RNC Minerals Announces High-Grade Gold Results at HGO and Drilling Program at Paleochannel Targets


Paleochannel Project

  • The paleochannel project is an integral component of HGO’s expected Life of Mine Plan, with drilling to date focused on two priority areas within the paleochannel system – Mitchell and Jupiter.
  • The paleochannel system extends for over 7 kilometres south of current mining operations (Fairplay North) and provides multiple exploration targets along its length including extensions of the paleochannel and the hard rock potential at depth.
  • Planning for the first of the high-grade primary gold mineralization targets is underway which will test the continuity of the mineralization below the Jupiter paleochannel.
  • This mineralization, first identified by historical drilling in 2012, had not been followed up because of the prior onerous royalty attached to the tenement, which is now being eliminated (see RNC news release dated May 11, 2020).
  • Drill intersection1, 2 highlights from the Jupiter primary mineralization are listed below:
    – JUPR037: 0 g/t over   2 m downhole from 90 m
    – JUPR025: 2 g/t over   2 m downhole from 64 m
    – JUPR031: 2 g/t over 17 m downhole from 54 m
    – JUPR030: 7 g/t over   7m downhole from 70 m
  1. Estimated true widths are 60%-70% of downhole widths
  2. Intersections previously reported by Alacer Gold Corp. (news release, March 26, 2013).

Pioneer Deposit

  • New drilling by RNC has extended gold mineralization at Pioneer and outlined a high-grade shallow, south plunging shoot which shows clear potential for underground development. Pioneer is part of HGO’s near term mine plan.
    • Highlights from the 2020 drill program include1:
      – PORR0142:   4 g/t over 17.0 m from 67 m, including 10.7g/t over 6.0m
      – PORR0186: 9 g/t over 18.0 m from 60 m
      – PORR0184: 5 g/t over 5.0 m from 97 m, including 16.0g/t over 2.0 m
      – PORR0138: 7 g/t over 9.0 m from 57 m
  1. Estimated true widths (Note: true widths approximate downhole widths).

Baloo Mine extended to South

  • Grade control drilling in the Baloo pit has extended high-grade gold mineralization beyond the pit design at the southern end of the pit.
  • Six follow-up RC holes testing the extension of the mineralization at depth were completed and confirmed the presence of mineralization below the current pit.
    • Highlights from the 2020 drill program include1:
      – BLOR0044: 5 g/t over 3.0 m from 21m
      – BLOR0048: 3 g/t over 2.0 m from 16 m
  1. Drillhole intervals are estimated true widths.
  • The deeper extensions of the Baloo mineralization, below the current pit design, will be tested with infill diamond drilling later in 2020. The historical highlights summarized below underscore the underground potential of this deposit.
  • Highlights of historical gold drill results1, 2 from S2 Resources:
    – SPC0258: 1 g/t over 8.0 m from 106 m
    – SPD0100: 4 g/t over 7.6 m from 125.2 m
    SPD0101:       5.0 g/t over 9.8m from 111.5 m
  1. Drillhole intervals are estimated true widths. (Note: true widths approximate downhole widths).
  2. Intersections previously reported by S2 Resources Ltd. (ASX news releases, February 10, 2016 and December 8, 2016).

Note: Tables showing complete results and drill hole locations can be found at the end of this news release.

RNC Minerals (TSX: RNX) ("RNC" or the “Company" –  https://www.commodity-tv.com/play/rnc-minerals-new-strategy-as-a-gold-company-with-straight-forward-plans/ ) is pleased to announce positive results from ongoing drilling at Higginsville and a further update of our review of historical drill records. As part of the Company’s open pit pipeline development strategy, drilling is now underway at the Jupiter project to be followed by Mitchell, two of the Company’s paleochannel deposit targets.

Paul Huet CEO and Executive Chairman RNC said, “Following the announcement of the elimination the Morgan Stanley NSR royalties last week (see RNC news release dated May 11, 2020), we are excited to be seeing further strong examples of the potential at Higginsville. Not only are we seeing further potential additions to open pit resources, but our ongoing technical review of the historical database has revealed another excellent high-grade target for us to pursue at the Jupiter project.

At Jupiter, the presence of historical drilling grades in excess of 230 g/t over two metres at relatively shallow depths (approximately 60 metres from the surface) highlights the tremendous upside potential at Higginsville. These results follow on from the historic drill results from the Aquarius deposit (see RNC news release date February 27, 2020) which are also high-grade and close to the surface. With the elimination of the Morgan Stanley NSR royalty, these projects will be free of this long-standing burden, which held back exploration and mining at Higginsville for over a decade.

Over the course of 2020, we will continue to aggressively target these new areas as we also test our existing pits for additional ore body extensions. The commencement of drilling on the paleochannel deposits is exciting and we look forward to continuing to build upon the outstanding results that we have delivered thus far at Higginsville in 2020.”

Please find further information in the attachement.

Firmenkontakt und Herausgeber der Meldung:

Swiss Resource Capital AG
Poststrasse 1
CH9100 Herisau
Telefon: +41 (71) 354-8501
Telefax: +41 (71) 560-4271

Jochen Staiger
Telefon: +41 (71) 3548501
E-Mail: js@resource-capital.ch
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