- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
RNC Minerals Recovers 90-kilogram Specimen Slab from Beta Hunt
RNC Minerals has unearthed a 90-kilogram specimen slab from the Father’s Day vein at its Beta Hunt mine. It is estimated to contain up to 1,000 ounces of gold.
Fresh off a major discovery, RNC Minerals (TSX:RNX) has recovered the first specimen slab from the Father’s Day vein at its Beta Hunt mine in Western Australia.
Weighing in at 90 kilograms, the slab is estimated to contain 1,000 ounces of gold.
Cut in the field, the slab shows visible gold and quartz structures; going forward, the slab will be cut into smaller specimen slabs to highlight coarse gold and other mineral features. Once all the slabs have been cut, final weights and gold content will be determined for each.
Mining operations to remove a second large specimen slab from the Father’s Day vein are still ongoing, with the expectation that additional high-grade coarse gold will be extracted over the next week.
“We expect that these spectacular specimen slabs will be highly sought after by mineral specimen collectors. With a minimum of 30-35,000 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,” RNC President and CEO Mark Selby said in a statement.
RNC Minerals discovered the Father’s Day vein last month, unearthing over 9,000 ounces of gold from a space the size of a living room. The find was later boosted to 24,000 ounces of gold worth $38 million.
While the company had previously put Beta Hunt up for sale in March, later selecting a preferred bidder in July, the major September news made RNC reconsider its options for the mine.
“The for sale sign is off the lawn,” Selby previously told the Investing News Network. “We think it has the potential to be a very large, long-life gold asset and a great addition to the Kambalda-Kalgoorlie area.”
Image courtesy of RNC Minerals.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.
The Beginner’s Guide to Investing in Gold (Australia Edition)
Ready to invest in gold? Our beginner's guide makes it simple to get started.
Download your investing guide today.
Learn About Exciting Investing Opportunities in the Gold Sector
Your Newsletter Preferences
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
A graduate of Durham College's broadcast journalism program, Olivia has a passion for all things newsworthy. She got her start writing about esports (competitive video games), where she specialized in professional Call of Duty coverage. Since then, Olivia has transitioned into business writing for INN where her beats have included Australian mining and base metals.
Learn about our editorial policies.