Red Metal Limited

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Home Investors ASX Announcements Mt Skipper Project: Follow-up Drilling Completed
Mt Skipper Project: Follow-up Drilling Completed

The follow-up diamond core drill hole designed to test a regional magnetic anomaly was terminated at 1193.5 metres after intersecting a 153 metre interval of hydrothermal alteration and veining containing weak iron sulphide mineralisation and traces of copper sulphide mineralisation.

Down-hole electromagnetic surveying was attempted but had to be abandoned due to the high in-hole temperatures affecting the survey equipment. 

A deep penetrating ground electromagnetic survey technique (SQUID EM) is planned over the target in about 2 months and it is hoped this technique will help locate zones of strong copper sulphide mineralisation within the broader magnetic anomaly.

Detailed petrology and magnetic remanence tests will be conducted on the core to validate the magnetic source to the anomaly and help constrain future magnetic models. Assays for base metals, gold and other trace elements are pending. 

The drill rig has now mobilised to the Company’s Three Ways project to start a 2400m metre proof of concept drill program testing three separate, high conductance magnetotelluric (MT) anomalies.