Redcastle Resources Stockpiles 6,600oz Gold Ready to Mill as Processing Talks Progress
Key Takeaways
- Redcastle Resources has established a JORC-compliant ROM Pad stockpile of 144,800 tonnes at 1.43 g/t Au for 6,600 oz Au at the Redcastle Gold Project, compiled by independent Competent Person Carras Mining Pty Ltd.
- The high-grade subset alone — 49,100 tonnes at 2.75 g/t Au — contains 4,300 oz, giving the JV optionality to prioritise higher-value material through the mill first and maximise early cash flow.
- 142,600 tonnes of the stockpile is classified as Measured under the 2012 JORC Code, the highest confidence category, supported by a 6m x 8m RC grade control drilling grid — directly underpinning a potential Ore Reserve conversion.
- BML Ventures funds 100% of working capital through to first revenues under the JV structure, meaning RC1 carries no upfront capital burden on the path to monetising the stockpile.
- No processing arrangement has been finalised yet — treatment discussions are ongoing, and the Ore Reserve declaration is contingent on concluding those arrangements and completing the required technical and economic assessment.
Redcastle Gold Project stockpile reaches 6,600 oz Au milestone
Redcastle Resources Ltd announced on 29 September 2026 that open pit mining conducted from 1 May to 31 August 2026 has produced a JORC-compliant Mineral Resource Estimate (MRE) of 144,800 tonnes @ 1.43 g/t Au for 6,600 oz Au held in ROM Pad stockpiles at the Redcastle Gold Project. The MRE was compiled by Competent Person and consultant Carras Mining Pty Ltd (CMPL) and reported in accordance with the 2012 JORC Code, lending credibility to the headline figures.
Two deposits contribute to the stockpile: Redcastle Reef (RR), classified as Measured, and the early-stage Queen Alexandra (QA) pit, classified as Indicated. The stockpiles are ready for transport to a process mill, with treatment discussions currently ongoing.
Key MRE figures at a glance:
- Total MRE: 144,800t @ 1.43 g/t Au for 6,600 oz
- Redcastle Reef (Measured): 142,600t @ 1.42 g/t Au for 6,500 oz
- Queen Alexandra (Indicated): 2,300t @ 1.77 g/t Au for 100 oz
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Breaking down the stockpile: grade categories and JORC classification
The Redcastle Reef stockpile is divided into four grade categories, each reflecting how material was sorted and allocated to the ROM Pad during the mining sequence. This stratification matters to investors because it signals optionality for processing prioritisation — higher-grade parcels can be treated first to maximise early cash flow.
The standout subset is the 49,100t High Grade category @ 2.75 g/t Au for 4,300 oz, which accounts for a smaller share of total tonnage. At the other end, the 50,300t Low Grade 2 category @ 0.52 g/t Au adds bulk tonnage but contributes 800 oz to the total.
The Queen Alexandra stockpile is modest in size at this stage, comprising just 2,300 tonnes. Chairman Dr Ray Shaw described exploitation of QA as “still largely ahead of us,” indicating that the current Indicated stockpile represents only the beginning of what that deposit may ultimately contribute.
The full MRE by category is presented below:
| Category | Classification | Tonnes (DMT) | Grade (g/t Au) | Gold (oz) |
|---|---|---|---|---|
| RR High Grade | Measured | 49,100 | 2.75 | 4,300 |
| RR Medium Grade | Measured | 18,100 | 1.18 | 700 |
| RR Low Grade 1 | Measured | 25,000 | 0.80 | 600 |
| RR Low Grade 2 | Measured | 50,300 | 0.52 | 800 |
| QA High Grade | Indicated | 2,100 | 1.83 | 100 |
| QA Medium Grade | Indicated | 200 | 1.23 | 10 |
| Total | 144,800 | 1.43 | 6,600 |
Note: Tonnages and ounces are rounded per JORC reporting conventions; totals may not equal the precise sum of components.
What is a ROM Pad stockpile and why does it matter for investors?
