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Announcement 17 August 2017

Drilling Underway on the Emu Creek JV

Joint venture partner, Chinova Resources has initiated drilling on the Emu Creek joint venture.
 
The current program aims to drill test three separate electromagnetic conductors on the Little Sandy Creek project located within 9 kilometres of Chinova’s Osborne copper and gold mine).
 
All three conductors are blind to surface but gossanous rock chip, rock float or soil samples collected directly above the modelled targets record anomalous levels of copper and associated trace elements which is encouraging.

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June 2017 Quarterly Report

Quarterly Report and Cash Flow for 30 June 2017

Maronan, QLD, Silver-Lead & Copper-Gold
  • Return of the lead price re-enforces the value opportunity of the large Maronan resource.

Emu Creek Joint Venture, QLD, Copper-Gold 

  • Drill test on new electromagnetic conductor six kilometres north of the Osborne copper and gold mine set to commence shortly.

Lawn Hill, QLD, Zinc-Lead-Silver

  • Airborne electromagnetic survey maps two significant, McArthur River style, zinc plays under less than 150 metres of transported cover.
  • First-pass drilling aims to start next quarter.

Leichhardt, QLD, Copper-Gold 

  • Significant magnetic/gravity anomaly targeted for large Ernest Henry style breccia deposit.
  • Preparations underway to drill test next quarter.

Punt Hill, QLD, Copper-Gold 

  • High-priority Punt Hill copper-gold exploration license secured.
  • Located only 30 kilometres south of the large Carrapateena copper-gold deposit.
  • Key gravity/magnetic target PH1 has a similar geophysical response to Carrapateena.  
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Announcement 22 June 2017

LAWN HILL ZINC PROJECT - RESULTS FROM NEW AIRBORNE ELECTROMAGNETIC SURVEY

 
Recent processing of new airborne electromagnetic data (VTEM) has mapped the extent of the 2 significant stratiform conductors and identified 5 others for further assessment.
 
Conductor 1 is flat lying, measuring 5 kilometres by 6 kilometres and located under about 120 metres of younger sedimentary cover. 
 
Conductor 2 is 25 kilometres long, dips about 30 degrees to the northwest and is located under 50 to 200 metres of younger sedimentary cover.  Here the conductive sequences are estimated to be about one kilometre thick and occur along strike from exposures of the prospective Riversleigh Siltstone. 
 
The Riversleigh Siltstone is known to host stratiform zinc mineralisation and marks the time equivalence of the Barney Creek Formation, the host to the giant McArthur River and Teena silver-lead-zinc deposits located in the Northern Territory. The Barney Creek Formation, where mineralised, is locally thickened and enriched in pyritic and carbonaceous sediments that are highly conductive.
 
Preparations are underway to begin ground work and drill tests on a number of these exciting new zinc target concepts during the third quarter of 2017. 
 
 
Announcement 21 July 2017

RED METAL PROJECT SUMMARY PRESENTATION - 21 July 2017

Red Metal Limited project summary presented to the Noosa Mining Conference, 21 July 2017

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