Announcement • Nov 11
Red River Resources Limited Reports Drilling Results for the Bakers Creek Exploration Holes BKC008, BKC009 and BKC0010 at its Hillgrove Gold Project in New South Wales Red River Resources Limited reported drilling results for the Bakers Creek exploration holes BKC008, BKC009 and BKC0010 at its Hillgrove Gold Project in New South Wales. BKC008, BKC009 and BKC010 all achieved high grade gold intersections on the Little Reef structure with quartz breccias consistently displaying visual gold particles. A northwest intersection of 0.4m @ 96.8 g/t Au (BKC009), a central intersection of 0.45m @ 257 g/t Au (BKC008) and a southeast intersection of 0.6m @108.0 g/t Au (BKC010). These high grade breccias are contained within several metres of moderate mineralised brecciation and veining as reported. True horizontal across strike widths for these intersections are approximately 75-85% of their downhole interval. The three intersections are spaced over a 90m strike and 90m vertical extent on the Little Reef structure and have opened up a new expansive area of potential mineralisation. A structure 80m into the footwall of Little Reef also contained a visual gold bearing breccia intersection of 0.4m @ 525 g/t Au (BKC010). RVR considers this new discovery with great unquantified potential. The Bakers Creek deposit is located between the Eleanora-Garibaldi and the Sunlight/Blacklode deposits. The Eleanora-Garibaldi and the Sunlight/Blacklode deposits form part of the wider Hillgrove Mineral Field which has a JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained Au & 90kt contained Sb). There is no Mineral Resources defined for the Bakers Creek deposit. The latest drilling results indicate continuity of the Little Reef lode and a strong tenure of grade. Additional drilling will be required to identify the bounds of the mineralisation prior to assessment for Mineral Resource estimation. The Bakers Creek reef system is a separate mineralised area, approximately 750 metres, from the Eleanora- Garibaldi Mineral Resource. Results now suggest a high potential for future resource growth. BKC008, BKC009 and BKC010 were drilled perpendicular to the Bakers Creek system from the southwest. The holes targeted a northwest extension of the deposit, testing for gold mineralisation beyond the extent of mining. The Hillgrove mineral field consists of mineralised structures that contain plunging shoots of highly endowed gold mineralisation. It was RVRs belief that a continuation of the Little Reef structure to the northwest and at depth would host a repetition of the mineralisation once seen during the operation of the Bakers Creek Mine. Announcement • Nov 10
Red River Resources Limited Announces Results from Eight Holes Drills at Eleanora-Garibaldi Deposit at its Hillgrove Gold Mine in NSW Red River Resources Limited announced results from eight holes drilled at the Eleanora-Garibaldi deposit at its Hillgrove Gold Mine in NSW. These holes have returned encouraging high-grade gold intercepts within broader mineralised zones. Hillgrove has an existing JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained gold & 90kt contained antimony), which includes a JORC 2012 Mineral Resource for Eleanora-Garibaldi of 2.41Mt @ 4.7g/t Au and 0.6% Sb (362koz Au and 15kt Sb). RVR's drill program at Eleanora-Garibaldi aimed to increase confidence and understanding of the mineralisation within the current Mineral Resource area. Eleanora-Garibaldi Drilling: RVR has received assays for eight remaining holes completed in the Eleanora-Garibaldi drill program. Two holes ELG184 and ELG185 in the north intercepted two parallel lodes of structurally controlled gold mineralisation. Two holes in the south, ELG186 and ELG187 targeted a gap between the historic Eleanora Mine and the Garibaldi Resource area. Four holes; ELG180, ELG181, ELG182 and ELG183 targeted the remnant northern pillar of the historic mine. The drilling has increased the understanding of the deposit and confirmed the strength of mineralisation in the northern and southern areas. Stronger results than expected were encountered in the pillar area. Holes ELG180 and ELG183, although drilled oblique to the strike of mineralisation, intersected approximate true widths of 19m at 8.2 g/t Au and 0.4% Sb and 16.8m at 3.2 g/t Au. These holes demonstrate a broad mineralisation style of splay and subsidiary structures surrounding a high-grade quartz breccia which was the focus of historical mining. The high-grade structures in these holes are demonstrated by a 0.2m true width interval at 526 g/t Au and 3.9% Sb in ELG180 and a 0.7m true width interval at 33.2 g/t Au in ELG183. The results of this drill program will contribute to an increase in confidence of the interpretation of the mineralisation and metal distribution at Eleanora-Garibaldi. The mineralised subsidiary structures and broad zones drilled in the northern pillar are not yet captured in the current Mineral Resource and with further drilling and development may contribute to additional resources. Announcement • Nov 02
Red River Resources Limited, Annual General Meeting, Nov 30, 2022 Red River Resources Limited, Annual General Meeting, Nov 30, 2022, at 12:00 E. Australia Standard Time. Location: Chartered Accountants Australia & New Zealand Level 18 600 Bourke Street MELBOURNE VICTORIA 3000 Victoria Australia Agenda: To receive and consider the financial statements and the reports of the Company's directors and the Company's auditors for the financial year ended 30 June 2022; to consider the re-election of Mr. Timothy Marcus Stephen Hanlon (Mark Hanlon) as a Director; to consider the re-election of Mr. Patrick O'Connor as a Director; and to consider the adoption of Remuneration Report. Announcement • Sep 07
Red River Resources Limited Announces Hillgrove Update Red River Resources Limited announced that the board has decided to place its Hillgrove Operation on care and maintenance while it undertakes a detailed study on the options available to it. Processing activities will cease in an orderly manner to allow an effective care and maintenance program to be carried out during this period. Staff required to ensure site security, plant integrity and that all environmental licence and statutory requirements are met will be retained on site. Other roles will be made redundant. Staff in these positions will receive all contractual and statutory entitlements. Previously released exploration results from the Hillgrove exploration program will be used to plan for further activities in due course. The company will update the market when the options study is completed. Announcement • Sep 01
Red River Resources Limited Announces Results of 10 Holes Red River Resources Limited announced results of 10 holes which have returned wide, high-grade gold at its Hillgrove Gold mine in NSW. Red River has completed its current drilling program at Eleanora-Garibaldi and the deposit remains open; the results achieved increase confidence in the resource. Five additional holes are awaiting assay results. The high-grade intercepts within broader mineralised zones are encouraging and continue to build confidence to transition Hillgrove from a historical narrow vein project into a larger-scale gold operation. Hillgrove has an existing JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained Au & 90kt contained Sb) and RVR continues build this resource for a larger-scale, longer life mining operation. RVR has received assays for drill holes ELG171 to ELG179B in its follow-up Eleanora-Garibaldi drill program . The drill holes intercepted three lodes of structurally controlled gold-antimony dominated mineralisation. These north-south striking, near vertical lodes from west to east include the Main Lode, a southern continuation of the main Eleanora system, the Central Lode, and the East Lode. The drill holes intercepted gold mineralisation between and surrounding the dominant structures hence reporting of broad grade intervals. The southern Garibaldi area has undergone significant brittle deformation both pre-mineralisation and post mineralisation compared to the northern Eleanora area. This has had two fundamental impacts on the geology and mineralisation: Pre-mineralisation faulting has created pathways for significant lamprophyre dyke swarms, with holes drilled in this program containing anywhere from one to 11 lamprophyre intrusions. Faulting has also created additional pathways for the mineralised hydrothermal fluids to flow through. This has affected the mineralisation by creating the additional and generally weaker parallel rends of mineralisation east of the main lode trend. There also exists weak mineralisation between the lodes creating wide zones (>20m) of halo gold mineralisation. Historically, Garibaldi had a small open pit, which is approximately 155m long, 40m wide and 10m deep to take advantage of the multiple gold lodes and bulk low-grade material. Announcement • Aug 19
