Red Metal Limited

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Home Projects By Province Carpentaria Province
Carpentaria Province - QLD

The Carpentaria Province has been the focus of most of the Company’s exploration since inception in 2003.  This province hosts multiple Tier 1 zinc-lead-silver deposits and significant copper-gold and copper-cobalt deposits and is one of the most productive zinc, lead and silver geological terrains in the world.  Recent exploration success on the Teena project by Teck has highlighted the potential for additional large stratiform deposits within this fertile terrain.

Maronan Project: Silver-Lead & Copper-Gold

The Maronan lead-silver and copper-gold project is a large base metal deposit that Scoping Studies suggest is worthy of full Feasibility Study evaluation.

Maronan has JORC 2012 compliant Inferred Resources of 30.8Mt @ 6.5% lead with 106g/t silver (using a 3% lead cut-off grade) plus 11Mt @ 1.6% copper with 0.8g/t gold (using a 1.0% copper cut-off grade). With over 100 million ounces of contained silver, Maronan is one of the largest undeveloped silver resources in Australia.

The lead and silver mineralisation is soft, coarse grained and preliminary metallurgically tests returned recoveries of between 92-96% for the lead and 91-94% for the silver. Applying current commodity prices and exchange rates to the 2016 preliminary mine scoping study for Maronan has shown that the resource grade of 6.5% lead with 106g/t silver is equivalent to a lead grade of 10.2%. This is equivalent to a copper grade of about 3.4%.

The deposit comprises multiple ore horizons with steep dipping planar geometries and excellent hangingwall and footwall ground conditions. Sulphide mineralisation comes to within about 90 metres of surface.

In addition, Red Metal recognizes vectors within the deposit that support the concept for a large, higher grade Cannington style silver-lead-zinc deposit and enriched copper-gold system at depth below the existing resources.

 

Mount Skipper Project: Lead-Zinc-Silver

The Mount Skipper magnetic anomaly is interpreted as a Cannington geophysical look-alike located only 90 kilometres south of the Cannington mine and buried under 480 metres of younger sedimentary cover.

A diamond cored drill hole, MSD19001A (950.8 m) was completed in August 2019.  The hole intersected unusual coarse-spotted cordierite and spotted sillimanite-quartz rock types.  These unusual rock types are typical of metamorphosed alteration (or halo rocks) proximal to metamorphosed massive sulphide deposits as seen surrounding large lead-zinc-silver deposits of Cannington and Broken Hill.  A narrow interval containing semi-massive pyrite bands with traces of weakly magnetic pyrrhotite and chalcopyrite is encouraging.

Assays from MSD19001A returned anomalous low-level values of zinc, lead, copper and silver particularly from a banded pyritic interval towards the end of the hole.  The best one meter sample assayed 1140 ppm zinc, 700 ppm lead, 525 ppm copper and 1 ppm silver.  Metal and trace elements values and weak magnetic susceptibility levels show a general increase down the hole suggesting the hole stopped short of the target zone.

Although some very encouraging rock types and geochemical signatures were intersected by the drill hole, no significantly magnetic source rocks were encountered and the magnetic bullseye anomaly remains untested.  Re-modelling of the magnetic data places the centre of the magnetic body about 200 metres north of the first hole and a follow-up drill hole has been designed to test the anomaly.

    

 

Mallapunyah: Zinc-Lead-Silver and Copper

The Mallapunyah project is located within the highly prospective McArthur Basin and targets zinc-lead-silver deposits similar to the giant McArthur River and Century mines as well as sedimentary-hosted styles of copper mineralisation.   Recent success on the Teena project by Teck has highlighted the potential for additional deposits within this fertile terrain.

 

Lawn Hill: Zinc-Lead-Silver-Copper 

This exciting project targets a range of new zinc deposit styles in the vicinity of the giant Century zinc-lead-silver deposit.  Red Metal, under the alliance with OZ minerals, holds key titles along trend from the giant Century zinc-lead-silver deposit where it has been targeting a range of new zinc and copper deposit styles.

With funding from OZ Minerals, the Company proposes to utilize deep penetrating, magneto-telluric (MT) surveying to map prospective stratigraphy and traps sites for proof of concept drill testing.  

 

 

Gulf Project: Copper-Gold

The Gulf project incorporates multiple exploration tenements over several standout geophysical anomalies in an under explored extension to the Cloncurry terrain which offers scope for large Iron Oxide Copper-Gold (IOCG) breccia systems.

Infill gravity surveys have been completed over ten of the Gulf tenements.  Modelling of this new data has identified several combined magnetic and gravity targets as priority for proof of concept drill tests.  OZ Minerals have allocated a budget to drill test two key geophysical targets on Gibson’s Tank in 2020.

 

  

Three Ways Project:  Zinc-Lead-Silver & Copper-Cobalt

The Three Ways project encloses a new, previously unrecognised, zinc and copper prospective sub-basin with no past drill history located some 130 kilometres along trend from the recently commissioned Dugald River zinc-lead-silver mine.

 Zinc prospective host sequences in sub-basins such as these are highly conductive and often associated with a low magnetic response - making them detectable with combined electromagnetic and magnetic geophysical techniques.  These conductive pyritic formations are also the preferred host rocks for structure controlled Sediment-Hosted deposits such as the Mount Isa copper mine.

A new and innovative magneto-telluric (MT) survey designed to map and prioritize highly conductive, zinc and copper prospective stratigraphy within the newly interpreted Three Ways sub-basin was completed in 2019.

The MT survey was designed to map and prioritize highly conductive, zinc and copper prospective basement rocks in regions where the younger sedimentary cover sequences are thick, strongly conductive and inhibit conventional electrical geophysical techniques.  Final processing indicates this groundbreaking approach is successfully penetrating through the cover sequences and mapping strong conductive trends in the deeper basement rocks - a key first step towards locating giant zinc and copper deposits in the Mount Isa region.

One and two dimensional modelling of the MT survey data has prioritized several targets for proof of concept drill tests.  OZ Minerals have allocated a budget to test three separate target types in 2020.