|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.
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