Red River Resources announced positive results from work to restart gold production at its Hillgrove gold project in NSW.
Red River Resources (ASX:RVR,OTC Pink:RRRDF) announced positive results from work to restart gold production at its Hillgrove gold project in NSW.
Highlights are as follows:
- Red River to use Hillgrove’s plant and infrastructure to restart gold production in 2020 and leverage high gold prices.
- Results from Bakers Creek waste dump demonstrate it is a fast restart opportunity.
- Metallurgical testwork on Bakers Creek samples generates positive results.
- Gravity concentrate testwork undertaken indicates 60-65 percent gold recovery.
- Flotation concentrate testwork indicates a further 20-25 percent of gold can be recovered
- Onsite gravity and flotation concentrate leaching to produce gold doré with total gold recovery (of gold contained in the Bakers Creek feed material) of 75-80 percent.
- Review of 137 samples from six Bakers Creek waste dump sampling programs since 1982 returns weighted average grade of 2.5 grams per tonne gold.
- Bakers Creek waste dump exploration target of 200,000 – 300,000 tonnes at 2.0 – 3.0 gams per tonne gold.
Mel Palancian, managing director, commented:
These results from Hillgrove show we can re-start gold production from existing onsite material. Having only acquired Hillgrove in August 2019, we are pleased that results to date have validated our strategy to expand our operations and we are progressing our plans to restart Hillgrove production before the end of 2020.