Red Metal Limited

NOTE: To use the advanced features of this site you need javascript turned on.

Home News Latest News

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. 
 

 

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%.

Download this file  (4.0 Mb pdf)


Memorial

Memorial page


 

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.

Download this file  (1120 kb pdf)


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.
Download this file  (3.5 Mb pdf)
 

Red Metal Corporate Presentation - Mines & Money, 25 June 2020

Red Metal Limited Corporate Presentation, 25 June 2020

Download this file (4.2Mb pdf)


2018 AGM Notice and Proxy Form

Red Metal Limited Annual General Meeting Notice and Proxy Form.  The meeting is scheduled for 29 November 2018.

Download this announcement (200Kb pdf)

 

2019 Annual Report

Red Metal Limited annual report for financial year ended 30 June 2019

Red Metal Limited annual report for the financial year ended 30 June 2019, 

Download report  (8.4 Mb pdf) -  Web version


 

Announcement 27 September 2018

Maronan: Drilling Update on the Great Southern Conductors, QLD

Red Metal recently announced the initiation of a program of drilling designed to test the source rocks to the “Great Southern” electromagnetic conductors located just three kilometres south of Red Metal’s Maronan lead-silver and copper-gold deposit (refer to ASX announcement lodged 12 September 2018).
 
The first drill hole in this program targeted the western conductor and has intersected a metasedimentary rock cut by multiple narrow shears infilled with pyrrhotite, a highly conductive iron sulphide mineral that explained the source.
 
The second hole in the program targeted the more eastern of the two Great Southern conductors and intersected conductive iron sulphide-bearing veins and shears in a metasedimentary rock similar to the first hole.

No significant copper sulphide mineralisation is visible in either hole. Selected intervals of iron sulphide will be sampled for gold and trace element analyses..

Download this announcement (1.7Mb pdf)

 

Announcement 6 August 2020

Mt Skipper Project: Follow-up Drilling Underway

A second follow-up diamond core drill hole is underway testing a Cannington geophysical look-alike target on the Mount Skipper project located 90 kilometres south of the Cannington mine.  Assays from the first core into the standout Mount Skipper magnetic target revealed anomalous low-level values of zinc, lead, copper and silver particularly towards the end of the hole. The best one metre sample assayed 1140ppm zinc, 700ppm lead, 525ppm copper with 1ppm silver.  Metal and trace elements values and weak magnetic susceptibility levels show a general increase down the hole suggesting the hole stopped short of the target zone.
 

 

2018 Annual Report

Red Metal Limited annual report for financial year ended 30 June 2018.

ASX version.

Download report (3.0 Mb pdf)

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.

Download this file  (4.5 Mb pdf)


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%.

Download this file  (4.5 Mb pdf)


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

The first drill test on the high magnetic target T8 has been terminated after intersecting a magnetite-rich, mafic intrusive rock type (gabbro) from 477 metres to the end of hole at 533.2 metres.  This gabbroic rock contains an unusually high magnetite content (40-50 % by volume) that clearly explains the source of the magnetic anomaly.  No significant visible copper or nickel sulphides were observed. Selected intervals will be sampled for multi-element analyses.
 
The drill rig will now move on to test the very high gravity but weakly magnetic target T13. Visual results from this drill hole will be made available upon completion..
 

June 2018 Quarterly Report

Quarterly Report and Cash Flow for 30 June 2018

Punt Hill/Pernatty Lagoon JV, SA, Copper-Gold
  • 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.
Maronan, QLD, Silver-Lead & Copper-Gold
  • Regional ground electromagnetic surveying targeting additional copper-gold resources highlights strong conductor south of the Maronan deposit.
  • Preparations for drilling are underway.
Three-Ways, QLD, Zinc-Lead-Silver
  • 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.
Download this file  (3.6Mb pdf)

Red Metal AGM Presentation 27 November 2019

Red Metal Limited AGM Presentation 27 November 2019

Download this file (6.6Mb pdf )


Announcement 18 July 2018

Electromagnetic Survey Results from Maronan Project, QLD

A ground-based electromagnetic survey recently completed over the whole of the Maronan project in Northwest Queensland, has discovered two strong, regionally significant, conductors just three kilometres south of the existing Maronan lead-silver and copper-gold deposit. 
 
