Red River Resources Limited (ASX:RVR) has increased the mineral resource for Hillgrove Gold Project in northern NSW to 692,000 ounces of gold and 75,000 tonnes of antimony after updating the Syndicate Lode resource estimate.
The Hillgrove resource now sits at 5 million tonnes at 4.3 g/t gold and 1.5% antimony while the Syndicate Lode resource now stands at 318,000 tonnes at 3.8 g/t gold and 3.6% antimony or 8.9 g/t gold equivalent for 39,000 ounces of gold and 11,000 tonnes of antimony at a 3 g/t gold equivalent cut-off.
Hillgrove, which is east of Armidale, also has a substantial remaining JORC 2004-compliant mineral resource, which Red River is systematically converting to JORC 2012 compliance.
Restarting gold production
Red River is on track to recommence Hillgrove’s gold production later this year, initially from the Bakers Creek stockpile before restarting underground operations in 2021.
Underground mining will focus on the Syndicate Lode plus the Blacklode and Sunlight mineral resources, which are accessible from existing development.
Hillgrove Mineral Field schematic section.
Metz Mining Centre
Syndicate Lode is in the Metz Mining Centre, which also includes the Blacklode, Sunlight and Cox’s Lode systems.
The Metz Mining Centre has a mineral resource of 3 million tonnes at 4.5 g/t gold and 1.4% antimony for 426,000 ounces of contained gold and 41,000 tonnes of contained antimony and will underpin the restart of underground operations at Hillgrove.
To date, Hillgrove has produced more than 730,000 ounces of gold in bullion and concentrates, and 50,000 tonnes of antimony as metal and in concentrates plus material amounts of by-product tungsten in concentrates.