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Red 5 Ltd.
Summary
| Project: | King of the Hills | |
|---|---|---|
| Deposit: | King of the Hills | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-1-2019: 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. 312m @ 2.01g/t Au from 236.0m. Red 5 Limited (“Red 5” or “the Company”) (ASX: RED) is pleased | |
| 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 report early assay results from the 30,000m underground diamond drill program being undertaken as part of the ongoing review of the emerging bulk mining. The encouraging early results, which include numerous thick composite intercepts of significant gold mineralisation, provide further impetus to the bulk mining strategy at KOTH and, together with the assay results reported in December 2018 from assaying of previously unassayed historical drill core (refer ASX announcement dated 19 December 2018), are expected to contribute towards future increases in the Resource at KOTH. 30,000m DIAMOND DRILL PROGRAM – EARLY RESULTS Red 5 commenced an underground drilling program to further evaluate the 1.88Moz bulk Resource at KOTH in October 2018. The program, comprising some 30,000m of drilling, has made good progress to date. The holes drilled so far have been targeting the northern and central areas of the northern part of the Eastern Margin Contact Zone, as well as an area located within the more central part of the granodiorite. The overall program is expected to be completed in the June 2019 quarter. The results received to date are considered important, as they corroborate the Company’s geological model for the Eastern Margin Contact Zone and within the granodiorite, which is based on a large network of narrow high-grade veins as well as broader zones of stockwork mineralisation and high-grade veins up to 1.5m wide, as demonstrated by hole KHRD0116, which can be bulked out into broad mineralised zones. | |
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