Red Metal Limited

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Home Investors ASX Announcements Yarrie Project, Paterson Province, Western Australia: Key Tenements Granted
Yarrie Project, Paterson Province, Western Australia: Key Tenements Granted
Red Metal’s high priority tenement applications located along trend from Rio Tinto’s new Winu copper and gold discovery and the Nifty copper mine have been granted allowing first pass exploration programs to begin.
These highly sought after tenement applications were secured in 2018 shortly before the announcement of the exciting Havieron and Winu discoveries in 2018 and 2019 respectively.
Preparations for a modern, low frequency (6.5Hz), airborne electromagnetic survey are underway. This survey plans to cover a total 2956 line-kilometers along flight lines spaced 400 metres apart and is anticipated to begin in June 2021.
The new Havieron and Winu copper and gold discoveries have shifted the targeting strategies of many explorers active in the Paterson Province of Western Australia leading to a boom in the use of modern electrical geophysical survey methods over this proven, yet under-explored, copper and gold terrain.
Processing of regional airborne gravity and magnetic surveys has allowed Red Metal to highlight Rio Tinto’s Winu discovery as a low-amplitude, bullseye magnetic target along a high-gravity ridge. Two very similar low-amplitude magnetic bullseye targets located along the same high-gravity trend are evident in Red Metal’s E45/5236 which are planned to be the focus of first-pass ground programs once the regional airborne electromagnetic survey has been completed.
The Yarrie project is funded by OZ Minerals (ASX: OZL) under the terms of the Greenfields Discovery Alliance.