Red Metal Limited

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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

The Pernatty Lagoon and Punt Hill projects are located less than fifty kilometres south of Oz Minerals large Carrapateena copper-gold deposit.

The strong alteration and encouraging mineralisation in the Pernatty Lagoon and Punt Hill region has encouraged over 44,356m of basement drilling from a number of companies  including Seltrust 3249 metres (1979-82), Red Metal 9942metres and Monax Mining 31165m.

Historic work mostly used gravity as a targeting tool and consistently intersected dense prograde massive garnet skarn in Wallaroo Group metasediments plus zones of patchy copper-gold and zinc mineralisation consider possible near-miss zones.  Mineralisation is strongest where retrograde alteration is strongest and specular hematite (weakly magnetic) or magnetite alteration are more abundant.  

Red Metal’s targeting in this region has shifted from a gravity only focus to targeting small or large amplitude magnetic anomalies within broader zones of high gravity.   This strategy could encounter either a) Carrapateena style hematite breccia in the Donnington Suite granite and Gawler Range Volcanic rock types or b) a giant  “Antamina-style” Cu-Au-Zn skarn system associated  with retrograde magnetite-hematite-chlorite alteration and brecciation of prograde garnet skarn rocks . 

This new approach to targeting has lead Red Metal to identify several targets for further evaluation including one high priority target (PH1) which has a similar geophysical response to that measured and modelled over the Carrapateena copper and gold deposit. 

The Pernatty EL 5107 is a joint venture with Havilah Resources Limited (Red Metal>87%).  The Punt Hill ELA 2017/00070 (Red Metal 100%) is expected to be granted shortly.


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.