Red 5 Moves KOTH Feasibility Closer to Completion

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) reported its Final Feasibility Study (FFS) for the proposed stand-alone integrated bulk open pit and underground mining and processing operation at the company’s King of the Hills (KOTH) gold project in Western Australia is on schedule for completion in the September 2020 Quarter.

Red 5 is currently reviewing the design and costings for the Process Plant and other on-site infrastructure.

Mine planning studies are continuing with the final KOTH open pit, satellite deposits, underground mine designs and mine schedules expected to be finalised early in the September 2020 Quarter.

An updated KOTH Ore Reserve to follow is anticipated to form part of the Final Feasibility Study.

“We continue to systematically progress towards completion of the FFS, with mining and engineering studies well advanced and project approvals on schedule,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“Strong progress is being made with planning for site early works and ordering of long-lead items, with the delivery of a recently-purchased accommodation village and offices expected to coincide with the planned commencement of site early works in the second half of CY2020.

“Over the coming weeks we expect to complete our review of the designs and costings for the Process Plant and other on-site infrastructure, and finalise the tailings storage management report, while also progressing heritage surveys over key infrastructure corridors.

“The successful completion of these workstreams will put us on track to deliver the FFS on schedule in the September 2020 Quarter, marking a major milestone towards the development of one of Australia’s most exciting new gold development projects.”