Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Red River Resources has identified gold potential at a waste rock dump in the Bakers Creek gold mine
  • Red River recently acquired the Hillgrove gold-antimony project in New South Wales which hosts the Bakers Creek gold mine
  • Previous sampling returned a weighted average grade of 3.49 grams per tonne of gold

Red River Resources has identified gold potential at a waste rock dump in the Bakers Creek gold mine.

The Bakers Creek waste dump was created during the mining of Bakers Creek, which operated from 1877 to 1921.

The ore was hand sorted underground and again on the surface, with the waste containing rejects from the sorting. The dump is approximately 105 metres by 70 metres in area and 15-20 metres deep.

In 2006, Straits Resources sampled the waste rock dump using an excavator to dig test pits. A total sample weight of 64.19 kilograms was taken with a weighted average grade of 3.49 grams per tonne of gold.

Straits did not conduct further work as the gold grades were below the cut-off grade at the time.

Red River is exploration company that aims to create prosperity through lean and clever resource development.

The company recently bought the Hillgrove gold-antimony project in New South Wales, which hosts the Bakers Creek gold mine. The acquisition will enable the company to build a multi-asset operating business focused on base and precious metals.

Bakers Creek also shows potential based on historical mining which intersected gold mineralisation in 1887.

“Red River understands that gold production ceased because of the limited technology at the time for mining at 500-metre depths and that the mineralisation remains open,” the company said.

Red River has commenced metallurgical sampling on the dump, with test work to follow shortly after.

RVR by the numbers
More From The Market Herald
Future Metals (ASX:FME) - Director, Justin Tremain

" Future Metals (ASX:FME) intersects high-grade mineralisation at Panton

Future Metals (FME) has intersected high-grade mineralisation at its Panton Platinum Group Metal (PGM) project in Western Australia.

" R3D Resources (ASX:R3D) completes third hole at Tartana

R3D Resources (R3D) has completed the third diamond hole on the Tartana mining leases in Queensland.

" Centrex Metals (ASX:CXM) eyes $4m for work at Ardmore and key hires

Centrex Metals (CXM) has received firm commitments to undertake a $4 million share placement.
Auroch Minerals (ASX:AOU) - Managing Director, Aidan Platel

" Auroch Minerals (ASX:AOU) raises $8m to accelerate nickel exploration

Auroch Minerals (AOU) has received firm commitments to raise $8 million via a share placement.