Red River Resources is building its gold portfolio in the Thalanga region with an exploration permit granted for the Toomba project and an application in play for the Don project.

Small-scale historical gold mining activities have occurred in both project areas, which are 20-30km north-west of Red River’s Thalanga operations in the Charters Towers region.

Red River processes base metals at its Thalanga mill, but revealed yesterday that it had recently run old tailings from the Liontown gold project through the plant to produce about 600 tonnes of concentrate containing about 1300oz gold.

The company is fast-tracking development of the Liontown gold project as its next mine at the Thalanga complex after ‘outstanding’ exploration results.

It’s strategy of targeting known gold mineralisation within trucking distance of Thalanga comes in the face of a high gold prices.

Gold futures hit a seven-year high of $US1804 an ounce overnight (about $AU2615), while today gold spot prices remain above $AU2580/oz.

“In parallel with plans to restart gold production at our Hillgrove project in NSW this year, we are working to maximise our exposure to gold at Thalanga, where we can produce gold in addition to our ongoing base metals operations,” Red River managing director Mel Palancian said.

“As part of that strategy, we have targeted areas of known gold mineralisation in the Thalanga region, and both the Toomba and Don projects fit that criteria with historical gold production and exciting prospects for follow-up.

“Our exploration team has commenced exploration activities at Toomba and is now planning a work program for the remainder of CY2020.”

Exploration by previous tenement holders confirmed the presence of high-grade gold mineralisation in multiple identified vein systems at the Toomba project (Toomba Old Workings, Toomba East, Central and Lady
Barrington) and the Don project (Don and Don SW).

China Yunnan Copper completed nine reverse circulation drill holes at the Toomba Project in 2008/2009, with results including an intersection of 2m at 26.5 g/t gold and 43 g/t silver from 43m down-hole at the Toomba Old Workings.

This result was not followed up and represents a high priority exploration target for Red River.