The Red Hill Prospect is an exciting recent discovery for Heavy Minerals Limited with an Exploration Target being announced in May 2023 ranging from 90 to 150 Mt of material @ 5.4% to 4.1% THM. The Exploration Target also contains between 5 and 6 Mt of THM and 3.8 and 4.5 Mt of garnet. Cut-off grades for reporting range between 3% THM and 1% THM.   . 

The Red Hill Prospect is approximately 37 km South of the Port Gregory Garnet Project and approximately 70 km by road to the Port of Geraldton.

Given the proximity to Geraldton Port (approximately half the distance to Port compared to the RDG Lucky Bay Mine) any potential future operation here could have an advantage compared to similar operations in the region, due to lower transport costs.

The Geology at the discovery is analogous to the Port Gregory project with dunal sands overlying the Tamala Limestone formation. The frontal dunes and beaches in this area of the coastline have anomalous levels of very coarse garnet. This garnet has likely been washed down by the Bowes River from source rocks further inland. The targeted sand packages on the eastern side of the foredune area are also aeolian in nature and considered by the HVY team to be analogous to the sand packages hosting the identified mineralisation at the Port Gregory Project.

Recent Drilling Results
Notable intersections include:

    • 8.2% THM over 20 m from 21 m downhole (RHAC0039)
    • 6.6% THM over 22 m from 20 m downhole (RHAC0038)
    • 5.9% THM over 15 m from surface (RHAC0040)
    • 5.5% THM over 34 m from surface (RHAC0041)
    • 5.4% THM over 11 m from 16 m downhole (RHAC0037)
    • 5% THM over 20 m from surface (RHAC0039)
    • 5% THM over 5 m from 31 m downhole (RHAC0035)
    • 5% THM over 5 m from 31 m downhole (RHAC0035)
    • 4.9% THM over 9 m from 8 m downhole (RHAC0043)
    • 4.9% THM over 15 m from 21 m downhole (RHAC0040)
    • 4.8% THM over 15 m from 26 m downhole (RHAC0036)
    • 4.7% THM over 6 m from surface (RHAC0036)
    • 4.3% THM over 14 m from 28 m downhole (RHAC0037)
    • 4% THM over 6 m from 13 m downhole (RHAC0038)

Exploration Program
The Company anticipates commencing another Air Core drilling program at Red Hill in early 2024. The resource is open at depth and to the North, South and East.