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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/21/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-9-2018: Red 5 Ltd. announces an Exploration/Drilling Update report for its King of the Hills deposit at the King of the Hills project. Drilling result incl. 40.0m @ 6.6g/t Au from 20.0m. Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) is pleased to | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Byran Dumpleton (Internal) | |
| ABSTRACT: | Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) is pleased to advise that exploration drilling at the King of the Hills (KOTH) underground gold mine, located in the Eastern Goldfields region of Western Australia, has delivered an important breakthrough in the Company’s understanding of the structure and controls of gold mineralisation in the region. The drilling has confirmed the presence of a significant gold-bearing zone of tension veins and stockworks located close to an existing mining area. It has also demonstrated that drilling in a northerly/southerly direction in the region of the granitoid/ultramafic contact is optimal for picking up these vein stockworks, which would be missed by drilling perpendicular to the contact. This contact has 4km of strike and at least 500m vertical extent on the eastern side of the granitoid, with a similar extent on the western side, and represents a new drill target for Red 5. The drilling program was undertaken at the northern end of the KOTH deposit, and comprised seven flat-lying northerly oriented diamond drill holes (KHRD0095 to KHRD0101 – see Figure 1) to provide “proof of concept” testing of a significant gold-bearing ENE-WSW (mine grid) trending zone of tension veins developed along the eastern margins of the Tarmoola granodiorite pluton and ultramafic contact. The holes were designed to follow-up drill hole KHGC149 completed by the mine’s previous owner, Saracen Mineral Holdings Ltd (Saracen), in November 2016, which was drilled to confirm the presence and orientation of these narrow “E-W” tension veins. Results from the recently-completed program appear to confirm the existence and orientation of the veins, as well as identifying a network of vein/veinlet stockworks close to the granitoid/ultramafic contact (granitoid in the illustrations) that have the potential to develop into additional mining areas for the KOTH underground mining operations. The narrow veins and veinlets are typically | |
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