|
Announcement 5 January 2012 |
Drilling resumes on the Maronan Silver-Lead Project, NW Queensland. Drilling contractors have resumed activities on the Maronan project following the Christmas break. The current two hole, 1000 metre drill core program at Maronan is designed to test the continuity of the high grade silver-lead mineralisation in the Lower BIF and Upper BIF horizons as well as shallow mineralisation that has the potential to be extracted by open pit mining. A new geological model for the Maronan deposit predicts a plunge to the mineralisation that differs from earlier interpretations and has opened up the potential to define significant resources. Red Metal has been awarded $150,000 under the Queensland Government Greenfields 2020 – Collaborative Drilling Initiative to assist the drill testing of this exciting new geological model. The current drilling is expected to be completed in mid-January with assay results to follow in February. Download this announcement (284kb)
|
|
|
Announcement 8 December 2011 |
Drilling underway testing high-grade targets on the Maronan Silver-Lead Project, NW Queensland. Silver and lead mineralisation at Maronan occurs within two parallel banded iron formations referred to as the Lower BIF and Upper BIF horizons and is of a similar style to the nearby Cannington deposit which is one of the largest silver and lead producing operations in the world. The current two hole, 1000 metre, drill core program at Maronan is designed to test the continuity of the high grade silver-lead mineralisation in the Lower BIF and Upper BIF horizons as well as shallow mineralisation that has the potential to be extracted by open pit mining. The best mineralised intercept from the Upper BIF is an impressive 14.5 metres from 501 metres at 11.1% lead and 133g/t silver (MRN07001) while in the Lower BIF, one of the better mineralised intercepts includes 21 metres from 479 metres at 5.1% lead and 126g/t silver (MRN07002). The program is expected to take about one month to complete with assay results expected by the end of January 2012. Download this announcement (470kb)
|
|
|
September 2011 Quarterly Report |
Mount Isa Inlier, QLD, Base MetalsXstrata initiates 3,000 metre drill program testing possible extension to the Jimmy’s Creek copper-gold-silver breccia on the Corkwood joint venture project. Drilling in progress. Drill ready targets for high-grade Cannington style silver-lead mineralisation defined on the Maronan project. Drill rig secured for start during December quarter. - New, previously untested, two kilometre long zone of highly anomalous copper and gold mineralisation discovered at surface on the Sandy Creek project near the Osborne copper-gold mine. Preparation for drilling tests during the December quarter are in progress.
Paradox Basin, Colorado, Potash - Environmental assessment for prospecting permit authorisation in progress.
Curnamona Cratons, SA, Uranium - Cameco initiated a 16,000 metre uranium drill program on the Lakes joint venture projects. Preparation underway to add a further 10,000 metres of drilling to the current program.
Corporate Activity - Additional drill funding secured through underwritten rights issue.
Download this report (2.8 Mb pdf)
|
|
|
Red Metal Limited annual report for 2011 financial year lodged with ASX 19 September - printer's version now available for download. Download report (2.5 Mb pdf)
|
|
|
