is in a solid cash position with a cash and cash equivalents balance (including specimens held for sale valued at gold content) as of November 9, 2018 of $18.8 million – sufficient to fund the company’s planned upcoming activities. Drilling along strike from the Father’s Day Vein discovery area in the A Zone is underway and a second drill has arrived at site to begin resource definition drilling and target the sediment layer in the much larger Western Flanks structure. We expect our exploration program to add additional gold ounces going forward as we define and explore sediment structures throughout the Beta Hunt mine.”

 

Table 1: Beta Hunt Mine Year-to-Date October 31, 2018 Production Results

 

 

Beta Hunt Gold Operation1 Q1 2018 Q2 2018 Q3 2018 Oct 2018 YTD 2018
Gold tonnes mined (000s) 169 132 146 46 493
Gold mined grade (g/t Au)3,4 2.54 3.14 6.67 9.06 4.54
Gold mined – coarse gold / specimens (ounces) 381 1,841 19,417 8,506 30,145
Gold mined (ounces) 13,399 11,479 11,943 4,991 41,812
Total gold mined (ounces)2,3,4 13,780 13,320 31,360 13,497 71,957
Gold tonnes milled (000s) 110 112 199 33 454
Gold mill grade (g/t Au) 2.36 3.28 3.93 14.74 4.17
Gold Recovery (%) 90% 91% 95% 95% 93%
Gold milled (ounces) 8,372 11,844 25,1285 15,497 60,841
Gold sales (ounces)1 7,978 11,511 23,805 15,233 58,527

 

Note that October 2018 sales and production numbers are preliminary estimates. Final grades and ounces can only be determined once mined material has been processed.

 

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 October 31, 2018, 84.1 kt of gold mineralization remained on the ROM pad for tolling, as compared to 70.5 kt of gold mineralization as of September 30, 2018.
5. Milled ounces is corrected from previously reported number of 33,725 ounces.

 

Technical Disclosure

 

The disclosure of scientific and technical information contained in this news release has been approved by Kevin Small, Chief Operating Officer, Salt Lake Mining and 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. 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 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.

 

Posted November 13, 2018

Share this news article

MORE or "UNCATEGORIZED"


VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE

March 28, 2024

Additional Drill Results Highlighted by Hole D-380 in Block 6 at Oko West, Intersecting 39.7 m Grading 5.27 g/t Au Including 2.8 m @ 14.18 g/t Au and 13.0 m Grading 10.50 g/t Au

Reunion Gold Corporation (TSX-V: RGD) (OTCQX: RGDFF) is pleased t... READ MORE

March 28, 2024

STLLR Gold’s Tower Gold Project Infill Drilling Continues to Confirm Mineralization at the Jonpol Deposit

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) announces ... READ MORE

March 28, 2024

Hudbay Provides Annual Reserve and Resource Update and Production Outlook

Consolidated copper production is expected to average 153,000i to... READ MORE

March 28, 2024

Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow

Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased t... READ MORE

March 28, 2024

Copyright 2024 The Prospector News