- Red River Resources (RVR) has updated the mineral resource for its Hillgrove Gold Project in New South Wales
- The increased resource reads five million tonnes at 4.3g/t gold and 1.5 per cent antimony
- Red River now remains on track to restart gold production at Hillgrove by the end of the year with work initially focusing on the Bakers Creek stockpile
- In CY21, work will then focus on the Syndicate Lode and the Blacklode and Sunlight mineral resources
- Red River is down 3.7 per cent on the market and shares are trading for 13 cents each
Red River Resources (RVR) has updated the mineral resource for its Hillgrove Gold Project in New South Wales.
Hillgrove lies 23 kilometres east of Armidale in NSW and Red River acquired it in August 2019 from a private vendor.
Modern mining operations began in 1969 and to date it has produced more than 730,000 ounces of gold and 50,000 tonnes of antimony.
The updated mineral resource now includes five million tonnes at 4.3g/t gold and 1.5 per cent antimony with 692,000 ounces of contained gold and 75,000 tonnes of contained antimony.
This update comes after Red River updated the mineral resource at Syndicate Lode to 318,000 tonnes at 3.8g/t gold and 3.6 per cent antimony with 39,000 ounces of contained gold and 11,000 tonnes of contained antimony.
Red River now remains on track to restart gold production at Hillgrove by the end of the year, with work initially focussed on the Bakers Creek stockpile.
In CY21, work will focus on the Syndicate Lode and the Blacklode and Sunlight mineral resources.
Red River is down 3.7 per cent on the market and shares are trading for 13 cents each at 11:33 am AEST.