|Announcement 23 August 2016|
Irindina Copper-Cobalt Project - Drilling Update
First pass drilling on the Irindina copper-cobalt project testing a very strong electromagnetic conductor and a nearby five kilometre long by one kilometre wide multi-element soil geochemical anomaly has been completed.
A 240 metre deep percussion hole directed towards the electromagnetic conductor intersected graphitic shales with minor iron sulphides from 106 to 170 metres. Abundant fine graphite in the thick shale sequence is interpreted as the most likely source to the strong conductivity anomaly measured at surface. No visible copper mineralisation was identified.
Several shallow air core holes were drilled across the extensive multi-element geochemical anomaly but no visible copper mineralisation was logged.
Although assay results for base metals, gold and other trace elements are pending, the lack of visible copper mineralisation in the holes has down-graded this project.
Red Metal’s exploration team will now focus their efforts towards advancing the company’s exciting new zinc targets on the Lawn Hill project..
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|June 2016 Quarterly Report|
Quarterly Report and Cash Flow for 30 June 2016
Maronan, QLD, Silver-Lead & Copper-Goold
Lawn Hill, QLD, Zinc-Lead-Silver
Irindina, NT, Copper-Cobalt
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|Announcement 8 March 2016|
Maronan Deposit - Preliminary Mine Scoping Study
Red Metal Limited has completed a Preliminary Mine Scoping Study (“Study”) on the inferred lead-silver and copper-gold resources at the 100% owned Maronan Project located some 100 kilometres north of South32’s Cannington lead-zinc-silver mine in Northwest Queensland.
The Study provides strong impetus for the project and Red Metal will use it as a basis for further evaluation towards potential development and discussions with third parties in seeking joint venture funding.
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