Mr. Rob Buchanan reports
RNC MINERALS ANNOUNCES UPDATE IN MINERAL RESOURCE AT ITS BETA HUNT MINE
Royal Nickel Corp. has released an updated mineral resource estimate as at Dec. 31, 2017, for its Beta Hunt gold mine in Western Australia.
Highlights of Dec. 31, 2017, mineral resource estimates:
- Indicated resources increased to 239,000 contained gold ounces (2,353,000 tonnes at 3.2 grams per tonne gold), compared with the prior indicated resources of 92,000 contained gold ounces (815,000 t at 3.5 g/t Au).
Inferred resource decreased to 208,000 contained gold ounces (2.04 million t at 3.2 g/t Au), compared with prior inferred resource of 321,000 contained gold ounces (2.91 million t at 3.4 g/t Au). This reduction is mainly due to conversion of inferred resource to indicated classification and mining depletion.
- Beta Hunt mined 968,000 t containing 74,203 gold ounces (968,000 t at 2.4 g/t Au) from Feb. 1, 2016, to Dec. 31, 2017.
"The Beta Hunt team achieved our objectives of improving the grade reliability of our resources and successfully increasing resources net of depletion. Our deeper exploration drilling has indicated improving grades with depth, which should improve overall mineral resource grade in future updates," said Mark Selby, president and chief executive officer of Royal Nickel.
Mineral resource estimate
The indicated mineral resources at the Beta Hunt mine increased compared with the prior estimate described in the Beta Mine PEA dated March 4, 2016, due to infill and exploration diamond drilling completed during this period.
Inferred mineral resources decreased at Beta Hunt primarily as a result of mining depletion and reclassification to the indicated resources category as a result of infill drilling.
The associated table provides a breakdown of the estimated mineral resources as of the dates set forth therein.
BETA HUNT GOLD MINERAL RESOURCES AS AT DEC. 31, 2017
Resource Indicated Inferred
Kt g/t Koz Kt g/t Koz
A zone (1) (2) (3) (4) (5) 672 3.4 75 997 3.1 97
Western Flanks (1) (2) (3) (4) (5) 1,513 3.0 145 812 3.3 85
Western Flanks East
(A zone Sth) (1) (2) (3) (4) (5) 136 3.7 16 84 3.3 9
Beta (1) (2) (3) (4) (6) 32 3.3 3 147 3.4 16
Total 2,353 3.2 239 2,040 3.2 208
(1) Mineral resources are not mineral reserves and do not have
demonstrated economic viability. There is no certainty that
all or any part of the mineral resources estimated will be
converted into mineral reserves.
(2) The mineral resource estimates include inferred mineral
resources that are normally considered too speculative
geologically to have economic considerations applied to them
that would enable them to be categorized as mineral reserves.
There is also no certainty that inferred mineral resources
will be converted to measured and indicated categories through
further drilling, or into mineral reserves once economic
considerations are applied. Mineral resource tonnage and
contained metal have been rounded to reflect the accuracy of
the estimate, and numbers may not add due to rounding.
(3) Gold mineral resources are reported using a 1.8 g/t Au
(4) Mineral resources described here are based on information
compiled by John Vinar, geology manager for Salt Lake Mining
Pty. Ltd. Mr. Vinar is an employee of Salt Lake and is a
member of the Australasian Institute of Mining and Metallurgy
(5) Mineral resource estimate as of Dec. 31, 2017.
(6) Comprises two model areas -- Western Flanks South (March, 2017,
estimate, depleted for mining to March, 2017); Beta (2016 PEA
resource estimate depleted for mining to August, 2016).
Compliance statement (JORC 2012 and National Instrument 43-101)
The technical information in this news release is based on information contained in updated technical reports for the A zone, Western Flanks and Western Flanks East mineral resources produced in accordance with the 2012 edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves" by Salt Lake Mining staff. This technical information has been reviewed by Mr. Vinar. Mr. Vinar has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a competent person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." Mr. Vinar consents to the inclusion in this news release of the matters based on this information in the form and context in which it appears.
Kevin Small, PEng, director, mining operations, is a qualified person as defined in National Instrument 43-101 and has reviewed and approved disclosure of the mineral resource technical information and data for the Australian asset included in this news release.
About Royal Nickel Corp.
Royal Nickel is a multiasset mineral resource company with a portfolio of gold and base metal production and exploration properties. Royal Nickel's principal assets are the producing Beta Hunt gold and nickel mine in Western Australia, a 50-per-cent interest in a nickel joint venture with Waterton that holds the Dumont nickel project in the Abitibi region of Quebec, and a 30-per-cent stake in the producing Reed mine in the Flin Flon-Snow Lake region of Manitoba, Canada.
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