Red River Resources Limited has announced that a review of the historic Thalanga exploration database has identified a number of additional high priority exploration targets at its Thalanga Zinc Project in central Queensland.
The review has confirmed that the favourable Thalanga Horizon is open at depth to the west and the east, and has highlighted a number of areas for further high priority exploration.
Of particular interest is the Thalanga East to Far East area, where the review highlighted a historic drill hole intercept of 4.6m @ 4.1% Cu beneath Thalanga East and multiple intercepts of polymetallic zinc rich mineralisation at Far East, with a best intercept of 5.7m @ 23.2% Zn Eq.
Red River’s Managing Director Mel Palancian commented: “Following the success of our recent drilling at Far West and the subsequent updated Mineral Resource, we decided to carry out a more extensive review of the historical drilling at Thalanga which has produced very exciting results.
“This review has confirmed that Thalanga remnant orebody is open at depth (to the west and east), and has also identified a number of high priority exploration targets, in particular beneath the known mineralisation at Thalanga East and the Far East zone.
“The company is currently planning to focus on the Thalanga East – Far East high priority exploration area, model the known mineralisation and design a drill program to extend the known mineralisation.”
Thalanga Zinc Project Background
Red River released a Restart Study (the internal study prepared by Red River to assess the potential restart of the Thalanga Zinc Project) in November 2015, which demonstrated the highly attractive nature of the Project. The Project has a low operating cost, low pre-production capital cost ($17.2 million), and a short timeline to production (six months).
Annual average production is 21,400 tonnes of zinc, 3,600 tonnes of copper, 5,000 tonnes of lead, 2,000 ounces of gold and 370,000 ounces of silver in concentrate over an initial mine life of five years, and there is outstanding extension potential.