RED – RED 5 MAIDEN RESOURCE FOR KING OF THE HILLS 1.45M OUNCES GOLD

Red 5 recently announced a maiden Gold resource for their King of the Hills Project with a pre-feasibility confirming the potential for a 10 year open cut mining operation delivering an annual life of mine production rate of 140,000 ounces per year, at an average AISC of $A1,167 an ounce. That’s pretty impressive for an all in cost for these days. With the cost of getting the yellow metal out of the ground and into yellow shining bar the forecast is very bullish. One thing is for sure the price of Gold is going to rise as years go on. That’s one forecast you can bet on.

The Company has also forecast a potential for a future inclusion of 1.1m ounce under ground resource, from regional oxide deposits and from ongoing exploration in addition to the recently announced 1.45m ounce model.

The resource and forecast by RED 5, is based on a Probable Ore Reserve for the King Of The Hills Gold Project open pit of 35mt @ 1.25g/t Au.

The Pre-feasibility forecasts are also based on the Company constructing a 4 million tonne per annum, Carbon in Leach processing facility at the project.

Goldman

Read Previous

THE RISE AND RISE OF GOLD IS AS SURE AS THE SUN WILL RISE TOMORROW

Read Next

KIN – KIN MINING DELIVERS POSITIVE NUMBERS ON PRE-FEASIBILITY STUDY FOR CARDINIA PROJECT

Leave a Reply

Your email address will not be published. Required fields are marked *