Red River Resources Ltd (ASX:RVR) has highlighted the potential to expand the Thalanga Project operations with recent drilling results indicating a near-term mining opportunity at the Liontown Project in Northern Queensland.
The Liontown Project is within close proximity to the Thalanga mill and comprises polymetallic volcanic-hosted massive sulphide (VHMS) deposits such as New Queen Lens, Main Lens and Liontown East.
Following the start of drilling at Liontown in June 2019, the company has drilled 19 holes to date with assays received for 11 holes.
Assays continue to be received from the ongoing drilling program with results received from drilling in the New Queens Lens and the Main Lens deposits.
“The potential to become a starter pit”
Managing director Mel Palancian said: “We are impressed with the results from Liontown, which are demonstrating the potential of this deposit to add to the mine life of our Thalanga Operations.
“The New Queens Lens has the potential to become a starter pit, targeting the shallow high-grade polymetallic mineralisation while results from the Main Lens support a possible underground mining operation.
“In addition, we are remodelling the Carrington Lode using historic and new results to design a drill program to better target the gold in that system and define a Mineral Resource.”
High-grade results from the New Queen Lens and the Main Lens
Assays at the New Queens Lens prospect has identified copper-lead-zinc and gold-silver mineralisation including:
- 71.20 metres at 6.9% zinc equivalent from 32 metres, including 16 metres at 11.3% zinc equivalent from 39 metres and 12.50 metres at 10.7% zinc equivalent from 68.15 metres;
- 8.40 metres at 8.0% zinc equivalent from 35.8 metres; and
- 35.75 metres at 14.9% zinc equivalent from 53.75 metres.
At Liontown Main Lens results included the following:
- 37.78 metres at 6.8% zinc equivalent from 163.32 metres, including two zones of high-grade massive sulphides: 4.50 metres at 20.6% from 167.50 metres and 6.10 metres at 12.1% from 195.00 metres;
- 5.67 metres at 33.1% from 105.88 metres; and
- 23.65 metres at 19.4% from 181.50 metres, including 15.60 metres at 25.9% from 189.55 metres.
Main Lens is a large body of polymetallic volcanic-hosted massive sulphide (VMS) mineralisation with 'significant' precious metal credits.
- 37.79 metres at 0.3% copper, 1.1% lead, 4% zinc, 0.3 g/t gold and 29 g/t silver;
- 5.67 metres at 0.8%, 6.3%, 21.5%, 0.8 g/t and 115 g/t; and
- 23.65 metres at 0.6%, 4.2%, 10.4%, 1 g/t and 109 g/t.
High-grade polymetallic massive sulphide mineralisation with precious metals
Red River is seeking to build a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development.
RVR’s foundation asset is the Thalanaga Base Metal operation in Northern Queensland, which was acquired in 2014 and where RVR began copper, lead and zinc concentrate production in September 2017.
RVR has recently acquired the high-grade Hillgrove Gold Antimony Project in NSW, which will enable the company to build a multi-asset operating business focused on base and precious metals.