Red River Resources Announces Thalanga Operations Resume Red River Resources announced that underground operations have resumed at Thalanga on August 19, 2022. The Company is reviewing the current mining schedule at Thalanga. Announcement • Aug 11
Red River Resources Limited Announces Results from Five Holes Drilled At its Hillgrove Gold Mine in NSW, Returning Encouraging High-Grade Gold Intercepts Within Broader Mineralised Zones At the Eleanora-Garibaldi Deposit Red River Resources Limited announced results from five holes drilled at its Hillgrove Gold Mine in NSW, returning encouraging high-grade gold intercepts within broader mineralised zones at the Eleanora-Garibaldi deposit. Hillgrove has an existing JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained Au & 90kt contained Sb). Red River's drill program at Eleanora-Garibaldi aimed to follow up on the previous drilling on the northern extent of historically mined Eleanora lode. The planned drilling program at Eleanora-Garibaldi is ongoing. The deposit remains open and is a priority target. Red River's Board is completing a strategic review of Hillgrove before re-commencing mining. Eleanora-Garibaldi Drilling: RVR has received assays for five drill holes in its follow-up Eleanora-Garibaldi drill program. Four holes in the north intercepted two parallel lodes of structurally controlled gold-antinomy dominated mineralisation. In the south, a single hole, ELG165 targeted a historically stoped area to test the extent of mineralisation remaining in the stope walls. This test was a success with the first 2m of the footwall returning assays of 2m @ 3.5 g/t Au and 0.6% Sb. The result further strengthens the case for a wider halo of mineralisation previously unrecognised at Hillgrove. The northern drilling was designed to target an inferred high-grade shoot and quantify the width of a dilation zone containing high-grade gold and lower-grade antimony. Historically, dilations or wide areas of mineralisation were not mined due to reduced antimony grades. Red River's recent drilling of Eleanora pillars show that the width and gold content are encouraging. The drilling has increased the confidence in the northern end of the Eleanora-Garibaldi Mineral Resource. A further 15 holes have been completed at Eleanora-Garibaldi, assays are pending; results will be disclosed once all assays are received. These holes represent two completed programs, nine holes at Garibaldi as shallow grade control drilling under the historic pit and four holes drilled in the Northern Pillar of Eleanora. Red River is drilling two further holes to follow up at Eleanora North based on the reported results in this release. Underground drilling at Blacklode-Sunlight has commenced in August after successfully completing two additional holes at Bakers Creek (assays pending). Announcement • Aug 09
Red River Resources Limited Announces the Appointment of Patrick O'Connor as a Non-Executive Director Red River Resources Limited announced the appointment of highly experienced resources executive Patrick O'Connor as a Non-Executive Director from 9 August 2022. Mr. O'Connor's appointment marks an important step in the continued growth of Red River Resources into a multi-asset operating business focused on base and precious metals via its Thalanga and Hillgrove Operations and follows discussions with RVR's larger shareholder 3rd Wave Investors Pty Ltd. (3rd Wave). Mr. O'Connor is a Fellow of the Australian Institute of Company Directors and holds a Bachelor of Commerce (Accounting). He has more than 40 years' experience mainly in the resources sector. He has held senior positions in the Australian resources industry including Chairman of Perilya Limited and Chief Executive officer and Non-Executive Director of Oceana Gold Limited. He is currently Chairman of FAR Limited and a Non- Executive Director of Metals X Limited. Announcement • Jul 28
Red River Resources Limited to Report Q4, 2022 Results on Jul 28, 2022 Red River Resources Limited announced that they will report Q4, 2022 results at 8:30 AM, E. Australia Standard Time on Jul 28, 2022 Announcement • Jul 06
Red River Resources Limited Reports Visible Gold in Drill Hole BKC008 from Its Drilling Underway At Bakers Creek, Part of Its Hillgrove Gold Project in New South Wale Red River Resources Limited reported visible gold in drill hole BKC008 from its drilling underway at Bakers Creek, part of its Hillgrove Gold Project in New South Wales. The drilling aims to identify extensional mineralisation at the historic Bakers Creek Mine, which produced 304koz of gold from 176kt of ore from ~1880 - 1916. Priority assays from 15.8m of core drilled at BKC008 returned 0.45m @ 257g/t Au from 467.75m within 4.50m@ 29.5 g/t Au and 0.3% antimony (Sb) from 466.0m. Hillgrove has an existing JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained Au & 90kt contained Sb) and Red River is systematically drilling targets across the project, aiming to build this resource for a larger-scale, longer life mining operation. Red River sent 15.8m of core from BKC008 for priority assay, as it visually contained a central structure of strong veining which included three intense breccias between 15 and 35cm. Assays for BKC008 returned 4.50m at 29.5 g/t Au and 0.3% Sb from 466.0m downhole Including 0.45m at 257.0 g/t Au from 467.75m downhole Historically, Bakers Creek was the most productive mine in the Hillgrove field and produced more than 300koz gold. Little Reef was the most extensively mined lode within the Bakers Creek system, producing high grade gold ore over a strike of 280m and a vertical extent of 550m. A series of other lodes occur in the hangingwall and footwall of the Little Reef lode as parallel and oblique structures. Red River's drill program was designed to: Test the northern extension of the Bakers Creek deposit for continued gold mineralisation beyond the extent of historic mining and the previous completed drilling at its immediate periphery. The Hillgrove mineral field consists of mineralised structures that contain plunging shoots of highly endowed gold mineralisation spaced between zones of weaker mineralisation. It is RVRs belief that there is potential for a continuation of the Bakers Creek structure to the northwest and at depth to host extensions of the highly endowed mineralisation once seen during the operation of the Bakers Creek Mine. Investigate a 515m across strike span between the major Hillgrove systems of the Metz (Blacklode, Syndicate & Sunlight) and Bakers Creek. This block between the 2 systems contains no previous drilling. Test for an interpreted structure and mineralisation beneath the axis of the Bakers Creek Gorge. Understanding of this structure, and its control on the surrounding Bakers and Metz systems will have major influence on future exploration. BKC008 was drilled perpendicular to strike of the Bakers Creek system from the southwest and the visible gold intersection sent for priority assay is interpreted to be the Little Reef lode. The hole was drilled to a depth of 685.7m and intersected other areas of interest prior to, and beyond Little Reef for which assays, and interpretation are pending. To date, only three other holes have tested the Little Reef lode. Historic hole BKC001, drilled in 2008 by Straits Resources, from the northeast, passed at an oblique angle to Little Reef and intersected a 4m wide zone (12m downhole) of weaker gold mineralisation. The BKC008 hole targeted 40m below and 90m further along strike in a northwest direction. It was designed to intersect any potential repetition of a high-grade plunging shoot. The second hole of the program BKC009 is currently being drilled, targeting Little Reef a further 60m along strike to the northwest of BKC008. Assays results will be made available as soon as they are received. Announcement • Jun 30
