- Red River Resources (RVR) has produced 600 tonnes of concentrate containing around 1300 ounces of gold
- The gold concentrate was produced from gold-rich historic tailings through the Thalanga Mill
- Thalanga is part of the Liontown Gold Project and is located in Northern Queensland
- Tailings were reclaimed and transported during April and May and were processed at Thalanga in June
- Red River is pleased the gold concentrate was produced at a time when the gold price is sitting at a hefty price of roughly A$2573
- Company shares are up 6.67 per cent and are trading for eight cents each
Red River Resources (RVR) has processed the gold-rich historic tailings through its Thalanga Mill at its Liontown Gold Project to produce gold concentrate.
Roughly 600 tonnes of concentrate containing 1300 ounces of gold have been produced with final assays pending.
“Processing the Liontown Tailings to produce a saleable gold concentrate is an excellent result for Red River,” Managing Director Mel Palancian said.
Tailings are byproducts from processing ore and are used to recover the contained metals.
The tailings were reclaimed and then transported to Thalanga during April and May. They were then processed over June.
While treating the Liontown Tailings, the Thalanga Mill temporarily stopped processing the polymetallic ore from Far West. However, underground mining operations continued at the Far West prospect.
Once the processing phase was completed, Thalanga went back to producing copper, lead and zinc concentrate from the Far West ore.
“The Liontown Tailings would have been moved during development and mining activities at the Liontown Project, and by doing it now, it allowed us to take advantage of the current high gold prices” he added.
Currently, the gold price is sitting at around A$2573 per ounce.
The Thalanga Base Metal Operation is located in Northern Queensland. Red River acquired it in 2014 and began copper, lead and zinc concentrate production in 2017.
Company shares are up 6.67 per cent and are trading for eight cents each at 1:17 pm AEST.