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Royal Nickel Corp.
Summary
| Project: | Beta Hunt Mine | |
|---|---|---|
| Deposit: | Beta Hunt Mine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/23/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-12-2019: Royal Nickel Corp. announces a Resource Estimation report for its Beta Hunt Mine deposit at the Beta Hunt Mine project. Initial mineral reserve for project. Toronto, Ontario, December 23, 2019 – RNC Minerals (TSX: RNX) (“RNC”) is pleased to an | |
| Resources: | (Reserve, P+P): 3.45Mt @ 2.8g/t Au for 310Koz Au contained | |
| CP/QP: | [Overall Report]: Shane McLeay, Stephen Devlin (Entech Pty Ltd.;Internal) | |
| ABSTRACT: | Toronto, Ontario, December 23, 2019 – RNC Minerals (TSX: RNX) (“RNC”) is pleased to announce a maiden Gold Mineral Reserve of 310,000 ounces (3.4 Mt at an average grade of 2.8 g/t; see table 2) at its Beta Hunt gold mine located in Kambalda, Western Australia. The Gold Mineral Reserve forms the basis for Beta Hunt’s mine plan, which schedules base-load feed to the company’s 100% owned Higginsville treatment plant. Along with the Higginsville mine, the company is feeding the 1.4Mtpa plant to 100% capacity. The Maiden Gold Mineral Reserve remains open for potential additions along strike and at depth from both the existing Gold Mineral Resource (underpinning the Mineral Reserve) and from exploration targets that will be drill-tested. These targets will be tested in addition to high-priority targets at RNC’s Higginsville mine following the successful renegotiation of the Morgan Stanley royalty which opens up these areas for immediate exploration (see RNC news release dated December 19, 2019). Paul Andre Huet Chairman and CEO of RNC said, “We are very pleased with the results of the Maiden 2P Gold Reserve at Beta Hunt, which now provides a fundamentally strong basis for a robust production profile moving forward. It is important to note that the Mineral Resource supporting the 2P reserves does not account for any high-grade coarse gold occurrences found at Beta Hunt which we have encountered intermittently in the past. As we have previously stated, these occurrences, when encountered, may provide a boost to production but do not form the basis of our economic mine plan driven by the average grade of the deposit. Additionally, we believe there is incremental upside to be unlocked via both the drill bit and our on-going cost reduction program at site which remains a key focus for the company moving forward.” | |
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