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Announcement 10 May 2013

Visual Results from Drill Hole MRN13001, Maronan Project, NW Queensland

Step-out drill hole MRN13001 has intersected a single 2.9 metre down-hole intercept of strong banded lead sulphide mineralisation in the lower carbonate position and rare visible lead mineralisation in the upper banded carbonate zone. The carbonate-lead sulphide horizons are thinner and less frequent compared with MRN12004B and truncated by a 114 metre interval of strong iron sulphide veining which contains local zones of strong copper. The overprinting iron and copper sulphide veining appears to have impacted on the continuity of the earlier formed lead and silver mineralisation.

Processing of the recently completed detailed gravity and ground magnetic surveys has highlighted a density anomaly at the hinge zone to the northern fold structure worthy of further investigation. This anomaly is located in an area where shallow historic drilling intersected wide zones of highly anomalous gold and arsenic values such as 42 metres at 1.0g/t gold, 520g/t arsenic and 82 metres at 0.7g/t gold and 3600 g/t arsenic including 40 metres at 1.1g/t gold, 3200g/t arsenic. Although still to be tested, this broad zone of anomalous gold and arsenic is interpreted as possible halo mineralisation above stronger copper and gold mineralisation at depth.

Also of significance, assaying from the broad zone of iron and copper sulphide veining in drill hole MRN12004B returned 18.7 metres at 1.6% copper, 0.8g/t gold and 35g/t silver including 5.3 metres at 2.4% copper and 1.4g/t gold and 61g/t silver. The pending assay results from MRN13001 are expected to define similar broad intervals of copper mineralisation. Strong copper sulphide veining can now be traced along strike for about 300 metres. It is hoped this zone links at depth with the northern hinge zone where reactive iron-rich rocks, ideal for precipitation of copper sulphides, are structurally thickened.

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March 2013 Quarterly Report

Quarterly Report and Cash Flow for 31 March 2013

Maronan, Qld, Silver-Lead-Zinc

  • Step-out hole MRN12004B intersects several intervals of strong mineralisation over potentially mineable widths. Better down-hole intercepts included 5.9 metres at 9.6% lead, 122g/t silver, 13.6 metres at 7.4% lead, 71g/t silver and an impressive 3.2 metres at 16.5% lead and 592g/t silver.
  • Geological vectors point to potential for thicker more massive zones of mineralisation towards the northern fold structure and at depth.
  • Third step-out hole MRN13001 is in progress. Drilling is expected to pass through the target horizons within about two weeks.

Tennant Creek Province, NT, Copper-Gold

  • Central Land Council approves grant of the Company’s Tennant Creek exploration licences opening these exciting copper and gold areas to modern exploration for the first time since about 1987.

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Announcement 5 March 2013

Assay Results from drill hole MRN12004, Maronan Project, NW Queensland

Assay results from the deeply weathered mineralisation intersected in MRN12004 have confirmed the continuity and thickness of the targeted banded carbonate and lead sulphide horizon. The results also identified a new zone of strong copper mineralisation enriched in gold.

Lead and silver mineralisation from the deeply weathered banded carbonate-chlorite rock averaged 2.74% lead and 5.4 g/t silver over a true width of 12.1 metres. This mineralisation occurs within a broad 43.3 metre true width interval averaging 1.54% lead and 8.9 g/t silver. Weathering processes appear to have leached this zone of silver and lead when compared with results from the deeper, fresh banded carbonate and lead sulphide mineralisation in MRN12003B.

The geology and assay results in MRN12004 resemble historic holes higher up but better results are expected deeper below the oxide interface. The current daughter hole, MRN12004B, which aims to intersect fresh sulphide mineralisation below the oxidised zone is at 714 metres and should pass through the target horizons in about two weeks.

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Announcement 29 April 2013

Assay Results from Drill Hole MRN12004B, Maronan Project, NW Queensland

Assaying has revealed multiple lead-silver horizons including seven intervals of strong mineralisation over potentially mineable widths in the upper and lower banded lead sulphide zones. These have a combined true width of 21 metres.

In the upper zone a 2.3 metre true width interval graded 9.6% lead, 122g/t silver and 0.36g/t gold, a 5.4 metre true width interval graded 7.4% lead, 71g/t silver and 0.10g/t gold while a parallel zone only 7 metres away graded 7.0% lead and 29g/t silver over a 5.7 metre true width interval.

Strong mineralisation within the lower banded carbonate-lead sulphide zone graded 5.3 % lead and 62 g/t silver over a true width of 6.1 metres. A second parallel zone returned an impressive 16.5% lead and 592g/t silver over a 1.6 metre true width. This very high silver interval is interpreted to correlate with the high silver results in MRN12003B located 155 metres to the south.

MRN12004B is only the second hole to intersect the newly discovered lead-silver sulphide horizons below the base of oxidation and potential for further wide zones of primary lead and silver mineralisation exists to the north and at depth.

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Announcement 1 November: Investor Presentation

Red Metal Investor Presentation - Giant Ore Deposits Discovery Opportunities

A slideshow of Red Metal projects for 2012-2013.

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