Red 5 adds to King of the Hills resource
PERTH (miningweekly.com) – Junior Red 5 has reported an update to the King of the Hills mineral resource, which now stands at 4.1-million ounces.
The indicated and inferred resource at King of the Hills is now estimated at 90.7-million tonnes, grading 1.4 g/t gold, for 4.07-milllion ounces of contained gold, with more than 3-million of these ounces classified as indicated.
“This updated mineral resource provides an exceptional base from which to complete our final feasibility study for the bulk openpit and underground mine and standalone process plant operation at King of the Hills,” said Red 5 MD Mark Williams.
“Our resource development programmes over the past 12 months have added significantly to our global resource, bringing it to over four-million ounces of contained gold and confirming King of the Hills’ status as one of Australia’s premier emerging gold projects.”
The updated mineral resource estimate is based on a A$2 100/oz optimised pit shell. Using a A$1 800/oz pit shell, the new resource model would generate a 21% increase in ounces compared with the previous mineral resource estimate.
“The updated mineral resource model has seen a 69% increase in the openpit component of the mineral resource. We are now looking at a very large-scale openpit mining operation at King of the Hills, with a significant portion of the previous underground resource now captured within an expanded pit shell.”
Williams said that based on the updated resource model, Red 5 would continue to forge ahead with the final component of the bulk mining feasibility study, including mining and engineering studies, and an updated ore reserve.
The final feasibility study is scheduled for the September quarter of this year.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
