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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | Centauri | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/6/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-5-2020: Red 5 Ltd. announces a Resource Estimation report for its Centauri deposit at the King of the Hills project. Initial Mineral Resource Estimates for Centauri Deposit. Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) advises the completion of m | |
| Resources: | (Resources, I+I): 1.71Mt @ 1.5g/t Au (81.3koz Au) | |
| CP/QP: | [Resources]: Bryon Dumpleton (Internal) | |
| ABSTRACT: | Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) advises the completion of maiden JORC 2012 Mineral Resource estimates for the Cerebus-Eclipse and Centauri near-mine deposits at the King of the Hills (KOTH) gold mine in Western Australia (Figure 1). These satellite deposits are an important element of Red 5’s proposed mining strategy for the KOTH Project, with the potential to provide open pit mill feed and cash flow in the early stages of a proposed bulk mining operation. Together with the previously reported Mineral Resource estimates for the near-mine Rainbow and Severn deposits (see ASX announcement 1 May 2019), the Cerebus-Eclipse and Centauri Mineral Resources bring the Company’s total Satellite Open Pit Mineral Resource base at KOTH to approximately 308,200 ounces. The Cerebus-Eclipse and Centauri deposits are both located on the Ursus Fault (see Figure 1), and may potentially form part of the same mineralised system. The Ursus Fault trend is highly prospective, with a significant portion remaining untested. | |
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