Red River Resources : RVR hits 86m @ 2.3% Zn Eq from surface at Cougartown
RVR.AX
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ASX Announcement
ASX Code: RVR
20 January 2022
RVR hits 86m @ 2.3% Zn Eq from surface at Cougartown
Summary:
Red River Resources Limited (ASX: RVR) is pleased to announce results from reverse circulation drilling at Cougartown, Cougartown West and Max Cu-Au exploration prospects near its Liontown Project, part of its Thalanga Operations in north Queensland (Figure 1).
Red River continues to progress development of Liontown as the third deposit for its Thalanga Operations, prospects near Liontown will potentially provide additional feed to the process plant at Thalanga. Liontown has a current Mineral Resource of 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1 g/t Au & 29 g/t Ag (12.7% Zn Eq).
Figure 1: Location of Red River's exploration prospects near the Liontown deposit at Thalanga
Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
Red River completed 5,697m of drilling at Liontown (results reported 18 August 2021 and 2 December 2021) and 1,928m of drilling on the Cougartown, Cougartown West and Max-Au satellite prospects, which has returned several exciting intercepts including:
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Cougartown
Figure 2: Location of Liontown Satellite Exploration Programs
Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
T: +61 3 9017 5380 F: +61 3 9670 5942 W: www.redriverresources.com.au
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Figure 3: 3D comparison of Liontown Project including Cougartown prospect and the Thalanga system
Cougartown Prospect
Background
Located 1.5km west of the Liontown Resource on EPM 14161 in a thickened sequence of north-northwest striking, steeply dipping, Trooper Creek dacite volcaniclastics, the prospect outcrops as a 4m wide, 200m strike Pb-Zn-Ag-Au gossan. The gossan and associated mineralisation are located on a contact between strongly silica-chlorite altered pumice breccia in the north (stratigraphic footwall) and a feldspar phyric pumice breccia/dacitic volcaniclastic in the south.
This geological setting is much like the New Queen horizon at Liontown and is therefore highly prospective. Past trenching and soil sampling delineated Cu-Au-Pb-Zn anomalies parallel to stratigraphy. A weak coincident induced polarization (IP) anomaly was identified during a 1985 geophysical survey.
Several past drill programs have been completed over the greater prospect area with positive results. RVR exploration team identified gaps in the coverage of the past drilling and implemented a program to confirm historic RAB results with high sample quality reverse circulation drilling.
Red River Exploration
Red River completed four reverse circulation holes for 556 metres. Holes were between 88m and 202m in length and inclined to the north. All holes intercepted mineralisation.
CGRC001 and CGRC004 targeted the shallow area below the outcropping gossan. CGRC002 and CGRC003 targeted both a parallel horizon to the south and the gossan horizon at depth.
The results are a strong indication of a significant mineralising system, likely dipping near vertical.
Due to these results and similar from surrounding shallow drill programs, targeting will now focus on the potential for a change and upgrading of the mineralising system at depth. Assessment and prioritising of deeper drilling is underway.
Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
T: +61 3 9017 5380 F: +61 3 9670 5942 W: www.redriverresources.com.au
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Table 1: Cougartown Prospect Results
Hole ID
From
To
Intersection
Au
Cu%
Pb%
Zn%
Ag
Zn
Oxidation Sate
(m)
(m)
(m)*
g/t
g/t
Eq. %
CGRC001
0.0
21.0
21.0
0.02
0.09
0.13
0.83
14.5
1.62
Oxide/Transitional
and
55.0
98.0
43.0
0.10
0.03
0.20
1.05
3.2
1.60
Sulphide
CGRC002
7.0
10.0
3.0
0.01
0.02
0.00
1.09
22.1
1.70
Oxide/Transitional
and
148.0
150.0
2.0
0.03
0.05
0.03
2.15
1.3
2.38
Sulphide
and
178.0
180.0
2.0
0.08
0.02
0.43
0.82
1.8
1.35
Sulphide
CGRC003
101.0
119.0
18.0
0.03
0.01
0.06
1.47
0.0
1.63
Sulphide
and
142.0
158.0
16.0
0.03
0.02
0.04
1.61
0.8
1.71
Sulphide
CGRC004
0.0
86.0
86.0
0.11
0.06
0.17
1.43
11.1
2.28
Oxide/Transitional
/Sulphide
Including
0.0
36.0
36.0
0.17
0.08
0.29
0.86
19.0
1.95
Oxide/Transitional
including
36.0
86.0
50.0
0.07
0.05
0.08
1.84
5.3
2.23
Sulphide
including
47.0
50.0
3.0
0.25
0.07
0.44
5.18
0.2
6.21
Sulphide
*Downhole width (1% Zn Eq cut off)
Figure 4: Cougartown Prospect drill locations
Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
T: +61 3 9017 5380 F: +61 3 9670 5942 W: www.redriverresources.com.au
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Cougartown West Prospect
Background
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Located 2.5km northwest of Liontown, the Cougartown West prospect is a 200 x 300m Cu-Pb-Zn soil anomaly on a north-west striking contact between a northern feldspar-phyric pumice breccia and a southern younger pumice breccia containing common ash interflows. The geology is equivalent to the Liontown footwall dacitic pumice breccia and thus the mineralisation is in the New Queen position. The prospect is under shallow cover with minor sub-crop.
Following the identification of the soil anomaly, strong EM responses were identified by Esso in 1982-1984 and 445m of trenching located mineralisation in the northern section of the broader anomaly. Cougartown West sits on Line H of the Red River 2014 IP Survey (Figure 5) (ASX Announcement 06 February 2015). The geophysical signature of this anomaly is consistent with the current interpretation of weak structurally hosted base metal mineralisation. A second moderate sized geophysical anomaly occurs at the northern end of the line at ~744200N. This anomaly whilst relatively discreet is situated under ~50-100m of cover.
Three holes by previous explorers have been drilled at the prospect. A western hole hosted mineralisation within a sericite-pyrite-silica-altered dacitic schist (likely shear zone) stratigraphically above a feldspar-phyric pumice breccia. This mineralisation was located below the southern section of anomalous zinc identified within the trenches, but the hole did test the full trench anomaly.
The remaining two holes are located southeast and did not return any positive results. They do not test the eastern extent of the trench anomaly.
Red River exploration
Red River's first-pass program comprised five reverse circulation holes for 656 metres. The holes tested the possibility of multiple lenses on an 80m spacing to cover a total strike 240m. Holes were between 118 and 154m in length and inclined to the north.
Four holes CWRC001, CWRC003, CWRC004 and CWRC005 spaced at 80m along strike tested below the main surface zinc geochemical trend. They intersected schistose volcanoclastic breccias then pumice breccia and terminated in dacites. Low level base metal mineralisation occurred through the pumice breccias.
Hole CWRC002 100m south tested the down dip extension of the surface geochemical trend below CWRC003. Mineralisation was intersected within rhyodacite above the pumice breccia unit. The strongly zinc dominated intersection is open to the east, west and down dip. And offers a great opportunity for further targeting.
Results from the drilling at Cougartown West (Table 2).
Table 2: Cougartown West Prospect Results
Hole ID
From
To
Intersection
Au
Cu%
Pb%
Zn%
Ag
Zn Eq.
Oxidation
(m)
(m)
(m)*
g/t
g/t
%
Sate
CWRC001
87.0
92.0
5.0
0.01
0.03
0.59
1.09
2.4
1.81
Sulphide
CWRC002
67.0
107.0
40.0
0.02
0.06
0.16
2.53
0.6
2.97
Sulphide
CWRC003
75.0
76.0
1.0
0.00
0.00
0.01
3.64
0.0
3.67
Sulphide
CWRC004
72.0
73.0
1.0
0.00
0.00
0.00
1.63
0.3
1.63
Sulphide
*Downhole width (1% Zn Eq cut off)
Address: Level 6, 350 Collins Street, Melbourne, VIC, 3000, Australia
T: +61 3 9017 5380 F: +61 3 9670 5942 W: www.redriverresources.com.au
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Red River Resources Limited published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 21:35:12 UTC.