Thalanga: a high-grade polymetallic investment opportunity in North Queensland

Indicative offers are sought by Wednesday, 30 November 2022

Argonaut PCF has been appointed by Cromarty Resources Pty Ltd (Administrators Appointed) (Cromarty), a wholly owned subsidiary of Red River Resources Limited (Red River or the Company) (ASX: RVR), to seek Expressions of Interest for the Thalanga Base Metals Operation located approximately 65km southwest of Charters Towers in Queensland (Thalanga or the Project) (the Sale Process).

The Thalanga Operation comprises the following key assets:

  • A JORC (2012) Mineral Resource of 6.0Mt @ 13.6% ZnEq and Ore Reserve of 0.4Mt @ 10.4% ZnEq;
  • 650ktpa polymetallic processing facility, capable of producing separate copper, lead and zinc concentrates and includes a gravity circuit for gold;
  • Tailings storage facility; and
  • Site offices, workshops and change facilities.

In FY2022, Red River processed 333kt of ore and produced 23.2kt of zinc, 5.6kt of lead and 12.1kt of copper concentrates at the Project.

The Sale Process also includes tenements in the Atherton-Herberton region including the Orient West (tenements EPM 27731 (Wade Creek), EPM 27168 (Herberton) and EPM 27223 (Orient)) and Isobel (tenement EPM 27221) Projects. Orient West and Isobel both include historical (non-JORC) mineral resources containing Zn, Pb, Ag & In (Indium).