- Red River Resources (RVR) identifies four new potential drill targets at the Coronation prospect near its Thalanga Base Metal Operation in Northern Queensland
- The survey sought to follow up surface expressions of gold mineralisation at the Coronation North prospect, 40 kilometres of the Highway Reward Mine
- According to RVR, the targets indicate similar gravity and magnetic response to the said Highway-Reward deposit
- RVR has not outlined any specific information regarding planned further works or potential drill programmes at this stage
- Red River Resources shares were up 5 per cent to trade at 21 cents
Red River Resources (RVR) has identified four new potential drill targets at the Coronation prospect near its Thalanga Base Metal Operation in Northern Queensland.
RVR’s programme sought to follow-up surface expressions of mineralised barite-quartz-sulphide-gold veins.
The survey, which was undertaken over the Coronation North prospect on 50 metre and 100 metre spaced lines, identified four main features which will require further evaluation and drill testing.
According to RVR, the targets indicate similar gravity and magnetic response to the historic Highway-Reward deposit which produced 3.8 million tonnes at 6.2 per cent copper and one grams of gold per tonne.
RVR said the Highway and Reward deposits occur as steep dipping pipes and have associated gravity and IP chargeability anomalies.
The Coronation prospect is situated approximately four kilometres northwest of the Highway Reward mine.
RVR has not outlined any specific information regarding planned further works or potential drill programmes at this stage.
Red River Resources shares were up 5 per cent to trade at 21 cents at 2:00pm AEST.