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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/29/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-10-2019: Red 5 Ltd. announces an Exploration/Drilling Update report for its King of the Hills deposit at the King of the Hills project. Assaying of historic core gives results incl. 2.6m @ 66g/t Au. Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) a | |
| 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 ongoing assaying of historical diamond drill core from the King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia, continues to return positive results, confirming the presence of significant gold mineralisation. These results support the bulk mining opportunity at KOTH. Unassayed intervals of core are currently assigned zero grade within the 3.1Moz Mineral Resource model, however the ongoing return of assay results above the cut-off grade demonstrates that many of these previously unassayed lengths of core contain significant mineralisation, with the ability to add further contained gold to the Resource. A Final Feasibility Study for an integrated bulk open pit and underground mining operation at KOTH is currently underway and is scheduled for completion by mid-CY2020. | |
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