Continuation of the deep angled hole (MRN12003) on the Maronan project has intersected more visible lead sulphide mineralisation in the lower banded iron formation (Lower BIF) target horizon.

This new intersection is additional to those recently reported in the parallel Upper BIF and comprises strong, fine-grained, bedded lead sulphide mineralisation over a true width of 4.35 metres.

The lead sulphide abundance from the MRN12003 intercepts in both the Upper BIF and now the Lower BIF are visually comparable with the previous high-grade mineralisation intersected in MRN11003A (refer Red Metal ASX announcement on 7 March 2012). 

First assay results expected within the next month.

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