RE:RNX will prioritize accrued development & productionPierre,
I may add the following
- 7m below FDV: What Mark Selby said in today's NR
"....in line with our previously announced ramp down. Development is now sufficiently advanced to allow mining activities to begin this month underneath the Father's Day Vein Discovery on 16 Level. This development will target a 1,406 g/t intersection sitting just 7 metres below the Father's Day Vein area."
can be seen in Figure 3 of the 22 Jan 2019 NR. This Figure shows hole AZ15-013, the yellow dot some 7m below the blue FDV "life-saver". The distance between the brown stub on 15 Level (near hole AZ15-025) to the area underneath FDV is less than 50m (~40m). It should not take long to extend that ramp to where they want to get at the high grades near hole AZ15-013 (they had months to do thia) .Note also that holes AZ15-025/028/029 just underneath the ramp all have grades over 3gpt.
- Figure 4, 22 Jan 2019 NR: This figure shows hole AZ15-013 7m below FDV. The hollowed area/volume (in white) is presumably the mined out are of FDV. It's understood that RNX has only PARTIALLY mined this area, and the dark brown area depicts the remaining mineralized portion (to be mined later). Does anyone know if this area will be mined along with the area around hole AZ15-013. If there are no issues with the UG structure integrity, perhaps they could reach up another 10m to bring down a few more King Henry boulders?
- The WFN: The area around hole WFN-029 is another area with bonanza grades. See Fig 2 and Fig 3 of the 2 May 2019 NR.
On a napkin math: RE= 400m (L) x 500m(D) x 80m(Width) x 2.7x 3.1gpt/31 = 4.3 MozAu.
For a strike length of 200m and depth of 250m, the RE would be reduced by a factor of 4, giving
RE= ~1MozAu.
If the grade is a factor of 2 higher (say over 6gpt), keeping the L and D at 200m and 250m, then the RE = 2 MozAu, etc... (for WFN alone).
In summary, the revised RE (for both WFN and A-zone) would be expected to be significantly over and beyond the current JORC RE of ~0.4 MozAu total for both the A-zone and the WFN.
GH11
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pierreg wrote: If you read between the lines of the news release, RNC Minerals will prioritize accrued development and production with HGO mill and mining below FDV and want to fast track their growth and profitability. Mining under FDV has been long awaited since the specimen’s discovery and 1,406 g/t intersection sitting just 7 metres below the Father's Day Vein area & the mill deal gives access to a USD $100 per ounce saving on AISC.