Right Resources (ASX:RRE) has used historic information and modern technology to identify exploration targets at the Mary Read and Kingston prospects within the New England Fold Belt in New South Wales.
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The two targets were defined following desktop studies of historic drilling, LiDAR interpretation and geophysical datasets.
MD, Graham Howard, said ongoing technical work continues to unlock value across the company’s broader New England tenement package.
“While we continue to advance our flagship Pilot project, we are equally focused on unlocking value across our broader portfolio,” he explained. “Today’s release of exploration targets across two prospects at the New England Region marks another important milestone in that strategy.”
Right holds a substantial exploration footprint in NSW, comprising ~1,891 square kilometres in Tumbarumba and 198sqkm in New England.
“We are pleased to have defined a compelling high-grade gold and silver exploration target at Kingston and delivered strong results from Mary Read,” Mr Howard added.
“The establishment of these exploration targets highlights the scale and strength of a potentially significant gold-silver system across EL9172.
“While gold remains our primary focus, the silver upside identified in these results and from historical drilling, enhances the overall opportunity of New England and reinforces the potential scale of the asset.”
The New England region was the site of early gold rushes and historic gold, silver and base metal production.
In CY23, Right Resources completed a high‐resolution LiDAR survey across the New England tenements. It then applied proprietary algorithms to identify subtle topographic features interpreted to represent unrecorded historic workings and structural controls on mineralisation.
Right intends to continue its geophysical evaluation across the northern and eastern portions of EL9142. That will include detailed LiDAR analysis and interpretation of magnetic survey data to delineate historic workings and key structural trends, which will guide follow‐up ground investigations.
RRE is up +3.85%, to 13.5c. Mkt cap $208.4M.
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