The new southern conductors are about 400 to 600 metres long and model at a depth of about 100 metres below surface.  Magnetic imagery places the southern conductors at the hinge zone to a regional fold closure (the Southern Fold Structure) which sits about 300 metres within the southern boundary of the Maronan tenement.
 

Announcement 11 November 2019

Nullarbor Project: Proof of Concept Drill Tests Underway

Red Metal’s maiden diamond core drilling program on the frontier Nullarbor project in Western Australia has commenced.
 
The program aims to drill test three regionally significant geophysical targets for their copper-gold or copper-nickel mineralisation potential.
 
Each target is proposed to be tested with an 800 metre deep hole.
 

Announcement 18 June 2018

New "Three-Ways" Zinc Project, QLD

Red Metal has secured three new exploration license applications 130 kilometres along trend from MMG’s recently commissioned Dugald River zinc-lead-silver mine in the Mount Isa region of Northwestern Queensland.
 
A regional data review by Red Metal's exploration team lead to the discovery of historic magneto-telluric (MT) data that has provided key evidence as to the zinc potential of this under explored region.
Modelling of the MT data has enabled Red Metal to interpret a thick, highly conductive sedimentary sequence located below 300 to 500 metres of younger cover which has the potential to host giant stratiform lead-zinc-silver deposits. The prospective sequence is interpreted over 60 kilometres of strike and has never been drill tested.
 

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.
Download this file  (3.7 Mb pdf)

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.

Download this announcement (200Kb pdf)


Announcement 19 April 2018

New "Yarrie" Copper-Cobalt Project, WA

Red Metal has secured five new exploration license applications in the highly sort after Paterson Province, 160 kilometres along trend from the large Nifty copper mine located in the East Pilbara region of Western Australia.
 
New magnetic imagery has enabled Red Metal to interpret a series of dome-shaped antiform structures located below 200-500 metres of younger sedimentary cover.
 
These potential dome-shaped features are considered by Red Metal to be highly prospective for giant Sedimentary-Hosted copper-cobalt deposits akin to the Mount Isa or Zambian styles. The new applications cover 1985 square kilometres and remain untested by past explorers.
 

Silver Market Review - JF Bertincourt, Terra Studio, Sept 2019

Research article on ASX silver opportunities, including Maronan Project.


December 2017 Quarterly Report

Quarterly Report and Cash Flow for 31 December 2017

Maronan, QLD, Silver-Lead & Copper-Gold
  • Regional ground electromagnetic surveying targeting additional copper-gold resources proposed.
  • Discussions are ongoing with interested joint venture parties.
Lawn Hill, QLD, Zinc-Lead-Silver
  • Two large stratigraphic conductors drill tested.
  • Assessment of trace element vectors in progress.
Leichhardt/Corkwood/Gulf, QLD, Copper-Gold
  • High resolution airborne magnetic surveys underway.
Mallapunyah, NT, Zinc-Lead-Silver
  • New joint venture executed with MMG.
  • Red Metal free carried 30% to a Decision to Mine.
Punt Hill/Pernatty Lagoon, SA, Copper-Gold-Zinc
  • New joint venture executed with OZ Minerals.
  • 6000 metre drilling commitment secured.
Nullarbor, WA,Copper
  • Ground based electrical surveys to be trialed.over two key targets next quarter.
Download this file  (2.7Mb pdf)

 

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

Download this file  (3.7 Mb pdf)


March 2018 Quarterly Report

Quarterly Report and Cash Flow for 31 March 2018

Maronan, QLD, Silver-Lead & Copper-Gold
  • Regional ground electromagnetic surveying targeting additional copper-gold resources set to start mid-May.
  • Discussions are ongoing with interested joint venture parties.
Lawn Hill, QLD, Zinc-Lead-Silver
  • Assessment of trace element vectors in recent drill holes results in expanded search.
  • New tenements secured.
Leichhardt/Corkwood/Gulf, QLD, Copper-Gold
  • High resolution airborne magnetic surveys aids definition of new IOCG target concepts for drill testing.
  • Infill gravity surveys on key targets planned.
Emu Creek JV, QLD, Copper-Gold
  • Drill test on a strong chargeability target scheduled for the next quarter.
Yarrie, WA,Copper-Cobalt
  • New project staked along trend from the Nifty Copper Mine in the Paterson Province.
  • High priority dome-shaped targets defined for first pass assessment.
Download this file  (4.4Mb pdf)

 

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.

