Redcastle Resources (ASX:RC1) has kicked off a 2,700 metre RC drill run on-site at its Western Australian “MCE and Sligo Gold Targets” part of the Redcastle Project Area, with first assay results anticipated back before CY26.
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Disclaimer: This content has been prepared as part of a partnership with Redcastle Resources Ltd and is intended for informational purposes only.
The MCE target – which stands for Morgan’s Castle East – is the predominant focus right now for geotechs, given the aim is to build from that target the company’s first maiden JORC resource estimate. As part of a JV, Redcastle continues to plug away at the Queen Alexandra and Redcastle Reef targets nearby.
But the RC drilling at MCE will be what investors are likely most interested in.
The company also noted Friday it’s got three other targets it has its eyes on, once the campaign at MCE and Sligo wraps up – assuming, of course, the company doesn’t re-drill those prospects a few times towards building out a resource.
“The primary aim of drilling at MCE is to increase geological knowledge at MCE and collect the data required to support, if warranted by results, an initial JORC-compliant Mineral Resource estimate,” the company wrote on Friday.
“The potential future use of MCE as a supplementary ore source alongside QA and RR would remain subject to drilling outcomes, technical studies, regulatory and RB JV approvals… the Sligo target area (Sligo), located east of MCE, lies within MLA39/1170 (100% RC1) and represents a drilling opportunity to extend the mineralised corridor.”
RC1 last traded at 0.9cps.
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