Red River Resources has increased its gold resource at the Hillgrove gold project in New South Wales ahead of its production restart later this year.
The project’s contained gold has increased by 46 per cent, from 459,000 tonnes to 668,000 tonnes of gold.
The Hillgrove gold project also has an updated joint ore reserves committee (JORC) 2012 compliant mineral resource of 4.75 million tonnes at 4.4 grams of gold per tonne, and 1.6 per cent antimony.
Red River has stated it is “on track” to resume gold production at Hillgrove by the end of the 2020 calendar year.
Initial production will use the Bakers Creek stockpile, with underground mining operations expected to restart by mid to late 2021.
Red River acquired the Hillgrove gold project from a private vendor in August 2019, who previously placed the project on care & maintenance at the end of 2014 due to low commodity prices at the time.
Modern mining operations began at Hillgrove In 1969, and has since produced more than 730,00 ounces of gold and over 50,000 tonnes of antimony.
Red River has estimated that over $200 million has been invested in the Hillgrove gold project since 2004, including a 250 thousand tonne per annum processing plant, which can produce saleable gold and gold-antimony concentrates.