Red River Resources Limited Announces Red Rivers Liontown Delineation Drilling Continues Red River Resources Limited announced results from its 2022 Mineral Resource delineation drilling program at Liontown, part of its Thalanga operations in northern Queensland. Liontown contains a sulphide Mineral Resource of 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn 1.1 g/t Au and 29g/t Ag for 12.7% Zn Eq. RVR is developing Liontown as its third deposit at Thalanga. Red River's Mineral Resource delineation drilling program Red River is undertaking a Mineral Resource delineation drilling program to increase confidence in the Liontown Resource, as it is developing Liontown as the third deposit as part of its Thalanga Operation. Drilling aims to reduce the drill spacing across the Indicated and Inferred areas of the current Mineral Resource. Drilling will progress from targeting the Main Lode and Gap areas to the Western Footwall area and towards the end of the program the Liontown East area. This drilling will build confidence and allow the upgrade Inferred Mineral Resources to the Indicated classification. Current activities at Liontown: Two diamond drill rigs (third to begin drilling in July) are in operation undertaking drilling through the Main Lode and Gap Uppers areas. Red River has completed 19 diamond holes on the Main Lode and seven on the Gap Lode. Discussion of Liontown results: The Liontown stratigraphy and mineralised system are inclined at 70 degrees to the south. The Liontown Main Lode area consists of three horizons/lodes: a lower horizon (Main 1), a central horizon in the upper west (Main 2), and a gold and silver rich upper horizon (Main 3). Main 1 has a 550m strike and is located along a sediment to rhyodacite pumice breccia contact. Main 2 and 3 are stacked above Main 1 within hanging wall sediments. The three horizons are spaced at 30m in the west but merge together in the central part of the system. Generally, the mineralised horizons are 1 to 5m true width. Strongly positive results are seen in eastern holes LTDD22056 and LTDD21042A. Holes LTDD22051 and LTDD21047 display a narrowing of the mineralised horizons at depth and to the west, albeit high grade massive sulphide persists. To date the results generally support the widths and grades of the mineralisation modelled for the Mineral Resource. Four holes completed in the upper central area of the Liontown Main Lode are awaiting assay. Background: Red River's Liontown Project is located approximately 32km in a direct line from its Thalanga Operations and 107km by road (Figure 5). The total Liontown Project Mineral Resource (Fresh Sulphide) (Liontown + Liontown East) consists 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.) and a shallow oxide gold Mineral Resource of 113,000 tonnes @ 1.9g/t Au & 24 g/t Ag. The Liontown deposit is of volcanogenic-hosted-massive-sulphide (VHMS) style and is hosted within Cambro- Ordovician marine volcanic and volcano-sedimentary sequences of the Mt Windsor Volcanic Sub-province. The Liontown deposit demonstrates strong affinities with other well-known deposits in the region including the Liontown East, Waterloo and the operating Thalanga group deposits. The Liontown deposit VHMS mineralisation comprises the Main Lode, New Queen and Liontown East lenses. The Main Lode and Liontown East lenses are contained within a series of fine-grained siltstones (hanging wall) at their contact with a thick package of rhyodacitic pumice breccia (footwall), while the New Queen lenses are hosted within a series of schists within the footwall rhyodacitic pumice breccia. The mineralisation occurs as massive, banded, and stringer sulphides of sphalerite, pyrite, galena and chalcopyrite. Lenses are capped near surface by gold bearing oxide material. The Western Footwall and Gap (Figure 2) are gold-copper dominant polymetallic lodes of mineralisation with a late-stage structural influence and hosted in the footwall pumice breccia. This late structure locally intersects and overprints the New Queen VHMS mineralisation near the surface. High-grade Au-Cu structurally controlled mineralisation was historically mined from 1905-1911 as the Carrington lode. The oxide zone of the New Queen was also historically mined with minor tonnages reported from 1951-1963. A plan projection (Figure 5) of the five polymetallic targets projected to the 150m RL (150m below surface) shows the strong stratigraphical control from the predominantly E-W lithology, that dips approximately 60-70 degrees to the south. Announcement • Jun 29
Red River Resources Limited Announces Results of Nine Holes from its Sunlight Drill Program at the Hillgrove Gold Project in NSW Red River Resources Limited announced results of nine holes (SUN059 SUN067) from its Sunlight drill program at the Hillgrove Gold Project in NSW. RVR's recent drilling at Sunlight targeted extensions to the east of the Sunlight deposit. The combined Sunlight and adjacent Blacklode deposit have a JORC 2012 Mineral Resource of 2.65Mt at 4.5g/t Au and 1.1% Sb (387koz contained Au and 30kt contained Sb). The results have increased deposit knowledge and demonstrate that extensions of the Sunlight Mineral Resource to the east and at depth are possible. Results for the program will be included in the next resource update. Several holes have intercepted a previously unrecognised gold-tungsten zone to the east of Sunlight. Hillgrove has an existing JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained Au & 90kt contained Sb) and RVR continues build confidence to transition Hillgrove from a historical narrow vein project into a larger-scale gold operation. Intervals of mineralisation are detailed in Table 1 and include: SUN059 intersected 2.5m @ 3.2 g/t Au from 152.5m downhole; SUN060 intersected 2.5m @ 3.2 g/t Au from 104.0m downhole, 0.5m @ 23.8 g/t Au from 270.5m downhole and 4.0m @ 3.5 g/t Au from 301.0m downhole. SUN061 intersected 3.6m @ 3.3 g/t Au and 1.5% Sb from 220.0m downhole. SUN062 intersected 6.2m @ 2.6g/t Au from 115.8m downhole and 2.0m @ 3.5 g/t Au from 268.0m downhole. SUN063 intersected 1.5m @ 3.6 g/t Au from 179.5m downhole and 1.6m @ 3.4 g/t Au from 240.5m downhole. SUN065 intersected 1.6m @ 3.4 g/t Au from 200.5m downhole and 1.5m @ 3.4 g/t Au from 228.0m downhole. SUN066 intersected 4.5m @ 3.2 g/t Au from 123.5m downhole. SUN067 intersected 1.5m @ 5.9g/t Au from 365.0m downhole and 2.5m @ 3.2g/t Au from 396.5m downhole and 0.4m @ 1.7 g/t Au and 15.0% Sb from 421.0m downhole. Price Target Changed • Apr 27
Price target decreased to AU$0.35 Down from AU$0.40, the current price target is provided by 1 analyst. New target price is 49% above last closing price of AU$0.23. Stock is up 6.8% over the past year. The company is forecast to post earnings per share of AU$0.04 for next year compared to AU$0.011 last year. Announcement • Apr 26
Red River Resources Limited to Report Q3, 2022 Results on Apr 28, 2022 Red River Resources Limited announced that they will report Q3, 2022 results at 8:00 AM, E. Australia Standard Time on Apr 28, 2022 Price Target Changed • Apr 15
Price target decreased to AU$0.35 Down from AU$0.40, the current price target is provided by 1 analyst. New target price is 43% above last closing price of AU$0.24. Stock is up 8.9% over the past year. The company is forecast to post earnings per share of AU$0.04 for next year compared to AU$0.011 last year. Announcement • Feb 22
Red River Resources Limited Announces Polymetallic Results from Multi- Purpose RC Drilling Program at Liontown Red River Resources Limited announced high-grade polymetallic results from a multi- purpose RC drilling program at Liontown, part of its Thalanga Operation in Qld, which have rapidly increased the knowledge of the oxide gold, Gap and Western footwall. Summary: Final results received from Red River's successful reverse circulation (RC) drilling program at Liontown; Mineral Resource (Au oxide) infill holes include: 10m @ 2.7 g/t Au from 41.0m downhole (LLRC224 New Queen east); 6m @ 3.6g/t Au from 22.0m downhole (LLRC223 New Queen east); 5m @ 3.1 g/t Au from 25.0m downhole (LLRC208 New Queen west); 15m @ 1.9g/t Au from 46.0m downhole (LLRC221 Main Lode); and 4m @ 4.3g/t Au from 48.0m downhole (LLRC204 Main Lode). Mineral Resource (fresh sulphides) infill hole results include: 10m @ 9.1% Zn Eq from 87.0m downhole (LLRC202 - New Queen Resource); 7m @ 5.9% Zn Eq from 102.0m downhole (LLRC218 Western Footwall Resource); and 3m @ 5.3% Zn Eq from 134.0m downhole (LLRC216 Western Footwall Resource). Results outside current Mineral Resource include: 13m @ 8.1% Zn Eq from 171.0m downhole (LLRC217 Western Footwall Lode 2); 12m @ 9.5% Zn Eq from 68.0m downhole (LLRC216 Western Footwall Lode 2); 7m @ 5.9% Zn Eq from 102.0m downhole (LLRC218 Western Footwall Lode 2); 4m @ 10.1 g/t Au from 88.0m downhole (LLRC220 WF to NQ Au trend); 4m @ 13.9 % Zn Eq from 148.0m downhole (LLRC219 Lower West Carrington); and 4m @ 8.4% Zn Eq from 156.0m downhole (LLRC204 Lower Carrington). Red River will continue resource delineation and extensional drilling over the next 12Months. Announcement • Feb 03
Red River Resources Limited Announces Results of Four Holes at the Hillgrove Gold Mine in NSW Red River Resources Limited announced results of four holes at the Hillgrove Gold mine in NSW. The planned drilling program at Eleanora-Garibaldi has been completed and the deposit remains open; drilling at Sunlight and Cosmopolitan is continuing. A further seven holes have been completed and are awaiting assays; results will be announced when they are received. The high-grade intercepts within broader mineralised zones are encouraging and continue to build confidence to transition Hillgrove from a historical narrow vein project into a larger-scale gold operation. Hillgrove has an existing JORC 2012 Mineral Resource of 7.23Mt @ 4.5 g/t Au & 1.2% Sb (1,037koz contained Au & 90kt contained Sb) and RVR continues build this resource for a larger-scale, longer life mining operation. RVR has received assays for drill holes ELG161 to ELG164 in its follow-up Eleanora-Garibaldi drill program. The drill holes intercepted three parallel lodes of structurally controlled gold-antinomy dominated mineralisation. These north-south striking, near vertical lodes from west to east include the Main Lode, a southern continuation of the main Eleanora system, the Central Lode, and the East Lode. The drill holes intercepted lower grade gold mineralisation between and surrounding the dominant structures hence reporting of broad grade intervals. Announcement • Jan 20
