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Royal Nickel Corp
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Royal Nickel drills two m of 1,017 g/t Au at Beta Hunt

2019-01-22 07:04 ET - News Release

Mr. Mark Selby reports


Royal Nickel Corp. has released drilling results received to date from its 100-per-cent-owned Beta Hunt mine. The new underground drill results comprise 46 holes totalling 5,766 metres of drilling that was initiated during the fourth quarter of 2018. Drilling was carried out in both the A zone and Western Flanks areas of the mine, with initial holes focused on more clearly defining the sediment layer in close proximity to the Father's Day vein discovery and, for the first time, testing the sediment layer in Western Flanks. A further 37 holes totalling 4,198 metres have been drilled for which results are pending.

Mark Selby, president and chief executive officer of Royal Nickel, commented: "After the historic Father's Day vein discovery, we have taken steps to test the theory that the newly identified property-wide sedimentary layer carries the potential for further high-grade discoveries in the four main shear zones at Beta Hunt. This potential has been highlighted by one of our first set of holes at Western Flanks targeting the sediment layer in one small section of the shear that yielded a 7,621-gram-per-tonne intersection of coarse gold -- which to our knowledge is the highest-grade drill intersection by any reporting company since 2017 and is located within 45 metres of our existing development. The second high-grade intersection located in the A zone shear just seven metres below the Father's Day vein highlights the potential for further high-grade coarse gold from this shear. RNC is in an enviable position with the recently completed financing, and a 40,000-metre drill program under way to unlock the significant exploration potential at Beta Hunt. A more comprehensive drilling update will be provided in February."

Drilling in Western Flanks targeting sediment layer, resource extension and infill drilling

Thirty-two holes totalling 3,748 metres have been completed to assist in defining the resource and mapping the sediment layer within the Western Flanks shear zone, which hosts the potential for high-grade coarse gold. Assay results have been received for 19 holes totalling 2,350 metres. WFN-029 yielded a drill intersection containing high-grade coarse gold which assayed 7,621 g/t over 0.27 metre (true width) located within 45 metres of existing development. This result, which is the first high-grade coarse gold found at the intersection of the sediment layer within the Western Flanks shear, is consistent with Royal Nickel's interpretation that the newly discovered sedimentary layer carries the potential for multiple new high-grade discoveries.

Key intersections include (all estimated true widths):

  • WFN-017 -- 3.98 g/t over 14.24 metres;
  • WFN-023 -- 4.36 g/t over 10.57 metres, including 7.53 g/t over 5.00 metres and 4.69 g/t over 7.36 metres;
  • WFN-029 -- 1,017.3 g/t over 2.00 metres including 7,621 g/t over 0.27 metre and 6.09 g/t over 8.65 metres;
  • WFN-036 -- 6.86 g/t over 7.28 metres and 4.34 g/t over 9.86 metres.

The 7,621 g/t drill intersection in WFN-029 is, to the company's knowledge, the highest-grade drill intersection by any reporting company since 2017 -- only Kirkland Lake's Fosterville mine and Pretium Resources Brucejack mine have yielded higher-grade intersections over the past four years.

              (Fosterville and Beta Hunt intervals are true width)
Property                  Current owner    Interval       Grade Au              Date
                                                (m)          (g/t)

Brucejack        Pretium Resources Inc.        0.50         37,117      May 12, 2016
Fosterville     Kirkland Lake Gold Ltd.        0.24         21,490     Jan. 17, 2017
Brucejack        Pretium Resources Inc.        0.50         20,287     Jan. 12, 2016
Brucejack        Pretium Resources Inc.        0.50         11,650     April 5, 2016
Brucejack        Pretium Resources Inc.        0.50         10,700     Jan. 12, 2016
Brucejack        Pretium Resources Inc.        0.50          9,200      May 31, 2016
Fosterville     Kirkland Lake Gold Ltd.        0.90          9,115      Nov. 7, 2017
Brucejack        Pretium Resources Inc.        0.50          8,600      Oct. 8, 2015
Beta Hunt                  RNC Minerals        0.27          7,621     Jan. 22, 2019
Brucejack        Pretium Resources Inc.        0.50          6,980     March 8, 2016

Drilling in A zone targeting sediment layer in close proximity to Father's Day vein, resource extension and infill drilling

Fifty-one holes totalling 6,216 metres were completed along the A zone shear in multiple directions from the Father's Day vein and at the northern limit of the A zone resource. Results have been received for 27 holes totalling 3,416 metres. The holes allow the intersection of the sediment and A zone shear to be more clearly mapped, and infill and extend the A zone resource. Hole AZ15-013 returned 1,406 g/t over 0.50 metre true width located just seven metres below the Father's Day vein.

Key intersections include (all true widths):

  • AZ13-145 -- 4.53 g/t over 4.66 metres;
  • AZ15-006 -- 3.73 g/t over 11.77 metres, including 5.59 g/t over 4.79 metres;
  • AZ15-007 -- 3.90 g/t over 9.50 metres, including 12.52 g/t over 0.99 metre and 16.33 g/t over 0.86 metre;
  • AZ15-013 -- 119.37 g/t over 6.4 metres including 1,406 g/t over 0.50 metre;
  • AZ15-019 -- 3.74 g/t over 3.44 metres;
  • AZ15-020 -- 4.02 g/t over 5.58 metres;
  • AZ15-022 -- 3.61 g/t over 11.52 metres, including 4.63 g/t over 6.74 metres and 3.77 g/t over 2.36 metres;
  • AZ15-025 -- 3.60 g/t over 7.49 metres.

Next steps

A more comprehensive drilling release will be provided in February. Future drilling in the 40,000-metre program will increasingly focus on infilling and extending resources in A zone and Western Flanks.

Compliance statement (JORC (Joint Ore Reserves Committee) 2012 and National Instrument 43-101)

The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, vice-president, exploration, of Royal Nickel, a qualified person under NI 43-101.

The technical information in this news release relating to results at the Beta Hunt mine is based on information reviewed by John Vinar, who is a member of the Australian Institute of Mining and Metallurgy. Mr. Vinar is a full-time employee of Salt Lake Mining Pty. Ltd., a 100-per-cent-owned subsidiary of Royal Nickel, and has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking 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.

Drill core sampling was conducted by Beta Hunt personnel. Samples are shipped to SGS Mineral Services of Kalgoorlie for preparation and assaying by 50-gram fire assay analytical method. First sample of each sample submission incorporates a barren rock sample as a flush to clean the lab crusher and pulverizer and as a check for contamination. Analytical accuracy and precision are monitored by the analysis of insertion of additional blank material and certified standards. The lab is also required to undertake a minimum of one in 20 wet screens on pulverized samples to ensure a minimum 90 per cent passing at minus 75 micrometres.

About Royal Nickel Corp.

Royal Nickel has a 100-per-cent interest in the producing Beta Hunt gold mine located in Western Australia where a significant high-grade gold discovery -- the Father's Day vein -- was recently made. Royal Nickel has initiated a 40,000-metre drill program on near-mine exploration targets focused on the Father's Day vein area, results of which will be incorporated into an updated National Instrument 43-101-compliant mineral resource estimate targeted for the second quarter of 2019. Royal Nickel also has a 28-per-cent interest in a nickel joint venture that owns the Dumont nickel-cobalt project, located in the Abitibi region of Quebec, which contains the second-largest nickel reserve and eighth-largest cobalt reserve in the world. Royal Nickel owns a 35-per-cent interest in Orford Mining Corp., a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec.

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