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.
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Announcement 28 January 2021
Assays from Three Ways Drilling Reveals Anomalous Levels of Nickel and Platinum Group Elements
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June 2019 Quarterly Report
Quarterly Report and Cash Flow for 30 June 2019
Mount Skipper, QLD, Zinc-Lead-Silver
- Proof of concept drill test in progress
Three Ways, QLD, Zinc-Lead-Silver & Copper
- Extensive magneto-telluric survey underway
- Preliminary results expected next quarter
Nullarbor, WA, Copper-Gold
- Multiple gravity surveys completed
- Several standout anomalies identified
- Expanded tenement holding secured
- Preparations for proof of concept drilling in 2019 underway
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Red Metal Limited AGM Shareholder Presentation, 18 November 2020
March 2019 Quarterly Report
Quarterly Report and Cash Flow for 31 March 2019
Punt Hill/Pernatty Lagoon JV, SA, Copper-Gold
- Assays from the first hole into the PH1 target (DD18PTH001) returned 244 metre averaging 0.26% copper including 35 metres @ 0.6% copper and 10.8 metres @ 1.0% copper .
- DD18PTH001 interpreted as a near-miss hole.
Greenfields Discovery Alliance with OZ Minerals
- Six project option and earn-in agreement executed.
- Field programs to start next quarter.
- Preparations underway for expanded gravity surveying on the Nullarbor project, extensive magneto-telluric surveying on Three Ways and Lawn Hill projects and drilling on Mount Skipper.
Yarrie, WA, Copper-Gold-Cobalt
- Rio Tinto announced a significant new copper and gold discovery at Winu.
- Geophysical targets on Yarrie comparable with the response observed over Winu.
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Announcement 11 April 2019
Drill Results: Punt Hill & Pernatty Lagoon Copper-Gold Projects
PH1 is a near coincident gravity and weak magnetic target that straddles the boundary between the separate Punt Hill and Pernatty Lagoon joint venture areas (refer to Red Metal ASX announcement dated 21 December 2017).
Drill hole DD18PTH001 was directed towards the high-gravity portion of the anomaly and intersected meta-sediments overprinted by dense, prograde-garnet alteration towards the end of hole that appears to explain the gravity response. A wide 244 metre interval of anomalous copper mineralisation averaging 0.26% copper was detected throughout the meta-sedimentary rocks with some of the better zones returning;
35.0 metres @ 0.6% copper from 841metres, including
10.8 metres @ 1.0% copper from 841 metres.
The copper mineralisation, located within the Punt Hill joint venture area, occurs as wide spaced chalcopyrite ± bornite veins with associated magnetite ± hematite and more intense retrograde chlorite, K-feldspar and siderite alteration.
Red Metal speculates that the magnetite and chlorite alteration together with the wide intervals of anomalous copper in DD18PTH001 may indicate a near-miss hole.
September 2020 Quarterly Report
HIGHLIGHTS
ALLIANCE WITH OZ MINERALS
Mount Skipper, QLD, Zinc-Lead-Silver & Copper
- Second follow-up drill hole at Mount Skipper identifies weak hydrothermal copper mineralisation associated with magnetic minerals but source to the anomaly still remains to be validated.
- Petrology and petrophysical studies in progress, assays pending.
Three Ways, QLD, Zinc-Lead-Silver & Copper
- Proof of concept drill tests on two separate high conductance trends both intersected mafic intrusive rock types which do not explain the source to the anomalies.
- Techniques to improve follow-up drill positioning are being assessed.
Gulf, QLD, Copper-Gold
- Heritage surveys completed in preparation for drilling.
Lawn Hill, QLD, Zinc-Lead-Silver & Copper
- Regional magnetotelluric surveys in progress.
Yarrie, QLD, Copper-Gold-Cobalt
- Final land access deed executed allowing the tenement applications to progress through to granting.
RED METAL FUNDED PROJECTS
Maronan, QLD, Silver-Lead & Copper-Gold
- 2D seismic line initiated across the deposit. Interpreted results anticipated early 2021.
Corkwood, QLD, Copper-Gold
- Drilling underway on a previously untested magnetic target revealed from advanced processing of high resolution magnetic survey.
