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Red River Resources on track to develop Waterloo deposit with new high-grade drill results

Published: 12:57 06 Jun 2018 AEST

drill samples
Red River shares are trading 14% higher intra-day, at 32 cents.

Red River Resources Limited (ASX:RVR) is continuing to receive further positive results from drilling at the Waterloo polymetallic massive sulphide deposit, part of its Thalanga Operations in Queensland.

Highlights from the recent drilling include:

• 7.8 metres at 36.5% zinc equivalent (3.9% copper, 3.6% lead, 17.5% zinc, 1.0 g/t gold and 94 g/t silver) from 248.20 metres down hole; and
• 20.20 metres at 18.6% zinc equivalent from 195.4 metres including an exceptionally high-grade interval of 5.50 metres at 44.8% zinc equivalent (2.7% copper, 5.1% lead, 27.7% zinc, 0.9 g/t gold and 129 g/t silver) from 210.10 metres.

Waterloo to be the next mine development after Far West

Waterloo is Red River’s highest grade deposit with a current resource of 707,000 tonnes at 19.1% zinc equivalent.

The recent drilling is part of an infill and extension program at Waterloo to update the resource and to prepare a maiden ore reserve.

Waterloo remains on track to be the next mine developed by Red River after the current Far West mine development activities are completed.

READ: Red River Resources’ blast at Far West sets the stage for underground development

Far West has a JORC reserve of 1.5 million tonnes at 12% zinc equivalent and a minimum mine life of five years.

Red River recently completed the main blast at the Far West Box Cut site.

WATCH: Video of the blast

Red River commenced concentrate production at the Thalanga Operation in September 2017 and 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, Far West and Waterloo.

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