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Home Investors ASX Announcements Drilling Assay Results from hole MRN12004B, Maronan Project, NW Queensland
Drilling Assay Results from hole MRN12004B, Maronan Project, NW Queensland

Assaying has revealed multiple lead-silver horizons including seven intervals of strong mineralisation over potentially mineable widths in the upper and lower banded lead sulphide zones.  These have a combined true width of 21 metres.

In the upper zone a 2.3 metre true width interval graded 9.6% lead, 122g/t silver and 0.36g/t gold, a 5.4 metre true width interval graded 7.4% lead, 71g/t silver and 0.10g/t gold while a parallel zone only 7 metres away graded 7.0% lead and 29g/t silver over a 5.7 metre true width interval.

Strong mineralisation within the lower banded carbonate-lead sulphide zone graded 5.3 % lead and 62 g/t silver over a true width of 6.1 metres.  A second parallel zone returned an impressive 16.5% lead and 592g/t silver over a 1.6 metre true width.  This very high silver interval is interpreted to correlate with the high silver results in MRN12003B located 155 metres to the south.

MRN12004B is only the second hole to intersect the newly discovered lead-silver sulphide horizons below the base of oxidation and potential for further wide zones of primary lead and silver mineralisation exists to the north and at depth.

Drill holes MRN12004B and MRN12003B highlight the good continuity and thickness of the banded carbonate-lead-silver sulphide horizons.  The number of potential ore horizons and their combined true thickness show a general increase towards the north and it is hoped this trend will continue as step-out drilling approaches the northern fold structure.

Drill results are in keeping with Red Metal’s geological model which predicts that the multiple lead-silver sulphide horizons in MRN12004B could transition into thicker more massive intervals towards the north or at depth.  Structurally thickened and enriched intervals of silver-lead mineralisation occur at the hinge zones to folds within the giant Cannington and Broken Hill deposits and similar potential is inferred to exist at Maronan below the northern fold structure.

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