Red River Resources encouraged by Thalanga drill results as it builds exposure to gold

Red River Resources Ltd (ASX:RVR) has received encouraging initial results from its first-pass reverse circulation (RC) drilling program at the New Homestead and Don gold prospects, part of its Thalanga Operations in northern Queensland. The program is targeting gold in areas proximal to its Thalanga operations, where Red River produces zinc, copper and lead with gold and silver credits. This comes as the company seeks to build its exposure to gold at and near Thalanga as well as its new Hillgrove operations in northern NSW. The company applied for the Toomba and Don exploration tenements near Thalanga in 2020. Multiple RC holes intersected mesothermal gold mineralisation up to 1-metre at 28 g/t from 34 metres in the Main Vein at Don, with high-grade and wider lower grade intercepts demonstrating the Main Vein potential. “Excellent start” to gold program Red River Resources managing director Mel Palancian said: “The drill results received from the Don are an excellent start to our Thalanga gold exploration program, demonstrating the presence of gold mineralisation at shallow depths. “We will continue to explore the Thalanga region for its gold potential, aiming to build our resource inventory at Thalanga while we also ramp-up gold production at our Hillgrove Gold Mine in NSW.” RC drilling at Red River Red River has completed RC drilling at the Don prospect, approximately 20 kilometres NW of Thalanga, with 10 holes completed for 910 metres. The drilling intercepted extensive quartz sulphide veining and associated alteration in multiple holes. Assay results confirmed the presence of high-grade mesothermal gold mineralisation at shallow depths in many holes. Strong results have been received from the prospect with high-grade mineralisation intersected in Main Vein. Apart from the 28 g/t intersection, other strong results include: 6 metres at 2.2 g/t from 77 metres including 1-metre at 6.4 g/t from 78 metres; and 4 metres at 2.0 g/t from 40 metres including 1-metre at 4.7 g/t from 41 metres. At New Homestead best results from the 10 holes for 958 metres are: 1-metre at 8.1 g/t from 50 metres and 1-metre at 12.5 g/t from 76 metres; 1-metre at 11.2 g/t from 92 metres; and 9 metres at 1.4 g/t from 53 metres including 1-metre at 6.2 g/t from 53 metres. Toomba drilling The company plans to undertake the initial RC drill program consisting of 13 holes for 1,379 metres at Toomba in May. Red River is seeking to build a multi-asset operating business focused on base and precious metals to deliver prosperity through lean and clever resource development. Thalanga Base Metal Operation in Northern Queensland, which is the company’s foundation asset, was acquired in 2014 and it started producing copper, lead and zinc concentrate from there in September 2017. It has started production at the high-grade Hillgrove Gold Operation in New South Wales which was acquired in 2019. The Hillgrove Operation is a key part of RVR’s strategy to build a multi-asset operating business focused on base and precious metals.