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- Red 5 (RED) reports “outstanding” drilling results at its KOTH underground gold mine in Western Australia
- High-grade results from the resource extension and grade control drilling include 6.4 metres at 10.85g/t gold from 70.9 metres and nine metres at 7.55g/t gold from 72 metres
- These drilling results support long-term growth potential for the mine, including possible extensions
- RED is now preparing for further underground drilling to define extensions from the current mines and identify new mineralisation zones
- RED is up 2.86 per cent, trading at 18 cents at 12:21 pm AEST
Red 5 (RED) has reported “outstanding” drilling results at its King of the Hills (KOTH) underground gold mine in Western Australia.
High-grade assays from the underground resource extension and grade control drilling during 2H FY23 included 6.4 metres at 10.85 grams per tonne (g/t) gold from 70.9 metres and nine metres at 7.55 g/t of gold from 72 metres.
“Our underground drilling programs are continuing to confirm the robust nature of the King of the Hills resource and reserve models, with these latest results from grade control and resource extension drilling supporting our mine plan over the next 12 months and defining extensions to the key Regal, Eastern Flanks and West Bulk mining areas,” RED Managing Director Mark Williams said.
“Despite the enormous amount of drilling completed to date, large sections of the King of the Hills orebody remain relatively undrilled, and we see outstanding potential to continue expanding the existing resource and reserve inventory to further extend the current mine life.”
These drilling results support the long-term growth potential for the mine, including possible extensions.
RED is preparing for further underground drilling to define extensions from the current mines and identify new mineralisation zones.
Red 5 shares were up 2.86 per cent, trading at 18 cents at 12:21 pm AEST.
