“I believe it speaks to the quality of the exploration opportunities that both exploration properties at West Raglan and Aer-Kidd have been able to raise new funding in difficult market conditions. At West Raglan, we will now focus our efforts on deploying the funds with a goal of extending known mineralized lenses and discovering new lenses from targets that will be generated from remodeling existing data and the addition of new data from a modern airborne geophysical survey using the latest Versatile Time-Domain Electromagnetic (“VTEM”) technology. This new VTEM survey will increase targeting efficiency in certain highly prospective areas compared to the existing airborne geophysical database which is 10 years old. Increased geophysical resolution has the potential to add significant value to the property as several of the mineralized lenses previously discovered by drilling at moderate depth, for example hole TR-12-001 that yielded 1.96% Ni, 0.7% Cu and 1.4 g/t PGE over 14.5 metres, had muted geophysical signatures which should be better resolved with the modern higher-power geophysical system.” said Mark Selby, President and CEO of RNC.
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