Red River Resources Limited

Published : June 27th, 2008

Significant Magnetite Mineralisation Intersected at Blythe Project, Tasmania

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Keywords :   Iron | Market | Tasmania | Tungsten |

Red River Resources Limited (ASX:RVR)

 

ASX RELEASE                                                       27 JUNE 2008

 

SIGNIFICANT MAGNETITE MINERALISATION INTERSECTED AT BLYTHE

PROJECT, TASMANIA

 

Red River Resources Limited (ASX:RVR) is pleased to advise that its 50:50 Joint Venture partner, Iron Mountain Mining Limited (ASX:IRM), has reported encouraging preliminary results from the recently commenced drilling program Blythe Project area, located 30km south of Burnie in northern Tasmania.

 

Iron Mountain has reported that geological logging of samples from the current Reverse Circulation (RC) drilling has indicated significant drill intersections of magnetite iron ore mineralisation.

 

The intersections are up to 40 metres long and include massive to semi-massive to heavily disseminated magnetite mineralisation. Most intersections start from within a few metres of the surface.

 

The Blythe Project is located near the Kara magnetite/tungsten mine. Iron Mountain commenced a program of Reverse Circulation at the Project in late May targeting up to six target areas for magnetite mineralisation.

 

The drilling program has comprised 27 drill holes to date for a total of 1,229 metres. No analytical results have been received as yet and further drilling is required before the geometry of the mineralised zones can be properly delineated. Calculation of JORC Code compliant mineralised resources will require receipt of analytical data as well as the results of further drilling.

 

The joint venture partners are very encouraged by these preliminary results, with the intersections of magnetite mineralization demonstrating a very close correlation with the magnetic highs indicated by aeromagnetic surveys and confirmed by ground magnetics.

 

The Blythe Project area contains numerous other magnetic highs which the joint venture plans to drill over the next few months. All of these highs are close to the Emu Bay railway line which traverses the project area and connects western Tasmania with the port at Burnie, 30 km to the north. The joint venture understands that there is a potential market niche for the transport of magnetite fines through Burnie Port.

 

J Karajas

Managing Director 27 June 2008

The information within this report as it relates to geology and mineral resources was compiled by the Managing Director Mr John Karajas. Mr Karajas is a Member of the Australian Institute of Geoscientists. Mr. Karajas has sufficient experience which is relevant to the style of mineralization and the type of deposit under consideration to qualify as a Competent Person as defined in the 2004 Edition of the ?Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code?. Mr Karajas consents to the inclusion in the report of the matters based on information in the form and context which it appears.

 

 

READ CORPORATE
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T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

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Data and Statistics for these countries : Tasmania | All
Gold and Silver Prices for these countries : Tasmania | All

Red River Resources Limited

EXPLORATION STAGE
CODE : RVR.AX
ISIN : AU000000RVR7
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Red River Res. is a silver and gold exploration company based in Australia.

Its main exploration properties are WONGAN HILLS, BLYTHE, MIAREE and EAST KIRUP in Australia.

Red River Res. is listed in Australia. Its market capitalisation is AU$ 68.5 millions as of today (US$ 49.4 millions, € 43.3 millions).

Its stock quote reached its lowest recent point on April 04, 2014 at AU$ 0.01, and its highest recent level on February 02, 2018 at AU$ 0.41.

Red River Res. has 472 109 984 shares outstanding.

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Project news of Red River Resources Limited
6/27/2008(Blythe)Significant Magnetite Mineralisation Intersected at Blythe P...
Corporate news of Red River Resources Limited
7/29/2008June Quarterly Report
5/29/2008Project Update: Drilling Underway at Blythe Project, Tasmani...
4/28/2008Quarterly Activities Report
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