Red River Resources Limited Announces Results from Reverse Circulation Drilling At Cougartown, Cougartown West and Max Cu-Au Exploration Prospects Red River Resources Limited announced 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. Red River 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 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). Cougartown Prospect: Red River completed four reverse circulation holes for 556 meters. Holes were between 88m and 202m in length and inclined to the north. All holes intercepted mineralization. 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 mineralizing 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 mineralizing system at depth. Assessment and prioritizing of deeper drilling is underway. Cougartown West Prospect: Red River's first-pass program comprised five reverse circulation holes for 656 meters. The holes tested the possibility of multiple lenses on an 80m spacing to cover a total strike 240m. Holes were between 118 and 154m in length and inclined to the north. Four holes CWRC001, CWRC003, CWRC004 and CWRC005 spaced at 80m along strike tested below the main surface zinc geochemical trend. They intersected schistose volcanoclastic breccias then pumice breccia and terminated in dacites. Low level base metal mineralization occurred through the pumice breccias. Hole CWRC002 100m south tested the down dip extension of the surface geochemical trend below CWRC003. Mineralization was intersected within rhyodacite above the pumice breccia unit. The strongly zinc dominated intersection is open to the east, west and down dip. And offers a great opportunity for further targeting. Max Copper Gold Prospect: Red River's drilling consisted of five reverse circulation holes for 716 drill metres. Inclined holes of 100-200m length were drilled. MXRC002 and MXRC003 targeted a southern Cu-Au anomaly and outcropping gossanous sediments. MXRC004 and MXRC005 targeted a northern Zn-Pb-Cu-As anomaly with coincident chert horizons. All holes passed from siltstones, through tuffaceous shales and into pumice breccias replicating the Liontown sequence but being shallow dipping to the southeast. Low level Pb-Zn-Cu anomalism within the shales adjacent to the pumice breccia contact and then cyclically within the pumice breccia was detected. Hole MXRC001 targeted 150m east along strike of the Max Cu-Au prospect. A low-level Cu-Au soil anomaly in shallow cover and a coincident IP response were identified. The high chargeability response was interpreted to represent a copper-pyrite rich VHMS footwall stringer zone and the hanging wall position was targeted for massive base metal mineralization. The hole intersected shale and minor quartz veining with no significant mineralization to 100m depth at which point it was prematurely terminated due to significant water intercepted in the hole. The hole did not reach target and will be redrilled. Reported Earnings • Aug 27
Full year 2021 earnings released: EPS AU$0.011 (vs AU$0.013 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$119.5m (up 89% from FY 2020). Net income: AU$5.90m (up AU$12.8m from FY 2020). Profit margin: 4.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 30
Red River Resources Limited Identifies Multiple Large Silverindium Targets At Orient Red River Resources Limited announced that drone magnetic and induced polarisation (IP) geophysical surveys completed on its Orient project near Herberton in North Queensland have identified multiple large silver indium targets. Red River completed a 14 km2 drone magnetic survey and six lines of IP (Induced Polarisation) geophysical surveying at the Orient mining camp on EPM 27223, near Herberton in north Queensland. The magnetic survey and three of the lines of IP survey completed in May 2021, were completed using a Queensland Geological Survey Collaborative Exploration Initiative (CEI) grant awarded to Red River in August 2020. The results from the first three lines of IP encouraged Red River to complete three additional lines of IP to achieve complete coverage across the entire Orient mining camp area. The surveys aimed to map and target mineralised structures additional to those already known within the Orient tenement and aid in improved targeting for exploration drilling. The Orient silver-indium project comprises the Orient West and East silver-lead-zinc-indium deposits and is highly prospective for additional high-grade deposits along strike and down dip. It was one of two polymetallic projects granted to Red River last year that host the highest grade known indium deposits in Australia. Indium is a new economy mineral used in electronics and has been identified as a critical mineral by Geoscience Australia. Red River acknowledges the assistance of the Queensland Government in promoting exploration for new economy minerals through the CEI grant scheme. RVR's drone magnetic survey provided high density and quality data over a 14km2 area covering the Orient mining area and surrounds. The magnetic data clearly highlights the northeast trend of the known mineralisation at Orient West which continues for a further 1.6km to the east indicating the potential for additional mineralisation. At the Orient East and Nannum workings the structural setting from the magnetic data appears more complex indicating the potential for stockwork style veining. The survey also identified a large elongated magnetic feature to the south of the Orient West workings which appears to be fault bounded within the Bluewater Rhyolite. The feature contains several deep lows that may represent a buried intrusion complex. The IP survey was designed to test the response of known mineralised areas at Orient East and West and to further target additional possible mineralisation along strike, inclusive of areas associated with the magnetic features identified in the drone magnetic survey. Three lines totalling 7.18 line kms were completed under the CEI grant and a further three lines totalling 5.3 line kms were completed by RVR. Results show conductors and chargeability features coincident with and along strike of known mineralisation and a large, buried IP feature associated with the margins of the magnetic low feature identified in the drone magnetic survey. Mineralisation at Orient West follows northeast striking magnetic lows along the boundary of the Halpin Granite and Bluewater Rhyolite. The dronemag data shows the lineations extend for a further 1.6km to the northeast of Orient West. The prospective structural setting, anomalous soils and rock chip samples and presence of small workings, make this a high priority target. Orient East and Nannum Amalgamated displays a zone of complex magnetic lineation's and probable structures indicating the potential for a larger zone of stockwork style mineralisation than currently indicated by the existing workings. The IP survey returned multiple chargeability and conductivity targets on each line. The Orient West mineralisation which shows a strong near- surface chargeability feature associated with the known mineralisation drilled by GNMC in the 1980's and a strong conductor down-dip. The Orient East and Nannum workings returned a similar response with a coincident complex chargeability and conductivity anomaly beneath the Nannum workings. A large, buried chargeability feature on Lines 300 and 500 was identified in the complex magnetic low feature highlighted in the dronemag. The presence of the deep-seated chargeability features adjacent to or within structures is suggestive of deeper buried mineralised intrusions that may be the feeders to the structurally controlled vein hosted mineralisation at Orient West and East. The IP survey was effective in identifying conductors associated with the known mineralisation. The IP survey also identified previously unknown features within the magnetic feature. Announcement • Jun 10
