Drill rig on site at Tartana tenements

Drillers are starting work to test copper and zinc targets on R3D Resources' Tartana mining leases near Chillagoe in Far North Queensland. R3D has told the ASX that historical drilling in the Queen Grade zinc mineralisation had been limited to a depth of 130m . This was despite encouraging intersections including 33m at 12 per cent zinc. Nearby zinc mineralisation on other mining tenure at King Vol extends to over 900m depth and Monte Video mineralisation remains open below 250m drilling depth. The copper target to be tested in this program has been identified from historical IP and resistivity anomalies, surface mineralisation trends and historical drilling data including the company’s scout drilling program completed in the second half of last year. Managing director Stephen Bartrop. R3D said a drilling rig, supplied by AED was expected to start drilling this weekend. “We are looking forward to this drilling program as the last drilling that was conducted on the Queen Grade zinc mineralisation was more than a decade ago with the project having a low priority to the previous owners at that time,” managing director Stephen Bartrop said. “Elsewhere, the copper target is within an area that has never been tested despite being closer to multiple areas of zinc skarn mineralisation and the Palmerville fault zone.” R3D Resources began trading on the ASX in July last year after completion of a $4.25 million capital raising and a relisting that involved the friendly takeover of Tartana Resources. It holds a range of assets in the Chillagoe region, including the Tartana mining lease – with an established heap leach-solvent extraction-crystalisation plant. R3D Resources exercises Beefwood gold option The company announced this week that it was securing further exploration targets in the region by exercising its option over the Beefwood project under improved terms. Beefwood lies within the broader 1250sq km Bulimba project which is subject to an agreement with Newcrest Mining. “We are delighted to have consolidated the Bulimba – Beefwood project into one of the largesttenement positions in the Chillagoe region via the exercise of the Beefwood option," Mr Bartrop said. "Our geophysics has identified seven prospective targets and, in some cases, these are supported with anomalous surface geochem including gold recording up to 282 g/t gold in pisolitic cover.” The original terms of the Beefwood option provided for an exercise price of $385,000 to be paid in shares but R3D has renegotiated the price down to $192,500. The Beefwood option exercise is subject to the vendor's successful renewal of the EPM, which is expected to take several weeks. Photo at top: The Tartana plant near Chilllagoe

Drill rig on site at Tartana tenements

Industry Queensland

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