Red Metal Limited

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Home Investors ASX Announcements Maronan Silver-Lead Project - Daughter Hole Intersects Significant Visible Lead Sulphides
Maronan Silver-Lead Project - Daughter Hole Intersects Significant Visible Lead Sulphides

The recently completed daughter hole designated MRN12003B targeting two strong off-hole conductors has intersected several zones containing visible lead sulphide mineralisation in both the upper banded iron formation (Upper BIF) and more significantly the lower banded iron formation (Lower BIF).

The most significant zone from MRN12003B was in the Lower BIF. It is 15.95 metres in down-hole width and contains strongly disseminated lead sulphide mineralisation over much of the interval. Visual inspection of the Upper BIF intersection also interprets four narrow zones of moderate grade lead and zinc sulphide mineralisation together with one of less intense copper sulphide.

Down-hole electromagnetic surveying of the daughter hole is currently in progress to aid the next phase of drill hole targeting.

Although assay results are not expected to be received for up to three weeks, the drilling has clearly indicated that the Maronan project contains significant silver-lead mineralisation and has further validated Red Metal’s geological model which predicts a steep north plunge to the mineralised system. There is exciting potential for thicker and/or mulitiple zones above and to the north of the recent drill intercepts, as well as the possibility at depth.

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