Red Metal Limited

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Home Investors ASX Announcements Gidyea Copper-Gold Project Update
Gidyea Copper-Gold Project Update

The new Gidyea project targets several standout regional geophysical anomalies in an under explored extension of the Cloncurry terrain in Northwest Queensland which offer scope for the discovery of large Iron Oxide Copper-Gold (IOCG) breccia systems.

Processing and interpretation of the Company’s new gravity data in combination with the regional magnetic data has allowed Red Metal’s exploration team to interpret a variety of new IOCG plays.

Of particular interest are the standout magnetic targets GT19, GT20 and GT23 which have a similar geophysical expression and general geological setting to the large Ernest Henry copper-gold mine 100 kilometres to the south.  These magnetic targets appear to be structure controlled and occur in a low-density belt of rocks interpreted to contain the Mount Fort Constantine Volcanic units, the favorable felsic to intermediate volcanic rock types that host Ernest Henry.