Red River Resources Ltd (ASX:RVR) has revealed initial positive assay results from an exploration drilling program at the Ermine Project, part of its Thalanga Operations in Queensland.
The company completed an initial two holes before demobilising the drilling rig for the wet season.
Ermine Project location
The program aimed to test several geophysical and geochemical anomalies in the larger Ermine-Echidna mineralised system.
Highlights from the drilling included 1.95 metres at 15.5% zinc equivalent (1.1% copper, 2.2% lead, 9.1% zinc, 0.1 g/t gold & 33 g/t silver) from 223 metres down hole at the Ermine North target.
The Ermine-Echidna system is about 75 kilometres east of Red River’s Thalanga Operations.
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Further discoveries near Thalanga have the potential to provide Red River with additional material that could be processed at the Thalanga plant, which has the capacity for increased throughput.
Red River managing director Mel Palancian said: “We continue to be pleasantly surprised with the success of our exploration activities which demonstrate prospectivity of our extensive exploration portfolio.
“The Ermine prospect is one of several we will assess to more clearly define a long and sustainable mine life at Thalanga.”
Significant historical results
Previous exploration at Ermine-Echidna had defined a large (+2 kilometres length) coincident geochemical and geophysical anomaly.
The historical drilling (carried out by Plutonic Operations Ltd in 1992 and 1993) produced a number of significant high-grade intercepts including 3.2 metres at 1.2% copper, 7.9% lead, 29.2% zinc, 0.4 g/t gold and 190 g/t silver.
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Red River plans to drill down dip, testing the core of the Ermine North conductivity anomaly and along strike with a view to better define the extent of the mineralisation at Ermine North.
The Ermine conductivity anomaly is also planned to be tested by drilling. Analysis indicates that the previous historic drilling carried out by Plutonic, was not deep enough the test the anomaly.
Evaluation of the historic core is also underway to help vector to a thicker section of the sediment package. Jasper fertility and gossan sampling and mapping will also continue.
