Red River Resources Ltd (ASX:RVR) has built confidence in its ability to transform the Hillgrove Gold Mine in northern NSW into a larger-scale operation with further wide, high-grade results from drilling.
The multi-commodity producer has received results from 10 holes at the Eleanora-Garibaldi deposit with assays from a further five holes in the completed program awaited.
Broad, high-grade results
Best results are:
- 9.5 metres at 9.2 g/t gold and 1.6% antimony from 60.5 metres downhole;
- 19.5 metres at 4.3 g/t and 0.8% from 70 metres;
- 19 metres at 3.3 g/t and 1.2% from 31 metres, including 1.5 metres at 11.0 g/t and 1.5% from 48.5 metres;
- 12.2 metres at 6.7 g/t and 0.2% from 41 metres, including 8.8 metres at 8.2 g/t from 43.5 metres;
- 20.3 metres at 4.1 g/t and 0.9% from 51 metres; and
- 9.4 metres at 7.4 g/t and 1.9% from 61.9 metres.
These results have increased the company’s confidence in the Hillgrove resource while the Eleanora-Garibaldi deposit remains open.
High-grade intercepts within broader mineralised zones provide encouragement for Red River and build the company’s confidence to transition Hillgrove from a historical narrow vein project into a larger-scale gold operation.
Hillgrove has an existing JORC 2012 mineral resource of 7.23 million tonnes at 4.5 g/t gold and 1.2% antimony for 1.037 million ounces of contained gold and 90,000 tonnes of antimony.
Three lodes intersected
At Eleanora-Garibaldi the company has received assays for 10 holes in a follow-up drill program and these holes intercepted three lodes of structurally controlled gold-antimony dominated mineralisation.
These north-south striking, near vertical lodes from west to east include the Main Lode, a southern continuation of the main Eleanora system, the Central Lode and the East Lode.
Gold and antimony hits
The Main and Central lodes merge in some holes and high-grade gold and antimony mineralisation include:
- 19.5 metres at 4.3 g/t gold and 0.8% antimony from 70 metres downhole;
- 19 metres at 3.3 g/t and 1.2% from 31 metres;
- 12.2 metres at 6.7 g/t and 0.2% from 41 metres; and
- 20.3 metres at 4.1 g/t and 0.9% from 51 metres.
Main Lode high-grade gold and antimony intercepts include:
- 3 metres at 3.1 g/t gold and 0.5% antimony from 105.5 metres;
- 2.5 metres at 2.5 g/t and 1.7% from 83 metres;
- 2 metres at 4.3 g/t and 0.1% from 103 metres;
- 4 metres at 4.2 g/t and 0.7% from 61 metres; and
- 9.4 metres at 7.4 g/t and 1.9% from 69.1 metres.
Central Lode high-grade intercepts include 3.5 metres at 2.2 g/t gold and 0.2% antimony from 51 metres.
East Lode intercepts include:
- 3.5 metres at 3.9 g/t gold and 2.7% antimony from 38.5 metres;
- 2.5 metres at 2.5 g/t and 0.2% from 47 metres;
- 9.5 metres at 9.2 g/t and 1.6% from 60.5 metres;
- 1-metre at 9.7 g/t and 6.9% from 60.5 metres;
- 1.5 metres at 0.4 g/t and 6.7% from 43.5 metres; and
- 1.5 metres at 5.3 g/t and 0.1% from 24 metres.
The company’s production restart at Hillgrove is currently under a strategic review.
Historically, Garibaldi had a small open pit, which is around 155 metres long, 40 metres wide and 10 metres deep to take advantage of the multiple gold lodes and bulk low-grade material.