Excitement around Kambalda discovery in North America
The Father's Day vein, named after the day of its discovery, has yielded 24,000 ounces of high-grade gold from high-grade specimen rocks, the photos of which RNC CEO Mark Selby described as "geo-porn".
Selby said there was huge potential to find more. "Across four shear zones we have the ability to find these high-grade zones," he said. Importantly, the mine already has 5km of ramps, meaning new finds can be mined quickly.
With the new finds and the conversion today of $6 million in warrants, RNC is well-funded. "Now, the fact that we have enough capital, the for-sale sign is long gone," Selby said.