Red River Resources Limited Announces Results from Red River Red River Resources Limited announced results from its two diamond drill holes targeting Curry's Lode at its Hillgrove Gold Project in NSW, Australia. The program was successful, with both holes intersecting gold and tungsten mineralisation. Red River completed the Curry's Lode drilling program with the assistance of the Department of Regional NSW and the Geological Survey of NSW Cooperative Drilling Funding Scheme. Red River completed two additional diamond drill holes (CUY008A and CUY009) at Curry's Lode for a total of 349.4 metres to follow up its phase one drill program (7 holes CUY001-CUY007 for total of 776.4m) which confirmed the presence of high-grade
gold-tungsten mineralisation with associated antimony mineralisation at Curry's Lode. CUY009 was the first hole to test Curry's Lode mineralisation at depth, targeting approximately 100m below the best intercept identified from phase one drilling (CUY007). CUY009 was successful, with Figure 1 illustrating visible high-grade gold and Figure 2 demonstrating high-grade tungsten. The most significant antinomy grades were also intercepted by CUY009, proving mineralisation remains open at depth. CUY009 intersected 5.0m @ 9.2 g/t Au, 0.6% Sb and 0.38% WO3 from 144m down hole including 0.55m @ 27.7 g/t Au, 4.2% Sb and 0.39% WO3 from 146m down hole Red River is undertaking a detailed review of the drilling to plan the next drill program which will focus on extended the high-grade mineralisation along strike and at depth. Announcement • Jun 08
Cromarty Resources Pty Ltd and Red River Resources Limited Provide an Update on Legal Proceedings Relating to the Payment of Royalties Red River Resources Limited provided an update on legal proceedings against its wholly-owned subsidiary Cromarty Resources Pty Ltd. and Red River, relating to the payment of royalties. Thalanga Copper Mines Pty Ltd. commenced the Proceedings in 2019. The Proceedings relate to the obligation for Red River to pay royalties to TCM at its Thalanga Operations in northern Queensland, which it inherited when it acquired the project in 2014. Red River has received judgement in the Proceedings and the initial estimated range is approximately $15 million to $20 million in total for unpaid and future royalties. The final amount payable within the initial estimate and the timing of the payments has yet to be determined. Prior to these Proceedings, the royalties had no cap on the time period or dollar amounts that would have had to be paid by the company from Thalanga. Once determined, a final amount for these royalties can crystallise and Red River will have no ongoing royalty obligations to TCM. Red River is reviewing the judgement with its lawyers to assess its options and reserves its rights. Announcement • Apr 27
Red River Resources Limited Receives Encouraging Gold Results from Thalanga Drilling Red River Resources Limited announced encouraging initial results from its first-pass reverse circulation (RC) drilling program at the New Homestead and the Don gold prospects, part of its Thalanga Operations in northern Queensland. Drilling is targeting gold in areas proximal to its Thalanga Operations, where Red River produces zinc, copper and lead with gold and silver credits but is also seeking to build its exposure to gold. Red River applied for the Toomba and Don exploration tenements near Thalanga in 2020. Multiple RC drill holes (DNRC001, 002, 003 and 004) intersected high-grade mesothermal gold mineralisation in the Main Vein at the Don, with high grade and wider lower grade intercepts demonstrating the Main Vein
potential. Gold mineralisation intercepted at the Don is open in all directions (strike and dip). Red River plans to undertake first pass RC drilling at the Toomba gold prospect, which is currently scheduled to start in early May. Red River completed RC drilling at the Don prospect, approximately 20km NW of Thalanga, with 10 RC holes completed for 910 metres. The drilling intercepted extensive quartz sulphide veining and associated alteration in multiple holes. Assay results confirmed the presence of high-grade mesothermal gold mineralisation at shallow depths in a number of holes. Red River completed drilling at the New Homestead prospect, approximately 2km west of Thalanga, with 10 RC holes completed for 958 metres. Drilling intersected quartz sulphide veining in several holes. Red River will undertake the initial RC drill program at Toomba; 13 holes for 1,379 metres, most likely in May. RVR is seeking to build a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development. RVR's foundation asset is the Thalanga Base Metal Operation in Northern Queensland, which was acquired in 2014 and where RVR commenced copper, lead and zinc concentrate production in September 2017. RVR has commenced production at the high-grade Hillgrove Gold Operation in New South Wales which was acquired in 2019. The Hillgrove Operation is a key part of RVR's strategy to build a multi-asset operating business focused on base and precious metals. The information in this report that relates to Exploration Results is based on information compiled by Mr. Greg Cozens who is a member of The Australasian Institute of Mining and Metallurgy, and a full time employee of
Red River Resources Ltd., and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the `Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr. Cozens consents to the inclusion in this report of the matters based on the information in the form and context in which it appears. Executive Departure • Apr 24
Executive Director has left the company On the 22nd of April, Donald Garner's tenure in the role of Executive Director ended. As of December 2020, Donald personally held 8.46m shares (AU$2.4m worth at the time). Donald is the only executive to leave the company over the last 12 months. Announcement • Mar 16
Red River Resources Limited Commences Drilling Program Targeting Gold in Areas Proximal to Thalanga Operations in Northern Queensland Red River Resources Limited announced it has commenced a drilling program targeting gold in areas proximal to its Thalanga Operations in northern Queensland. Red River produces zinc, copper and lead with gold and silver credits at its Thalanga Operations, where it is currently mining the Far West deposit. In addition, the Company is seeking to build its exposure to gold at Thalanga, applying for the Toomba and Don projects near Thalanga last year. Red River's reverse circulation (RC) drill program aims to identify high-grade bulk tonnage shoots of gold- bearing quartz veins that can be trucked to and processed at Thalanga. RVR designed 33 RC holes to be drilled at the New Homestead, the Don and Toomba prospects to quickly assess the most prospective portions of lodes. To date, 10 RC drill holes (958 metres drilled) at the New Homestead prospect and 10 RC holes (910 metres drilled) at the Don prospect have been completed. Initial assay results are expected in 3-4 weeks. Red River has completed drill testing at the New Homestead prospect, approximately 2km west of Thalanga, with 10 RC holes completed for 958 metres. The drilling intercepted quartz sulphide veining in a number of holes. Assay results are expected within 3 to 4 weeks, and, subject to assay results, Red River will plan follow-up drilling. Red River has drill tested The Don prospect, approximately 20km NW of Thalanga, with 10 RC holes completed for 910 metres. The drilling intercepted extensive quartz sulphide veining and associated alteration in multiple holes. Assay results are expected within 4 to 6 weeks, and, subject to assay results, Red River will plan follow-up drilling. Announcement • Mar 12
Red River Resources Limited Increases Exploration Activities at its Thalanga Operations in Northern Queensland Red River Resources Limited announced it is increasing exploration activities at its Thalanga Operations in northern Queensland, targeting copper-rich base metal mineralisation. The program aims to increase production and/or extend mine life at Thalanga, which produces zinc, copper and lead concentrates, with gold and silver credits. Red River has commenced a micro gravity survey, targeting polymetallic and copper-rich massive sulphide mineralisation at Thalanga Range and the Coronation prospects to define potential massive sulphide drill targets to be followed up later in 2021. RVR's Thalanga Range micro gravity survey is targeting the favourable host horizon for Thalanga-style volcanic-hosted massive sulphide (VHMS) deposits along the southern side of the Thalanga Range to the west of the Thalanga mine. The Coronation micro gravity survey is targeting an area 4km NW of the Highway Reward deposit, which is highly prospective fom similar copper-rich massive sulphide mineralization. On completion of the microgravity survey, RVR will review the data generated in conjunction with previous exploration data (IP and surface geochemistry) to determine priority targets for follow-up drilling. A micro gravity survey is a very high resolution gravity survey. Gravity surveying is a non-destructive and non-invasive geophysical technique which measures minute changes in the force of the Earth's gravity. Changes in gravity measured at surface reflect the underlying geological structure, hence the accurate determination of gravity leads to an understanding of the ground beneath. Gravity surveying is an effective tool to target massive sulphide mineralisation as the high density (with respect to the lower density host rock) massive sulphide mineralisation represents as a gravity high. Thalanga Range Micro Gravity Survey: The Thalanga massive sulphide deposit is located within the rhyolites and volcaniclastic rocks of the Mount Windsor Volcanics, at or close to their contact with the dacitic rocks of the Trooper Creek Formation. To date, total production from the Thalanga massive sulphide deposit (Thalanga, West 45 and Far West) is approximately 5.9Mt @ 1.6% Cu, 2.5% Pb, 7.5% Zn, 66 g/t Ag & 0.5 g/t Au. The survey has commenced and is targeting an area west of the Far West deposit and will then move northwest along the Thalanga Range up to the Flinders Highway and then westward along the range for 4km. The target area contains the contact zone between the Mount Windsor Volcanics and the Trooper Creek Formation which hosts the Thalanga massive sulphide deposit. The survey will be on 130m spaced lines with 50m and 30m spaced stations (for a total of 78 line km with approx. 