RVR 3.85% 25.0¢ red river resources limited

potentially bigger than gindalbie

  1. 296 Posts.
    AEROMAGNETIC SURVEY INDICATES SUBSTANTIAL
    MAGNETITE POTENTIAL, FERAL PROSPECT, MID WEST REGION,
    WESTERN AUSTRALIA


    Red River Resources Limited (ASX: RVR “Red River”) is pleased to announce that a recently completed
    aeromagnetic survey over E70/227, the Feral Prospect, has indicated substantial magnetite potential within the
    tenement. The aeromagnetic data is displayed in Figure 1 and indicates that the permit area contains highly
    magnetic banded iron formation, averaging a total width of 600 metres, over a strike length of 20 kilometres. In
    surface expression and aeromagnetic field strength, the Feral prospect area is very similar to other nearby banded
    iron formation hosted magnetite deposits such as the Karara magnetite deposit 40 kilometres to the east.

    The area will require drilling to delineate mineralised resources as defined by the JORC code. As a guide to what
    may eventuate, Gindalbie Metals Limited has published an Inferred Resource of 737 million tonnes at 37.1% Fe
    for the Karara deposit. The published resource occurs over a strike length of 8 kilometres.


    Displayed on Figure 1 are also the locations of hematite enrichments discovered as a result of surface rock chip
    sampling over the last three months. The aeromagnetic data also provides valuable information on the setting of
    these deposits, details on which are provided in Appendix 1.
 
watchlist Created with Sketch. Add RVR (ASX) to my watchlist
(20min delay)
Last
25.0¢
Change
-0.010(3.85%)
Mkt cap ! $129.4M
Open High Low Value Volume
25.5¢ 26.5¢ 25.0¢ $379.5K 1.469M

Buyers (Bids)

No. Vol. Price($)
7 460181 25.0¢
 

Sellers (Offers)

Price($) Vol. No.
25.5¢ 89673 3
View Market Depth
Last trade - 16.10pm 26/02/2021 (20 minute delay) ?
(live)
Last
25.0¢
  Change
-0.010 ( 3.85 %)
Open High Low Volume
25.0¢ 25.5¢ 25.0¢ 19254
Last updated 15.59pm 26/02/2021 (live) ?
RVR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.