RNC Minerals has unearthed its second high-grade gold discovery in nine months at the Beta Hunt mine near Kambalda, Western Australia.
An estimated 987 ounces of coarse gold has been recovered in 238 kilograms of rock from a series of veins, worth approximately $1.9 million at today’s gold price.
The discovery continues what has been a successful period for the Canadian company, after finding a 90-kilogram stone with a gold content of 1000 ounces in October last year at the Father’s Day vein at the Beta Hunt mine.
Just a month earlier than that, it also discovered two stones weighing 96 kilograms and 63 kilograms with a gold content of 2440 ounces and 1620 ounces, respectively.
The most recent breakthrough was made 25 metres beneath the Father’s Day vein discovery, which offers hope for other large gold recoveries in the region, according to RNC chief executive officer Mark Shelby.
“This most recent discovery provides further support for our geological model that predicts that the areas where the mineralised shear zone and sedimentary sulphides intersect are capable of generating ‘Father’s Day Vein’ style coarse gold mineralisation,” he said.
“We look forward to continued mining in this highly prospective area with the potential to find other veins containing coarse gold. As material developments occur, we will continue to update the market.”
RNC has advanced mining along the shear below the Father’s Day Vein discovery, which has been driven by its geological model.
This predicts that Father’s Day Vein style coarse gold is likely to occur where mineralised shears intersect with sedimentary sulphides.
The veins that were discovered were mined out in the 16 level ore drive that the company will continue to advance over the coming weeks.