VANCOUVER, Sept. 19, 2018 /CNW/ - Maverix Metals Inc. (the
"Company" or "Maverix") (TSX-V: MMX) is pleased to comment on
recent announcements made by RNC Minerals ("RNC") regarding the
significant gold discoveries RNC has made at the Beta Hunt mine in
the prolific Kambalda mining district in Australia.
Maverix owns a 6.0% gross revenue royalty and a 1.5% net smelter
return royalty on all gold produced from the Beta Hunt mine.
On September 9, 2018, RNC
announced the discovery of the "Fathers Day Vein", a new high-grade
discovery area at the Beta Hunt mine. Approximately 9,250 ounces of
high-grade gold was produced from a 44 m3 cut
(130 tonnes) on the 15 level at the Beta Hunt Mine (equal to over
70 ounces/tonne or 2,200 grams/tonne). The high-grade coarse
gold was hand-picked and direct shipped from the mine site to the
Perth Mint for processing.
On September 16, 2018, RNC
announced the recovery of two specimen quality stones with the
first weighing 43 kilograms containing an estimated 1,100 ounces of
gold and the second stone weighing 7 kilograms containing an
estimated 190 ounces of gold. RNC also announced that the strike
length of the high-grade coarse gold structure had doubled. RNC
expects to provide an updated estimate of the total ounces
recovered from the Fathers Day Vein once all processing by the
Perth Mint on shipments sent to date has been completed and initial
recovery estimates on recent shipments of coarse gold and specimen
stones are received.
RNC is the first owner of the Beta Hunt mine to focus on
exploring the Lunnon Basalt in the search for gold. The resource
potential is underpinned by multiple shear zones over a two
kilometre strike length.
Dan O'Flaherty, CEO of Maverix,
commented, "We would like to congratulate the team at RNC and Beta
Hunt on this remarkable discovery and we look forward to hearing
more about their progress as they continue mining and exploring
this new vein system. We are excited to be able to participate in
the success of this world-class discovery."
For further information, see RNC news releases
dated September 9, 2018, and September
16, 2018.
Qualified Person
Doug Ward, B.Sc., Mining
Engineering, MMSA, is Vice President Technical Services for
Maverix, and a qualified person under National Instrument 43-101 –
Standards of Disclosure for Mineral Projects, has reviewed
and approved the scientific and technical disclosure contained in
this press release.
About Maverix
Maverix Metals Inc. is a gold royalty and streaming company.
Maverix's mission is to provide its shareholders with significant
low risk leverage to the gold price and to increase underlying per
share value by expanding its portfolio with acquisitions of
high-quality royalties and streams that offer robust returns.
NEITHER THE TSX VENTURE EXCHANGE ("TSX-V") NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
SOURCE Maverix Metals Inc.
