Red River eyes gold dumps at Hillgrove
PERTH (miningweekly.com) – The share price of ASX-listed Red River Resources has increased by more than 6% on Wednesday on news that the company had identified gold potential at the waste dump of the newly acquired Hillgrove project, in New South Wales.
Red River has established operations at the Hillgrove mine after completing the A$4-million acquisition in August this year.
The company told shareholders that it has identified gold potential at a waste rock dump at the Bakers Creek gold mine, which forms part of the greater Hillgrove project.
The Bakers Creek waste dump was created during mining operations between 1877 and 1921, with some 303 900 oz produced from 175 980 t of ore. Red River noted that the ore was hand sorted underground and on surface.
Previous sampling at the waste rock dump in 2006 returned a weighted average grade of 3.49 g/t gold, with sampling occurring at eight locations for a total of 24 samples.
Red River has now started metallurgical sampling, with testwork to follow shortly.
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