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Red River Resources Ltd.
Summary
| Project: | Thalanga | |
|---|---|---|
| Deposit: | Liontown East | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Gold-Silver | |
| Date: | 12/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-12-2016: Red River Resources Ltd. announces an Exploration/Drilling Update report for its Liontown East deposit at the Thalanga project. Drill results incl. 26.0m @ 0.6% Cu, 2.2% Pb, 5.4% Zn, 0.9g/t Au, 25g/t Ag from 504.7m. Red River Resources Limited | |
| Resources: | (Resource, I+I): 2.258Mt @ 8.4% ZnEq. at Liontown | |
| CP/QP: | [Overall Report]: Tav Bates (Internal) | |
| ABSTRACT: | Red River Resources Limited (ASX: RVR) (“Red River” or the “Company”) is pleased to report high-grade assay results for diamond drill hole LTED05 at the Liontown East target, part of the Company’s Thalanga Zinc Project (“Project”) in Queensland. LTED05 was drilled to test the Liontown East discovery which is located on EPM 14161, approximately 1.2km east of the Liontown Mineral Resource (refer to Figure 1 & 2). LTED05 intersected a broad zone of massive and semimassive sulphide mineralisation from 504.7m to 530.7m down-hole. LTED05 returned a high-grade intercept of 6.3m @ 25.2% Zn Eq. from 504.7m within a larger intercept of 26.0m @ 10.3% Zn Eq. from 504.7m to 530.7m down-hole. Red River’s Managing Director Mel Palancian commented: “This is an outstanding assay result, and even further upgrades our exciting Liontown East discovery. The discovery is made all the more significant by the fact it sits only 1,200m from a 2Mt Mineral Resource at the Liontown deposit, and the fact that the Thalanga Mill will have spare processing capacity. “This result caps an exceptional year for Red River. After completing a A$30 million capital raising we are fullyfunded to progress exploration activities in 2017, including continued drilling at our exciting Liontown East discovery, and restart production at Thalanga in mid-2017, transforming Red River into the only primary zinc producer listed on the ASX.” | |
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