Total
0
Shares
Red River Resources (ASX:RVR) - Managing Director, Mel Palancian
Managing Director, Mel Palancian
Source: Sydney Mining Club
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Red River Resources (RVR) identifies four new potential drill targets at the Coronation prospect near its Thalanga Base Metal Operation in Northern Queensland
  • The survey sought to follow up surface expressions of gold mineralisation at the Coronation North prospect, 40 kilometres of the Highway Reward Mine
  • According to RVR, the targets indicate similar gravity and magnetic response to the said Highway-Reward deposit
  • RVR has not outlined any specific information regarding planned further works or potential drill programmes at this stage
  • Red River Resources shares were up 5 per cent to trade at 21 cents

Red River Resources (RVR) has identified four new potential drill targets at the Coronation prospect near its Thalanga Base Metal Operation in Northern Queensland.

RVR’s programme sought to follow-up surface expressions of mineralised barite-quartz-sulphide-gold veins.

The survey, which was undertaken over the Coronation North prospect on 50 metre and 100 metre spaced lines, identified four main features which will require further evaluation and drill testing.

According to RVR, the targets indicate similar gravity and magnetic response to the historic Highway-Reward deposit which produced 3.8 million tonnes at 6.2 per cent copper and one grams of gold per tonne.

RVR said the Highway and Reward deposits occur as steep dipping pipes and have associated gravity and IP chargeability anomalies.

The Coronation prospect is situated approximately four kilometres northwest of the Highway Reward mine.

RVR has not outlined any specific information regarding planned further works or potential drill programmes at this stage.

Red River Resources shares were up 5 per cent to trade at 21 cents at 2:00pm AEST.

RVR by the numbers
More From The Market Herald
Sunrise Energy Metals (ASX:SRL) - CEO, Sam Riggall

" Sunrise Energy Metals (ASX:SRL) advances self-titled battery project

Sunrise Energy Metals (SRL) spent much of the September quarter focused on progressing its Sunrise Battery Materials Project in NSW.
Alexium International Group (ASX:AJX) - CEO, Bob Brookins

" Alexium International Group (ASX:AJX) achieves record sales

Alexium International Group (AJX) achieved its best ever sales over Q1 FY22, with cash receipts also hitting a new high.

" Silver Lake Resources (ASX:SLR) increases quarterly production as cash stockpile grows

Gold miner Silver Lake Resources (SLR) is trading red this morning following the release of its latest quarterly financial report for the three

" Beacon Minerals (ASX:BCN) doubles resource inventory

Beacon Minerals (BCN) has doubled its mineral resource inventory through its acquisition of the MacPhersons Reward Gold Project.