Red Metal Limited

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Home Investors ASX Announcements Assay Results from hole MRN13001, Maronan Project, NW Queensland
Assay Results from hole MRN13001, Maronan Project, NW Queensland

Assay results from the wide interval of iron and copper sulphide veining (Copper Vein Zone) in MRN13001 has returned 115 metres at 0.8% copper and 0.5 g/t gold (or 1.1% copper equivalent) including 13 metres at 1.6% copper and 1.0 g/t gold and 9 metres at 2.1% copper and 1.4g/t gold.

This result is the widest interval of copper and gold mineralisation intersected in the Copper Vein Zone to date  and lends support to Red Metal’s copper-gold model that predicts shallower zones of stronger mineralisation approaching the hinge zone to the northern fold structure.

Application of modern ground-based LANDTEM electromagnetic technology over the northern hinge zone target has highlighted a strong conductive zone along the eastern limb of the fold structure. While still to be modelled this target is located about 200-400 metres below surface and possibly east of any previous drilling.

Three dimensional modelling using the new LANDTEM data and existing down-hole electromagnetic data has been initiated to better locate the conductors and assist in the design of a follow-up drill program.

Recent step-out drilling and detailed geophysical surveying has highlighted potential for shallower zones of copper and gold and possibly lead-silver mineralisation below the northern hinge zone target that are worthy of drill testing.

 

Download this announcement (1550kb pdf)