- Red River Resources (RVR) unveils high-grade gold intercepts from five holes at the Eleanora-Garibaldi deposit within its Hillgrove gold project in New South Wales
- This drill program at Eleanora-Garibaldi was designed to follow up on previous drilling across the northern extent of the historically-mined Eleanora lode
- Red River says the latest results increase its confidence in the northern end of the Eleanora-Garibaldi mineral resource
- The company is currently completing a strategic review of Hillgrove before recommencing mining
- Shares in Red River are up 5.45 per cent and trading at 14.5 cents at 2:24 pm AEST
Red River Resources (RVR) has unveiled high-grade gold intercepts from five holes at the Eleanora-Garibaldi deposit within its Hillgrove gold project in New South Wales.
This drill program at Eleanora-Garibaldi was designed to follow up on previous drilling across the northern extent of the historically-mined Eleanora lode.
Drilling is still ongoing, with the deposit remaining open and considered a priority target by the company.
The most significant results from the recent bout of drilling include 15 metres at 2.4 grams per tonne (g/t) gold from 146 metres downhole, including 11.5m at 2.9 g/t gold from 147 metres, and 8.1 metres at 3.0 g/t gold from 168.5 metres, including 1.8 metres at 5.8 g/t gold from 168.5 metres.
Red River said these latest results increase its confidence in the northern end of the Eleanora-Garibaldi mineral resource
Red River is now drilling two more holes at Eleanora North to follow up on these results.
Meanwhile, assays are still pending for a further 15 holes the company has completed at Eleanora-Garibaldi.
The company said it was currently completing a strategic review of Hillgrove before recommencing mining.
Hillgrove has an existing JORC 2012 mineral resource of 7.23 million tonnes at 4.5 g/t gold and 1.2 per cent antimony.
Shares in Red River were up 5.45 per cent and trading at 14.5 cents at 2:24 pm AEST.