The Curnamona Province is a large sub-circular mass of Early Proterozoic to Middle Proterozoic crystalline rocks straddling the border with South Australia and New South Wales. Less than 15% of the terrain is exposed with younger sedimentary cover ranging in thickness from 1 to 600 metres. Mineralisation in the exposed regions includes the giant Broken Hill lead-zinc-silver ore bodies and numerous other copper, gold, base metal and uranium occurrences. The Curnamona Province is prospective for Iron-Oxide Copper-Gold (IOCG) style mineralisation, Mount Isa-style copper mineralisation as well as stratiform styles of lead-zinc-silver mineralisation and uranium in basement rocks and overlying sediments.
Frome Joint Venture Project
The Frome Joint venture project (Red Metal earning 70% from Variscan Mines Limited) covers tenements located in the north-western portion of the metal-rich Curnamona Province, targeting Olympic Dam style mineralisation in the basement rocks.
Under the terms of the heads of agreement, Red Metal can earn 51% by spending $1M on exploration and can elect to spend an additional $2M to earn a 70% equity.