- Red River Resources (RVR) has poured its first gold at its Hillgrove Gold Mine in New South Wales
- This gold pour was the first in more than 20 years, and the bar weighed 0.97 kilograms and graded 83 per cent gold and 13 per cent silver
- To maximise gold recovery, Red River installed a Consep Acacia Leach Reactor, which typically recovers between 95 per cent to 98 per cent gold
- Mining and processing is continuing at Hillgrove with roughly 18,000 tonnes of Bakers Creek Stockpile mined and processed to date
- Red River is up a slight two per cent on the market this morning and shares are trading at 25.5 cents
Red River Resources (RVR) has poured first gold at its Hillgrove Gold Mine in New South Wales.
This gold pour was the first in more than 20 years, and the bar weighed 0.97 kilograms and graded 83 per cent gold and 13 per cent silver.
Hillgrove lies 23 kilometres east of Armidale in NSW, and Red River acquired it in August 2019 from a private vendor.
To date the mine has produced more than 730,000 ounces of gold and more than 50,000 tonnes of antimony.
To maximise gold recovery, Red River installed a Consep Acacia Leach Reactor, which typically recovers between 95 per cent to 98 per cent gold.
“The start of gold production at Hillgrove represents a material step in our strategy to build a multi-asset operating business focused on base and precious metals,” Managing Director Mel Palancian said.
“I look forward to updating the market as we increase gold production from the Bakers Creek Stockpile in stage one before we move to the full restart of UG production in stage two, producing gold, gold concentrate and gold-antimony concentrate,” he added.
Mining and processing are continuing at Hillgrove with roughly 18,000 tonnes of Bakers Creek Stockpile mined and processed to date.
Red River is up a slight two per cent on the market and shares are trading at 25.5 cents at 11:25 am AEDT.