Redcastle Resources Ltd recommences drilling at Queen Alexandra prospect

Redcastle Resources Ltd (ASX: $RC1) has commenced a fully funded, follow-up diamond drill programme at the high-grade gold prospect, Queen Alexandra. The programme, which began on 28 May 2024 as scheduled, aims to drill 3 holes initially, with the option for up to 2 additional holes based on results and correlation with previous geochemical surface sampling. The drilling will target possible stacked lodes and extensions of previous drilling at depth to the north and along strike to the southeast, as well as confirming the orientation of known mineralisation. Previous results at Queen Alexandra include 1m @ 27.6g/t from 44m and 3m @ 12.51g/t from 17m, including 1m @ 25.7g/t from 17m. The diamond drilling programme is expected to last 6 weeks and is located in the heart of the WA goldfields, positioning Queen Alexandra as a potential near term development opportunity with the current gold price at over A$3,500 per ounce.

Executive Commentary

The diamond drilling programme at Queen Alexandra represents a significant step forward for Redcastle Resources Ltd. We are excited to confirm the orientation of structures used in the Mineral Resource geological interpretation and to test for multiple stacked lodes at depth. The potential for a near term development opportunity at Queen Alexandra is promising, especially given the current gold price. We look forward to the results of the drilling programme and the insights it will provide for our future exploration and development plans.

Summary

Redcastle Resources Ltd (ASX: $RC1) has commenced a fully funded, follow-up diamond drill programme at the high-grade gold prospect, Queen Alexandra. The programme aims to confirm the orientation of structures used in the Mineral Resource geological interpretation, test the south-east strike extension of structures at depth and to the north, and test for multiple stacked lodes at depth. The diamond drilling programme, expected to last 6 weeks, is a significant step forward for the company and positions Queen Alexandra as a potential near term development opportunity with the current gold price at over A$3,500 per ounce. The company is optimistic about the potential insights the drilling programme will provide for future exploration and development plans.