Red Hill Iron Limited announced that exploration drilling results have been received from drilling, targeting base and precious metals, undertaken on the Red Hill Iron Ore Joint Venture Tenements. The Company retains 100% interest in all minerals on these tenements other than iron ore ("Other Minerals"). Gold results have been received from RC and Diamond drilling at the Dereks Bore, Urandy and Kens Bore Prospects, and anomalous zinc results were returned from the S-Bend Prospect.

Dereks Bore (Gold): The Dereks Bore Prospect has been defined along an approximate strike length of 975m by a series of >10ppb Au in soil anomalies, at or near the contact between the Duck Creek Dolomite and the Mt McGrath Formation. Exploration drilling by the RHIOJV in 2021 and 2022 (DKDD0001 and DKRC0001 respectively) was designed to test a regional gold bearing structure at depth, adjacent to previously intercepted anomalous gold intercepts (>1m thick @ 0.5g/t Au) including: 8m at 1.07 g/t Au from surface in WPRC17-022(1), and 4m at 0.52 g/t Au from 20m in WPRC17-029(1). 19m at 0.51 g/t Au from surface in RHI0009(2), 4m at 0.58 g/t Au from 7m in BBI0196(2), 2m at 1.39 g/t Au from 31m in SRC004(2), 1m at 1.58 g/t Au from 13m in SRC005(2), New results (>1m thick @ 0.5g/t Au) include: 1m at 0.83 g/t Au from 29m including 0.5m at 1.43g/t Au from 29.5m in DKDD0001, and, 2m at 1.95 g/t Au from 58m, 4m at 0.78 g/t Au from 74m and 2m at 1.29 g/t Au from 82m in DKRC0001.

Urandy (Gold): The Urandy Gold Prospect is defined along a 1.25km strike length by a series of 10ppb Au gold in soil anomalies that appear related to the unconformity between the Wooly Dolomite and the Mt McGrath Formation. Infill drilling by the RHIOJV was designed to test anomalous gold mineralisation associated with brecciation and silicification of the unconformity. Historic anomalous gold drillhole intercepts (>2m thick @ 1.0g/t Au) at this target include: 7m at 2.29 g/t Au from 1m in BCW0010(3), 2m at 1.15 g/t Au from 36m in BCW0013(3), 9m at 1.79 g/t Au from 14m in RCW006(4), 2m at 1.07 g/t Au from 42m in RCW009(2), and 9m at 5.06 g/t Au from 46m in RCW007(2).

New results (>2m thick @ 1.0g/t Au) include: 5.4m at 4.37 g/t Au from 42m in URDD0002 (testing up dip continuity of RCW007). Kens Bore (Gold): The Kens Bore Prospect is defined by two East-West orientated >10ppb Au in soil anomalies associated with the unconformity between the Cheela Springs Basalt, Wooly Dolomite and the overlying Mt McGrath Formation. Historic rock chip sampling in the area returned up to 3,240g/t Au in float, and previous drilling has not effectively tested the target.

Historic results include (>1m thick @ 0.5g/t): 4m at 1.03g/t Au from 36m in WPRC17-033 (BOH) (2). New results include (>1m thick @ 0.5g/t): 1m at 0.99 g/t Au from 2m in KNDD0001. Mineralisation appears to be related to silica-sericite-clay veining and alteration within brecciation developed on the unconformity of the Mt McGrath Formation.

S-Bend (Base Metals): The S Bend Prospect is defined by a historic zinc in soil anomaly and previous drilling and appears to be related to anomalous zinc mineralisation developed in a fault bound wedge of the Mt McGrath Formation and the Wooly Dolomite. Historic anomalous drillhole intercepts (>5m thick @ 0.1% Zn) include: 20m at 0.15% Cu, 0.63% Pb and 0.24% Zn from 40m in SBRC001 (5); 5m at 0.65% Zn from 80m in RCA0003(2), and 85m at 0.13% Zn (including 5m at 0.52% Zn) from 90m in RCA0004(2). New results (>5m thick @ 0.1% Zn) include.

10m at 0.29% Zn from 40m in SBRC0003, 10m at 1.32% Zn from 50m in SBRC0004, and 8m at 0.19% Zn from 96m in SBRC0005.