RNC Minerals Announces Multiple High-grade Gold and Copper Intersections at the Esperance Zone on Orford Mining's Qiqavik Property Français
TORONTO, Nov. 15, 2017 /CNW/ - RNC Minerals (TSX: RNX) ("RNC") is pleased to announce that Orford Mining Corporation (TSX-V: ORM) (55% owned by RNC) has received the outstanding base metal assay results from the summer 2017 drilling and prospecting program on its 100% controlled Qiqavik Project in northern Quebec. Results show that high-grade copper is associated with the gold mineralization intersected in drilling at the Esperance West Zone and previously reported in RNC's news release of October 30, 2017.
Highlights from the new results include:
- 2.37 g/t Au and 2.19% Cu over 7.0m core length in QK-17-022, including 5.58g/t Au and 3.06% Cu over 1.0m
- 1.58 g/t Au and 1.28% Cu over 7.1m core length in QK-17-021, including 3.62 g/t Au and 2.04%Cu over 1.1m.
David Christie, President and CEO of Orford, commented, "We are very encouraged by these new results, which highlight the polymetallic nature of the western portion of the Qiqavik trend. At current prices, these new copper results more than double the gold equivalent grades of the mineralization intersected in these holes at Esperance West, yielding gold equivalents of up to 6.1g/t over 7m core length. These results further support the tremendous potential of this new gold belt located in a previously unexplored region of Canada."
Multi-element results from holes QK-17-017, -019, -020, -021, -022, -028 and -029, and from 116 grab samples that were noted as pending in Orford Mining's news release dated October 26, 2017 have been received. A summary of significant new copper assays is presented below. A table of the complete results can be accessed at Table 2. Note that drill intervals reported in this news release are down-hole core lengths as true thicknesses cannot be determined with available information. Also note that grab samples are selective by nature and values reported may not be representative of mineralized zones.
These new drilling results continue to support the subsurface extent of the structures and the Au-Cu-Co mineralization discovered at Esperance West.
Work completed during the 2017 program demonstrates that gold and copper is associated with secondary splay structures located along the district-scale Qiqavik Break Shear Zone, which extends the full 40 km length of the Qiqavik Property. Geological data indicate that gold mineralization at Qiqavik is structurally controlled and associated with porphyry intrusions in places. Typically, in structurally controlled gold deposits, the intensity of mineralization varies along the length of the structures with ore shoots focused in zones of dilation. Orford is currently analyzing airborne magnetic and field mapping data collected during the summer 2017 program to identify and locate sites of dilation along structures that were active at the time of gold mineralization in order to target significant gold mineralization accumulations.
The Qiqavik Break is part of the Cape Smith Belt event which is of Paleoproterozoic age (1.8-1.9 billion years). This geologic era is marked by its significant metal endowment as illustrated by the important gold districts that occur worldwide related to geological events of Paleoproterozoic age. These include the Flin Flon-Snow Lake Belt, the Ashanti Gold Fields of West Africa, the Tapajos-Parima Belt of Brazil, and the Tanami Region in Australia.
