For thousands of other reports visit RSC's Mineral Intellingence Map
Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-12-2018: Red 5 Ltd. announces an Exploration/Drilling Update report for its King of the Hills deposit at the King of the Hills project. Old drillholes, new assay results incl. 4.56m @ 14.46g/t Au from 109.27. Red 5 Limited (“Red 5” or “the Company”) (A | |
| 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 advise that an ongoing assessment of historical drill data has added further impetus to its recently announced review of the emerging bulk mining potential at the King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia. On 4 December 2018, the Company announced a maiden Indicated and Inferred Mineral Resource of 28.7Mt at 2.0g/t for 1.9 million ounces for the Eastern Margin Contact Zone at KOTH1 . This significant Mineral Resource has triggered a review of the bulk mining opportunity at King of the Hills, including a multi-phase program, which includes the recently commenced 30,000m drill program. As part of this review, the Company has also commenced assaying a large quantity of previously unassayed diamond drill core that is available at KOTH, from drilling completed by previous owners. Assay results from the first batch of previously un-assayed lengths of historical drill core are highly encouraging and indicate strong potential to increase the tonnage, grade and classification of the maiden 1.9Moz bulk mining Resource for KOTH. The continuing investigation of historical drilling has revealed zones of bulk mineralisation beneath and to the south-west of the current pit outline and underneath the site of the former 3.3Mtpa Tarmoola plant site. This mineralisation lies within the granodiorite, beneath the granodiorite contact with the overlying ultramafic. SAMPLING OF UN-ASSAYED DRILL CORE Red 5 holds a large inventory of drill core from KOTH that was not sampled by the previous owners, most likely due to their focus on mining only the high-grade gold veins, and therefore any intervals of core that did not show clear potential for high-grade gold were not sampled (see Figures 1 and 2 below). Red 5 is now sampling and assaying the majority of this un-sampled drill core to provide additional data for the assessment of the potential for bulk mining. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report