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Royal Nickel Corp

RNC Minerals reports 'excellent' gold production from Beta Hunt mine during July

RNC's chief executive said: "Material processed during July was comprised of Beta Hunt mined and stockpile, with excellent recoveries in the 92-94% range"

RNC Minerals -
Output for the month came in at 7,873 ounces of the yellow metal, the firm said in a statement

RNC Minerals (TSE:RNX) reported 'excellent' production from its Beta Hunt gold mine in Australia during July - the first full calendar month of consolidated operations following  the group's acquisition of the Higginsville Gold Operation (HGO).

Output for the month came in at 7,873 ounces of the yellow metal, the company said in a statement.

Noting that the firm had promised to make more regular updates, Paul Andre Huet, RNC's chief executive, said: "Material processed during July was comprised of Beta Hunt mined and stockpile, with excellent recoveries in the 92-94% range.

"With the addition of HGO open pits, having a combination of feed sources provides the opportunity to blend feeds and optimize throughput and recoveries without having to clean out the entire mill."

Huet added that with Baloo open pit production also having started in early August, the firm was looking forward to the continued strong performance of the HGO mill and that it expected to provide production guidance in coming weeks.

The Toronto-based miner acquired Higginsville in June this year to reduce milling costs for the firm's Beta Hunt mine.

As well as a processing mill, Higginsville Gold includes a 367,000-ounce historical reserve within a 1.2 million ounce historical measured and indicated gold resource on a 386 sq km land package in the Kalgoorlie gold region.

Shares in Toronto zoomed up over 11% to $0.49 each.

Contact the author at [email protected]

---Updates for share price rise---

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RNC Minerals undergoing a 40,000 meter drilling campaign on gold project

RNC Minerals (CVE: RNX) CEO Mark Selby spoke with Proactive Investors at the Prospectors & Developers Association of Canada in Toronto. The company has a 100% interest in the Beta Hunt gold mine located in Western Australia. RNC is currently completing a 40,000 metre drill program, the...

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