RNC Minerals Inc (TSE:RNX) has released positive new drill results from its Higginsville operation that highlight the potential at the Western Australia property.
Drilling at the Pioneer gold deposit on the project extended the mineralization and identified a shallow-plunging high-grade shoot that shows potential for underground development. Results include intersections of 5.4 grams per ton (g/t) gold over 17 metres from 67 metres, including 10.7 g/t over 6 metres.
At the company’s paleochannel project, drilling is focused on two priority targets within the system after RNC eliminated an “onerous” net smelter royalty (NSR) attached to the project. Intersections from one target, Jupiter, included results of 234 g/t over 2 metres downhole from 90 metres and 39.2 g/t over 2 metres downhole from 64 metres.
A paleochannel is a remnant of an inactive river or stream channel that has been filled or buried by younger sediment. Paleochannel gold deposits are made up of both ancient placer gold and chemically precipitated secondary gold and are commonly adjacent to primary mineralized zones within Archaean bedrock.
CEO Paul Huet said the company was excited to see further strong examples of Higginsville’s potential following the announcement of the elimination the Morgan Stanley NSR royalties last week.
“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,” Huet said in a statement.
“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 which are also high-grade and close to the surface.”
RNC plans to aggressively target these new areas as it tests its existing pits for additional ore body extensions. Drilling is currently underway at the Jupiter and Mitchell paleochannel targets as part of the company’s open pit pipeline development strategy.
“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,” Huet added.
In addition, the Toronto-based company said it had extended high-grade gold mineralization at the Baloo Mine beyond the existing pit design at the southern end of the pit. The deeper extensions of the Baloo mineralization will be tested with infill diamond drilling later in 2020, RNC added.
Highlights from the 2020 drill program on the property include 5.5 g/t over 3 metres from 21 metres and 7.3 g/t over 2 metres from 16 metres.
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