Red River Resources has announced new exceptional high-grade drill results from its Liontown project in North Queensland.
Drilling at the New Queen Lens over time has returned wide intercepts of high-grade polymetallic fresh sulphide mineralisation with precious metals, particularly gold, from within 30m of the surface.
The latest assay resulted released include 1.70m at 1.1 per cent copper, 15.9 per cent lead, 30.8 per cent zinc, 21.8 g/t gold and 304 g/t silver (67.2 per cent zinc equivalent) from 62.40m down-hole. (Full table HERE)
The Liontown project is part of Red River’s Thalanga complex, 65km south-west of Charters Towers, which includes a processing plant and operating mines (Far West and West 45).
Red River is working to update a JORC 2012 Mineral Resource estimate for the New Queen Lens and has commenced preliminary mining studies.
It has completed 34 drill holes (5,278m drilled) since June last year, with assay results received for 23 holes.
The company said the mineral resource estimate would be completed when the assays for the outstanding 11 holes were received (expected by the end of January).
The ongoing exploration success at Liontown has increased potential to develop the deposit, with Red River seeking to accelerate production at Liontown ahead of developing the zinc-rich Waterloo deposit.
Most known New Queen Lens mineralisation falls within an existing mining lease (ML10277) held by Red River’s wholly owned subsidiary, Cromarty Resources.