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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 October 2020
Three Ways Zinc and Copper Project Drilling Update
Drill hole TWD2001 intersected a weak foliated gabbro to the end of hole at 717.7 metres. Conductive rock types include a 7.8 metre interval of semi-massive pyrrhotite veins from 665 metres and a narrow 0.5 metre interval of pyrrhotite-chalcopyrite veining from 614.4 metres (Figure 2b). Although the veins contain pyrrhotite, a strongly conductive mineral, the intervals are considered too narrow to cause the magnetotelluric anomaly.
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.
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Notice of 2020 Annual General Meeting
Notice of 2020 Annual General Meeting
Announcement 10 December 2018
Tennant Creek: Copper Drilling Underway
A percussion drill program designed to test three separate magnetic targets, each with supporting copper and bismuth soil geochemistry, is underway on Red Metal’s Tennant Creek copper project.
Red Metal has used high-resolution helicopter-borne magnetic surveying to define a number of magnetic targets situated in underexplored sand covered terrain 90 kilometres southeast of the Tennant Creek goldfield. These targets model at shallow depths below less than 20 metres of younger sand cover and offer scope for copper, gold and bismuth mineralisation associated with magnetite alteration.
Clay-fraction soil sampling was trialed above nine magnetic targets with the aim of ranking the anomalies for drilling using pathfinder elements. Encouraging low-level copper and bismuth anomalism was measured in soil samples collected above three of the blind magnetic targets (Red4S, Red4N and Red5) which are the focus of the current proof of concept drill program.
The program comprises 4 holes totaling 600 metres and Red Metal has been awarded up to $78,000 funding support under the Northern Territory Government’s collaborative drilling initiative.
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Date of 2020 Annual General Meeting
Date of 2020 Annual General Meeting
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Vale Greg Kary, Senior Geologist
It is with deep regret that we advise of the sudden passing of Mr Greg Kary, our much loved and respected colleague and friend.
Announcement 9 September 2020
Mt Skipper Project: Follow-up Drilling Completed
The follow-up diamond core drill hole designed to test a regional magnetic anomaly was terminated at 1193.5 metres after intersecting a 153 metre interval of hydrothermal alteration and veining containing weak iron sulphide mineralisation and traces of copper sulphide mineralisation.
Down-hole electromagnetic surveying was attempted but had to be abandoned due to the high in-hole temperatures affecting the survey equipment.
A deep penetrating ground electromagnetic survey technique (SQUID EM) is planned over the target in about 2 months and it is hoped this technique will help locate zones of strong copper sulphide mineralisation within the broader magnetic anomaly.
Detailed petrology and magnetic remanence tests will be conducted on the core to validate the magnetic source to the anomaly and help constrain future magnetic models. Assays for base metals, gold and other trace elements are pending.
The drill rig has now mobilised to the Company’s Three Ways project to start a 2400m metre proof of concept drill program testing three separate, high conductance magnetotelluric (MT) anomalies.
Announcement 6 August 2020
Mt Skipper Project: Follow-up Drilling Underway
September 2018 Quarterly Report
Quarterly Report and Cash Flow for 30 September 2018
Punt Hill/Pernatty Lagoon JV, SA, Copper-Gold
- OZ Minerals initiates 6000 metre drill program.
- First hole into PH1 target completed.
- Two drill rigs in progress.
Maronan, QLD, Silver-Lead & Copper-Gold
- Two holes into the Great Southern electromagnetic conductors completed.
- Strong pyrrhotite explained the source of the anomalies.
Gulf, QLD, Copper-Gold
- Higher resolution gravity surveying completed.
- Preliminary processing on the Gibsons Tank tenement highlights five priority gravity/magnetic targets.
Tennant Creek, NT, Copper-Gold
- Track access preparations underway for planned drill tests on three shallow sourced magnetic targets prospective for copper-gold.
Three Ways, QLD, Zinc-Lead-Silver
- Previously unrecognized, zinc prospective shale sub-basin along trend from the Dugald River zinc mine.
- Historic magneto-telluric data maps highly conductive zinc prospective sequences with no previous drill history.
Yarrie, WA, Copper-Cobalt
- Significant ground position in the Paterson Province along trend from the Nifty Copper mine and a new Rio Tinto copper play.
June 2020 Quarterly Report
Quarterly Report and Cash Flow for 30 June 2020
Corporate Activity
- Successful $3M capital raising to fund Red Metal 100% projects.
Mount Skipper, QLD, Zinc-Lead-Silver & Copper
- A second follow-up drill hole is set to begin in early August.
Three Ways, QLD, Zinc-Lead-Silver & Copper
- Proof of concept drill tests on significant conductive trends planned to commence after completion of the Mount Skipper program.
