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Redcastle Resources Limited ( (AU:RC1) ) has shared an announcement.
Redcastle Resources Limited has announced a significant increase in its Mineral Resource Estimates (MRE) to 42,000 ounces of gold, following a successful Reverse Circulation drilling program at its Queen Alexandra and Redcastle Reef deposits. This marks a 280% increase from its previous estimates and supports the company’s strategy to transition into an integrated exploration and production gold company. The close proximity of the deposits offers potential for co-development, which could lead to cost savings and operational efficiencies. The company is also progressing with an independent scoping study to evaluate further resource growth and development opportunities, aiming for near-term production and long-term value creation.
More about Redcastle Resources Limited
Redcastle Resources Limited is a company operating in the mining industry, focusing on exploration and production of gold. The company is involved in developing its assets in the Eastern Goldfields region, with a market focus on expanding its gold production capabilities.
Average Trading Volume: 892,766
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$5.95M
See more insights into RC1 stock on TipRanks’ Stock Analysis page.