Historic Day For NSW Development
Red River Resources Limited (ASX: RVR) has poured its first gold at its Hillgrove Gold Mine in New South Wales, Australia.
Managing Director, Mel Palancian, said the achievement marks an important step forward in RVR’s strategy of building a multi-asset operating business focused on base and precious metals.
“I would like to thank our employees, consultants and contractors who have contributed to this significant achievement. The start of gold production at Hillgrove represents a material step in our strategy to build a multi-asset operating business focused on base and precious metals,” Mr Palancian said.
“Red River completed the Hillgrove Gold Mine acquisition in August 2019 for A$4 million in RVR shares, and we decided that the best way to bring this project back into production through treating material from the Bakers Creek stockpile before resuming underground operations, with methodical permitting, refurbishment and upgrade activities to execute our strategy.”
“I look forward to updating the market as we increase gold production from the Bakers Creek Stockpile in Stage 1 before we move to the full restart of UG production in Stage 2, producing gold, gold concentrate and gold- antimony concentrate.”
Red River has installed a Consep Acacia Leach Reactor at Hillgrove to maximise recovery of gold from the Knelson gravity gold concentrate.
The plant consists of an up-flow fluidised reactor for the leaching process, which has been developed and optimised to produce the ideal solid-liquid interaction for maximised gold leaching reaction kinetics without mechanical agitation.
Mining and processing activities continue to ramp up at the Hillgrove Gold Mine. To date, approximately 18,000 tonnes of Bakers Creek Stockpile has been mined and processed through the Hillgrove Plant. Currently there are an estimated 800 – 1,000 ounces of gold in the circuit.
Red River is seeking to build a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development.
The company’s foundation asset is the Thalanga Base Metal Operation in Northern Queensland, which was acquired in 2014 and where RVR commenced copper, lead and zinc concentrate production in September 2017.
It acquired the high-grade Hillgrove Gold Operation in 2019.
