Base Metals: Red River off to a flying start at Liontown with high-grade polymetallic hits
Red River Resources’ (ASX:RVR) maiden drilling program at the Liontown project in northern Queensland has delivered the goods with the five initial holes returning high-grade zinc, copper, lead and gold mineralisation.
The results support historical drill data and confirm the high-grade, gold-rich nature of Liontown, which is part of the company’s Thalanga operations.
Notable hits include a 4.7m zone at 6.5 per cent zinc, 2.9 per cent copper, 2 per cent lead and 0.1 grams per tonne (g/t) gold (18.7 per cent zinc equivalent) from 182.3m in the Liontown Main Lens and an intersection of 5.4m at 7.8 per cent zinc, 5.5g/t gold, 4.7 per cent lead and 0.4 per cent copper (16.7 per cent zinc equivalent) from 45.5m within the New Queen lens in the same hole.
All five holes returned high-grade polymetallic massive sulphide mineralisation in the Liontown Main Lens position while two of the holes also intersected broad zones of polymetallic mineralisation with strong gold grades in the shallower New Queen Lens.
In addition, two of the holes intersected the copper dominant Carrington Lens and confirmed that it remains open below historical workings.
Assays are pending for further holes at Liontown.
The cashed-up company currently has a resource of 3.6 million tonnes at 10 per cent zinc equivalent at Liontown.
Red River acquired the Thalanga operations in 2014 and restarted production in 2017. It produced 9,057 tonnes of zinc concentrate, 3,369 tonnes of lead concentrate and 1,806 tonnes of copper concentrate in the June 2019 quarter.
Superior Lake Resources (ASX:SUP) has kicked off drilling to test three geophysical targets at its namesake zinc project in Ontario, Canada. The first target at Pick North was selected due to its proximity to existing mineralisation and infrastructure.
Ragnar Metals (ASX:AGR) is poised to start an induced polarisation survey at its Tullsta and Gaddebo nickel projects in Sweden. Results from the survey will assist drill target planning.