03:53 PM EDT, 06/05/2019 (MT Newswires) -- RNC Minerals (RNX.TO) was down 3.5% when trade was halted around 3.30pm ET, just minutes before the company announced Wednesday another high-grade gold discovery at its Beta Hunt Mine, where it has encountered coarse gold in quartz veins on the level beneath the Father's Day Vein discovery.

According to a statement, an estimated 987 oz of coarse gold has been recovered in 238 kg of rock from a series of veins. It said the accuracy of this estimate at this stage is considered to be +10%/-25% based on the measurement of the estimated gold content for each of the samples by specific gravity determinations. RNC will provide a final estimate of ounces recovered once this material has been processed, it added.

"We are thrilled to have encountered high grade coarse gold in the area below the Father's Day Vein. This most recent discovery provides further support for our geological model that predicts that the areas where the mineralized shear zone and sedimentary sulphides intersect are capable of generating "Father's Day Vein" style coarse gold mineralization, and proves that such areas extend at least 25 metres below the Father's Day Vein discovery," said Mark Selby, President and CEO of RNC Minerals. "We look forward to continued mining in this highly prospective area with the potential to find other veins containing coarse gold. As material developments occur, we will continue to update the market."

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