TORONTO, Oct. 18, 2017 /CNW/ - RNC Minerals Corporation ("RNC") (TSX: RNX) reports that Beta Hunt mined gold production increased by 27% to 10,489 ounces in the third quarter versus the second quarter of 2017.
Mark Selby, President and CEO of RNC, commented, "I am very pleased with the continued robust quarter-over-quarter performance improvement in Beta Hunt mine production to record levels underpinned by strong improvement in both tonnes mined and grade. The mine exited the quarter with annualized gold production for the month of September exceeding 54,000 ounces and gold grades of 2.53 g/t. We expect continued robust improvements in throughput and grade during the current quarter."
Gold ounces mined during the third quarter increased by 27% to 10,489 ounces. For the full third quarter 146 kt tonnes were mined at an average grade of 2.24 g/t, improvements of 18% and 7%, respectively, compared to the second quarter of 2017.
During the third quarter, 182.3 kt of production was milled at an average grade of 2.23 g/t, increases of 86% and 8%, respectively, compared to the second quarter. Gold recovery was 90% in the third quarter, unchanged from the second quarter. Gold sales during the quarter increased from the second quarter by 47% to 8,659 ounces. One toll was not completed until after the end of the quarter. As a result, the growth in ounces sold is not as high as the nearly 100% growth in ounces milled during the quarter.
Mined nickel production during the third quarter was 8.3 kt and milled production was 10.2 kt at a mill grade of 2.84%. Nickel in concentrate production was 0.25 kt during the third quarter, an increase of 6% compared to the prior quarter.
Beta Hunt Mine Q3 2017 Operating Results
| Beta Hunt Gold and Nickel Operation1 |
Q2 2017 |
Q3 2017 |
Q2 to Q3 % Change |
Sep |
| Gold tonnes mined (000s) |
123.1 |
145.5 |
+18% |
55.4 |
| Gold mined grade (g/t)3,4 |
2.09 |
2.24 |
+7% |
2.53 |
| Gold mined (ounces)2,3,4 |
8,281 |
10,489 |
+27% |
4,508 |
| Gold tonnes milled (000s) |
98.1 |
182.3 |
+86% |
86.9 |
| Gold mill grade (g/t) |
2.07 |
2.23 |
+8% |
2.13 |
| Gold Recovery (%) |
90 |
90 |
- |
89 |
| Gold milled (ounces) |
6,535 |
13,047 |
+100% |
5,939 |
| Gold sales (ounces)1 |
5,891 |
8,659 |
+47% |
2,242 |
| Nickel tonnes mined (000s) |
10.1 |
8.3 |
-18% |
2.3 |
| Nickel tonnes milled (000s) |
9.6 |
10.2 |
+6% |
2.9 |
| Nickel mill grade, nickel (%) |
2.84 |
2.84 |
0% |
2.86 |
| Nickel in concentrate tonnes (000s) |
0.24 |
0.25 |
+6% |
0.07 |
| 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 September 30, 2017, 43.5 kt of gold mineralization from Q3 2017 production remained on the ROM pad for tolling in the subsequent quarter, compared to 80 kt of gold as of June 30, 2017 |
The disclosure of scientific and technical information contained in this news release has been approved by Kevin Small, Director, Mining Operations of RNC, a Qualified Person under NI 43-101.
About Royal Nickel Corporation
RNC is a multi-asset mineral resource company with a portfolio of gold and base metal production and exploration properties. RNC's principal assets are the producing Beta Hunt gold and nickel mine in Western Australia, a 50% interest in a nickel joint venture with Waterton that holds the Dumont Nickel Project in the Abitibi region of Quebec, and a 30% stake in the producing Reed Mine in the Flin Flon-Snow Lake region of Manitoba, Canada. RNC also owns a majority interest in the West Raglan and Qiqavik projects in Northern Quebec. RNC has a strong management team and Board with over 100 years of mining experience at Inco and Falconbridge. 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.
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; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash 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 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.
SOURCE RNC Minerals
Rob Buchanan, Director, Investor Relations, T: (416) 363-0649, www.royalnickel.com
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