06 Jun RNC Minerals makes second high grade gold discovery at WA mine
RNC Minerals has struck gold once again at the Beta Hunt mine in Western Australia, recovering an estimated 987 ounces of course gold from 238 kilograms of rock – worth around US$1.3 million at today’s gold price.
This is the Canadian mining firm’s second high profile discovery in nine months at the Beta Hunt mine, after it recovered a 90-kilogram stone with a gold content of 1,000 ounces at the Father’s Day Vein in October last year.
Only month earlier that that, the company also discovered two stones weighing 96 kilograms and 63 kilograms with a gold content of 2,440 ounces and 1,620 ounces, respectively.
“We are thrilled to have encountered high grade coarse gold in the area below the Father’s Day Vein,” said RNC’s CEO Mark Selby.
“This most recent discovery provides further support for our geological model that predicts that the areas where the mineralised shear zone and sedimentary sulphides intersect are capable of generating Father’s Day Vein-style coarse gold mineralisation, and proves that such areas extend at least 25 metres below the Father’s Day Vein discovery.
“We look forward to continued mining in this highly prospective area with the potential to find other veins containing coarse gold. As material developments occur, we will continue to update the market,” he added.