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Red 5 Scores Big Hits Assaying Historical KOTH Core

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) is continuing to produce encouraging results from ongoing assaying of historical diamond drill core from the King of the Hills (KOTH) gold mine, located in the Eastern Goldfields region of Western Australia.

Red 5 said the results confirm the presence of gold mineralisation by revealing zones in areas that have been assigned zero grade in the current 3.1 million ounce Resource model.

Latest highlights include:

KUD00024
3m at 13.3 grams per tonne gold;

KUD00059
1.4m at 30g/t gold;

KUD00138
16m at 2.6g/t gold;

KUD00153
7m at 5.0g/t gold;

KUD00175
3m at 16.8g/t gold;

KUD00182
15.4m at 2.6g/t gold;

KUD00183
2.8m at 14.4g/t gold;

KUD00184
1m at 39.9g/t gold;

KUD00186
14.1m at 5.2g/t gold;

KUD00224
10m at 3.6g/t gold;

KUD00225
4.5m at 7.6g/t gold;

KUD00226
7.2m at 6.0g/t gold;

KUD00228
6.6m at 6.2g/t gold;

KUD00234
18m at 1.8g/t gold;

KUD00239
2.6m at 66g/t gold;

KUD00485
8m at 5.8g/t gold; and

KUD00562
7.2m at 4.6g/t gold.

Red 5 has now assayed a total of 17,047m of previously unassayed drill core from 266 historical diamond holes, representing approximately 49 per cent of the total length of these holes.

A further 12,600m of un-sampled intervals of historical drill core has been identified and is planned to be assayed, bringing the total to around 30,000m (compared to the initial estimate of 20,000m).

Red 5 explained that assaying of historical core is being undertaken in parallel with underground diamond drilling programs, with approximately 85,000m of drilling planned for FY2020.

The company is conducting the assay program for historical drill core in parallel with ongoing underground drilling as it considers both programs offer strong potential to expand the existing 3.1 million ounce KOTH Mineral Resource base.

“This program has been a big free kick for the project and company,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“We continue to see very positive results from systematically assaying the extensive quantity of previously unassayed historical core available at KOTH, with the results demonstrating the presence of significant amounts of gold mineralisation located in between the high-grade veins that were the primary focus for past owners.

“In parallel, we are progressing the major underground drill program at King of the Hills, with planning underway to drill approximately 85,000 metres for FY2020.

“Assay results from this ongoing drilling will be progressively announced in due course.

“These programs will both feed into future Mineral Resource updates, as well as the ongoing Final Feasibility Study for the integrated bulk open pit and underground mining operation at KOTH, which is scheduled for completion by mid next year.”

 

Email: info@red5limited.com

Web: www.red5limited.com

 

THE DAILY ROADHOUSE

 

Comet Resources Scores High Results Graphite From Springdale Diamond Drilling

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Hammer Metals Kicks Off Bronzewing South Follow-up Drilling Program

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Carawine Resources to Target Copper-Gold Porphyries

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Matador Mining Expands Canadian Mineralisation

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) extended the mineralised area at the Window Glass Hill deposit at the company’s Cape Ray gold project in Newfoundland, Canada.

Red 5 Targets History to Expand KOTH Mineralisation

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) recently conducted underground exploration drilling at the company’s King of the Hills (KOTH) gold mine in the Eastern Goldfields region of Western Australia.

Red 5 Targets History to Expand KOTH Mineralisation

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) recently conducted underground exploration drilling at the company’s King of the Hills (KOTH) gold mine in the Eastern Goldfields region of Western Australia.

Red 5 said the drilling identified a new target area for Resource extensions at the King of the Hills mine by confirming the presence of gold mineralisation more than 470 metres vertically down-plunge to the north of the current 3.1-million-ounce Resource area.

The company explained that drill-hole KHRD0278 was drilled to target previously reported high-grade historical exploration results, which returned a series of high-grade intercepts including 4m at 30.74g/t gold from 588m down-hole (TARD4041) in an area down-plunge to the north of the historical open pit.

KHRD0278 targeted an area within 80m of TARD4041, however it deviated from the original planned course and did not successfully test the intended target.

Red 5 reported that the hole did, however, intersect the prospective granodiorite-ultramafic contact and confirmed that this contact remains mineralised 470m vertically down-plunge to the north of the current Resource area.

The company considers this result supports and enhances the emerging bulk mining opportunity at KOTH, providing a new target for ongoing Resource extension drilling.

Results from KHRD0278 include:

16 metres at 1.24 grams per tonne gold (204m-220m), including 0.34m at 29.3g/t gold;

7.5m at 1.13g/t gold (286m-293.5m), including 0.33m at 14.25g/t gold;

15m at 1g/t gold (407m-422m), including 0.23m at 29.6g/t gold; and

9m at 1.26g/t gold (464.7m-473.8m), including 0.25m at 21.1g/t gold.

“This is an encouraging development, which provides further insight into the broader potential of the KOTH mineralised system developing around the granodiorite contact,” Red 5 managing director Mark Williams said in the company’s announcement to the Australian Securities Exchange.

“The underground component of our current Mineral Resource totals 1.11 million ounces of contained gold, which covers around one kilometre of strike.

“The perimeter of the granodiorite is over 12 kilometres, with significant potential for along strike extensions or repeats of the existing Resource.

“Our intention is to progressively extend and test new areas within the granodiorite under the south pit and around the north-eastern and northern section of the granodiorite contact in the coming months, with three diamond rigs now operating on site, bringing our total planned underground drill metres for KOTH to approximately 85,000 metres for FY2020.

“Exploration and Resource in-fill drilling are being undertaken in parallel with the assaying of previously unassayed historical drill core, with all three programs offering the potential to further define and expand the KOTH Resource base.

“We are also forging ahead with a Final Feasibility Study for an integrated bulk open pit and underground mining operation at KOTH, which is scheduled for release in mid-CY2020.”

 

Email: info@red5limited.com

Web: www.red5limited.com