Red Metal Limited

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December 2018 Quarterly Report

Quarterly Report and Cash Flow for 31 December 2018

  • Execution of the “Greenfields Discovery Alliance” agreement with OZ Minerals Limited (OZ Minerals) secures a minimum of $8.05 million in early stage funding for the Yarrie, Nullarbor, Gulf, Three Ways, Lawn Hill and Mount Skipper projects plus $1.8 million in front end cash payments.
  • Five State Government funded collaborative drilling grants up to a value $750,000 awarded to test targets on the Nullarbor, Gibsons Tank and Three Ways projects.
  • Tenement holdings expanded in the exciting Paterson Province and Gawler Craton at Oakover and Birthday Well respectively.
  • Six hole drilling program completed on the Punt Hill and Pernatty Lagoon joint venture with wide intervals of patchy, low-grade copper mineralisation visible in two holes. Assay results pending.
  • Proof of concept drill tests completed on the Tennant Creek project. Assay results pending.

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Announcement 30 January 2019

RED METAL AND OZ MINERALS EXECUTE A NEW GREENFIELDS DISCOVERY ALLIANCE AGREEMENT

The Board of Red Metal is pleased to announce the execution of a significant, multi-project option and joint venture agreement with OZ Minerals Limited (OZ Minerals) aimed at fast-tracking the search for greenfield discoveries on the Company’s highly sought after Australian base metal exploration portfolio. 

 $8M minimum spend over two years across six projects
 $1.8M in front end cash payments to Red Metal

Download this announcement (1.1Mb pdf)