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Home Investors ASX Announcements Drilling underway on hole MRN12004, Maronan Project, NW Queensland
Drilling underway on hole MRN12004, Maronan Project, NW Queensland

A deep drill test has begun on the Maronan project as follow-up to the recent drill hole MRN12003B which intersected significant widths of high grade lead and silver mineralisation hosted within 50 metre thick intervals of banded iron sulphide formation rocks.

Red Metal’s new geological model for Maronan predicts that the thick intervals of iron sulphide mineralisation in MRN12003B could transition into thick intervals of silver, lead and zinc sulphide mineralisation towards the centre of the system (refer ASX announcement dated 31 October 2012).  The current step-out hole MRN12004 aims to validate this model by intersecting the central portion of the mineralised system about 150 metres north and 250 metres above the MRN12003B intersection.

Download this announcement (683kb pdf)