Join our daily newsletter At The Bell to receive exclusive market insights
- Red River Resources (RVR) receives high-grade results from reverse circulation drilling at its Liontown Project in Queensland
- Results include grades of up to 11.74 grams of gold per tonne (g/t) and 27.5 per cent zinc equivalent from Gap Lode and 4.12g/t gold and 81.91g/t silver
- Red River says these results support the continuity of mineralisation and the opportunity to evaluate oxide gold potential
- Assays are pending for several holes from both areas and will be reported once they’ve been received
- Company shares are down 5.71 per cent to trade at 16.5 cents at 1:42 pm AEST
Red River Resources (RVR) has revealed high-grade polymetallic results from the Liontown Project which is part of its Thalanga Operation in Queensland.
The Liontown Project has a mineral resource of 4.1 million tonnes at 0.6 per cent copper, 1.9 per cent lead, 5.9 per cent zinc, 1.1 grams of gold per tonne (g/t) and 29g/t silver.
The company is undertaking an ongoing, multi-target reverse circulation (RC) drilling program which aims to increase the oxide gold potential overlaying the project area.
RVR also hopes to better understand the shallow mineralisation at the Gap Lode, which sits between the Liontown and Liontown East deposits.
Best and latest results from the Gap Lode include eight metres at 11.74g/t gold and 27.5 per cent zinc equivalent, two metres at 2.45g/t gold, 6.58 per cent copper, 0.04 per cent lead, 0.03 per cent zinc and 25.1g/t silver, and four metres at 4.38g/t gold and 15 per cent zinc equivalent.
These results support the strong continuity of mineralisation and the opportunity between the Liontown and Liontown East deposits.
Red River also received high-grade gold results from the New Queen oxide zone which include 14 metres at 4.12g/t gold, 0.12 per cent copper, 2.98 per cent lead, 4.95 per cent zinc and 81.91g/t silver.
Assays are pending for several more RC holes from both areas which will be reported once they’ve been received.
Looking ahead, drilling across Liontown will continue for the next year to focus on resource extensions and satellite targets.
Company shares were ddown 5.71 per cent to trade at 16.5 cents at 1:42 pm AEST.
