Australia

Red River Resources posts maiden gold resource at Hillgrove Project

Red River Resources Ltd (ASX:RVR) has revealed a maiden JORC resource of 18,000 ounces grading 2.5 g/t gold at the Bakers Creek Stockpile within its Hillgrove Gold Project in New South Wales.

Processing the Bakers Creek stockpile will allow Red River to commence gold production at Hillgrove in CY2020 using existing equipment and infrastructure, leveraging its exposure to high gold prices.

Metallurgical test work indicates 75-80% of the gold at the Bakers Creek Stockpile can be recovered using the existing Hillgrove Mill with minimal capital expenditure.

Low capital-cost path to gold production

Red Rivers managing director Mel Palancian said: “The Bakers Creek Stockpile offers Red River an exceptionally low capital cost restart route for the Hillgrove Gold Mine.

“The short time line to restart operations combined with the forecast very low operating costs (no mining cost) will allow Red River to generate materiRead More – Source