Red Metal Limited

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Home Investors ASX Announcements Red Metal secures potential strike extension to the large Mount Dromedary Graphite Deposit
Red Metal secures potential strike extension to the large Mount Dromedary Graphite Deposit
The large Mount Dromedary graphite deposit in the Cloncurry region of Northwest Queensland is one of the higher grade flake graphite deposits in the world and is currently being evaluated for potential commercial development by Graphitecorp Limited (ASX:GRA).
 
Historic airborne electromagnetic imagery maps the Mount Dromedary graphitic schists as a strong conductive trend extending north into Red Metal’s exploration licence application EPMA26125. Here it appears to bulge and thicken and is referred to by Red Metal as the “Bactrian” prospect.
 
Logs from historic copper exploration drilling located south and north of the Bactrian conductive trend record highly graphitic intervals of schist including 42 metres of coarse graphite from 30 metres in drill hole DO14.  The conductive zone within Red Metal’s tenure appears to extend for about 600 metres and remains to be evaluated for its coarse graphite potential.