King of the Hills

King of the Hills is rapidly emerging as one of Australia’s premier long-life, low-cost gold projects.

To date, Red 5 has defined a bulk mining Mineral Resource of 4.1Moz of contained gold at King of the Hills, with exploration programs currently focused on expanding this bulk mining Resource, as well as defining potential open pit deposits that could provide early mill feed and cash flow while the Company establishes access to the proposed bulk open pit.

Expanding the bulk Mineral Resource

The bulk mining opportunity at King of the Hills centres on a major granodiorite intrusion known as the Tarmoola Granodiorite. Gold is predominantly hosted along the contact zone where the granodiorite meets the surrounding ultramafic and volcanoclastic sequence.

However to date, only a small portion of the contact zone has been tested. The granodiorite/ultramafic contact zone extends almost 12km around the granodiorite, with the potential to host gold mineralisation outside of the existing Resource area. Mineralisation within the Resource currently remains open in all directions.

Key focus areas outside the main mining fronts include:

  • Following mineralisation down the nose to the North around the contact;
  • Below the Bulk Resource under the southern end of the open pit;
  • The NW corner of granodiorite contact;
  • The southern end of contact proximal to the Ursus Shear; and
  • Regional satellite deposits not currently included in the Resource Inventory for the KOTH project.

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Regional Exploration Targets

Beyond the bounds of the granodiorite contact, Red 5 has an extensive suite of regional exploration targets at King of the Hills. The Company has a current Satellite Open Pit Resource base totalling 114,900oz for the Rainbow and Severn deposits (see ASX Announcement dated 1 May 2019)

New and updated exploration data layers have increased confidence for effective targeting outside of the mine area, with integrated datasets identifying priority targets along the Tarmoola and Ursus Fault corridors.

A key exploration target is the high-priority Centauri and Cerebus-Eclipse prospects, which have the potential to combine to form a single target with a strike length of 4km.

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