Red Metal Limited

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McArthur Basin

The McArthur Basin is part of an extensive belt of Middle Proterozoic sediments which extend from the northwest region of Queensland through to the northeast region of the Northern Territory.

Significant Stratiform and Stratabound-Replacement styles of lead-zinc-silver deposits are known within these sedimentary basins including the McArthur River (HYC), Century, Mount Isa, Hilton, George Fisher and Lady Loretta deposits.  The McArthur Basin also offers scope for large Sediment-Hosted copper deposits with characteristics similar to those in the Zambian Copper Belt and the Kupferschiefer district in Poland.

Recent exploration success on the Teena project by Teck has highlighted the potential for additional large stratiform deposits within this fertile terrain.

 

              

 

Mallapunyah: Zinc-Lead-Silver and Copper

In late 2017, Red Metal executed an option and joint venture agreement with global miner MMG Limited (MMG) - refer to Red Metal ASX announcement dated 4 December 2017.

Under the Mallapunyah agreement MMG will finalize land access negotiations towards grant of the tenement.  Once granted MMG will have the right to earn 70% of the project by completing a bankable feasibility study within seven years.  Importantly, Red Metal’s 30% equity will be free carried to a decision to mine.

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.