Beta get hunting: major new gold zone discovered in Australia
Royal Nickel Corporation...
A major new gold zone has been discovered in Western Australia at the Beta Hunt mine, the third major gold zone at the mine.
Royal Nickel Corporation (RNC) announced the discovery of the now dubbed Fletcher shear zone following a drill hole specifically designed to test this once unknown mineralised zone co funded by the Government of Western Australia as part of the country’s wider Exploration Incentive Scheme.
“The upside exploration potential of Beta Hunt is underscored by the results from the latest drill hole which not only discovered the Fletcher shear zone - the third major gold zone at Beta Hunt - but also returned wider and higher grade intersections than the current block model when it intersected the existing Western Flanks zone,” said Mark Selby, President and CEO of RNC.
Mr Selby also highlights how the location of the new zone will open up huge potential for increasing the company’s gold output.
“Fletcher lies within 300 metres of existing development and has the potential to significantly increase gold resources at Beta Hunt as the structure is similar in width to the existing Western Flanks zone. It also has the potential to extend over 2 km from the Alpha Island Fault to the northwest sub-lease boundary,” said Mark Selby, President and CEO of RNC.
The Exploration Incentive Scheme (EIS) is a State Government initiative that aims to encourage exploration in Western Australia for the long-term sustainability of the State’s resources sector.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.