- Red River Resources (RVR) has intersected up to 32.3g/t gold from its maiden diamond drilling program at the Eleanora Lode
- These results have confirmed the presence of high-grade gold-antimony and show that there is a significant resource which Red River will aim to identify
- Once all assays are received, Red River will plan a second phase of drilling at the Eleanora Lode with aims to grow the resource and upgrade it to JORC 2012
- Further, the company is aiming to produce gold alloys from the Bakers Creek stockpile then resume underground operations at the Metz Mining Centre
- Red River has ended the day an even four per cent in the green with shares trading for 13 cents each
Red River Resources (RVR) has intersected up to 32.3g/t gold from its maiden diamond drilling program at the Eleanora Lode.
The Eleanora Lode lies within the Hillgrove Gold Project which is located roughly 30 kilometres from Armidale in New South Wales.
Best results include 0.45 metres at 32.3g/t gold and 6.9 per cent antimony from 144.4 metres, and 7.5 metres at 4.1g/t gold and 0.6 per cent antimony from 141 metres including 1.75 metres at 15.6g/t gold and 2.7 per cent antimony from 143.8 metres.
These results have confirmed the presence of high-grade gold-antimony within the Eleanora vein system.
The high-grade result of 32.2g/t, as well as visible gold, shows that there is a significant resource which Red River will aim to identify.
Once all assays are received, Red River will plan a second phase of drilling at the Eleanora Lode with aims to grow the resource and upgrade it to JORC 2012.
Further, the company is aiming to produce gold alloys from the Bakers Creek stockpile then resume underground operations at the Metz Mining Centre to produce gold-antimony concentrate.
Red River has ended the day an even four per cent in the green with shares trading for 13 cents each in a $64.52 million market cap.