Pardoo Project: Gold
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 (Figure 1).
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.
[Figure: 1] Pardoo Project: Location relative to the large Hemi deposit on a grey-scale magnetic image.