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Red River Resources Ltd.
Summary
| Project: | Thalanga | |
|---|---|---|
| Deposit: | Waterloo | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Gold-Silver | |
| Date: | 10/25/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-10-2017: Red River Resources Ltd. announces an Exploration/Drilling Update report for its Waterloo deposit at the Thalanga project. Drilling results incl. 35.91m @ 1.7% Cu, 1.0% Pb, 4.9% Zn, 0.5g/t Au, 39g/t Ag from 259.09m. Australia’s newest zinc pro | |
| Resources: | (Resource, I+I): 707Kt @ 1.9% Cu, 1.6% Pb, 11% Zn, 0.9g/t Au, 50g/t Ag at Waterloo | |
| CP/QP: | [Overall Report]: Alex Nichol (Internal) | |
| ABSTRACT: | Australia’s newest zinc producer Red River Resources Limited (ASX: RVR) (“Red River” or the “Company”) is pleased to announce initial assay results from an infill and extension drilling program at Waterloo, part of its Thalanga Zinc Project in Queensland. WL11 has been completed and submitted for assay, with WL12 in progress. WL11 intersected 2.1m of massive sulphide mineralisation from 196.9m downhole. The drilling is part of an infill and extension program at Waterloo to test the potential to extend the known resource and to generate data to allow a maiden Waterloo Ore Reserve to be calculated by 1H CY2018. Waterloo is currently scheduled to be the third deposit mined at the Company’s Thalanga Zinc Project, which commenced concentrate production in September 2017. Waterloo is Red River’s highest grade deposit with a current Mineral Resource estimate of 707kt @ 19.1% Zn Eq. 2 Red River has received assay results for drill holes WL01, WL06 and WL07 (Table 1) from its ongoing Waterloo drilling program. WL11 (Table 2) has been completed and will be submitted for assay, with results expected shortly and WL12 is in progress. The Waterloo Deposit polymetallic massive sulphide orebody is located 40km East of Thalanga (straight line) and 105 km by road from Thalanga (refer to Figure 2). In 1985, the Waterloo deposit was found by drilling through the overlying Campaspe Formation (approximately 50m thick) after a small outcrop of altered volcanic rock was recognised in an adjacent creek bed. | |
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