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Red Hill Iron Limited ( (AU:RHI) ) has shared an announcement.
Red Hill Minerals reported initial results from its maiden diamond drilling program at the Anabama Copper-Gold Project in South Australia, part of its Curnamona Earn-In Joint Venture with Peel Mining. Assays from the first diamond hole (25ANDD001) confirm copper-gold mineralisation in fresh bedrock along the Anabama-Redan Shear Zone and extend known mineralisation 130 metres below the bottom of a key historic drillhole, with notable intercepts including 20 metres at 0.6% copper, 0.2 g/t gold and 3.0 g/t silver from 313.1 metres, and higher-grade internal intervals up to 1.2% copper. Results from a second drillhole are pending and downhole electromagnetic surveys are planned for both holes, indicating continued exploration momentum that could further define the scale and continuity of the mineral system and potentially enhance the project’s development prospects.
The most recent analyst rating on (AU:RHI) stock is a Hold with a A$5.50 price target. To see the full list of analyst forecasts on Red Hill Iron Limited stock, see the AU:RHI Stock Forecast page.
More about Red Hill Iron Limited
Red Hill Minerals Limited is an Australian exploration company listed on the ASX that focuses on discovering and developing copper and gold resources, including projects within the Curnamona region of South Australia through an earn-in joint venture with Peel Mining Limited.
Average Trading Volume: 29,261
Technical Sentiment Signal: Buy
Current Market Cap: A$316.1M
For a thorough assessment of RHI stock, go to TipRanks’ Stock Analysis page.