1,900 stations). RVR has previously conducted exploration (IP and surface geochemistry) to define massive sulphide targets along the Thalanga Range and drilled several of these targets. Drilling intersected extensive alteration and disseminated to low-grade mineralisation, indicative of the presence of large-scale footwall alteration/feeder systems. However, to date, drilling has not yet located base metal-rich massive sulphide deposits. RVR believes that the microgravity survey will help to determine if there are any positive gravity anomalies (which could represent massive sulphide mineralisation) associated with the large-scale footwall feeder systems. RVR drilling in 2015 intersected extensive zones of strongly chlorite and sericite-silica altered rhyolitic lithologies with abundant disseminated and veined sulphide mineralisation (pyrite-chalcopyrite-galena- sphalerite). All holes also intersected zones of pyrite-chalcopyrite-galena-sphalerite veins and stringers, being indicative of feeder zones known to be associated with massive sulphide mineralisation at Red River's Thalanga and Far West deposits. Coronation Micro Gravity Survey Recent and historical exploration at the Coronation prospect has identified several barite-quartz-sulphide-gold veins hosted in rhyodacitic volcaniclastics with disseminated sulphides, similar to the surface expression of the nearby Highway-Reward copper-rich massive sulphide deposit. Historic drilling of these veins did not intersect any significant mineralisation. A previous IP survey identified a strong chargeability feature on a single line near the barite veins, which has not yet been tested by drilling. The historic drilling at Coronation was shallow and wide spaced and could have easily missed a Highway-Reward style massive sulphide pipe. The aim of the microgravity survey is to locate potential massive sulphide bodies at depth beneath the geochemical anomalies. The Coronation microgravity survey will comprise 100m and 50m spaced lines with 50m spaced stations. The lines are oriented approx. perpendicular to the trend of the geology and geochemical anomalies and offset to the general strike of the barite veins, hence closer spacing over the veins (9.5 line km with 206 stations). Reported Earnings • Mar 03
First half 2021 earnings released: EPS AU$0.021 (vs AU$0.01 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$68.1m (up 106% from 1H 2020). Net income: AU$11.0m (up AU$16.2m from 1H 2020). Profit margin: 16% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jan 29
Red River Resources Limited Ramps Up Production at Hillgrove Gold Mine Red River Resources Limited announced update the market on ramp up activities at its Hillgrove Gold Mine in New South Wales after recommencing gold production at the site in December 2020. Red River commenced processing operations at Hillgrove on 28 December 2020, with more than 7,000 tonnes of ore from the Bakers Creek Stockpile processed to date. The Hillgrove Plant is successfully moving through its ramp-up phase, and gold recoveries to the flotation gold concentrate and Knelson gravity gold concentrate are in line with expectations. Commissioning of the gold leach circuit will commence shortly, with leaching expected to commence on the 31 January 2021. Hillgrove plant production ramping up - approximately 7,000 tonnes of low-grade ore from Bakers Creek Stockpile processed to date. Gold recovery to gravity gold concentrate and flotation gold concentrate in line with expectations. Leaching of flotation gold concentrate and gravity gold concentrate to commence on 31 January 2021. Price Target Changed • Jan 21
Price target raised to AU$0.30 Up from AU$0.27, the current price target is an average from 2 analysts. The new target price is 15% above the current share price of AU$0.26. As of last close, the stock is up 126% over the past year. Announcement • Jan 04
Red River Resources Limited Announces Further Results from its Drilling Program targeting the Eleanora Lode at its Hillgrove Gold Mine in NSW, Australia Red River Resources Limited announced further results from its drilling program targeting the Eleanora Lode at its Hillgrove Gold Mine in NSW, Australia. The company has received assays for drill holes ELG145, ELG146, ELG147 & ELG148 in the follow-up Eleanora drill program. ELG147 returned the highest grade assay interval drilled to date by Red River at Hillgrove, intersecting 1.00m @ 57.2 g/t Au & 1.6% Sb from 188.00m downhole. Other results included: ELG145 intersected 3.3m @ 1.7 g/t Au from 173.70m down hole; ELG146 intersected 9.15m @ 4.9 g/t Au & 1.1% Sb from 110.45m down hole including 4.00m @ 9.0 g/t Au & 2.4% Sb from 112.0m downhole; ELG147 intersected 10.70m @ 8.6 g/t Au & 0.5% Sb from 180.6m down hole including 2.00m @ 38.2 g/t Au & 2.1% Sb from 188.00m downhole; and ELG148 intersected 15.00m @ 7.7 g/t & 1.4% Sb from 156.0m down hole including 6.10m @ 13.9 g/t Au & 2.5% Sb from 157.00m down hole and including 1.10m @ 30.1g/t Au & 2.0% Sb from 162.0m downhole. Results received from drilling to date have confirmed the presence of high-grade gold-antimony mineralization within the Eleanora vein system and demonstrate the potential to develop Eleanora as an additional feed source to the Hillgrove Operation. The company has commenced gold production at Hillgrove, starting from the Bakers Hill stockpile (225kt @ 2.5 g/t Au) through the Hillgrove Processing Plant to produce gold doré before moving onto UG production in Stage 2. In the meantime, the Company aims to build up the Hillgrove resource base. The company is planning drilling over the next 3 to 4 months to support the conversion of the Eleanora-Garibaldi JORC 2004 Mineral Resource to a JORC 2012 Compliant Mineral Resource, to accelerate mine planning activities at Sunlight and generate samples for metallurgical test work. On completion of the Eleanora Uppers Phase 2 drilling program (penultimate hole in progress), the drill rig will commence the planned Garibaldi drilling. Is New 90 Day High Low • Jan 04
New 90-day high: AU$0.32 The company is up 100% from its price of AU$0.16 on 06 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$5.77 per share. Announcement • Dec 30
Red River Resources Limited Commences Production At Hillgrove Gold Operation Red River Resources Limited announce that it has started production at its Hillgrove Gold Operation in New South Wales. The Hillgrove Gold Operation is about 30km from Armidale in New South Wales. To date, Hillgrove has produced more than 730,000 ounces of gold (in bullion and concentrates), more than 50,000 tonnes of antimony (as metal and in concentrates) plus material amounts of by-product tungsten (in concentrates). The Hillgrove Gold Project has a substantial high-grade JORC 2012 Compliant Mineral Resource of 5.0Mt @ 4.3 g/t Au & 1.5% Sb (6.4 g/t Au Eq.) (692koz gold & 75kt antimony). The Hillgrove site includes a 250ktpa capacity processing plant, comprising a selective flotation circuit (capable
of producing antimony-gold and refractory gold concentrates), an antimony leach/EW/refining & casting plant, a gold cyanide leach circuit & gold room plus a pressure oxidation circuit. The site also has a fully HDPE (high- density polyethylene) lined modern tailing storage facility, which was constructed in 2006 and has approximately two years of production storage capacity. All of Hillgrove's electricity requirements are sourced from a 66kva grid connected power supply from Ergon Energy with 11kva site power reticulation. Water is sourced from storage dams and underground workings.