Gulf, QLD, Copper-Gold
- Standout magnetic and gravity targets prioritized for drilling after the Three Ways program.
Lawn Hill, QLD, Zinc-Lead-Silver & Copper
- Regional magneto-telluric survey planned to start once COVID-19 travel restrictions around remote aboriginal communities have eased.
Pardoo, WA, Nickel-Copper
- New, previously untested, magmatic nickel-copper plays staked in the Northwest Pilbara region – Red Metal 100%.
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2018 AGM Notice and Proxy Form
Red Metal Limited Annual General Meeting Notice and Proxy Form. The meeting is scheduled for 29 November 2018.
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Share Placement to Fund Projects Raises $3 Million
The Board of Red Metal Limited has raised A$3 million from selected Australian institutions and professional investors. The proceeds of will primarily be used to advance targets towards drilling on several of the Company’s 100% owned projects.
This will include a 2D seismic trial over the advanced Maronan silver-lead project, magnetotelluric surveying for large copper-gold breccia systems on Corkwood and ground electromagnetic surveys on the new Pardoo nickel-copper project. The new funds will enable the Company to maintain its strong project generation capacity and also be used for general working capital purposes.
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Announcement 27 September 2018
Maronan: Drilling Update on the Great Southern Conductors, QLD
No significant copper sulphide mineralisation is visible in either hole. Selected intervals of iron sulphide will be sampled for gold and trace element analyses..
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Red Metal Corporate Presentation - Mines & Money, 25 June 2020
Red Metal Limited Corporate Presentation, 25 June 2020
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2018 Annual Report
Red Metal Limited annual report for financial year ended 30 June 2018.
ASX version.
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December 2019 Quarterly Report
Quarterly Report and Cash Flow for 31 December 2019
Mount Skipper, QLD, Zinc-Lead-Silver & Copper
- First proof of concept drill test intersected unusual, coarse-spotted rock types interpreted as possible halo rocks to a metamorphosed massive sulphide.
- Recent assays reveal anomalous low-level values of zinc, lead, copper and silver and other trace elements that increase down the hole supporting the halo interpretation.
- A second follow-up hole is planned for drilling early in the 2020 field season.
Three Ways, QLD, Zinc-Lead-Silver & Copper
- Innovative regional magneto-telluric survey completed.
- Processing highlights significant conductive trends and priority targets.
- Preparations for drilling are underway.
Gulf, QLD, Copper-Gold
- Standout magnetic and gravity targets prioritized for drilling in 2020.
Lawn Hill, QLD, Zinc-Lead-Silver & Copper
- Innovative regional magneto-telluric survey to begin early in the 2020 field season.
Nulllarbor, WA, Copper-Gold & Copper-Nickel
- Proof of concept drill tests on the T8 and T13 geophysical targets intersect mafic intrusive gabbroic rock types.
- Implications for magmatic copper and nickel sulphides to be assessed.
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Announcement 12 September 2018
Maronan: Drilling Underway on the new Great Southern Conductors, QLD
Drilling is underway on the new “Great Southern” electromagnetic conductors recently identified just three kilometres south of Red Metal’s Maronan lead-silver and copper-gold deposit.
The two Great Southern conductors are about 400 to 600 metres long, model at a depth of about 100 metres below surface and are considered highly prospective for copper and gold mineralisation. Magnetic imagery places the southern conductors at the hinge zone to a regional fold closure (the Great Southern Fold Structure) which sits about 300 metres within the southern boundary of the Maronan tenement.
The current RC percussion drill program aims to drill one proof-of-concept hole into each of the Great Southern conductors. Two holes totaling about 600 metres are planned.
March 2020 Quarterly Report
Quarterly Report and Cash Flow for 31 March 2020
Mount Skipper, QLD, Zinc-Lead-Silver & Copper
- A second follow-up drill hole is set to begin as soon as COVID-19 travel restrictions are lifted.
Three Ways, QLD, Zinc-Lead-Silver & Copper
- Proof of concept drill tests on significant conductive trends are planned for 2020.
Gulf, QLD, Copper-Gold
- Standout magnetic and gravity targets prioritized for drilling in 2020.
Lawn Hill, QLD, Zinc-Lead-Silver & Copper
- Innovative regional magneto-telluric survey planned to start once COVID-19 travel restrictions are lifted.
Yarrie, WA, Copper-Gold-Cobalt
- Heritage agreements executed by Native Title parties. Granting of exploration license applications is expected soon.
