Nullarbor Project: Copper-Gold, Copper-Nickel (Red Metal 100%)

The Nullarbor projects represent a rare Australian first-mover opportunity and four standout regional geophysical targets have been defined for proof of concept drill tests.

In January 2020, Red Metal finalised the proof of concept drill tests on the standout T8 and T13 geophysical targets.

The first drill test on the high magnetic target T8 intersected a magnetite-rich, gabbroic mafic intrusive rock containing high iron, titanium and vanadium with weakly anomalous levels of nickel, cobalt, sulphur and low copper and PGE contents. Drilling on the high gravity target T13 also intersected mafic intrusive gabbroic rock types that appear to explain the source to the gravity anomaly.

The proof of concept drilling on these geophysical targets failed to identify Olympic Dam style Iron Oxide Copper-Gold breccia systems.  As a consequence and after completion of funding requirements, OZ Minerals elected to withdraw the Nullarbor project from the ongoing Alliance Agreement.

Red Metal is currently assessing the trace element signatures of the mafic intrusions to determine their regional potential to concentrate magmatic nickel and copper sulphide ore deposits like Nova-Bollinger (located 270 kilometres to the west) and Nebo-Babel to the north.  Nickel major BHP Billiton Nickel West Pty Ltd also has a large tenement position in the region.

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