Zinc miner Red River Resources has gained today on further high-grade results at Liontown East discovery at its Thalanga zinc project in Queensland.
Assay results were completed for diamond drill holes at Liontown East discovery, which lies 700m from the eastern edge of the current Liontown mineral resource.
A hole was drilled to test down-dip continuity and intersected a broad zone of massive and semi-massive sulphide mineralisation from 625.2m to 635.9m down-hole.
The hole returned a high-grade intercept of 10.7 metres at 8.6% zinc equivalent (0.4% copper, 1.4% lead, 5.5% zinc, 0.4 g/t gold & 13 g/t silver) from 625.2m including 4.8m at 10.5% Zn Eq. (0.5% Cu, 2.1% Pb, 6.3% Zn, 0.6 g/t Au & 18g/t Ag).
Another hole was drilled to test the up-dip continuity and returned a high-grade intercept of 4.8m at 23.9% Zn Eq. (0.6% Cu, 5.0% Pb, 12.5% Zn, 4.2 g/t Au & 120 g/t Ag) from 379.2m.
The known vertical extent of mineralisation at Liontown East is over 260m and known strike extent up to 110m.
Further drilling is planned to test for extensions to current known mineralisation.
Get your Free Copy of THE PICK - Australia's Premier Resources Sector Investment Magazine - direct to your inbox...
Red River began concentrate production at Thalanga in September 2017. Its main focus is on increasing plant throughput and extending mine life by increasing Mineral Resources and Ore Reserves at deposits currently in the mine plan.
The company will convert Mineral Resources into Ore Reserves at Liontown and Orient and by continuing to aggressively explore targets within the surrounding area.
Shares in Red River (ASX:RVR) climbed 3%, or 1c, to a intraday high of 33c in morning trade.