Strong Results Received From Don Prospect
Red River Resources Limited (ASX:RVR) has received encouraging initial results from its first-pass reverse circulation (RC) drilling programme at the New Homestead and the Don gold prospects, part of its Thalanga Operations in northern Queensland.
Drilling is targeting gold in areas proximal to its Thalanga Operations, where Red River produces zinc, copper and lead with gold and silver credits but is also seeking to build its exposure to gold. Red River applied for the Toomba and Don exploration tenements near Thalanga in 2020.
Managing Director, Mel Palancian, said multiple RC drill holes (DNRC001, 002, 003 and 004) intersected high-grade mesothermal gold mineralisation in the Main Vein at the Don, with high grade and wider lower grade intercepts demonstrating the Main Vein potential.
Gold mineralisation intercepted at the Don is open in all directions (strike and dip). Red River plans to undertake first pass RC drilling at the Toomba gold prospect, which is currently scheduled to start in early May.
“The drill results received from the Don are an excellent start to our Thalanga gold exploration programme, demonstrating the presence of gold mineralisation at shallow depths,” Mr Palancian said.
“We will continue to explore the Thalanga region for its gold potential, aiming to build our resource inventory at Thalanga while we also ramp up gold production at our Hillgrove Gold Mine in NSW.”
Red River completed RC drilling at the Don prospect, approximately 20km NW of Thalanga, with 10 RC holes completed for 910 metres. The drilling intercepted extensive quartz sulphide veining and associated alteration in multiple holes. Assay results confirmed the presence of high-grade mesothermal gold mineralisation at shallow depths in a number of holes.
Material intersections include:
- DNRC001 intersected 1.0m @ 28.0 g/t Au from 34.0m down hole
- DNRC002 intersected 6.0m @ 2.2 g/t Au from 77.0m downhole, including 1.0m @ 6.4g/t Au from 78.0m down hole; and
- DNRC003 intersected 4.0m @ 2.0 g/t Au from4 0.0m downhole, including 1.0m @ 4.7g/t Au from 41.0m downhole
