Red 5 is an active gold explorer, with more than 54,000 metres of drilling scheduled for FY22. In FY20 and FY21, 186,000 meters were drilled that contributed to the establishment of the 4.1Moz Mineral Resource at King of the Hills.
These drilling programs are collectively aimed at establishing two separate, long-life mining and processing hubs in Western Australia’s Eastern Goldfields – one at Darlot and one at King of the Hills.
Red 5 has a combined granted tenement footprint of 2,8 km2 in Western Australia’s Eastern Goldfields (including 423km2 under application), giving the Company a commanding position in this world-class gold district and an exceptionally strong growth pipeline of exploration projects.
The Darlot mine site has a 0.83Mtpa gold processing plant located on-site, which is currently operating at a throughput rate of 1.00Mtpa.
Red 5 is committed to expanding its Reserve base, both at Darlot and at deposits within economic trucking distance of the Darlot mill, so that production will be maintained with no ongoing contribution of ore from King of the Hills. Read more about our exploration at Darlot here.
At King of the Hills, Red 5 is constructing a stand-alone $226 million bulk mining and processing operation on site. Drilling programs are aimed at Resource expansion and increased confidence, together with defining satellite open pits that could provide early, low-cost oxide mill feed and cash flow while access to the proposed bulk open pit is established. Read more about our exploration at King of the Hills here.
Red 5 has developed an outstanding pipeline of exploration targets at both Darlot and King of the Hills that offer significant potential for long-term Resource and Reserve growth.