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Red River Resources hits visible gold in maiden diamond drilling at Hillgrove

The company plans to restart gold production from the Bakers Creek stockpile at Hillgrove by late 2020.

Red River Resources Limited - Red River Resources hits broad gold mineralisation in maiden diamond drilling at Hillgrove in NSW
The Hillgrove Gold Project is around 30 kilometres from Armidale in NSW

Red River Resources Ltd (ASX:RVR) has received encouraging early results, including visible gold, from a maiden diamond drilling program targeting the Eleanora Garibaldi Lode at Hillgrove Gold Project in NSW.

The company plans to restart gold production from the Bakers Creek stockpile at Hillgrove in northern NSW by late 2020 before resuming underground operations in 2021.

Coarse-grained visible gold in hole ELG141

Gold assays have been received from holes ELG136, ELG137 and ELG138 with other assays including antimony still outstanding as laboratory turnaround times have increased.

Broad intervals of gold mineralisation were intersected including:

  • 16.6 metres at 2.1 g/t from 41.4 metres, including 4 metres at 4 g/t from 51 metres; and
  • 8.6 metres at 3.2 g/t from 62.4 metres, including 3.7 metres at 4.6 g/t from 63.7 metres.

This initial drilling at Eleanora has confirmed the presence of the high-grade gold-antimony Eleanora vein system and adjacent halos of low to medium-grade gold mineralisation.

Two large panels of the Eleanora lode were not mined historically and represent potential mining fronts close to surface and the existing Hillgrove processing plant.

The recent drilling has confirmed the potential to mine these remnant panels to gain access to the deeper Eleanora resources which will be converted from JORC 2004 to JORC 2012 status.

Drilling to follow-up sampling 

On completion of this 9-hole program, the drill rig will begin drilling Curry’s Lode targets to complete a 7-hole program and follow up Red River’s surface sampling, which defined extensive high-grade gold antimony mineralisation.

The planned Curry’s Block drilling will be partially funded by a grant from the NSW Government New Frontiers Cooperative Drilling Grants Program.

Quick facts: Red River Resources Limited

Price: 0.195 AUD

Market: ASX
Market Cap: $100.97 m

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