Red River Resources Limited (ASX:RVR)'s mineral resource delineation drilling assays, including high-grade zinc, have increased confidence at the Liontown resource, part of the company’s Thalanga Operations in Northern Queensland.
Results received for the first nine holes have further highlighted the potential at Liontown with high-grade zinc along with lead, copper, silver and gold, and include:
- 18.7 metres at 10.6% zinc equivalent from 250.3 metres downhole;
- 5.8 metres at 13.2% zinc equivalent from 331.8 metres;
- 6 metres at 10.2 % zinc equivalent from 276.4 metres;
- 4.9 metres at 20.4% zinc equivalent from 324.6 metres;
- 10 metres at 15.0% zinc equivalent from 264 metres; and
- 5.7 metres at 18.8% zinc equivalent from 235.9 metres.
The 4.9-metre intersection comprised 13.65% zinc, the 5.7-metre intersection had 8.1% zinc and the 5.8-metre intersection had 7.8% zinc.
Looking ahead, Red River will continue its resource delineation and extensional drilling over the course of the next 12 months at the Liontown deposit.
Drill program
Red River is undertaking the resource drilling program to increase confidence in the Liontown resource, as it is develops Liontown as the third deposit within the Thalanga Operations.
To date, Red River has completed 13 diamond holes on the Main Lode and one on the Gap Lode.
Importantly, drilling aims to reduce the drill spacing across the indicated and inferred areas of the current mineral resource
The results generally support the widths and grades of the mineralisation modelled for the resource.
Forward plan
Two diamond drill rigs are in operation undertaking drilling through the Main Lode and Gap Upper areas.
Drilling will then progress to the Western Footwall area and towards the end of the program, the Liontown East area.
Importantly, drilling is intended to allow the upgrade of inferred mineral resources to the indicated classification.
Four holes completed in the lower western area of the Main Lode are awaiting assays and current drilling in the upper area will continue over the next three months.
About Liontown
Red River’s Liontown Project is about 32 kilometres in a direct line from its Thalanga Operations and 107 kilometres by road.
The Liontown resource contains a sulphide mineral resource 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 for 12.7% zinc equivalent.
The deposit is of volcanogenic-hosted-massive-sulphide (VHMS) style and is hosted within CambroOrdovician marine volcanic and volcano-sedimentary sequences of the Mt Windsor Volcanic Sub-province.
Furthermore, the deposit demonstrates strong affinities with other well-known deposits in the region including the Liontown East, Waterloo and the operating Thalanga group deposits.