Redcastle Resources’ latest assays confirm expanded high-grade gold mineralisation at the Kestrel Lode and significant deep mineralisation at Redcastle Reef, underpinning upcoming resource updates and advancing development plans.
- Higher-grade, shallow gold mineralisation expanded at Queen Alexandra’s Kestrel Lode
- 73% of drill holes intercepted >1 g/t Au, with 40 holes exceeding 2 g/t Au
- Deep gold mineralisation confirmed at Redcastle Reef, supporting satellite development potential
- Updated Mineral Resource Estimate for Queen Alexandra scheduled for June 2025
- Plans underway for maiden JORC resource at Redcastle Reef and early-stage open pit scoping studies
Expanding the Kestrel Lode’s Footprint
Redcastle Resources Limited (ASX: RC1) has released assay results from the final phase of its 2025 Reverse Circulation (RC) drilling program at its flagship Queen Alexandra and Redcastle Reef prospects in Western Australia’s Eastern Goldfields. The results notably expand the areal extent of the Kestrel Lode at Queen Alexandra, confirming higher-grade, near-surface gold mineralisation predominantly within the oxidised profile.
The drilling campaign, completed safely and under budget, delivered 19 RC holes totalling 1,853 metres focused on refining the geometry and grade of the Kestrel Lode. Impressively, 73% of the 70 total drill holes into the lode intercepted mineralisation exceeding 1 g/t Au, with 40 holes averaging above 2 g/t Au. Highlight intercepts include 2 metres at 7.80 g/t Au from 66 metres and 6 metres at 2.70 g/t Au from 36 metres, reinforcing the lode’s potential as an early cashflow open pit target.
Confidence in Geological Continuity and Open Pit Potential
The increased drilling density has materially improved confidence in predicting the Kestrel Lode’s geometry, with geological markers now reliably correlated across much of the prospect. The lode’s lateral width is estimated at approximately 150 metres and remains open along strike, enhancing flexibility for open pit design and potential scale.
Importantly, mineralisation extends from just 6 metres below surface and includes a significant proportion of oxidised material amenable to extraction and processing via existing third-party plants in the district. This positions the Kestrel Lode as a promising candidate for a less capital-intensive, early-stage open pit mining operation, with bulk sampling and metallurgical studies planned to underpin further development.
Redcastle Reef: Deep Mineralisation and Satellite Development Prospects
At the nearby Redcastle Reef prospect, three RC holes tested the eastern plunge extension of mineralisation, confirming significant gold intercepts at depths between 75 and 107 metres. Notable results include 16 metres at 1.20 g/t Au from 84 metres and 1 metre at 7.42 g/t Au from 107 metres. These deeper intercepts suggest fresh-rock sulphide-hosted gold mineralisation remains largely unexploited below historical workings.
The proximity of Redcastle Reef, just 700 metres from Queen Alexandra, supports its potential role as a satellite operation, which could optimise mining efficiency and project economics through shared infrastructure and processing.
Upcoming Resource Updates and Development Pathway
Redcastle Resources is preparing an updated JORC-compliant Mineral Resource Estimate (MRE) for Queen Alexandra, scheduled for release in June 2025, incorporating the comprehensive 2025 assay dataset. Concurrently, the company will commence preparation of a maiden JORC MRE for Redcastle Reef.
These resource updates will form the foundation for advancing scoping studies and bulk sampling programs aimed at metallurgical and processing evaluations. The company envisions leveraging third-party processing capacity within the district to facilitate a capital-efficient open pit mining operation targeting near-surface, high-grade gold mineralisation.
Chairman Ray Shaw expressed enthusiasm about the drilling results, highlighting the genuine opportunity the Kestrel Lode presents for early cashflow and longer-term development. The company’s strategic focus is now on translating these geological advances into tangible project milestones and economic outcomes.
Bottom Line?
With resource updates imminent and early-stage open pit plans advancing, Redcastle Resources is poised to unlock significant value from its expanding gold assets.
Questions in the middle?
- How will the updated Mineral Resource Estimates impact Redcastle’s valuation and project timelines?
- What metallurgical recovery rates and processing costs can be expected from the near-surface oxidised material?
- Could Redcastle Reef’s deep mineralisation materially enhance the scale and economics of the overall project?