Red 5 has conducted underground drilling at the Kind of the Hills (KOTH) gold mine, which has delivered positive results by defining current ore reserves that underpin the company’s 2024 financial year (FY24) mine plan.
The drilling results have built off the four consecutive months of record gold production at the KOTH mine.
During the June 2023 quarter, the KOTH mine produced 61,705 ounces of gold, a significant increase from the 40,869 ounces produced in the March 2023 quarter.
Between January 1 and June 30, underground diamond drilling programs equalled to 19,196 metres, with significant assay results recorded across the KOTH mine’s key mining areas, such as the regal area, the eastern flanks area, the west bulk area, and the central area.
Red 5 said the results recorded indicate potential to deliver mine life extensions at the KOTH mine within the regal and eastern flank mining areas.
“Our underground drilling programs are continuing to confirm the robust nature of the King of the Hills resource and reserve models with these latest results from grade control and resource extension drilling supporting our mine plan over the next 12 months and defining extensions of the key regal, eastern flank and west bulk mining areas,” Red 5 managing director Mark Williams said.
“Over the last 12 months, drilling has covered 85 per cent of the FY24 mine plan, providing strong confidence for mining in the year ahead.
“Despite the enormous amount of drilling completed to date, large sections of the King of the Hills orebody remains relatively undrilled, and we see potential to continue expanding the existing resource and reserve inventory to further extend the current mine life.”