Decline is scheduled to start in Q1 2019, to advance to the 90m vertical depth and ore production. Far west development is on track to increase Thalanga production and will augment West 45 ore. To extend upper levels of Far West recent drilling has indicated a lot of potentials. Far West has a current JORC Reserve of 1.5Mt @ 12.0% zinc equivalent and a mine life to 2025. The highlights of the drill include TH854: 13.45m, TH844: 3.30m, TH845: 4.95m and TH855: 4.00m.
More than 660m of lateral development has been completed in Far West to date, including 552m of total decline development. The decline is currently at the 920 ore drive cross-cut access and 90m vertical depth. To site to commence the Far West return air rise the raise-borer has been mobilized and second means of egress with completion and ventilation fan installation expected in the March quarter of 2019.
With the drill rig standing down for the wet season, the current Far West drilling program has been completed. Completed for a total of 1,568 meters this program consisted of 11 holes. To the Far West mineralization outside of the currently designed stopping blocks, the program objective was to target extensions.
The drilling results to commence after the wet season in early 2019, confirm that the orebody is not closed off and further drilling is planned to target further extensions of the high-grade mineralization in TH854 and TH855. The results also received indicate the potential to extend planned ore drives and possibly add a level(s) above.
Red River Resources Limited (ASX: RVR) traded at a market price of $0.165 after opening at $0.170 on December 11, 2018; the stock is trading near its 52-week low. However, the stock has seen a performance change of -34.62% over the past twelve months period. The current market capitalization stands at $80.84 million as of today.
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