Download this file  (3.7 Mb pdf)


Announcement 21 December 2017

Joint Venture with OZ Minerals 

Red Metal has advanced the Punt Hill and Pernatty Lagoon copper-gold projects located 30 kilometres south of the Carrapateena deposit with the execution of a Heads of Agreement with OZ Exploration Pty Ltd a wholly owned subsidiary of OZ Minerals Limited (OZ Minerals).
 
The entry of such a high quality joint venture partner to fund the project will provide new impetus particularly with OZ Minerals’ strong commitment to regional exploration.  OZ Minerals is widely recognized as one of Australia’s premier modern mining companies, owning the large Prominent Hill copper and gold mine in South Australia and is also developing the nearby Carrapateena copper and gold deposit.
 

Announcement 11 April 2019

Drill Results: Punt Hill & Pernatty Lagoon Copper-Gold Projects

Assaying of core from OZ Minerals’ maiden drill program at Punt Hill has returned anomalous copper mineralisation from the first hole into the PH1 target located just 42 kilometers south of their large Carrapateena copper and gold development.

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.

 

Announcement 4 December 2017

Mallapunyah Zinc Joint Venture with MMG Exploration Pty Ltd 

Red Metal is pleased to announce it has advanced the prospective Mallapunyah zinc project located in the McArthur Basin region of the Northern Territory, with the execution of an option and joint venture agreement with MMG Exploration Pty Ltd, a subsidiary of global miner MMG Limited (MMG).
 
Red Metal is excited by the entry of such a high quality joint venture partner on a project the company believes holds much promise.
 
MMG bring strong local mining expertise having recently commissioned the large Dugald River zinc-lead-silver mine in Northwest Queensland and previously owned the giant Century zinc-lead-silver operation. Importantly, MMG have active zinc exploration programs in the McArthur Basin region and good working relationships with the local communities.
 

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.

Download this file  (3.7 Mb pdf)


Announcement 23 October 2017

Lawn Hill Zinc Project - drilling to commence 

Recent target generation efforts, enhanced by a new airborne electromagnetic survey (VTEM), have defined several previously untested zinc plays for proof of concept drill tests.  Drill tests are about to commence on three separate McArthur River style zinc plays situated only 40 kilometres northeast of the giant Century zinc mine.  
 
Each of the three targets will be tested for their zinc potential with a separate percussion/diamond core hole drilled to a depth of about 600 metres.  A suitable rig is being mobilized to site for start-up early next week.  An update will be reported upon completion of the program..
 

 


 

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)

2017 Annual Report

Red Metal Limited annual report for financial year ended 30 June 2017.

Download report (2.6 Mb pdf) -  Printers version

 

 

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. 

Download this announcement (1.7Mb pdf)

Announcement 25 September 2017

Leichhardt Project Drilling Update  

Drilling on the high-amplitude magnetic target, referred to as the “Doppler” anomaly, has intersected intense magnetite-biotite altered mafic and porphyritic intermediate volcanic rock types explaining the source to this regional anomaly.
 
Based on visual analysis, no significant copper mineralisation was encountered however several widely spaced, 1-3 metre thick, shears and vein zones with weak copper sulphides are observed over the length of the hole.
 
Importantly, the porphyritic volcanic rock type and intense magnetite-biotite alteration intersected in the Doppler hole (DO-17-01) appears similar to that described in the halo surrounding the large Ernest Henry deposit.
 
Future work will be directed towards finding zones of structural brecciation and increased copper mineralisation within this interpreted alteration halo. Selective intervals of the core are being cut and assayed for copper, gold and a variety of trace elements to help guide any future step-out drill holes

Download this announcement (1211kb pdf)

 

 


 

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. 

A Memorial page is available to view and to comment.

Memorial

 

 

 


Announcement 18 September 2017

Drilling Underway on the large Doppler Copper-Gold Target  

Drilling is underway to test a high-amplitude magnetic target on Red Metal’s 100% owned Leichhardt project in Northwest Queensland.

The magnetic target, referred to as the “Doppler” anomaly, is interpreted as a large hydrothermal breccia system and is considered by Red Metal to be highly prospective for copper and gold. The target’s signature has similarities to that of the large Ernest Henry deposit located 120 kilometres to the southeast.

Download this announcement (1234kb pdf)