Hillgrove Gold Ltd, page-2

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mwilson25

2,649 Posts.

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17/09/19

13:06

Post #: 40450979
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Originally posted by VYR: ↑

It looks like the mine that put Hillgrove in the Hillgrove Resources LTD name might possibly have some potential in this day and age of high tech prospecting, mining and processing.

Hillgrove Gold Ltd "HGO" swapped that mine for a few mining leases in NSW when the company was emerging from receivership in 2003. Others have since spent some $180m on infrastructure at the Hillgrove mine and RVR picked it up for $4m in shares ( equal to the cash tied up in bonding ) in April.

Leaving it behind HGO went on to commit to expenditure of $475K to farm into a big share in Kanmantoo in 2003 . Which was the beginning of the journey to where we are today.

Back to the Hillgrove Mine. An announcement today contained this,

"Red River Resources Limited (ASX: RVR) is pleased to report high-grade sampling results from the Becks Point area, part of the Company’s Hillgrove Gold-Antimony Project in New South Wales.The Hillgrove Project is located 30km from Armidale in New South Wales. The site includes a 250ktpa capacity processing plant currently on active care & maintenance, comprising a selective flotation circuit (capable of producing antimony-gold and refractory gold concentrates), an antimony leach/electrowinning (EW)/refining & casting plant, a gold cyanide leach circuit & gold room and a pressure oxidation circuit."

There are also some old stockpiles from the early days of hand mining and hand sorting. Interestingly if the sorters couldn't see any gold in the rock it was thrown on the stock pile.

49g/t WOW!!! And catching huge fish was a breeze also in those days. There was a lot going for folks back then. The out house and the dirt floors weren't too flash though and only one horse power unless you could afford a cart.

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Tempting to dip ones toe in the water.

If a UG is possible at Kanmantoo, which you would think it would since there was a UG there in the past, we may have all have a nice lot of funds requiring an investment with good potential.

$4m for the plant - far out. I certainly hope ours is worth a decent amount.

HGO Price at posting: 6.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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