Hillgrove has all the office facilities required for operations, including an administration office, mining operations offices, maintenance offices, workshops (heavy vehicle, light vehicle and boilermaker's workshops), process plant offices, metallurgical laboratory building, first aid building, stores warehouse and core shed and yard. The Hillgrove Gold Operation as a residential site, with the majority of the workforce residing in Armidale and
the surrounding area. Red River controls the known Hillgrove Mineral Field, which hosts more than 200 known gold-antimony (Au-Sb) deposits. The majority of these deposits are steeply dipping vein systems within NW to WNW striking fracture systems, where the vein systems transition to gold dominant at depth with increasing levels of free gold. All known vein systems are open at depth. Announcement • Nov 25
Red River Resources Limited Renews Trafigura Offtake Agreements Red River Resources Limited reported that it has renewed the lead and zinc concentrate offtake agreements and an extended working capital facility with Trafigura Pte Ltd. has been established. The offtake agreements commence in January 2021 and run for 3 years. Under the terms of the offtake agreements, zinc and lead concentrates will be trucked approximately 200km to the Port of Townsville, for onward delivery to customers. Announcement • Nov 19
Red River Resources Limited Announces Results from Its Maiden Diamond Drilling Program Targeting Curry's Lode at its Hillgrove Gold Project in Nsw, Australia Red River Resources Limited announced results from its maiden diamond drilling program targeting Curry's Lode at its Hillgrove Gold Project in NSW, Australia. The program was an outstanding success, with all holes intersecting gold-tungsten-antimony mineralisation. Red River completed seven diamond drill holes (CUY001 to CUY007) at Curry's Lode for a total of 776.4 metres drilled. The program was an outstanding success, with all holes intersecting gold-tungsten-antimony mineralisation. Results received from the initial drill program confirmed the presence of high-grade gold-tungsten mineralisation with associated antimony mineralisation at Curry's Lode. Tungsten is present as scheelite (calcium tungstate CaW04) and minor visible gold mineralisation was noted in a number of intercepts. CUY001 intersected 0.40m @ 9.2 g/t Au and 0.35% WO3 from 47.60m down hole. CUY002 intersected 1.0m @ 6.5 g/t Au, 1.4% Sb and 0.26% WO3 from 44.0m down hole. CUY003 intersected 3.90m @ 2.1 g/t Au and 0.18% WO3 from 93.0m down hole. CUY004 intersected 3.15m @ 5.8 g/t Au, 0.1% Sb, 0.12% WO3 from 34.85m down hole including 1.30m. @ 12.2 g/t Au, 0.1% Sb, 0.23% WO3 from 35.60m down hole. CUY005 intersected 1.90m @ 5.9 g/t Au and 0.35% WO3 from 34.60m down hole including 0.85m @ 10.4 g/t Au and 0.56% WO3 from 35.15m down hole; and CUY006 intersected 1.00m @ 7.3 g/t Au and 0.12% WO3 from 20.0m down hole.CUY007 intersected multiple wide zones of mineralisation including: 5.00m @ 3.0 g/t Au, 0.6% Sb and 0.08% WO3 from 27.0m down hole including 0.50m @ 19.7 g/t Au, 5.8% Sb and 0.30% WO3 from 27.60m down hole. The mineralisation intersected at Curry's Lode is open in all directions (strike and dip) and it is pleasing to note that the drilling has intersected wide zones of mineralisation associated with high-grade veins. Red River is undertaking a detailed review of the drilling to seek to target zones of higher grade mineralisation for a 2021 drilling program. Red River plans to commence gold production at Hillgrove by end of CY2020, using material from existing stockpiles before restarting underground mining operations at Metz Mining Centre in mid to late 2021. It aims to develop additional mining centres at Hillgrove through exploration for gold and critical metals, including tungsten and antimony. Mineral occurrences of the Hillgrove Au-Sb-W district are hosted in late Palaeozoic metasediments and Permo-Carboniferous granitoids of the New England Orogen. To date, over 200 individual occurrences are known, with the mineralisation developed as strike extensive (>20km's of known veining) and potentially depth extensive steeply dipping fissures. These are contained within an approximate area measuring some 9km by 6km. Red River, through its extensive holding of mining and exploration leases controls the entirety of the known Hillgrove Au-Sb-W district. The mineralisation is developed in veins, vein breccias, sheeted veins, network stockworks and as alteration sulphide haloes to the main structures. The vast majority of fissures are sub-vertical and vary in widths of up to 20m in places. The earliest mineralising event was a scheelite-bearing phase of quartz veining. Subsequent phases of arsenopyrite-pyrite-quartz-carbonate veining were accompanied by gold and minor base metal sulphides. Alteration is typically sericite-ankerite-quartz. Overprinting stibnite-quartz veining with gold-electrum, aurostibite and arsenopyrite form an important subsequent phase. Veining can be inferred from historical records to extend for vertical depths of over 1 km. Is New 90 Day High Low • Nov 12
New 90-day high: AU$0.27 The company is up 93% from its price of AU$0.14 on 14 August 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.70 per share. Announcement • Nov 07
Red River Resources Limited Announces Mine Exceptional High-Grade Ore at Far West Red River Resources Limited reported it has intersected and mined exceptionally high-grade polymetallic ore at the Far West underground mine, part of its Thalanga Operations in northern Queensland. Price Target Changed • Oct 28
Price target raised to AU$0.20 Up from AU$0.16, the current price target is an average from 3 analysts. The new target price is 15% below the current share price of AU$0.24. As of last close, the stock is up 60% over the past year. Is New 90 Day High Low • Oct 26
New 90-day high: AU$0.20 The company is up 86% from its price of AU$0.11 on 28 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.77 per share. Announcement • Oct 05
Red River Increases Hillgrove Gold Resource to 692,000 Oz Red River Resources Limited announced an updated Mineral Resource of 5.0Mt @ 4.3 g/t gold & 1.5% antimony (692koz contained Au & 75kt contained Sb) for its Hillgrove gold project in NSW after updating the Mineral Resource for the Syndicate Lode. The Syndicate Lode resource now stands at 318kt @ 3.8 g/t Au & 3.6% Sb (8.9 g/t Au Eq.) (39koz contained Au & 11kt contained Sb). The Syndicate Mineral Resource is now reported to a 3g/t Au eq cut-off, in alignment with current expectations of economic potential. Red River used a review of historic mine production reconciliation to face sampling as guidance. No additional data has been incorporated into the model. Red River is on track to recommence Hillgrove's gold production in CY2020, initially from the Bakers Creek stockpile before restarting underground operations in CY2021, focusing on Syndicate Lode plus the Blacklode & Sunlight Mineral Resources, which are accessible from existing development. Hillgrove Gold Project's current total JORC 2012 compliant Mineral Resource is 5.0Mt @ 4.3 g/t Au & 1.5% Sb (692koz contained Au & 75kt contained Sb). Hillgrove also has a substantial remaining JORC 2004 compliant Mineral Resource, which Red River is systematically converting to JORC 2012 compliance. Red River estimates more than $200 million has been invested in the Hillgrove Gold Project since 2004 in the following key areas: 250ktpa capacity processing plant (constructed in 2008/2009), capable of producing