Copper-Gold Projects
Targeting Australia’s Next Major Copper-Gold Discovery
A funded search for the next major copper-gold discovery.
Long-established “Big Copper” strategy
Exposure to giant copper-gold, zinc-lead-silver and gold targeting across Australia.
Proven exploration capability
The same technical team and exploration strategy that identified and defined Maronan and discovered Sybella.
Capital-efficient portfolio
JV partners and government grants fund or co-fund a significant portion of exploration activity.
Red Metal’s copper-gold portfolio targets large, structure-controlled and Iron Oxide Copper-Gold (IOCG)-style deposits; the mineral system behind major Australian mines including BHP’s Carrapateena, Ernest Henry and Nifty.
Our projects sit deliberately close to this proven mineral fertility and infrastructure: Pernatty Lagoon 30 kilometres from Carrapateena in South Australia, Gulf and Corkwood along the same Cloncurry structural corridor as Ernest Henry in Queensland, and Pulkarrimarra within the tier-one Paterson Province alongside Telfer, Nifty, Winu and Havieron in Western Australia.
The Company’s exploration model has a strong track record: regional drilling at Gulf has already intersected fertile IOCG breccia systems consistent with the Ernest Henry model, and historic drilling at Jimmy’s Creek returned intercepts including 153 metres at 0.41% copper, 0.1g/t gold and 10g/t silver.
It’s the same approach that generated Red Metal’s Maronan discovery, advanced to spin out as the separately ASX-listed Maronan Metals (ASX: MMA) and returned directly to shareholders in 2026. Further proof that this exploration model can convert into standalone, tradeable value.
Pulkarrimarra Project, WA
100% RDM | Paterson Province | Maiden drilling intersected favourable copper host stratigraphy
Our Pulkarrimarra project takes in the underexplored northern extension to the Paterson Province where it passes under 300-400 metres of younger sedimentary cover. Sedimentary-Hosted copper deposits and Intrusion-Related Gold-Copper targets are the priority.
Our maiden, four-hole, diamond core drill program on targets YW06, YW18, YE02 and YE03 was completed late in 2025, funded in part by BHP under the Greenfields Alliance and with grant support from the Western Australian Government under their Exploration Incentive Scheme.
Paterson Province Pulkarrimarra Project (previously Yarrie): Magnetic imagery overlain by the recently flown airborne electromagnetic and magnetic survey areas (frosted white) showing the Nifty mine, Telfer mine, Winu and Havieron discoveries and Red Metal’s Pulkarrimarra tenements (red line).
Pernatty Lagoon Project, SA: Copper-Gold
90% RDM | 5km x 3km untested skarn copper-gold target | 224m @ 0.29% Cu near-miss | 30km south of Carrapateena
Located 30 kilometres south of BHP’s large Carrapateena copper-gold deposit in the Gawler Craton, the project targets giant skarn style deposits where the regional IOCG mineral systems invade carbonate host rock types.
Recent three-dimensional magnetic and gravity modelling has successfully imaged a previously unrecognised granite intrusion thought to be the local heat and potential metal source driving strong skarn alteration and copper mineralisation in this area. Integration of this deep modelling with the existing drill data has prioritised separate, previously untested, magnetic and gravity targets for drilling. Heritage surveying in preparation for drilling is planned.
Three-dimensional magnetic inversion model (top) and gravity inversion model (bottom) showing east-west sections viewed facing north to a depth of 5 kilometres, with interpreted geology and near-miss drill holes.
*Refer Red Metal ASX announcement dated 11 April 2019.
Callabonna Project, SA: Copper-Gold
Chalice Mining JV | Large breccias identified in district | Three priority basement targets committed for drilling
Located along the northern margin of the Curnamona Province, this frontier project targets several large magnetic and gravity targets for large IOCG breccia deposits.
Limited historic drill tests in the region have shown the existence of large IOCG breccia systems, underlining the high potential of geophysical targets in this region. Three-dimensional modelling of magnetic and gravity data sets and passive seismic surveying has been utilised to prioritise key targets for drilling. Heritage surveying in preparation for potential drilling is planned.
Red Metal South Australian Projects: Grey scale magnetic image with main project locations.
Nullarbor Project, WA: Copper-Gold, Copper-Nickel
Artemis-funded drilling | Partner can earn 60% through $5M exploration spend
Located within the frontier Nullarbor region of Western Australia, this project represents a rare Australian first-mover opportunity. New geophysical and basement rock data interpreted by the GSWA and Geoscience Australia has outlined what could be exciting new copper provinces in these remote and poorly explored provinces. Scope for a large IOCG system, niobium and rare earth carbonatite, or intrusion-hosted copper-nickel deposit are all in play.
