Summary
Historical Database Review – Corona Project
- RNC's ongoing review of Higginsville Gold Operations ("HGO") historical mineral resources and drill results has confirmed the potential of the Corona deposit as a future high-grade open pit and/or underground operation.
- All drilling intervals are down-hole lengths. Estimated true widths are expected to range from 60 to 70% of the downhole lengths.
- Intersections previously reported by Alacer Gold Corp. (news release, May 7, 2012 and August 1, 2012 ).
- The Corona mineralization remains open up-dip, along-strike and down-dip
- The Higginsville Resource Review has also identified further high grade targets for follow-up analysis and drilling at Hidden Secret and other prospects.
Hidden Secret and Mousehollow Drilling
- Recent RNC drilling has extended mineralization at the Hidden Secret (HDS) and Mousehollow (MOH) projects, which now form part of RNC's near-term mine plan.
- Estimated true widths.
- Visible gold has been discovered in a surface sample taken at the Hidden Secret project.
TORONTO , Feb. 27, 2020 /CNW/ - RNC Minerals (RNX.TO) ("RNC" or the "Company") is pleased to announce initial results from the 2020 exploration program at its Higginsville ("HGO") operations. Recent drilling at Hidden Secret and Mousehollow has returned strong results, driving the expansion of proposed open pit dimensions at both projects. As part of an ongoing review of the historic drilling database at Higginsville, high grade drill intersections have been revealed at the Corona prospect which is located 2.5km from the Higginsville mill. Additionally, RNC is also pleased to announce the discovery of visible gold in a surface sample taken at the Hidden Secret project.
Paul Andre Huet , Chairman & CEO, commented: "The early results of our recent drilling and historical data review at Hidden Secret, Mousehollow and Corona are very positive for the growing project pipeline at HGO.
As part of RNC's due diligence process during the acquisition of HGO last year, it became apparent that little exploration had been carried out across the property for many years, largely due to the onerous royalty covering a large portion of the tenements. The willingness of Morgan Stanley to work with us to reduce the royalty burden has opened up HGO for a renewed exploration program providing us economic incentive to explore and develop these areas to benefit all our stakeholders. While these early results are encouraging, work has only just begun and we are looking forward to the results of our renewed exploration focus on the recently unlocked 1,800km2 Higginsville land package."
Recent Hidden Secret and Mousehollow Drilling
Hidden Secret and Mousehollow are located within the Eundynie historical mining centre 10 km east of the HGO processing plant with mine workings dating back to the early 1900s (see Figure 1).
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