saleable gold and gold-antimony concentrates. Additional antimony alkali leach and electrowinning circuit, pressure oxidation circuit, gold cyanide leach circuit and gold room; Offices, warehouses, assay lab and maintenance facilities; Underground mining fleet and surface vehicle fleet; Lined tailing storage facility with approximately 2 years capacity; and Extensive underground development (>10km). Orogenic gold-antimony-tungsten mineralisation at Hillgrove is hosted in multiple steeply dipping vein/shear systems contained within the Hillgrove Mineral Field. There is a strong zonation in the vein systems transitioning from shallow antimony dominant mineralisation to gold dominant mineralisation at depth. All known vein systems are open at depth, with potential transition to high grade gold dominant mineralization at depth. Metz Mining Centre: Syndicate Lode is located in the Metz Mining Centre, which also includes the Blacklode, Sunlight and Cox's Lode systems. The Metz Mining Centre has a Mineral Resource of 3.0Mt @ 4.5 g/t Au & 1.4% Sb (426koz contained Au & 41kt contained Sb). The Hillgrove Mineral Field is cut by two regional scale faults of ENE strike, the Hillgrove Fault on the northern margin and the Chandler Fault on the southern margin. These faults have a sinistral (left lateral) throw, with interpreted displacements of up to 500m. Both faults pre-date the mineralisation, with late reactivation opening dilation zones along the shear structures between the bounding faults. These dilation zones provide favorable sites for mineralisation. Nearly all the mineralised shears at Hillgrove are associated with a NW-trending structural belt between the two faults, with dips commonly 70o to vertical. A major structure running through the centre of the field from Brackin's Spur in the south, through the Garabaldi and Eleanora mines, to the Cosmopolitan deposits in the north can be traced over a strike length of 4km. The Metz Mining centre is west of this structure. Gold and antimony mineralisation at Hillgrove is structurally controlled. The deposits exhibit various styles of hydrothermal activity, with veining ranging from simple single veins through parallel stringers to quartz stockwork and wall rock breccias. All major veins have been intruded along shears with sinistral (left lateral) movement. The shears range in width from millimetre to multiple metre widths. Splits in the veins enclose high grade mineralised zones where tension gash type stringer veins cut across the enclosed rocks. Splay veins enclose similar zones that die out as the vein diverges away from the main lode. Announcement • Sep 26
Red River Resources Limited Announces Results from Its Maiden Diamond Drilling Program Targeting the Eleanora Lode At Its Hillgrove Gold Project in NSW, Australia Red River Resources Limited announced further results from its maiden diamond drilling program targeting the Eleanora Lode at its Hillgrove Gold Project in NSW, Australia. Drilling has now commenced at the Curry's Lode target as Red River firms up gold targets at the project ahead of commencing gold production at Hillgrove by end of CY2020. Red River received assays for drill holes ELG139, ELG140, ELG141, ELG142, ELG143 and ELG144 in its initial
Eleanora drill program. ELG139 intersected 7.0m @ 2.2 g/t Au & 0.3% Sb from 119.0m down hole including 2.4m @ 5.2 g/t & 0.9% Sb Au from 123.6m downhole; ELG140 intersected 9.1m @ 1.7 g/t Au & 0.1% Sb from 88.0m down hole including 3.8m @ 2.8 g/t Au from 93.3m down hole; ELG141 intersected 7.5m @ 4.1 g/t Au & 0.6% Sb from 141.0m down hole including 1.75m @ 15.6 g/t Au & 2.7% Sb from 143.8m downhole; ELG141 intersection containing visible gold returned an assay of 0.45m @ 32.3 g/t Au & 6.9% Sb from 144.4m down hole; ELG142 intersected 8.4m @ 2.9 g/t Au from 31.8m down hole; ELG143 intersected 8.0m @ 2.7 g/t from 45.0m down hole including 5.0m @ 3.8 g/t Au from 48.0m down hole; and ELG144 intersected 12.8m @ 1.5 g/t from 60.0m down hole including 3.60m @ 2.8 g/t Au from 65.0m down hole. Results received from drilling to date from have confirmed the presence of high-grade gold-antimony within the Eleanora vein system and adjacent halos of low to medium-grade gold mineralisation. Some very high-grade intercepts of up to 32.3 g/t gold, including visible gold, demonstrates there is a significant remnant resource which Red River will continue to pursue, given Eleanora is 200m from the Hillgrove processing plant and on a mining lease. Red River will plan a second phase of drilling at Eleanora once all assays are received, seeking to grow the resource and upgrade it to JORC 2012 standard, with a view to enabling a second independent mining centre at Hillgrove. Red River plans to initially produce gold doré from the Bakers Creek stockpile starting in CY2020 in Stage 1 before resuming underground operations at the Metz Mining Centre (Syndicate, Sunlight, Blacklode orebodies) to produce gold-antimony concentrate, gold concentrate and gold doré in Stage 2 next year. Red River will release more details of its drilling at Curry's Lode in a separate announcement in the coming weeks. The Hillgrove Gold Project is located approximately 30km from Armidale in New South Wales. Historic mining activity commenced at the site in 1857 and ceased in 1921 and recommenced in 1969. To date, Hillgrove has produced more than 730,000 ounces of gold (in bullion and concentrates), more than 50,000 tonnes of
antimony (as metal and in concentrates) plus material amounts of by-product tungsten (in concentrates). The Hillgrove site includes a 250ktpa capacity processing plant currently on active care & maintenance comprising a selective flotation circuit (capable of producing antimony-gold and refractory gold concentrates), an antimony leach/SXEW/refining & casting plant, a gold cyanide leach circuit & gold room and a pressure oxidation circuit. The site also has a fully HDPE (high-density polyethylene) lined modern tailing storage facility, which was constructed in 2006, and has approximately two years of production storage capacity. The Hillgrove Gold Project has a material high-grade JORC 2012 Compliant Mineral Resource of 5.0Mt @ 4.3 g/t Au & 1.5% Sb (6.4 g/t Au Eq.) (686koz gold & 74kt antimony). Red River has undertaken a detailed review in preparation for the restart of the Hillgrove Gold Project. The
outcome of the review was a lean capital efficient staged restart process, with Stage One (processing of Bakers Creek Stockpile) scheduled to commence at the end of CY2020, and Stage Two (full restart of UG mining operations) scheduled to commence at the end of CY2021. Red River has announced a Mineral Resource of 225kt @ 2.5 g/t Au (18koz Au contained) for the Bakers Creek Stockpile. Metallurgical test work completed indicated a total gold recovery of ~80% to gold doré when gold is recovered to a gravity gold concentrate and a flotation gold concentrate which will be leached on site to produce gold doré. Red River will utilise the extensive existing site infrastructure and equipment to deliver a low capital cost restart, with an estimated Stage One capital cost of less than $5m. Announcement • Jul 30
Red River Resources Limited to Report Q4, 2020 Results on Jul 28, 2020 Red River Resources Limited announced that they will report Q4, 2020 results at 8:30 AM, E. Australia Standard Time on Jul 28, 2020 Announcement • Jun 22
Red River Resources Limited(ASX:RVR) dropped from S&P/ASX Emerging Companies Index Red River Resources Limited(ASX:RVR) dropped from S&P/ASX Emerging Companies Index