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Red River Resources to outline Hillgrove restart strategy at virtual conference

Managing director Mel Palancian will present at the NWR Communications Virtual Small Cap Resources Conference on Wednesday.

Red River Resources Limited - Red River Resources to outline Hillgrove restart strategy at Virtual conference
Existing processing infrastructure at the Hillgrove Gold Mine

Red River Resources Limited (ASX:RVR) will be outlining recent operational performance at its Thalanga Base Metal Operation in Northern Queensland and plans to restart the Hillgrove Gold Project in New South Wales at a virtual conference this week.

The company’s managing director Mel Palancian will be making an online presentation to shareholders and investors at the NWR Virtual Resources Conference to be held at 9am on Wednesday, May 6.

This event organised by NWR Communications is free and investors can register online to view the presentation - https://us02web.zoom.us/webinar/register/WN_VlB-2IoySTW7fctSL3AvZg

Record copper production

Red River improved the operating performance in the March quarter at Thalanga by improving mill production and throughput, resulting in higher production of zinc and lead concentrates and record copper concentrate production.

Mine production for the March quarter totalled 91,000 tonnes at 9.4% zinc equivalent, compared to the December quarter's 60,000 tonnes at 9% zinc equivalent.

Total ore processed in the three months was 84,000 tonnes at 8.5% zinc equivalent, up from 66,000 tonnes at 8.4% in the previous quarter.

Copper concentrate production was 2,310 tonnes, a record quarterly total and well up on the 876 tonnes of the previous quarter.

Zinc concentrate increased to 4,310 tonnes in the quarter ending March 31 compared with 3,781 tonnes in the December quarter.

Lead concentrate increased to 1,117 tonnes, up from 876 tonnes in the previous period.

Hillgrove restart

The company recently acquired the high-grade Hillgrove Gold Project in New South Wales, with the intent to commence gold production in 2020.

During the March quarter, metallurgical test work for Hillgrove’s Bakers Creek gold stockpile demonstrated free gold and simple processing route, providing a rapid low capex restart opportunity with low-cost gold production.

The stockpile has a maiden JORC mineral resource of 225,000 tonnes at 2.5 g/t gold.

Red River has also commenced the acquisition of equipment (gravity gold concentrate circuit) for the planned restart.

Quick facts: Red River Resources Limited

Price: 0.094 AUD

Market: ASX
Market Cap: $48.53 m

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