"LITHIUM DRILLING PLANNED FOR EAST KIRUP HIGHLIGHTS East Kirup lithium-tantalite-tin geochemical anomaly lies 20km north-northwest on structural geological trend from the world class Greenbushes lithium-tantalite-tin mine. East Kirup anomaly is 4km long by up to 1.5km wide. Red River Resources plans to drill test the anomaly with a 6,000m Air Core program scheduled to occur in February-March 2010. Subsequent to the termination of the joint venture with Ord River Diamonds, 100% ownership of the East Kirup lithium-tantalite-tin exploration prospect has reverted to Red River Resources Limited (ASX Code:RVR, “Red River”). As a consequence Red River is now planning to carry out a 6,000m program at East Kirup during February-March 2010. The East Kirup prospect is a lithium-tantalum-tin geochemical anomaly 4km long by up to 1.5km wide that occurs in E70/2435 and which is situated 20km north-northwestward on structural geological trend from the Greenbushes lithium-tantalite-tin mine. The Greenbushes mine is a world class deposit that contains Total Measured, Indicated and Inferred Resources of 25.2 million tonnes of 3.6% Li2O (Talison Lithium Prospectus, 2009) as well as substantial associated tantalite-tin mineralisation. The locations of East Kirup and Greenbushes are shown in Figure 1. Geochemical sampling carried out by Red River has delineated widespread geochemically anomalous lithium, tantalite and tin over the East Kirup prospect area (see Figures 2 & 3) which is interpreted as a mineralised halo over better mineralisation at depth. The forthcoming drill program is designed to test that concept and is likely to be followed by a program of deeper drilling."
RVR Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
