- Red River Resources (RVR) intercepts mineralisation of up to 20 per cent zinc at its Liontown Gap Lode
- The company is reportedly developing the site as its third mine at its Thalanga operation, focusing on an open pit/underground development
- Red River aims to complete further drilling in the Liontown Gap area over the next twelve months
- Drill results from the remainder Liontown RC drilling program will be reported by the end of CY 2021
- Shares have been trading down 5.41 per cent at 18 cents
Red River Resources (RVR) has intercepted mineralisation of up to 20 per cent zinc at its Liontown Gap Lode project.
The reportedly “high grade” polymetallic results come from the company’s multi-target reverse circulation (RC) drilling program, which is part of its Thalanga operation in Queensland.
The company says the drilling strengthens the interpretation of the current gap inferred mineral resource and demonstrates the opportunity for further expansion between the Liontown and Liontown East deposits.
Red River is reportedly developing the site as its third mine at Thalanga and is focusing on an open pit/underground development with a conceptual mine life of 10 plus years.
Mining at Liontown is expected to commence in CY2022.
Red River will complete further drilling in the Liontown Gap area over the next 12 months, including six diamond tails from the completed RC pre-collars and an additional eight diamond holes.
This drilling will narrow the drill spacing to 60m in the centre of the current gap mineral resource and support the development of underground drill platforms early in the life of the underground operation.
Drill results from the remainder Liontown RC drill program will be reported by end of CY2021.
Shares in Red River Resources were trading down 5.41 per cent at 18 cents at 12.38 pm AEDT.