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RNC Minerals begins 40,000 meters of gold drilling at Australia’s Beta Hunt mine

Published: 09:54 28 Nov 2018 EST

Gold bars and the Canadian flag
An RNC Minerals resource update on the Beta Hunt gold drilling is expected in the second quarter of 2019

RNC Minerals (TSE:RNX) (OTCMKTS:RNKLF) said Wednesday that it has begun 40,000 meters of drilling at the Beta Hunt gold mine in Australia.

The Toronto-based company said in a press release that three drills are now operating and that the work is scheduled to be completed by April.

READ: RNC Minerals posts 60% increase in gold output at Beta Hunt mine in Australia

"We are now positioned to unlock Beta Hunt's tremendous potential,” CEO Mark Selby said in a statement.

The first drill is dedicated to the expansion and drill definition of the sediment layer in the shear zone associated with the “Father Days Discovery" in the A Zone area, according to RNC. Most of the coarse-gold production in 2018 has been at that site.

The second drill is at the northern end of the Western Flanks shear for definition drilling of the main shear and the recently identified sediment layer. The third drill will be used for two purposes: tight infill drilling in the sediment zones and resource infill drilling of the main shear zones.

A resource update on the drilling is expected in the second quarter of 2019, according to RNC.

Earlier in November, the company said it had mined 71,957 ounces of gold at Beta Hunt this year through October 31, a 60% increase compared with the same period in 2017.

Shares of RNC were unchanged at C$0.53 in Wednesday’s Canadian trading. They were little changed at US$0.40 on the OTC market.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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