More recently, Red Metal executed a joint venture agreement with Artemis Resources (ASX: ARV) on the standout Sharon Dam magnetic and gravity target. Under the agreement, Artemis will drill the first proof-of-concept test on this exciting target, then have the right to earn 60% of the tenement by spending $5 million over the next three years.
Nullarbor Project: Sharon Dam RTP magnetic image overlain by 1VD gravity contours showing planned location of first diamond drill hole (refer Artemis ASX announcement dated 18 August 2025).
Gulf / Corkwood / Three Ways, QLD
Mount Isa Inlier | Multiple IOCG targets along trend from Ernest Henry | Historic intercept of 153m @ 0.41% Cu | Government co-funded drilling | New IOCG breccia system recognised | Portfolio expanded
Carpentaria Province with major mines and prospects and Red Metal project locations.
Northward extension of the Cloncurry Terrain: grey scale magnetic image overlain by colour gravity image showing Red Metal project locations.
Corkwood Project: Copper-Gold
The Corkwood project is situated about 100 kilometres northwest of Glencore’s large Ernest Henry copper-gold mine and about 60 kilometres north of the advanced Little Eva copper-gold deposit. Historic exploration drilling over the project has identified favourable porphyritic volcanic host rocks, alteration, trace-element geochemistry and low-grade copper and gold mineralisation typical of that observed in the halo surrounding the Ernest Henry deposit.
Exploration this field season will give priority to the Jimmy’s Creek prospect where past drilling identified wide intercepts of copper and gold with some silver mineralisation associated with a weakly magnetic breccia in a felsic volcanic host rock (refer to Red Metal ASX announcement dated 27 January 2011).
Better results included:
- 153 metres at 0.41% copper, 0.1 g/t gold, 10 g/t silver in drill hole CW-10-11, including 32 metres of higher grade at 1.16% copper, 0.3 g/t gold and 24 g/t silver;
- 211 metres at 0.33% copper, 0.2 g/t gold in drill hole BMD21; and
- 124 metres at 0.27% copper, 0.1 g/t gold in drill hole BMD17.
Three-dimensional modelling of the magnetic data with this drill data has identified potential for higher-grade extensions down-plunge or along-strike from the existing intercepts for follow-up drill tests.
Corkwood Project: Three dimensional view of Jimmy’s Creek prospect showing interpreted down plunge extension to wide zone of low grade copper that remains to be drill tested.
Brunette Downs / Mallapunyah, NT
Frontier sedimentary-hosted copper-cobalt plays
Located in the Northern Territory, this conceptual project targets large Sedimentary-Hosted Copper on the margin of the Greater McArthur River Basin or base of the Georgina Basin. A magneto-telluric survey line completed by Red Metal successfully confirmed the presence of flat-lying conductive stratigraphy – a key host rock for Sedimentary-Hosted copper-cobalt mineralisation. A proof-of-concept drill hole is recommended.
Brunette Downs: 2D resistivity inversion highlighting flat lying conductive stratigraphy.
Pardoo Project, WA: Gold
100% RDM | Hemi structural corridor | Anomalous gold defines a 3km long vector | Drill ready
Our Pardoo project is located within the highly sought after Pilbara Craton which hosts the giant Hemi gold deposit, the subject of a AUD 6 billion takeover from Northern Star Resources.
Recently, five wide-spaced RC percussion holes on two sections located about 3 kilometres apart were drilled across the separate Pardoo 2 and Pardoo 3 geophysical targets seeking orogenic or Hemi-style gold mineralisation (refer to Red Metal announcement dated 28 January 2026).
Assays reveal intriguing weakly anomalous gold values in the younger sedimentary cover sequences located immediately above the basement in all holes. On both drill traverses the gold tenor above the basement unconformity appears to be increasing towards the southeast, potentially providing a vector towards nearby gold mineralisation. Arsenic and antimony trace elements in the basement rocks also show a general increase in tenor towards the southeast, supporting this hypothesis.
A follow-up program assessing the speculated gold potential further towards the southeast along a three kilometre portion of the sheared granite-greenstone contact is being considered.
Pardoo Project: location within the Pilbara Craton showing the Hemi gold deposit, regional mineral occurrences and Red Metal tenements (red outline).
Pardoo drill section (holes 25PRC004 and 25PRC005): gold tenor in cover increasing towards the southeast, with the speculated location of gold in basement.