Sign up Australia
Proactive Investors - Run By Investors For Investors

Red River Resources begins developing second underground mine at Thalanga Zinc Project

The main blast is expected this week for the box cut at the new Far West operation.
Portal development site at Far West
The Far West portal development site at the Thalanga project

Red River Resources Limited (ASX:RVR) has started developing the Far West mine, which will be the second underground mine at the company’s Thalanga Zinc Project in central Queensland.

The portal site has been cleared and box cut drilling has started with the main blast expected this week.

Underground development is expected to begin shortly after the completion of the box cut.

READ: Red River Resources has 12-month share price target boosted by Hartleys to 65 cents

The surface development contract at Far West has been awarded to PYBAR Mining Services, which is undertaking underground mining at the company’s West 45 underground mine.

Red River is going through the contractor selection process for the underground development.

1.5 million tonne reserve

Far West has a JORC-compliant reserve of 1.5 million tonnes at 1.3% copper, 1.6% lead, 5.0% zinc, 0.2 g/t gold and 45 g/t silver.

This represents 12.0% zinc equivalent and the operation has a minimum mine life of five years.

The Far West mineral resource estimate at greater than 5% zinc equivalent.

Red River is the leading ASX-listed pure-play zinc producer with its key asset being the Thalanga project.

Concentrate production at the project began in September 2017.

READ: Red River Resources drill results continue to suggest potential for longer mine life

The company is focused on maximising returns from the project by increasing plant throughput and extending mine life.

This is intended to be done by increasing resources and reserves at deposits in the mine plan - West 45, Thalanga Far West and Waterloo.

The strategy also includes converting resources into reserves at Liontown and Orient, and by continuing to aggressively explore a growing pipeline of targets within the surrounding area.

View full RVR profile View Profile

Red River Resources Ltd Timeline

Related Articles

July 13 2018
AfriTin listed on AIM with plans to position itself as the African tin champion
September 27 2018
Vanadium has outperformed the market significantly over the past three years, and Anglo Pacific is benefittng
October 15 2018
KSZ holds potential for world class base and precious metals deposits

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use