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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/12/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-3-2020: Red 5 Ltd. announces an Exploration/Drilling Update report for its King of the Hills deposit at the King of the Hills project. Drilling results incl 46.9m @ 2.3g/t Au from 137m. Red 5 Limited ("Red 5" or "the Company") (ASX: RED) advises that f | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Byron Dumpleton (Internal) | |
| ABSTRACT: | Red 5 Limited ("Red 5" or "the Company") (ASX: RED) advises that final results have now been received from the assaying of historical diamond drill core from the King of the Hills (KOTH) gold mine. The results continue to reinforce the potential to expand the existing 3.1Moz Mineral Resource estimate. These assay results support the potential for a bulk mining opportunity at KOTH, with unassayed intervals of core currently assigned a value of 0.005g/t (effectively zero grade) within the 3.1Moz Mineral Resource model. The ongoing return of assay results above the cut-off grade demonstrates that many of these previously unassayed lengths of core contain significant gold mineralisation, with the capacity to add further contained gold to the Resource. An updated Mineral Resource estimate for KOTH is now expected in late March 2020, earlier than originally forecast. This updated Mineral Resource will, in turn, underpin the ongoing Final Feasibility Study for an integrated bulk open pit and underground mining operation at KOTH, which is scheduled for completion in the September 2020 Quarter. | |
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