Red River Resources Ltd (ASX:RVR) (FRA:R1R) has increased its exposure to a strong gold market after being granted the Toomba Project in North Queensland and is awaiting the grant for the Don Project with both being near its Thalanga base metal operations.
As well as its plan to restart the Hillgrove Gold Project in NSW, the company is intent on building its gold inventory with projects near the Thalanga operations.
The base and precious metals miner is targeting known gold mineralisation within trucking distance of the base metal operations.
Maximising gold exposure
Red River managing director Mel Palancian said: “In parallel with plans to restart gold production at our Hillgrove project in NSW this year, we are working to maximise our exposure to gold at Thalanga, where we can produce gold in addition to our ongoing base metals operations.
“As part of that strategy, we have targeted areas of known gold mineralisation in the Thalanga region, and both the Toomba and Don projects fit that criteria with historical gold production and exciting prospects for follow-up.
“Our exploration team has commenced exploration activities at Toomba and is now planning a work program for the remainder of calendar year 2020.”
Both of the projects, 20-30 kilometres northwest of Thalanga, have historically produced gold with small-scale production from mesothermal vein systems hosting high-grade gold mineralisation.
Drilling in 2008/2009 at Toomba intersected high-grade gold mineralisation, such as 2 metres at 26.5 g/t gold and 43 g/t silver from 43 metres down-hole, but the results have yet to be followed up.
Red River has started exploration activities, which includes mapping and sampling at Toomba, which will be followed by trenching to better define the extent of the vein systems prior to drilling.
It is now planning a work program for the remainder of 2020.
Similar activities will be launched on the Don tenement provided it is granted.
Exploration by previous tenement holders confirmed the presence of high-grade gold mineralisation in multiple identified vein systems at the Toomba Project (Toomba Old Workings, Toomba East, Central and Lady Barrington) and the Don Project (Don and Don SW).
China Yunnan Copper completed nine reverse circulation drill holes at the Toomba Project in 2008/2009, which confirmed the presence of a laterally extensive mesothermal vein system, with PC005 returning the 2-metre intersection from 43 metres down-hole at the Toomba Old Workings.
This is a high priority exploration target for Red River.
Operations at the Toomba Mine (Toomba Old Workings) started in 1889 and several shafts were sunk.
Total output is recorded as 335 ounces of gold from the Toomba Mine (Qld Mines Dept 1936).
Samples from the Toomba East Vein Zone returned maximum results of up to 6.25 g/t gold, 68 g/t silver, 1.25% lead and 0.15% zinc.
Rock chip samples from the Lady Barrington Vein returned values to 8.81 g/t gold, 6 g/t silver, 0.57% lead and 0.18% zinc.
The intersection at the Toomba Old Workings returned an excellent assay result of 2 metres at 26.5 g/t gold, 43 g/t silver, 0.4% copper, 0.9% lead and 1.8% zinc.
Historical mining activity in the Don Project area was limited to the Don and Don Southwest mines.
At the former, historical records indicate a shaft was sunk on the Don reef to a depth of 53 metres and about 0.75 metres wide. The ore crushed assayed about 1-ounce silver.
In 1935, ore from the surface was crushed and assayed at around 15 dwt (pennyweight, where 1 pennyweight = 1.56 g/t) gold.
Historical samples of mineralised quartz vein material taken from mullock heaps contained between 1 to 3% galena-chalcopyrite-pyrite-bornite and returned assays up to 54.7 g/t gold.
The Don SW workings, about 600 metres south-west of the Don Workings, extend over a north-south trend of about 400 metres.
Historical sampling of mineralised quartz taken from mullock heaps contained 3-6% galena-chalcopyrite-pyrite-bornite, returning assays of up to 9.6 g/t gold.
At least five percussion holes were drilled by Rowe Drilling in 1992-3, from the west, but no company records of the drilling are available.
It is understood that drilling was undertaken by prospectors on a speculative basis.