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Red River Resources Ltd.
Summary
| Project: | Thalanga | |
|---|---|---|
| Deposit: | Far West | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Gold-Silver | |
| Date: | 10/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-10-2016: Red River Resources Ltd. announces an Exploration/Drilling Update report for its Far West deposit at the Thalanga project. Drilling results incl. 4.2m @ 3.3% Cu, 2.0% Pb, 4.0% Zn, 1.3g/t Au, 85g/t Ag from 191.0m. Zinc developer Red River Resou | |
| 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 provide details on its exploration activities at Thalanga Far West, part of the Thalanga Zinc Project in Queensland. Red River has received assay results for TH682 and TH683, from its planned initial fifteen hole Far West infill drilling program. TH686, the ninth hole completed in the program, is in progress. Assay results are pending for TH684 and H685. Red River’s Managing Director Mel Palancian commented: “It is pleasing to see the Far West Infill program continuing to deliver good results. Thalanga Far West will be the second deposit mined after West 45, and the continued excellent results demonstrate the potential of Far West and are indicative of the potential remaining within the Thalanga system for additional discoveries of high grade polymetallic mineralisation”. To date, eight diamond drill holes (TH678 to TH685), have successfully intersected massive and semi-massive sulphide mineralisation in the current round of infill drilling at Far West. The ninth hole in the program (TH686) is in progress. To date, assay results have been received for TH678 – TH683. 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. Please refer to ASX release dated 12 November 2015 for further details on the Thalanga Zinc Project Restart Study. Red River confirms that all material assumptions underpinning the production target in the ASX release dated 12 November 2015 continue to apply and have not materially changed. | |
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