Red River Resources Limited (ASX:RVR)’s ongoing multi-target RC drilling program at Liontown, part of its Thalanga Operation in north Queensland, has delivered high-grade gold and base metal results.
Liontown is a base metal project about 32 kilometres in a direct line from Red River’s Thalanga operations and 107 kilometres by road and is being developed as the third deposit within these operations.
The total project mineral resource in fresh sulphide at Liontown and Liontown East consists of 4.1 million tonnes at 0.6% copper, 1.9% lead, 5.9% zinc, 1.1 g/t gold and 29 g/t silver (or 12.7% zinc equivalent) and a shallow oxide gold resource of 113,000 tonnes at 1.9 g/t gold and 24 g/t silver.
Future production from the Liontown sulphide resource will be trucked to the processing plant at Thalanga.
Red River intends to commence mining at Liontown in FY23 and over the next 12 months, drilling at Liontown will focus on delineation, resource extensions and satellite targets.
High-grade polymetallic results
Red River’s current drilling at Liontown aims to further quantify the oxide gold potential overlaying the Liontown sulphide resource and increase the knowledge of the shallow Gap Lode mineralisation, which is in between the known Liontown and Liontown East deposits.
New results show strong Gap Lode intercepts:
- 8 metres at 11.74 g/t gold, 0.85% copper, 0.3% lead, 0.8% zinc and 6.74 g/t silver (27.5% zinc equivalent);
- 2 metres at 2.45 g/t gold, 6.58% copper, 0.04% lead, 0.03% zinc and 25.1 g/t silver (oxide); and
- 4 metres at 4.38 g/t gold, 0.71% copper, 0.14% lead, 3.68% zinc and 3.38 g/t silver (15.0% zinc equivalent).
High-grade gold intercepts from New Queen (oxide) zone:
- 14 metres at 4.12 g/t gold, 0.12% copper, 2.98% lead, 4.95% zinc and 81.91 g/t silver;
- 9 metres at 2.03 g/t gold, 0.02% copper, 0.78% lead, 0.03% zinc and 11.52 g/t silver.
Strong continuity
At Gap Lode RC drilling has returned high-grade gold-copper mineralisation with strong lead and zinc associations.
All current assays results have been returned.
Drilling supports the strong continuity of mineralisation and opportunity between the Liontown and Liontown East deposits.
Several RC holes have assays pending, with visual logging indicating a continuity of the mineralised trend.
Oxide gold potential
Three RC holes have returned assays supporting the opportunity to evaluate oxide gold potential within an open-cut operation.
Assays are pending from additional RC holes, with visual logging indicating a continuity of the mineralised trend.
Results will be made available when the company has them.
Upcoming catalysts at Liontown
Other than pending assays which will be delivered shortly and in due course, Red River is completing preparation work for operations at Liontown.
The company has submitted a Mining Lease application and is preparing an Environmental Authority application, which it expects to submit in October 2021.
Red River is also evaluating a processing plan for the oxide gold from Liontown, which will require metallurgical test-work to develop the appropriate flowsheet.