Red River Resources Limited (ASX: RVR) has received promising results from reverse circulation drilling at Cougartown, Cougartown West and Max Cu-Au exploration prospects near its Liontown Project, part of its Thalanga Operations in north Queensland
The company continues to progress development of Liontown as the third deposit for its Thalanga Operations, prospects near Liontown will potentially provide additional feed to the process plant at Thalanga. Liontown has a current Mineral Resource of 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1 g/t Au & 29 g/t Ag (12.7% Zn Eq).
Red River completed 5,697m of drilling at Liontown (results reported 18 August 2021 and 2 December 2021) and 1,928m of drilling on the Cougartown, Cougartown West and Max-Au satellite prospects, which has returned several exciting intercepts including:
Cougartown – 86m @ 2.3% Zn Eq from 0m (CGRC004) – 43m @ 1.6% Zn Eq from 55m (CGRC001) – 18m @ 1.6% Zn Eq from 101m and 16m @ 1.7% Zn Eq from 142m (CGRC003)
Cougartown West – 40m @ 3.0% Zn Eq from 67m (CWRC002).
Red River Exploration
Red River completed four reverse circulation holes for 556 metres. Holes were between 88m and 202m in length and inclined to the north. All holes intercepted mineralisation.
CGRC001 and CGRC004 targeted the shallow area below the outcropping gossan. CGRC002 and CGRC003 targeted both a parallel horizon to the south and the gossan horizon at depth.
The results are a strong indication of a significant mineralising system, likely dipping near vertical.
Due to these results and similar from surrounding shallow drill programs, targeting will now focus on the potential for a change and upgrading of the mineralising system at depth. Assessment and prioritising of deeper drilling is underway.