said April 29that it has started an initial two-hole diamond drill program at the Truncheon targetwithin the Thalangazinc project in Queensland, Australia, as part of its ongoing high-impact explorationstrategy at the project.

The initialprogram's two holes are planned to test the target's coincidental gravity, inducedpolarization and geochemistry.

Red River alsosaid it received a A$75,000 grant under the state government's Future ResourcesProgram — Collaborative Drilling Initiative, which will help fund drilling of thetwo holes at Truncheon to a depth of 500 meters.

The target isabout 3 kilometers away from the historic Highway Reward copper mine and Red River'sreprocessing of historical geophysical data in 2015 indicated that the Truncheonprospect anomaly is of similar size and scale to the historical anomaly at the HighwayReward deposit.

According tothe company, Highway Reward was an exceptional deposit and was mined from 1998 to2005, with total production of 3.8 million tonnes at 6.2% copper and 1 g/t of goldfrom open pit and underground mining operations.