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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/13/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-3-2019: 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. 122.0m @ 3.03g/t Au from 0m. Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) is pleased to | |
| Resources: | (Resource, I+I): 28.7Mt @ 2.0g/t Au for 1.880Moz Au | |
| CP/QP: | [Overall Report]: Byron Dumpleton (Internal) | |
| ABSTRACT: | Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) is pleased to report further assay results from the ongoing 30,000m underground diamond drilling program at the King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia, continue to strengthen the emerging bulk mining potential, delivering further broad composite intercepts of significant gold mineralisation. The latest results build on the initial results reported on 30 January 2019, with the combined 30,000m drilling program aimed at increasing and upgrading the current 1.88Moz bulk mining Mineral Resource at KOTH reported on 4 December 2019. In addition to validating the Resource model for a potential future bulk mining operation at KOTH, the latest results have also enabled the mining team to expand the bulk stope designs within the existing ‘truck-to-Darlot’ mine plan, delivering new bulk stoping opportunities proximal to the successful Lemonwood bulk stope (see ASX announcement on 4 December 2018). 30,000M DIAMOND DRILLING PROGRAM – RESULTS FROM RECENT IN-FILL DRILLING Red 5 commenced an underground drilling program to further evaluate the 1.88Moz bulk Resource at KOTH in October 2018. The program, comprising some 30,000m of drilling, is continuing to make good progress. Based on recent results from the 30,000m drill program, geological mapping, and the successful mining of the Lemonwood bulk stope, a series of in-fill drill holes were designed to test for extensions to the mineralisation in the Lemonwood area. Results from this drilling will underpin the development of additional bulk stopes in this sector of the mine. | |
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