Red River Resources acquired the Thalanga Base Metal Operation (Thalanga) from Kagara Ltd. in 2014. Red River commenced mining operations at the West 45 UG polymetallic high-grade massive sulphide deposit in April 2017, and the Thalanga Mill commenced processing the West 45 ore to produce separate copper, lead and zinc concentrates in September 2017.

Red River announced a maiden JORC Resource for the polymetallic high-grade massive sulphide deposit at Far West in January 2015 and the first ore from the Far West UG mine was processed through the Thalanga Mill in March 2019. Red River ceased production at West 45 in February 2020 (ore body mined out) and Far West will be the main source of ore for the Thalanga Mill until the Liontown Project is developed.

Operations

Thalanga consists of a 650ktpa capacity milling facility which produces separate copper, lead and zinc concentrates.

Key Equipment Includes:

·         Primary and secondary crushing circuits;

·         Fine ore feed bin;

·         Grinding facilities consisting of three balls mills;

·         Conventional sequential froth flotation circuits producing copper, lead and zinc concentrate;

·         Concentrate dewatering and filtering circuits;

·         Administration buildings, exploration offices, core yard and an assay laboratory;

·         On site UG offices and change rooms (Far West UG operation); and

·         Equipment workshops and stores for all mobile and fixed plant maintenance.

Power at Thalanga is supplied by a 66kV connection to the Queensland power grid. The site water requirements are supplied from on site water storages and recycling water used in the processing plant. Thalanga also sources additional water from a bore field.

Concentrate Logistics

Thalanga produces high quality copper, lead and zinc concentrates with material precious metal (gold and silver) credits.

The copper concentrate is sold under an offtake agreement to Glencore, who take ownership of the concentrate at the Thalanga mine gate. The lead and zinc concentrates are sold under an offtake agreement to Trafigura, who take ownership of the concentrates in the Port of Townsville.

Base metal concentrates being loaded at Thalanga

Thalanga Operational Life

Thalanga currently has an estimated operational life of approximately 10 years based on the Far West UG operation and the Liontown Project.

Far West is an UG mechanised mine with an estimated mine life of 5 years+. Far West has a current Ore Reserve of 1.4Mt @ 1.4% Cu, 1.7% Pb, 5.1% Zn, 0.3 g/t Au & 49 g/t Ag (12.6% Zn Eq.) and a Mineral Resource of 1.7Mt @ 1.6% Cu, 2.2% Pb, 6.4% Zn, 0.3 g/t Au & 61 g/t Ag (15.3% Zn Eq.)

The Liontown Project has a current Mineral Resource of 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1 g/t Au & 29 g/t Ag (12.7% Zn Eq.) Liontown has a high grade gold component (1.1 g/t Au, 152koz Au contained).

Red River is currently developing Liontown as Red River’s 3rd mine at Thalanga. Liontown will be an open pit / UG mine with a conceptual mine life of 10+ years

Liontown Project Location