Table 1: Highlights of new Cu results from 2017 Exploration Drilling at Esperance West1
| Hole |
From |
To |
Core |
Au* |
Cu |
Co |
Au |
Cu |
|
| equiv. |
% |
||||||||
| Length (m) |
g/t |
% |
% |
g/t |
|||||
| QK-17-021 |
32 |
39.1 |
7.1 |
1.59 |
1.28 |
0.03 |
3.78 |
2.21 |
|
| Including |
33 |
34.1 |
1.1 |
3.62 |
2.04 |
0.02 |
7.12 |
4.15 |
|
| And |
45 |
46.5 |
1.5 |
4.65 |
0.15 |
0 |
4.91 |
2.86 |
|
| And |
62 |
63 |
1 |
1.58 |
0.14 |
0.01 |
1.82 |
1.06 |
|
| QK-17-022 |
28 |
35 |
7 |
2.37 |
2.19 |
0.02 |
6.12 |
3.57 |
|
| Including |
29 |
30 |
1 |
5.21 |
2.67 |
0.01 |
9.79 |
5.71 |
|
| And including |
33 |
34 |
1 |
5.58 |
3.06 |
0.02 |
10.83 |
6.32 |
|
| And |
39.5 |
40 |
0.5 |
4.26 |
0.26 |
0.02 |
4.71 |
2.75 |
|
| And |
41 |
42 |
1 |
2.31 |
0.09 |
0.01 |
2.46 |
1.44 |
|
| And |
59 |
60 |
1 |
4.75 |
0.10 |
0.06 |
4.92 |
2.87 |
|
| And |
And |
62 |
63 |
1 |
0.94 |
0.33 |
0.01 |
1.51 |
0.88 |
| And |
And |
84 |
85 |
1 |
1.07 |
0.04 |
0.06 |
1.14 |
0.66 |
| QK-17-019 |
94 |
95 |
1 |
1.05 |
0.14 |
0.005 |
1.06 |
0.62 |
| * |
Au Results Previously Reported News Release Dated October 26, 2017. |
| 1 |
Indicated lengths are reported as apparent thickness along the core and do not represent true thickness of the mineralized intersections. True thicknesses are unknown. Au equivalent and Cu equivalent values calculated using a Au price of US$1,200/oz and a Cu price of US$3.00/lb. Drill hole location and orientation details available in the 43-101 Technical Report on the Qiqavik Property filed under Orford's profile on SEDAR and on Orford's website. |
Esperance
At Esperance, drilling has outlined two Au-Cu-Co sulphide-rich mineralized zones, Esperance and Esperance West, that extend over a known strike length of 300m and 650m respectively (Figure 2; see also Orford Mining news release dated October 26, 2017). New copper results in drilling from Esperance West include 2.37 g/t Au and 2.19% Cu over 7.0m core length in QK-17-022, including 5.58g/t Au and 3.06% Cu over 1.0m, and 1.58 g/t Au and 1.28% Cu over 7.1m core length in QK-17-021, including 3.62 g/t Au and 2.04%Cu over 1.1m. Holes QK-17-021 and QK-17-022 were drilled from the same set-up on the same section. The intersection in QK-17-022 is approximately 20 m down-dip from the intersection in QK-17-021.
The polymetallic mineralized trend continues West of Esperance along the Qiqavik Shear Zone where the new Horizon discovery has yielded 5.67 g/t Au and 0.38% Cu over 0.9m in a channel sample at a distance of 1.8 km west of QK-17-021 and -022.
Qualified Person and Quality Assurance and Quality Control
The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, P.Geo, Vice President, Exploration of Orford, a Qualified Person under NI 43-101.
The work program at Qiqavik was supervised by Michelle Sciortino, Senior Project Geologist who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project log and weigh all samples prior to sealing and shipping. Sample shipments are sealed and shipped to Techni-Lab, Sainte-Germaine-Boulé, Québec. All gold assays reported were obtained by either 350-g screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish (method 1A2-5 and 1A3-50) at. The 350-g screen assay method is selected by the site geologist or the lab when samples contain coarse gold or higher percentage of sulfide mineralization that may be associated with gold relative to surrounding intervals. All samples are also analyzed for multi-elements, including copper and silver, using a four-acid method with an ICP-EOS and ICP-MS finish at Techi-labs affiliated Actlabs in Ancaster, Ontario. Overlimits were analyzed by peroxide fusion with ICP-EOS finish. Drill program design, Quality Assurance/Quality Control ("QA/QC") and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are inserted at a minimum of 10% and 5% for core and grab samples respectively for QA/QC purposes in addition to those inserted by the lab. A subset of samples has not yet been sent for a verification assay at another lab.
Techni-Lab Laboratory, is a subsidiary of Act Labs, is accredited (n. 707) by the Standards Council of Canada and found to comply with the requirements of ISO/IEC 17025:2005 (CAN-P-4E) and CAN-P-1579.
About RNC Minerals
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. Through its majority stake in Orford Mining Corporation (TSX-V: ORM), RNC also has interests in the West Raglan and Qiqavik projects in Northern Quebec and properties in the U.S. Carolina Gold Belt. 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 as well as the and the potential of the Dumont development project and Qiqavik, West Raglan, Jones-Keystone Loflin and Landrum-Faulkner exploration properties.
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, including the most recent Annual Information Form, 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.rncminerals.com
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