PERTH (miningweekly.com) – Junior Red River Resources has reported a 125% increase in contained gold at its Liontown deposit, in Queensland.
Liontown's mineral resource is now estimated at 2.6-million tonnes, grading 0.7% copper, 1.6% lead, 5.1% zinc, 1.4 g/t gold and 30 g/t silver, representing a 36% increase in the mineral resource tonnage, a 125% increase in contained gold, a 109% increase in contained copper, and a 53% and 34% increase in contained zinc and lead respectively.
“The material upgrade to the Liontown mineral resource, with contained gold and copper more than doubling, is an outstanding result, and validates our decision to develop Liontown as the third mine as part of our Thalanga operations, especially given its high gold content,” said Red River MD Mel Palancian.
“This year we plan to progress Liontown for potential development next year as we work to increase our exposure to gold at Thalanga while prices are at record highs, in tandem with bringing the Hillgrove gold project, in New South Wales, back into production this year.”