Red 5 Limited (ASX: RED) has continued to receive positive results from underground drilling at the King of the Hills (KOTH) Gold Mine, the central hub of the company’s Leonora District gold mining operation in Western Australia.
The results are further defining current Ore Reserves that underpin the FY24 mine plan and confirming mineralisation remains open below the current mining fronts.
- Grade control drilling provides further confidence in the FY24 King of the Hills (KOTH) underground mine plan, with drilling now 85% complete for the FY24 mine plan.
- Outstanding drilling results indicate potential to deliver mine life extensions at KOTH underground, particularly within the Regal and Eastern Flank mining areas.
Grade control drilling has now been completed for 85% of the KOTH underground mine plan for FY24.
Underground diamond drilling programs totalling 19,196 metres were completed between 1 January and 30 June 2023, with significant assay results recorded across several key mining areas within the KOTH Underground including:
(i) Regal & Eastern Flanks
(ii) West Bulk
(iii) Central
The drilling was focused on grade control for FY24 stope mining and extensional drilling to identify major trends and new mineralised zones.
Our underground drilling programmes are continuing to confirm the robust nature of the King of the Hills Resource and Reserve models, with these latest results from grade control and Resource extension drilling supporting our mine plan over the next 12 months and defining extensions to the key Regal, Eastern Flanks and West Bulk mining areas. Over the last 12 months, drilling has covered 85% of the FY24 mine plan, providing strong confidence for mining in the year ahead,” Managing Director, Mark Williams, said.
“Despite the enormous amount of drilling completed to date, large sections of the King of the Hills orebody remain relatively undrilled, and we see outstanding potential to continue expanding the existing Resource and Reserve inventory to further extend the current mine life.”
