Red River Resources Limited (ASX: RVR) announced that encouraging initial results were received from the first-pass RC drilling program at the New Homestead and the Don gold prospects within its Thalanga Operations in northern Queensland.
The company said that assay results were received from RC drilling completed at the Don (10 holes for 910m) and New Homestead (10 holes for 958m) gold targets. RVR reported that strong results were received from the Don prospect with high-grade gold mineralisation intersected in Main Vein.
Standout intersections included 1.0m @ 28.0 g/t Au from 34.0m down hole; 6.0m @ 2.2 g/t Au from 77.0m down hole including 1.0m @ 6.4 g/t Au from 78.0m down hole; and 4.0m @ 2.0 g/t Au from 40.0m down hole including 1.0m @ 4.7 g/t Au from 41.0m downhole.
The company said that first-pass RC drilling will be undertaken next at the Toomba gold prospect in early May.
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.
RVR’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.
At Thalanga, Red River produces zinc, copper, and lead with gold and silver credits but is also seeking to build its exposure to gold. Red River had applied for the Toomba and Don exploration tenements near Thalanga in 2020.
Drilling at Thalanga
The company had recently commenced first-pass reverse circulation (RC) drilling program at the New Homestead and the Don gold prospects, part of its Thalanga Operations. The drilling targeted gold in areas proximal to its Thalanga Operation.
Red River had completed RC drilling at the Don prospect, approximately 20km NW of Thalanga, with 10 RC holes completed for 910 metres. At New Homestead Prospect, 10 RC holes were completed for 958 metres.
High-grade drill results
Red River announced high-grade results from the first-pass RC drilling program at the New Homestead and the Don gold prospects.
Red River reported that at the Don prospect, the drilling intercepted extensive quartz sulphide veining and associated alteration in multiple holes. The company said that assay results confirmed the presence of high-grade mesothermal gold mineralisation at shallow depths in a number of holes.
RVR said that 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. The company said that the gold mineralisation intercepted at the Don is open in all directions (strike and dip).
Important drill results from the Don prospect are as shown below.
New Homestead prospect
The company said that at New Homestead Prospect, drilling intersected quartz sulphide veining in several holes. Important drill results from the New Homestead prospect are as shown below.
Red River said that it plans to undertake first pass RC drilling at the Toomba gold prospect, which is currently scheduled to start in early May. The company said that the initial RC drill program at Toomba will comprise 13 holes for 1,379 metres.
Red River Resources Managing Director Mel Palancian said: “The drill results received from the Don are an excellent start to our Thalanga gold exploration program, demonstrating the presence of gold mineralisation at shallow depths.
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.”
Image Source: Red River Resources Limited