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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.
 

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

Red Metal Limited Corporate Presentation, 25 June 2020

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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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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