Red River Resources (RVR.AX) has started processing ore at its Hillgrove gold operation. The first rock was delivered to the ROM pad right before Christmas, and the processing plant has been ramping up production since about a week. The proof of the pudding will be in the eating and although the Hillgrove gold mine has a rich history producing in excess of 700,000 ounces of gold and 50,000 tonnes of antimony, it will be interesting to see if Red River’s production will confirm the existing resource of almost 700,000 ounces of gold and 75,000 tonnes of antimony throughout all categories.
Looking at just the measured and indicated resource, the rock containing the 406,000 ounces of gold has an average gold grade exceeding 4.5 g/t while the antimony grade is just over 1.8%, re-establishing the element as a potentially viable by-product credit.
Disclosure: The author has no position in Red River at this time. Please read our disclaimer.
