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Leading News Releases
Vancouver, British Columbia–(Newsfile Corp. – August 14, 2019) – MAX RESOURCE CORP. (TSXV: MXR) (FSE: M1D1) (“Max” or the “Company”) is pleased to report that the North Choco Property area has been expanded to the north by strategic staking of approximately 300 sq. km and now encompasses two historic INGEOMINAS gold anomalies. The North Choco Project is located 80 km SW of Medellin, Colombia. Max is acquiring North Choco, through the pending acquisition of Andagueda Mining Pty. Ltd. (see news release of May 8, 2019). Highlights include:
- The historic NW gold anomaly, approximately 5 km long and 4 km wide with a highlight rock sample of 15 g/t and the historic NE gold anomaly, approximately 6 km long and 5 km wide rock with a highlight rock sample of 12 g/t;
- The Nuevo Chaquiro (6.1Moz gold & 3.95Mt Cu) deposit is located 45 km and 35 km respectively, east of the east boundary of the NW and NE anomalies. Max cautions investors that results from nearby properties are not necessarily representative of the mineralization hosted at North Choco;
- Max consultants are currently reviewing data from a recent cloud-stitched Longwave InfraRed (LWIR) survey over the NW and NE gold anomalies prior to commencing next week’s on-ground exploration program;
- Our team has now completed its exploration program over one of the gold-copper porphyry targets, taking 71 samples over a 20 sq. km area and is awaiting assay results; (refer to the figure on page 2)
The location of the two gold anomalies is taken from the INGEOMINAS Map “Mapa De Anomalies Geoquimicas De Colombia”. Max is currently sourcing the historic exploration data for the two gold anomalies. Max has yet to verify this historic exploration information. The Neuvo Chaquiro inferred resource was disclosed in “Discovery and Geology of the Nuevo Chaquiro Cu-Au (Ag-Mo) Porphyry Deposit” by N. Winer, VP Greenfields Colombia, AngloGold Ashanti and undated. Read more…
TORONTO, Aug. 13, 2019 /CNW/ – RNC Minerals (TSX: RNX) (“RNC”) is pleased to announce that a technical report prepared in respect of its gold resource update for the Beta Hunt Mine, Kambalda, Western Australia (“Resource Update”) has been filed under RNC’s profile on SEDAR at www.sedar.com and on RNC’s website at www.rncminerals.com.
This Resource update represents a substantial increase to the mineral resource for the Beta Hunt Mine at a low discovery cost of A$7.30/oz. The Measured and Indicated Resource of 944 koz and Inferred Resource of 406 koz includes current resources for the Western Flanks Zone (see RNC news release dated June 27, 2019) and the A Zone based on the recently completed resource definition drilling program at Beta Hunt.
“This increase in the Beta Hunt resource size is an outstanding result at a low discovery cost of A$7.30/oz. We are aiming to convert these resources into reserves, which we expect will be completed in the fourth quarter. These reserves will support the design of an optimized mine plan and updated production profile for Beta Hunt. The resource remains open down plunge – we expect to continue building on the resource inventory, which will place RNC in a stronger position as we move forward with a systematic review of the entire historical HGO resource inventory.”
Paul Andre Huet, Chairman and CEO
The recently completed resource definition drilling program at Beta Hunt has significantly added to the resource base of the mine by upgrading and extending the mineral resources at Western Flanks and A Zone (Table 1). A total of 16,144 metres of drilling in 135 drill holes were completed at Western Flanks during the current grade control, resource definition and exploration drilling program1. Mineralization at Western Flanks has now been defined across a 1.2 km strike length and to a depth of 150 to 250 metres below the basalt contact. At A Zone, a total of 23,233 metres of drilling in 194 drill holes were completed. Mineralization at A Zone has now been defined across a 1.8 km strike length and to a depth of 200 to 400 metres below the basalt contact. Read more…
RNC Minerals (TSX: RNX) (RNC) is pleased to announce that the integration of the Higginsville Gold Operations (HGO) with its Beta Hunt Mine is progressing as planned with a number of key benefits being realized. Processing costs for Beta Hunt ore are approximately 25% per tonne lower than under prior third-party tolling arrangements. Gold recoveries for Beta Hunt material (processed at HGO and third-party facilities) improved to 93% in Q2 2019 compared to 91% in Q2 2018.
“I am pleased with progress to-date toward a fully integrated Beta Hunt – Higginsville gold operation. The combination of the Higginsville Mill with the production potential of our Beta Hunt mine is expected to provide significant processing flexibility and synergies, including a 25% cost saving per tonne (or in excess of US$100/oz) compared to prior toll milling arrangements. While gold production during the second quarter of 2019 remained lower as we continue to ramp up production following the temporary shutdown of mining activities at Beta Hunt, we are also on track to maintain a production rate of 40-45 kt per month in the third quarter of 2019 while at the same time increasing capital development to prepare the next generation of stope production areas. This, combined with our new milling cost savings and expanded resource base announced during the second quarter, positions RNC for a stronger second half of 2019.”
Paul Andre Huet, Chairman and CEO
- Integration of RNC’s recently acquired Higginsville Gold Operations (HGO) on target, with several key benefits that had been highlighted to shareholders now being achieved, including a 25% reduction in Beta Hunt processing costs. Gold recoveries for Beta Hunt material (processed at HGO and third-party facilities) improved to 93% in Q2 2019 compared to 91% in Q2 2018.
- The HGO acquisition will continue to deliver key operational synergies, resulting in on-going costs savings across the HGO and Beta Hunt sites. Affected areas include: supply costs, personnel, mobile and fixed plant equipment and technical expertise.
- As an illustration of the benefits of the HGO acquisition and mill ownership, RNC recently processed 21 kt of previously stockpiled ore through its HGO Mill, eliminating third party-tolling fees of A$45/DMT and resulting in additional revenue of A$0.9 million
- As previously reported (see RNC news release dated June 17, 2019), the recent exploration program at Beta Hunt has resulted in a 5-fold increase of the Western Flanks Measured and Indicated resource to 710,000 ounces at a discovery cost of less than $5/oz.
- Stope production at Beta Hunt continues to ramp up. Management expects that production rates will maintain 40 to 45 kt per month during Q3.
- At HGO’s Baloo open pit, overburden waste stripping commenced in May 2019. Mined first ore is expected in early August.
- The company has initiated a systematic review of the entire historical HGO Resource inventory. Work to date has been encouraging, clearly highlighting the potential of the HGO tenements. Read more…