Red Metal’s Sybella rare earth oxide (REO) discovery is located about 20km south-west of Mount Isa.

The mineral resource estimate defined large tonnages at good magnet rare earth oxide grades from surface including 4.795 Bt at 302 ppm NdPr (neodymium-praseodymium), 28 ppm DyTb (dysprosium and terbium), using a 200ppm NdPr cut-off grade.

Red Metal describes its REO discovery as unique, being a granite-hosted deposit type with characteristics that set it apart from clay-hosted and monazite-dominated REO deposits.

Early-stage drilling, metallurgical and comminution studies indicate a low-cost heap leach processing option may prove feasible.

In late 2025, Red Metal announced breakthrough results from trials on the use of ion exchange (IX) resins and initiated large column heap leach tests on a range of coarsely crushed rare earth ore types.

The company said ongoing column heap leach tests and ion exchange studies, comprehensive comminution research, together with planned infill drilling to an indicated resource level, would provide the key data necessary to advance the Sybella project towards pre-feasibility work in 2026.