logo-loader
viewRed River Resources Limited

Red River Resources shares rise after drilling high-grade gold and silver at Liontown

The recent exploration success at Liontown has materially upgraded the likelihood of development eventuating, which has significant implications for the Thalanga operation.

Red River Resources Limited - Red River Resources shares rise after drilling high-grade gold and silver at Liontown
The Liontown resource is on track to be updated in early 2020, followed by mining studies

Red River Resources Ltd (ASX:RVR) has reported further high-grade assay results up to 39.3 g/t gold and 2,750 g/t silver from drilling at the New Queen Lens (Liontown Project), part of the Thalanga Operations in Queensland.

The company’s shares are trading about 7% higher intra-day, at 14 cents.

Notable drill intersections include:

  • LTDD19015 intersected 28.50 metres at 0.2% copper, 2.2% lead, 4.2% zinc, 1.7 g/t gold and 171 g/t silver (11.8% zinc equivalent) from 69.80 metres down-hole; including:
    • 3.85 metres at 0.6% copper, 7.6% lead, 15.8% zinc, 4.5 g/t gold and 218 g/t silver (32.4% zinc equivalent) from 84.15 metres down-hole; and
    • 1 metre at 0.5% copper, 3.3% lead, 4.2% zinc, 5.9 g/t gold and 2,750 g/t silver (80.5% zinc equivalent) from 94 metres down-hole.
  • LTDD19018 intersected 5.05 metres at 0.2% copper, 2.4% lead, 4.0% zinc, 3.3 g/t gold and 25 g/t silver (9.0% zinc equivalent) from 77.45 metres down-hole.

New Queen Lens long section

The Liontown Project comprises polymetallic volcanic hosted massive sulphide (VHMS) deposits and a gold-rich copper mineralised vein system.

The project has a current resource of 3.6 million tonnes at 10% zinc equivalent.

Red River commenced drilling at Liontown in June 2019 and has completed 34 drill holes (5,278 metres drilled) to date, with assay results received for 18 holes.

The company is awaiting assays for the remaining 16 holes, which are expected shortly.

Quick facts: Red River Resources Limited

Price: 0.097 AUD

ASX:RVR
Market: ASX
Market Cap: $50.08 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Red River Resources Limited named herein, including the promotion by the Company of Red River Resources Limited in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Red River Resources developing multiple assets to maximise Thalanga Operations

Red River Resources Ltd (ASX:RVR) managing director Mel Palancian visits Proactive's Perth studio for his debut video; introducing the company and team, as well as discussing the portfolio of producing, developing, and exploration assets. There have been consecutive quarters of record...

on 19/2/19

2 min read