Red Metal Limited

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Home Projects By Province Gawler Craton
Gawler Craton - SA

The Gawler Craton is a complex Archaean to Middle Proterozoic cratonic terrain located within South Australia. The eastern margin of the craton, referred to as the Olympic Domain, contains a number of world class iron-oxide copper-gold ± uranium deposits including the giant Olympic Dam mine, Prominent Hill mine and Carrapateena deposit.  In addition numerous advanced iron-oxide copper-gold projects occur within this terrain.

Interest in the Gawler Craton’s Olympic Domain remains high following BHP’s announcement in November 2018 of a world class intercept of 438 metres grading 3.0% copper with 0.6g/t gold at their historic Oak Dam West prospect. This spectacular result and positive follow-up results released on 17 October 2019 re-enforce the fertility of the Olympic Domain and the opportunity for other large high-grade discoveries.

  

 

Punt Hill and Pernatty Lagoon Project: Copper-Gold-Zinc (Red Metal 90%-100%)

These exciting projects are located 30 kilometres south of OZ Minerals’ large Carrapateena copper-gold deposit.

A maiden drill program has been completed testing a series of gravity targets.  The first hole at the priority PH1 target, a near coincident gravity and weak magnetic anomaly, intersected a 244 metre interval averaging 0.26% copper.  This mineralisation occurs as wide spaced chalcopyrite ± bornite veins with associated magnetite ± hematite.  The veins show more intense retrograde chlorite, K-feldspar and siderite alteration.  One of the better zones returned 35 metres @ 0.6% copper from 841 metres which included a 1% copper interval over the first 10.8 metres.

Red Metal believe the wide intervals of anomalous copper mineralisation, proximal magnetite-chlorite and feldspar alteration minerals and subsequent geophysical modelling suggest the hole is potentially proximal to a much more intensive base metal accumulation and step-out drilling directed towards the more magnetic portion of the anomaly is the priority.

Birthday Well Project: Copper-Gold-Zinc (Red Metal 100%)

This new project covers a standout, deep sourced, conductivity anomaly evident in a wide spaced, airborne electromagnetic survey flown by the Geological Survey of South Australia.

The conductivity anomaly appears coincident with a low-amplitude magnetic target and remains untested.  Red Metal is targeting high-grade Iron Sulphide Copper and Gold (ISCG) deposit types associated with highly conductive but weakly magnetic pyrrhotite.  Ground electromagnetic surveying will be used to validate the airborne anomaly.