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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/23/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-1-2020: 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. 231m @ 1.2g/t Au. Red 5 Managing Director, Mark Williams, said the Company’s decision in the D | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Byron Dumpleton (Internal) | |
| ABSTRACT: | Red 5 Managing Director, Mark Williams, said the Company’s decision in the December 2019 Quarter to boost its underground drilling capacity at KOTH with three diamond rigs, has produced results that add further confidence to the Final Feasibility Study (FFS), currently underway for KOTH. “The 85,000-metre underground drilling program is progressing strongly with approximately 60% of the program completed. The volume and quality of the data being generated are progressively being fed into an updated Resource model, that will underpin an update to the current 3.1Moz Mineral Resource as part of the FFS on an integrated bulk open pit and underground mining operation due to be released in the September 2020 Quarter. “Importantly, the results continue to contribute towards achieving the three outcomes we are targeting – namely, to convert as much of the existing Underground Resource into Ore Reserves as we can for inclusion in the FFS, to reassess the final shape of the open pit, and to identify extensions to the underground Resource both along strike and down-dip. “In-fill and grade control drilling is also delivering positive results by reinforcing the continuity and tenor of the stockwork development zones, which have formed part of our transition to bulk underground mining program and will provide us greater confidence for the future.” | |
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