Red River Resources Limited (ASX: RVR) – $0.120
29 Apr 2016
Red River Resources Limited (ASX: RVR) has commenced an initial two hole diamond drilling program at the Truncheon target within the Thalanga Zinc Project located in central Queensland (Figure 1).
Figure 1. Location of the Truncheon target within the Thalanga Zinc Project
The initial drilling program comprises two diamond core drillholes at planned depths of 500 metres designed to test coincidental gravity, induced polarisation and geochemical targets.
The company recently reprocessed historical geophysical data within the Truncheon target area and observed an anomaly of similar size and scale to the Highway Reward deposit. The Highway Reward copper deposit, located approximately 3km northeast of the Truncheon target, was mined from 1998 to 2005 with total production of 3.8Mt at 6.2% copper and 1.0g/t gold from open pit and underground mining operations.
The drilling program has been part-funded by a $75,000 grant received by the company from the Queensland Government’s Future Resources Program.
For further information, visit www.redriverresources.com.au
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