Red Metal Limited

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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.
 
 
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)

 
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.