Canadian company RNC Minerals has successfully recovered a first specimen slab from the top of the Father's Day Vein discovery area at the Beta Hunt Mine.
|The slab discovered at the Father’s Day Vein|
p>The slab, weighing approximately 90kg, was cut in the field, revealing impressive visible gold and quartz structures, and is estimated to contain approximately 1,000 ounces of gold. Final weights and gold content will be determined for each specimen slab once all have been cut. Mining operations are continuing to remove a second large specimen slab from the face of the Father's Day Vein and will extract additional high-grade coarse gold over the coming week.
Mark Selby, President and CEO of RNC, expects that these 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”, he said.
“RNC will be able to accumulate smaller specimen stones as these are produced 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. Once the backlog of coarse gold at the Perth Mint has been processed, we expect to provide production results for the third quarter later next week.”
The Perth Mint has six specimen stones from the Father’s Day vein – weighing almost 200kg in total – available for public viewing until the end of October.