|Maronan Deposit - Summary of Inferred Resource Estimates|
Red Metal is pleased to announce the results of maiden, JORC (2012) compliant, resource calculations on the separate lead-silver and copper-gold deposits at Maronan.
Cross section and level plans have been prepared providing lead grade envelope interpretations of the multiple lead-silver horizons. Resource estimates have been made applying a range of lower cut-offs to the lead grade as an aid to determining which parameters could best enhance the projects economics. The resource estimates for the fresh lead-silver mineralisation have defined an inferred resource of:
7.0 Mt at 10.68% lead and 144 g/t silver using a ≥8% lead cut-off grade;
19.2 Mt at 7.91% lead and 114 g/t silver using a ≥5% lead cut-off grade;
30.8 Mt at 6.50% lead and 106 g/t silver using a ≥3% lead cut-off grade;
45.3 Mt at 5.05% lead and 86 g/t silver using a ≥1% lead cut-off grade.
Resource estimates for the separate copper and gold deposit using a lower cut-off grade at ≥0.5% copper defined a total inferred resource for the fresh and weathered mineralisation of:
19.2 Mt at 1.24% copper and 0.6 g/t gold.
Importantly, this work defined preferred regions of thicker and/or higher-grade lenses within the deposit and also identified priority areas which offer scope for defining mineable lenses at quite shallow depths including some within about 100 metres of surface. Both the lead-silver resource and copper-gold resource have steep west northwest plunges and remain open at depth.
Download this announcement (1.3Mb pdf)