Red River Resources Ltd

Red River Resources has record September quarter at zinc mine

The company aims to continue its operational success in the December quarter.

growth concept shown with stairs going up
Thalanga has good potential to extend the current mine-life

Red River Resources Ltd (ASX:RVR) has mined, processed and produced record amounts from its Thalanga zinc operation over the September quarter in Queensland.

The company produced 6,800 tonnes of zinc concentrate, an increase of 24% on the prior June quarter and 2,747 tonnes of lead concentrate, a 33% increase on the June quarter.

Red River’s managing director Mel Palancian said: “Great to see the site team continue to improve production from both the mine and the processing plant and, we are looking forward to continued increases in concentrate production in the December quarter.”

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

The Thalanga operations consist of six deposits, however, only the West 45, Far West and Waterloo deposits are part of the current mine plan.

Two of the deposits not in the mine plan are Liontown and Liontown East and recent drilling suggests the two deposits may be linked.

Drilling recently intersected high-grade gold, copper and zinc in the area between the two existing Liontown deposits, known as the Liontown Gap.

The total mineral resources across the two deposits amount to 3.6 million tonnes at 10% zinc equivalent.

READ: Red River Resources valued at more than double the current price by Hartleys

Shares in the company are trading at 19.5 cents, representing a steep discount to Hartleys’ 12-month price target of 61 cents.

Quick facts: Red River Resources Ltd

Price: $0.16

Market: ASX
Market Cap: $76.06 m

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Red River Resources developing multiple assets to maximise Thalanga Operations

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