Red Metal Limited

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Home Projects By Province Gawler Craton
Gawler Craton

 

The Gawler Craton is a complex Archaean to Middle Proterozoic cratonic terrain located within South Australia. The eastern margin of the craton, referred to as the Olympic Domain, contains a number of world class iron-oxide copper-gold ± uranium deposits including the giant Olympic Dam mine, Prominent Hill mine and Carrapateena deposit.  In addition numerous advanced iron-oxide copper-gold projects occur within this terrain.

  

 

Pernatty Lagoon and Punt Hill Copper-Gold Project

Red Metal has executed a Heads of Agreement with OZ Minerals Limited (OZ Minerals) to add momentum to the project under OZ Minerals management - refer to Red Metal ASX announcement dated 21 December 2017.

Upon execution, OZ Minerals promptly initiated land access discussions and together with Red Metal, started reassessing drill cores and ranking the targets in preparation for drilling later in the year. 

 

Ooldea-Barton Zircon Heavy Mineral Project

The Barton project covers Tertiary beach sands deposited in the Eucla Basin along the western margin of the Gawler Craton where Iluka Resources Ltd have discovered four significant zircon-rich heavy mineral sand resources, the Jacinth, Ambrosia, Tripitaka and Gulliver deposits.  More recently Dominion Mining Limited discovered a large area of greater than 1% heavy mineral sand at their Barton West project, northwest of Red Metal’s Barton tenement.     

Red Metal originally staked the Barton lease for heavy mineral (HM) sands after interpreting a prospective ancient shoreline and headland feature on the property.  This work successfully lead to a joint venture with Bemax Resources Limited (now Cristal Mining Australia Ltd) and the discovery of the large, but low-grade, Barton heavy mineral deposit.

Barton comprises an Inferred Resource, consistent with the 2004 JORC code estimated in October 2010, of about 285 million tonnes at a grade of about 1.9% heavy mineral (using a 1% cut-off grade).  The valuable mineral assemblage is approximately 46.8% total ilmenite, 8.3% total zircon, 2.6% total leucoxene, 2.2% total rutile and has a low clay content averaging about 1.8%.  The resource contains 2.6 million tonnes of ilmenite, with 460,000 tonnes of zircon, 140,000 tonnes of leucoxene and 120,000 tonnes of rutile.

In 2016 Cristal Mining Australia Ltd withdrew from the joint venture returning the large Barton deposit back to Red Metal (100%).

The potential for higher grade heavy mineral trap sites on the headland and embayment target immediately southwest from the Barton discovery remains untested and represents an exciting exploration opportunity. Red Metal is seeking joint venture funding from interested parties.