RNC continues large gold finds at Beta Hunt

Canadian company RNC Minerals has successfully recovered another impressive gold slab at the Beta Hunt mine in Western Australia, adding to its record-breaking discovery last month.

The 90kg stone has an estimated gold content of around 1000oz. It is the first specimen to be recovered from the Father’s Day vein at RNC’s Beta Hunt mine and will be cut into smaller specimen samples.

RNC last month attracted significant industry attention for the discovery of two stones weighing 96kg and 63kg with a respective gold content of 2440oz and 1620oz respectively.

The two samples were unveiled at the Precious Metals Investment Symposium in Perth, and are expected to be taken on an international tour pending government approval.

This latest discovery, while not a record breaker, is likewise indicative of the site’s strong gold-bearing properties.

Mark Selby, president and chief executive officer of RNC said the specimen slabs would be highly sought after by collectors and that the company was well-placed for funding of the 100 per cent-owned project.

“With a minimum of 30,000-35,000 ounces expected from the Father’s Day Vein area, the company will be in a substantial net cash position to fully fund its upcoming activities,” he said.

“RNC will be able to accumulate smaller specimen stones as these are produced (based on the current faces, we expect that the next firings should generate a substantial number of specimen stones) and begin direct sales of these slabs and smaller specimens to the public, which we expect will allow us to capture the significant premiums above their gold content.”

The Perth Mint has six specimen stones from the Father’s Day vein available for public viewing until the end of October.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.