The All Ordinaries Index (ASX: XAO) is down 0.1% in morning trade, with ASX All Ords gold stock Red Hill Minerals Ltd (ASX: RHI) trading flat at this same time.
Red Hill shares closed on Friday trading for $5.07. At the time of writing on Monday, shares are changing hands for, well, $5.07 apiece.
This leaves the Red Hill share price up 81.1% since plumbing a one-year closing low on 7 April.
Here’s what’s happening today.
ASX All Ords gold stock expanding its footprint
The Red Hill Minerals share price has yet to make any big moves following the release of an exploratory drilling update.
The ASX All Ords gold stock reported on a fresh batch of assay results from a diamond and reverse circulation (RC) drilling program targeting the Barkley Gold prospect, situated within its West Pilbara Gold and Base Metal Project, located in Western Australia.
Red Hill’s 2025 RC and diamond drill program expanded the mineralisation footprint at Barkley to more than a one-kilometre strike length. The target was reported to remain open in multiple directions.
The miner said the results from the two latest diamond twin holes, which were drilled for a total of 424.3 metres, have confirmed gold mineralisation and “extensive alteration”.
Among the top results, Red Hill reported 1.3 metres at 2.0 grams of gold per tonne from 9.7 metres, and 0.7 metres at 1.2 grams of gold per tonne from 83.3 metres.
For the geologically informed, management stated:
Drilling across the target confirms mineralisation is present in both weathered and fresh rock. Bedrock alteration and structural overprint has been observed in diamond drill core to increase with depth, adding previously undescribed alteration styles for this project including hematite alteration, observed from approximately 190 metres.
The ASX All Ords gold stock has commenced initial 3D geological modelling that incorporates the structural information from the diamond core to assist with future drill planning.
Management said that Future drilling at Barkley will likely step out to the north, south, and east of three of its most promising drill holes, “where the thickest and highest-grade mineralisation remains open and heritage clearance has been obtained”.
What’s been happening with Red Hill Minerals?
Atop its recent exploration successes at the Barkley Gold Prospect, the ASX All Ords gold stock has been catching solid tailwinds from the surging gold price.
Gold is currently fetching US$4,596 per ounce. That’s within a whisker of its all-time highs posted last week. And it sees the price of the yellow metal up a whopping 67% since this time last year.
The post Up 81% since April, ASX All Ords gold stock reveals latest exploration success appeared first on The Motley Fool Australia.
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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