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Announcement 15 March 2021

Red Metal To Spin Out And IPO Maronan Project

 
Red Metal Limited (ASX: RDM) (Red Metal) proposes to spin out
the Maronan Project through the listing on the ASX of its wholly
owned subsidiary, Maronan Metals Limited (ACN 156 269 993)
(MMA), subject to shareholder and regulatory approvals.
 
The Maronan Project is a large lead-silver and copper-gold deposit
located near Cloncurry in Queensland. With over 100 million
ounces of contained silver, the Maronan Project is one of the
largest undeveloped silver resources in Australia1.
 
MMA to raise up to $36 million to fund resource drill-out and
feasibility programs. Veritas Securities Limited will act as Lead
Manager to the Capital Raising.
 
Red Metal shareholders will receive a priority entitlement to
subscribe under MMA’s IPO.
 
Red Metal to retain approximately 50% of MMA, delivering
increased shareholder value for Red Metal shareholders.
 
Red Metal will continue to focus on exploring its highly
prospective Yarrie, Three Ways, Gulf and Lawn Hill projects in
alliance with OZ Minerals while advancing its 100% owned copper
and nickel projects including Corkwood, Pernatty, Pardoo and
Nullarbor.

Download this file  (421 Mb pdf)
December 2020 Quarterly Report (2)

HIGHLIGHTS

ALLIANCE WITH OZ MINERALS

Three Ways, QLD, Nickel-Copper-Cobalt-PGE & Zinc-Lead-Silver

  • Semi-massive pyrrhotite veins in drill hole TWD2001 return anomalous levels of nickel and platinum group elements.
  • Re-modelling of the magnetotelluric data show the location of the strong conductance anomaly east of TWD2001 that remains to be drill tested.
  • Follow-up ground electromagnetic surveying planned.

Gulf, QLD, Copper-Gold

  • Heritage surveys completed in preparation for drilling at the start of the 2021 field season.

Lawn Hill, QLD, Zinc-Lead-Silver & Copper

  • Processing and interpretation of new magnetotelluric data in progress. 

Yarrie, QLD, Copper-Gold-Cobalt

  • Final land access deed executed allowing the tenement applications to progress through to granting.
  • Preparations for airborne and ground electrical surveys in 2021 are underway.

 

RED METAL FUNDED PROJECTS

Maronan, QLD, Silver-Lead & Copper-Gold

  • 2D seismic survey completed across the deposit.
  • Interpretation in progress.

Download this file  (2.8 Mb pdf)
Red Metal Limited AGM Shareholder Presentation, 18 November 2020

Red Metal Limited AGM Shareholder Presentation 18, November 2020

Download this file  (5.7 Mb pdf)

 
December 2020 Quarterly Report

HIGHLIGHTS

ALLIANCE WITH OZ MINERALS

Three Ways, QLD, Nickel-Copper-Cobalt-PGE & Zinc-Lead-Silver

  • Semi-massive pyrrhotite veins in drill hole TWD2001 return anomalous levels of nickel and platinum group elements.
  • Re-modelling of the magnetotelluric data show the location of the strong conductance anomaly east of TWD2001 that remains to be drill tested.
  • Follow-up ground electromagnetic surveying planned.

Gulf, QLD, Copper-Gold

  • Heritage surveys completed in preparation for drilling at the start of the 2021 field season.

Lawn Hill, QLD, Zinc-Lead-Silver & Copper

  • Processing and interpretation of new magnetotelluric data in progress. 

Yarrie, QLD, Copper-Gold-Cobalt

  • Final land access deed executed allowing the tenement applications to progress through to granting.
  • Preparations for airborne and ground electrical surveys in 2021 are underway.

 

RED METAL FUNDED PROJECTS

Maronan, QLD, Silver-Lead & Copper-Gold

  • 2D seismic survey completed across the deposit.
  • Interpretation in progress.

Download this file  (2.8 Mb pdf)
Annual Report 2020

Annual Report 2020 

 
Announcement 28 January 2021

Assays from Three Ways Drilling Reveals Anomalous Levels of Nickel and Platinum Group Elements

Download this file  (2.1Mb pdf)