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Red River Resources Ltd.
Summary
| Project: | Thalanga | |
|---|---|---|
| Deposit: | Thalange Far West | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Gold-Silver | |
| Date: | 6/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-6-2017: Red River Resources Ltd. announces an Exploration/Drilling Update report for its Thalange Far West deposit at the Thalanga project. Drilling results incl. 6.7m @ 1.8% Cu, 3.3% Pb, 8.4% Zn, 0.4g/t Au 75g/t Ag from 439.8m. Near-term zinc producer | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Alex Nichol (Internal) | |
| ABSTRACT: | Near-term zinc producer 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. TH727 has been completed, intersecting 2.1 metres of massive and semi-massive sulphide mineralisation from 327m downhole. Core from TH727 has been submitted for assay. Assay results have been received for TH722 and confirmed that this drill hole did not intersect any significant mineralisation. Red River has engaged Mining One Consultants to update the Far West Mineral Resource, generate a maiden Far West Ore Reserve and update the Far West mine design and production schedule. Far West is expected to be the second deposit mined as part of the Thalanga Zinc Project restart after the West 45 deposit, with production on track to resume in Q4 2017. 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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