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Red River Resources Ltd.
Summary
| Project: | Thalanga | |
|---|---|---|
| Deposit: | Far West | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Gold-Silver | |
| Date: | 12/14/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-12-2016: Red River Resources Ltd. announces an Exploration/Drilling Update report for its Far West deposit at the Thalanga project. Drilling results incl. 2.05m @ 7.6% Cu, 3.8% Pb, 9.3% Zn, 1.2g/t Au, 161g/t Ag from 188.8m. Zinc developer Red River Res | |
| Resources: | (Not mentioned in this report) | |
| CP/QP: | [Overall Report]: Tav Bates (Internal) | |
| ABSTRACT: | Zinc developer Red River Resources Limited (ASX: RVR) (“Red River” or the “Company”) is pleased to announce further high-grade assay results from its ongoing drilling program at Thalanga Far West, part of the Thalanga Zinc Project in Queensland. Red River has received assay results for TH688, TH689, TH690, TH691, TH693 and TH694 from the ongoing Far West infill and resource extension drilling program. No significant mineralisation was intercepted in TH688 and TH689, and TH692 was abandoned due to excessive deviation. Assay results are pending for TH695, TH696 and TH697. TH698 is in progress Red River’s Managing Director Mel Palancian commented: “The Far West Infill program continuing to deliver good results, demonstrating the potential of the deposit as well as the Thalanga system for additional discoveries of high grade polymetallic mineralisation. “Thalanga Far West will be the second deposit mined after West 45, with production at Thalanga expected to commence in 2H 2017.” Red River has received assay results for drill holes TH688, TH689, TH690, TH691, TH693 and TH694 (Table 1) from the ongoing Far West infill and resource extension drilling program. No significant mineralisation was intersected in drill holes TH688 and TH689. Red River released a Restart Study (the internal study prepared by Red River to assess the potential restart of the Thalanga Zinc Project) in November 2015, which demonstrated the highly attractive nature of the Project. The Project has a low operating cost, low pre-production capital cost ($17.2 million), and a short timeline to production (six months). Annual average production is 21,400 tonnes of zinc, 3,600 tonnes of copper, 5,000 tonnes of lead, 2,000 ounces of gold and 370,000 ounces of silver in concentrate over an initial mine life of five years, and there is outstanding extension potential. | |
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