R3D Resources (ASX:R3D) is a significant copper-zinc-gold explorer and developer in the prospective Chillagoe Region in North Queensland. R3D’s strategy is to become a self-funded and dividend paying explorer. In terms of future cash flows, we are planning to ramp up copper sulphate production in the 1H CY2023 with plant commissioning starting in December 2022 after the refurbishment of our heap leach – solvent extraction – crystallisation plant on our Tartana mining leases. The production ramp up in 2023 is forecast to generate cashflows which will supplement existing cashflows from the export of Zeehan low grade zinc furnace slag/matte operation in Tasmania.
Our significant exploration tenure in the prospective Chillagoe region covers a range of advanced and greenfield projects with more advanced projects including the quantification of the underlying porphyry copper and related zinc skarn mineralisation at Tartana, upgrading copper/gold mineralisation at Cardross to resource status, upgrading existing JORC 2004 resources at the Mountain Maid gold project to be JORC 2012 compliant and continue down dip copper exploration at the Ok Copper Mines at Bellevue. Our less advanced projects range from exploration of copper/gold surface prospects in the Bellevue and Dimbulah projects to the large (1250km2) Bulimba/Beefwood ‘frontier’ project which exhibits large scale geophysical and geochemical targets which have never been drill tested.