A ROM (Run of Mine) Pad is a designated surface area where mined ore is stockpiled prior to processing. Think of it as a holding yard: the ore has been extracted from the ground and physically separated from waste rock, but it has not yet been treated to recover the gold. The value sits in the stockpile, waiting on a processing route.
JORC classification determines how much confidence you can place in the reported tonnage and grade figures. Measured is the highest confidence category, supported by dense data and close-spaced drilling — in RR’s case, a 6m x 8m RC grade control drilling grid. Indicated carries moderate confidence, reflecting less data availability, as is the case with the early-stage QA pit where mining had only just commenced.
The Measured classification applied to 142,600t of the RR stockpile is significant for investors because it provides high-confidence tonnage and grade data that feeds directly into a potential Ore Reserve conversion. Ore Reserves are the bankable subset of a resource, underpinning project financing and mine planning.
One additional point worth noting: the announcement states that, given the coarse-gold nature of Redcastle Reef mineralisation, there is potential for positive grade reconciliation at the mill. No upgrade factor has been assumed in this MRE, meaning actual recovered gold could exceed the reported estimate. That is not a guarantee, but it does mean the current figures are not inflated by optimistic assumptions.
Grade continuity at Redcastle Reef was confirmed through drilling conducted ahead of the open pit mining campaign, establishing the geological repeatability that supports the coarse-gold potential for positive reconciliation noted in the MRE announcement.
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JV structure, processing pathway, and what comes next
The Redcastle stockpiles sit within the Redcastle–BML Ventures Joint Venture, under which BML funds 100% of working capital through to first revenues. Net proceeds, after recovery of agreed Joint Venture costs, are then shared 50:50 between RC1 and BML. Royalties totalling 4.5% (comprising standard Western Australian State royalties and applicable third-party royalties) apply to the project.
The stockpiles are ready for transport, but no processing arrangement has been concluded yet. The announcement states that discussions for treatment of RR and QA ore are ongoing, and that a significant portion of the MRE is expected to convert to Ore Reserves, subject to finalising ore treatment arrangements and completing the required technical and economic assessment.
Beyond the stockpiles, the company notes that plans for commencing this season’s field activities in surrounding tenements are well underway, signalling that the project’s potential extends beyond the material already on the ROM Pad.
Chairman Dr Ray Shaw
“For a junior company to have established a mining operation in just three years is a splendid result for the Redcastle team. The ROM pad stockpiles represent a strong interim result; exploitation of Queen Alexandra is still largely ahead of us. Alternative processing arrangements are being actively pursued by the JV. At the same time, our results reinforce our technical assessment of the prospectivity of our larger portfolio. Plans for commencing this season’s field activities in surrounding tenements are well underway and the Company will update shareholders on these, and developments with alternative milling arrangements, as these progress.”
Upcoming catalysts investors should watch:
For readers wanting to understand the processing situation in more depth, our dedicated guide to alternative gold processing options for the Redcastle Gold Project covers the background to the Wiluna disruption and the range of treatment routes the JV is actively pursuing ahead of any Ore Reserve declaration.
- Finalisation of ore treatment and processing arrangements
- Potential Ore Reserve declaration from MRE conversion (subject to technical and economic assessment)
- Commencement of field exploration activities in surrounding tenements
- Shareholder update on milling arrangements as discussions progress
Ready to Explore the Investment Case Behind Redcastle’s 6,600 oz Au Stockpile?
Redcastle Resources (ASX: RC1) has established a JORC-compliant ROM Pad stockpile of 144,800 tonnes @ 1.43 g/t Au at its Redcastle Gold Project, with the high-grade subset alone accounting for 4,300 oz at 2.75 g/t Au — all ready for transport pending finalisation of processing arrangements. The JV structure, under which BML funds 100% of working capital through to first revenues, means RC1 carries no upfront capital burden on the path to monetising these ounces.
To understand the full scope of the project’s potential, including the Queen Alexandra deposit, upcoming field activities, and the processing pathway ahead, explore the Redcastle Resources company profile on Discovery Alert for the latest updates and deeper analysis.