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Home Investors ASX Announcements Tennant Creek: Copper Drilling Underway
Tennant Creek: Copper Drilling Underway

A percussion drill program designed to test three separate magnetic targets, each with supporting copper and bismuth soil geochemistry, is underway on Red Metal’s Tennant Creek copper project. 

Red Metal has used high-resolution helicopter-borne magnetic surveying to define a number of magnetic targets situated in underexplored sand covered terrain 90 kilometres southeast of the Tennant Creek goldfield.  These targets model at shallow depths below less than 20 metres of younger  sand cover and offer scope for copper, gold and bismuth mineralisation associated with magnetite alteration.   

Clay-fraction soil sampling was trialed above nine magnetic targets with the aim of ranking the anomalies for drilling using pathfinder elements.  Encouraging low-level copper and bismuth anomalism was measured in soil samples collected above three of the blind magnetic targets (Red4S, Red4N and Red5) which are the focus of the current proof of concept drill program.

The program comprises 4 holes totaling 600 metres and Red Metal has been awarded up to $78,000 funding support under the Northern Territory Government’s collaborative drilling initiative. 

Download this announcement (1.7Mb pdf)