- Red River Resources (RVR) has commenced a drilling program targeting gold areas near its Thalanga Operations in northern Queensland
- The company will drill 33 reverse circulation holes at the New Homestead, Toomba and Don targets
- Red River is expecting results from this current drilling program in three to four weeks
- Once it receives these results, Red River will plan follow-up drilling
- On market close for the day, Red River is down 2.04 per cent and is trading at 24 cents per share
Red River Resources (RVR) has commenced a drilling program targeting gold areas near its Thalanga Operations in northern Queensland.
The company is currently mining the Far West deposit at Thalanga.
The reverse circulation (RC) drilling program will include 33 holes at the New Homestead, Toomba and Don targets to quickly assess the most prospective portions of lodes.
Currently, 10 RC drill holes have been drilled at New Homestead and 10 RC holes at the Don prospect.
Red River is expecting results from this current drilling program is expected in three to four weeks.
Once it receives these results, Red River will plan follow-up drilling and complete the remaining part of the initial RC drilling program.
Thalanga lies roughly 55 kilometres west of Charters Towers and consists of a 650,000-tonne-per-annum mill, which produces copper, lead and zinc concentrate.
Last week, the company began increasing exploration activities at Thalanga. The aim of these activities is to expand production and extend the mine life of the project.
On market close for the day, Red River is down 2.04 per cent and is trading at 24 cents per share.