RED RIVER RESOURCES LIMITED - ASX: RVR

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Description

Red River Resources is a diversified mineral explorer currently (late 2009) focusing on gold and also exploring for copper, nickel, tin, magnetite iron ore, tantalum and lithium. Active projects are as follows:

Miaree

The Miaree area contains the Miaree Magnetite Trend, which is an exploration target of up to 1-2 billion tonnes of magnetite-bearing rock. This prospective zone has very similar magnetic field strength to the nearby Balmoral and Cape Lambert magnetite deposits, which contain recoverable grades of 40-45% magnetite. As there is a very close correlation between magnetic intensity and magnetite content, it is likely that portions of the Miaree Magnetite Trend contain similar magnetite contents. This has to be confirmed by drilling. The area also holds potential for the delineation of direct shipping grade hematite deposits. Red River has entered into an agreement where, subject to preparation of an independent experts report and subsequent approval by shareholders, Iron Mountain Mining Limited can earn 70% equity in the project area (and in Wongan Hills) by the expenditure of $4.75 million.

The area is well served by infrastructure being close to the coast, the North West Coastal Highway, the Dampier to Bunbury gas Pipeline, electricity and also, the town of Karratha.

Blythe River Project

This project area near the port of Burnie in northern Tasmania contains iron ore prospects, both hematite and magnetite, and copper mineralisation and is also prospective for gold, zinc and tungsten. The focus for late 2007-2008 will be on its iron ore potential. Red River holds 50% of this project and is in Joint Venture with Iron Mountain Mining Limited.

Wongan Hills

This area, together with the Miaree area near Karratha, is part of the proposed Joint Venture with Iron Mountain Mining Limited which, subject to preparation of an independent experts report and approval by shareholders, can spend $4.75 million to earn 70% in the two project areas. The Wongan Hills contains banded iron formation and is prospective for the discovery of direct shipping grade hematite ore (DSO).

East Kirup

East Kirup is on structural geological trend with Greenbushes, the world’s largest known repository of tantalite ore as well as tin and lithium. Exploration work in the south western part of E70/2435 by Red River has delineated a 4 kilometre long zone, the “East Kirup Shear”, of elevated tantalite, tin and niobium values. Further exploration work has an excellent chance of leading to a discovery of Greenbushes-style mineralisation.

Mine For

iron ore, uranium, copper, silver, nickel, Platinum group metals, tantalum, Tin, Lithium

Location of operation(s)

Western Australia, Northern Territory, Tasmania

Address

Unit 29 , 44 Kings Park Road
WEST PERTH, WA, AUSTRALIA

Phone

(08) 6263 4477

Email

Website

http://www.redriverresources.com.au

Last Updated

22/03/2008