Saturday, 17 November, 2018

Beta Hunt mine yields 9000 oz of high-grade coarse gold

The discovery in town that was built on the nickel mining industry has been described as'incredibly unique The discovery in town that was built on the nickel mining industry has been described as'incredibly unique
Laurie Berry | 13 September, 2018, 11:52

A mine in the State of Western Australia has uncovered a rare and extensive pocket of gold, so far estimated to be worth over 10 million USA dollars.

The coarse high-grade gold included around 190kg of specimen stone, including a 95kg specimen stone containing an estimated 2440oz and a 63kg stone containing roughly 1620oz.

Henry Dole, the miner credited with finding the gold, said "Never in my life have I seen anything like this".

Senior geologist Zaf Thanos said in most mines around the world it was only possible to see gold through a magnifying glass.

The high-grade gold (coarse gold and large gold-containing specimen stones) comprises approximately 190 kg of specimen stone, of which the largest is 95 kg with an estimated gold content of 2440 oz and a second large specimen stone of 63 kg with an estimated gold content of 1620 oz.

RNC began a sale process for its Beta Hunt mine in March before this latest discovery.

Previous bonanza grade specimen stone occurrences at Beta Hunt, says the company, were associated with the nickel-sulphide bearing contact between the Lunnon Basalt and the overlying Kambalda Komatiite, where RNC and previous operators have mostly mined nickel.

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"I've seen it in veins in the face but nothing like this - this was just everywhere", he said. "When you look at nuggets, which are a solid piece of gold, the biggest are around 2,000 ounces, so this is right up there in terms of the largest specimens we've ever seen". "But we bought it because there were a bunch of gold deposits sitting beneath it".

The largest gold nugget was discovered 500 meters below the surface in an area just three meters wide and three meters high.

The 45-year-old Beta Hunt gold mine is located 600km east of Perth and 50km south of Kalgoorlie-Boulder.

Armed guards have been transporting the gold to a secure vault.

"I flip my phone on and find out", he said.

RNC's Toronto-based chief executive Mark Selby said the gold rush-style find was uncommon in the modern day, at a time when miners are producing gold at lower and lower grades. "Obviously with this find going forward we won't have any shortage of capital to make that happen and we think we'll have a very long bright future to build a very big mine at Beta Hunt going forward".

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