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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2019: 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. 204.3m @ 1.0g/t Au from 185.1m. Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) advises t | |
| 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 underground exploration drilling continues to confirm the potential for Resource extensions at the King of the Hills (KOTH) gold mine in the Eastern Goldfields region of Western Australia. Drill-hole KHRD0352 was drilled to target previously reported high-grade historical ‘TARD’ exploration results. It has returned results over 500m down plunge of the current Resource model, with broad mineralised intercepts. Red 5 Managing Director, Mark Williams, said the ongoing success of the proof-of-concept program in confirming the presence of gold mineralisation extending “down the nose” of the granodiorite contact margin, highlighted the outstanding growth potential of the KOTH orebody. “While most of our activities are currently focused on expanding and increasing the confidence of the 1.11 million ounce underground Resource, mostly located below the historical open pit at King of the Hills, we believe there is also potential for additional Resource growth within other areas of the perimeter margins of the granodioriteultramafic contact – which measures over 12km. “This initial drill program, comprising three holes, is designed to test a ‘proof-of-concept’ that gold mineralisation continues ‘down the nose’ of the contact. The second hole KHRD0352 confirmsthe presence of gold mineralisation a further 500m down plunge of the current Resource model, with mineralisation extending 70 metres into the granodiorite. “This has significant potential for the longer-term growth opportunities available at KOTH, which will be pursued in due course with the Final Feasibility Study currently underway on the existing Resource and Reserve area,” he said. | |
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