Redhill Resources (CVE:RHR) announced Wednesday that it has extended the strike length of its Deflector Deposit to a total of 800 metres, after recent drill results at its Gullewa copper-gold Project in Australia expanded known mineralization area by 60 metres.
The Gullewa project is operated by Mutiny Gold, after being optioned to the company in July 2010.
The results from the first 15 holes of Redhill's ongoing reverse circulation drill program, designed to delineate southern extensions to the Deflector deposit, returned 8 metres at 3.0g/t gold and 0.9% copper in hole 11DRC038 and 3.0 metres at 5.7 g/t gold and 0.4% copper in hole 11DRC036.
Other notable results included 3.0 metres at 6.7 g/t gold and 1.0% copper in hole 11DRC040; and one metre at 3.6 g/t gold and 5.8% copper in hole 11DRC042, among other positive finds.
Each hole was drilled on three lines immediately to the south of the known West Lode mineralization, extending the strike length by 60 metres.
The company said the results will be included into a revised resource estimate, to be carried out once drill programs are concluded.
The Gullewa project is located about 450 kilometres north of Perth, Australia, and hosts several gold deposits, varying in size and grade.
The most significant is the Deflector gold-copper deposit, which has estimated measured and indicated resources of 1.7 million tonnes measuring 4.18 g/t of gold, 6.87 g/t of silver and 1.03 g/t of copper, and estimated inferred resources of 1.6 million tonnes measuring 6.50 g/t of gold, 3.41 g/t of silver and 0.48 g/t of copper.
A surface geochemical mapping program is underway at the Deflector Deposit to improve the targeting of drilling programs. Redhill said further drilling in the area will focus on historical data, as the program targets geological anomalies in fresh rock.
Redhill's positive drill results prompted its stock on the TSX Venture Exchange to hike up 5.88% on Wednesday afternoon to trade at $0.90 per share.