Red Metal Limited

NOTE: To use the advanced features of this site you need javascript turned on.

Home
Announcement 17 December 2014

Maronan Project MRN14007 Assay Results, 14008 Visual Results

MRN14008 intersected the prospective carbonate-lead sulphide stratigraphy at the predicted down hole depth some 290 metres down plunge of the strong lead and silver mineralisation intersected in MRN13002.  The targeted stratigraphy occurs over 101 metres down hole and contains five separate intervals of lead sulphide mineralisation.  These occur over a combined intercept thickness of approximately 33 metres with the widest being about 20 metres down hole.  True widths are estimated to be about 50% of down-hole widths.  Assay results are expected by mid-January.
 
The structurally remobilised lead mineralisation in drill hole MRN14007 has returned a high-grade lead and silver intercept of 10.1 metres from 579.4 metres down hole assaying 8.5% lead and 213g/t silver plus three other intercepts of lesser grade and width.  Estimated true widths are about 40% of down-hole widths.  The pierce point of MRN14007 is located 35 metres north and 60 metres below the strong lead and silver mineralisation in MRN13002.  This result highlights scope for potentially mineable widths of the structurally remobilised mineralisation focused at the apex to the fold structure.
 
Announcement 25 November 2014

Maronan Project MRN14007, 14004 Visual Results

The Board of Red Metal is pleased to announce that step-out drill hole MRN14007, located 30 metres north and 65 metres below the strong lead and silver mineralisation in MRN13002, has clipped the apex of the northern fold structure and encountered a 10 metre intercept of strong lead sulphide mineralisation. This mineralisation is typical of the coarse grained, structurally remobilised “bonanza” style.
 
Drill hole MRN14004 which targeted the hinge axis 600 metres down plunge of MRN13002 intersected banded carbonate-lead sulphide rock with prevalent quartz and iron sulphide (pyrrhotite) veins with weak copper sulphide mineralisation over a downhole width of 56 metres. Only narrow intervals of strong lead mineralisation were observed.
 
It is interpreted that the banded carbonate-lead sulphide rock in MRN14004 has been heavily affected by overprinting of a later mineralising event introducing silica, iron and copper sulphides, similar to that intersected above and further to the south in MRN14005 and MRN13001.

Assay results from MRN14007 will be available within about three weeks..

Download this announcement (1.5Mb pdf)
Announcement 29 October 2014

Red Metal Investor Presentation - Maronan Pb-Zn-Ag Project

A slideshow of Red Metal's Maronan Project presented at the Mining 2014 Resource Convention, Brisbane, 29 October 2014

Link to presentation 

 
Announcement 21 November 2014

Maronan Project MRN14003 Assay Results

Assaying of cores from drill hole MRN14003, which pierced the target horizon 90 metres above the strong lead and silver mineralisation in MRN13002, has returned a broad interval of gold mineralisation and a narrow lead sulphide intercept with high silver values.
 
Better intercepts include:
55.7 metres from 395.3 metres at 1.1g/t gold,
2.7 metres from 469.3 metres at 6.2% lead, 180g/t silver.
 
The gold with arsenic mineralisation is hosted in a banded carbonate-pyrrhotite-magnetite sequence typical of the rock type in the outer halo surrounding the lead-silver sulphide mineralisation.
 
Visual inspection of the recently completed step-out drill hole MRN14006, situated 140 metres south and 80 metres above MRN13002 has intersected similar banded carbonate-pyrrhotite-magnetite rocks to those in MRN14003 with minor beds of lead sulphides. Assay results should be available within about three weeks.
 
 
September 2014 Quarterly Report

Quarterly Report and Cash Flow for 30 September 2014

Maronan, QLD, Silver-Lead & Copper-Gold

  • Step-out drilling in progress.
  • Multiple zones of strong visible lead sulphide mineralisation intersected in MRN14003. Assays due soon.
  • Deep drill test MRN14005 in progress.

Tennant Creek, NT, Copper-Gold

  • High resolution, helicopter-borne, magnetic survey grids to be flown over five “bulls-eye” anomalies in the December quarter.
  • Targets are prospective for shallow, high-grade copper and gold deposits and are scheduled for drilling early next field season.

Joint Venture Activity

  • Joint venture partner Chinova is set to commence drilling on the Emu Creek joint venture in the December quarter.

Download this file  (2.2 Mb pdf)