Red River Resources Ltd (ASX:RVR) has fielded up to 23.8 g/t gold following a drill program at the Hillgrove Gold Project in northern New South Wales.
The precious metals and base metals producer reported assays for nine holes drilled at the Sunlight deposit, where results included:
- 4 metres at 1.6 g/t gold and 1.2% antimony from 357 metres downhole and 0.5 metres at 23.8 g/t gold from 270.5 metres;
- 0.4 metres at 1.7 g/t gold and 15% antimony from 421 metres;
- 3.6 metres at 3.3 g/t gold and 1.5% antimony from 220 metres; and
- 5 metres at 2.2 g/t gold from 298 metres.
Two rigs continue to turn the soil at Hillgrove, aiming to grow the project into a larger scale, longer-life gold and antimony operation.
What do the findings tell us?
Red River’s Sunlight drill program was designed to extend the deposit’s mineralisation to the east.
Positively, the results increased the explorer’s understanding of the deposit and demonstrate that extensions of the Sunlight mineral resource to the east and at depth are possible.
As a result, assays for the program will be included in the next resource update.
Interestingly, several holes have intersected a previously unrecognised gold-tungsten zone to the east of Sunlight.
Hillgrove has an existing JORC 2012 mineral resource of 7.23 million tonnes at 4.5 g/t gold and 1.2% antimony (1.037 million ounces of contained gold and 90,000 tonnes of contained antimony).
Big-picture, RVR continues to build confidence to transition Hillgrove from a historical narrow vein project into a larger-scale gold operation.
The Red River story
RVR is building a multi-asset operating business focused on base and precious metals.
The company’s foundational asset is the Thalanga Base Metal Operation in Northern Queensland, which was acquired in 2014 and where RVR commenced copper, lead and zinc concentrate production in September 2017.
RVR has also since begun production at the high-grade Hillgrove Gold Operation in New South Wales, which was acquired in 2019.
Ultimately, the Hillgrove operation forms a key part of RVR’s strategy to build a multi-asset operating business focused on base and precious metals.