Pardoo, WA, Nickel-Copper
- New, previously untested, magmatic nickel-copper plays staked in the Northwest Pilbara region – Red Metal 100%.
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Announcement 10 September 2018
Drilling Underway on the Punt Hill & Pernatty Lagoon Copper-Gold Projects, SA
Joint venture partner OZ Minerals Limited (OZ Minerals) has initiated a significant maiden drill program testing a series of new copper-gold plays on the Punt Hill and Pernatty Lagoon joint venture projects located 30 kilometres south of the Carrapateena deposit. Initially, six separate targets totaling more than 6000 metres of drilling will be tested.
Red Metal together with OZ Minerals has been developing new targeting concepts for the location of higher grade zones of copper-gold mineralisation on the Punt Hill and Pernatty Lagoon projects. This work identified a range of previously untested geophysical targets for proof of concept drill tests.Announcement 17 December 2019
Nullarbor Project: Drilling Update
June 2018 Quarterly Report
Quarterly Report and Cash Flow for 30 June 2018
- Successful execution of Native Title Mining Agreement for Exploration.
- Heritage surveys completed in preparation for significant proof of concept drill program totaling more than 6,000 metres.
- Drilling on schedule to commence early September.
- Regional ground electromagnetic surveying targeting additional copper-gold resources highlights strong conductor south of the Maronan deposit.
- Preparations for drilling are underway.
- Exploration permits secured over new zinc prospective sub-basin interpretation - 130 kilometres north of the large Dugald River zinc-lead-silver deposit.
- Magneto-telluric survey lines map thick, highly conductive sedimentary sequences that are the key to finding large Mount Isa style zinc deposits.
- Conductive sequences remain untested by past exploration.
Gulf Project, QLD, Copper-Gold
- Higher resolution gravity surveying initiated over several previously untested Iron-Oxide Copper-Gold (IOCG) target areas.
Yarrie, WA,Copper-Cobalt
- Significant new project secured in the Paterson Province along trend from the Nifty Copper mine and a new Rio Tinto copper play.
Red Metal AGM Presentation 27 November 2019
Red Metal Limited AGM Presentation 27 November 2019
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Announcement 18 July 2018
Electromagnetic Survey Results from Maronan Project, QLD
Announcement 11 November 2019
Nullarbor Project: Proof of Concept Drill Tests Underway
Announcement 18 June 2018
New "Three-Ways" Zinc Project, QLD
September 2019 Quarterly Report
Quarterly Report and Cash Flow for 30 September 2019
Mount Skipper, QLD, Zinc-Lead-Silver & Copper
- First proof of concept drill test intersects unusual, coarse-spotted rock types interpreted as possible halo rocks to a metamorphosed massive sulphide. Assays pending.
- The targeted magnetic bullseye anomaly still remains untested.
Three Ways, QLD, Zinc-Lead-Silver & Copper
- Innovative regional magneto-telluric survey in progress.
- Preliminary processing highlights significant conductive trends and priority targets for follow-up work.
- Final data and modelling expected next quarter.
Nullarbor, WA, Copper-Gold
- Proof of concept drill tests of targets T8 and T13 on schedule to start next quarter.
Announcement 9 May 2018
Maronan Project, QLD: May 2018 presentation
2019 AGM Notice and Proxy Form
Red Metal Limited Annual General Meeting Notice and Proxy Form. The meeting is scheduled for Wednesday 27 November 2019.
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Announcement 19 April 2018
New "Yarrie" Copper-Cobalt Project, WA
Silver Market Review - JF Bertincourt, Terra Studio, Sept 2019
Research article on ASX silver opportunities, including Maronan Project.
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Linkedin post: https://www.linkedin.com/posts/jfbertincourt_silver-market-analysis-and-possible-asx-companies-activity-6583536012180451328-yg0R
December 2017 Quarterly Report
Quarterly Report and Cash Flow for 31 December 2017
- Regional ground electromagnetic surveying targeting additional copper-gold resources proposed.
- Discussions are ongoing with interested joint venture parties.
- Two large stratigraphic conductors drill tested.
- Assessment of trace element vectors in progress.
- High resolution airborne magnetic surveys underway.
- New joint venture executed with MMG.
- Red Metal free carried 30% to a Decision to Mine.
- New joint venture executed with OZ Minerals.
- 6000 metre drilling commitment secured.
- Ground based electrical surveys to be trialed.over two key targets next quarter.
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