Red River Resources Limited (ASX:RVR) Major Tin Potential Indicated At The Kara North Magnetite Deposit, Northern Tasmania

Red River Resources Limited (ASX:RVR) are delighted to announce the discovery of significant tin mineralisation from recent drilling at the Kara North Prospect south of the port of Burnie in northern Tasmania.

In collaboration with 50:50 Joint Venture partner Iron Mountain Mining Limited (ASX:IRM) the company carried out a screening survey of RC cuttings from the Kara North Prospect, utilising a Niton XRF field analyser, during January 2009. As a consequence, over 570 new samples were submitted for XRF analysis for tin and iron. The laboratory results have substantially increased the number of +0.1% Sn intersections encountered by the Kara North drilling and include 41m @ 0.22% Sn in drill hole KNRC 036 as well as 51m @ 0.15% Sn in KNRC 021.

The prospect area is located 27 kilometres south of Burnie Port and is 7 kilometres away from the railway line connecting western Tasmania with Burnie. Burnie contains a stable work force with a strong mining culture as well as large workshops and is therefore an excellent base for a potential mining operation at Kara North.

Mineralisation encountered by the drilling extends 900 metres in a north-south direction and is up to 400m wide.

The structural geology of the Prospect area, particularly on its western flank, has yet to be properly delineated. To this end, the JV partners commenced a diamond drilling program on 5 March 2009 designed to address this important deficiency in the evaluation of the Kara North mineralised system. Initially, four diamond drill holes are planned for a total of 700m of drilling.

About Red River Resources Limited

Red River Resources (ASX:RVR) is a diversified mineral explorer currently (late 2009) focusing on gold and also exploring for copper, nickel, tin, magnetite iron ore, tantalum and lithium.

Red River's current projects include; Miaree, Karratha area, Western Australia (Iron Mountain Mining JV): gold. Wongan Hills, Mid West Region, Western Australia (Operator Dominion Mining, Iron Mountain Mining JV partner): gold, copper. Blythe, Burnie area, Tasmania (Iron Mountain Mining JV): magnetite iron ore, tin, tungsten. Hooley Well/Imagi Well, Mid West region, Western Australia (Eagle Nickel JV): nickel. East Kirup, southwest Western Australia (Operator Dunvegan Resources): lithium, tantalite, tin.

 

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