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Red River Resources Ltd

Red River Resources intersects high-grade gold and base metals between Liontown deposits

The results indicate that the two Liontown mineral resources may potentially be linked.

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The Liontown Project is in northern Queensland

Red River Resources Ltd (ASX:RVR) has intersected high-grade gold, copper and zinc in drilling at the Liontown project within the company’s Thalanga Operations in northern Queensland.

The drilling was undertaken in an area between the two existing Liontown deposits, known as the Liontown Gap.

It returned intercepts of gold-rich polymetallic mineralisation that potentially demonstrate continuity between the Liontown and Liontown East mineral resources.

Total mineral resources across the two deposits amounts to 3.6 million tonnes at 10% zinc equivalent.

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Highlighted intercepts include: 1.75 metres at 16.4 g/t gold, 6.3% copper, 4.1% lead, 4.2% zinc and 56 g/t silver (or 38.2% zinc equivalent) from 419.05 metres; and 2.6 metres at 15.3 g/t gold, 2.8% copper, 4.5% lead, 8.2% zinc and 43 g/t silver (or 30.2% zinc equivalent) from 236.3 metres.

The drilling supports potential strike extensions of up to 500 metres, which would ultimately link the Liontown and Liontown East mineral resources.

Red River plans to continue drilling the Liontown Gap with the objective of continuing to define gold-rich polymetallic mineralisation and to extend the mineral resource into the area.

Drill core from hole LTDD18015 - 2.6 metres at 30.2% zinc equivalent

 

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The results provide Red River confidence in historical drill assays and confirm the high-grade, gold-rich nature of the Carrington lode mineralisation.

The lode sits in the footwall of the Liontown mineralisation and is hosted in a dacite pumice breccia unit.

The Liontown-Liontown East horizon in the gap area has been identified, but as of yet does not host economic mineralisation.

Red River also received assay results for two other holes from the area, but no material results were returned for either hole.

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Red River is a base metal producer with its key asset being the Thalanga Operations.

The company began concentrate production in September 2017 and is focused on maximising returns by extending mine life through increasing mineral resources and ore reserves at deposits in the mine plan.

It also plans to convert mineral resources like Liontown into ore reserves and explore a growing pipeline of targets in the surrounding area.

Quick facts: Red River Resources Ltd

Price: $0.17

Market: ASX
Market Cap: $83.42 m
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