Royal Nickel Corp. RNKLF

Report exceeded guess, +2.8 million oz this week

[Geodan2]

So we have picked up about 2.8 million gold oz on last month for RNC between this and HGO. And they say finding cost of $5 an oz. It gapped up may or may not fill the gap. Being this is just one shear they are reporting and they have not looked downward appears that the BH mine likely has over 10 million oz of gold that is profitable to mine.

 

"This increase in resource size is an outstanding result and confirms the exploration potential we always believed existed at Beta Hunt. Today's 710 koz Measured and Indicated resource with a further 250 koz Inferred resource comes from just over one kilometer of strike length on a single shear complex in the Western Flanks, which we believe represents only a fraction of the mine's overall potential," said Mark Selby, President and CEO of RNC Minerals. "I look forward to the results of the remaining 5,000 metres of the current exploration program now underway which will begin testing the other three shears that occur over a potential strike length of more than four kilometres and where gold mineralization has been outlined by historic drilling."

 

OK that again confirms Starr on 16 kilometers of shear at BH not 8km total. So not 4x2km it is 4x4km. On the 10+ million oz at BH if this grade happens over 16 km that would be 16 million oz, BUT this is just the upper part, they have not looked down. "Western Flanks structure remains open to the north and at depth with good grade and thicknesses of mineralization at the margins of the resource including the deepest and northernmost hole from the current campaign (WFN-083) that yielded 6.3 g/t over 13.9 metres (estimated true width)"

 

I do think this section at WF is better than average for the mine for bulk ore, but there could be more below that what they found so would not be shocked at 10+ million oz being there.

 

Cheers