Red Metal has lodged 17 new tenement applications around its Gulf and Three Ways projects as it pursues its ‘big copper’ strategy.

The strategy sees the ASX-listed explorer targeting giant IOCG (iron-oxide copper-gold) discoveries along the lines of the Ernest Henry deposit near Cloncurry and the Oak Dam deposit in the Gawler Craton.

“Previous drilling on our Gulf project has identified fertile hematite-style IOCG breccias within Queensland’s Cloncurry terrain – potentially a first for this province,” Red Metal (ASX: RDM) managing director Rob Rutherford said.

“These hematite-style breccia have us excited because they share many geological characteristics with those hosting the giant copper-gold deposits in South Australia’s Gawler Craton – watch this space.”

The new applications cover targets outlined by a recent regional airborne gravity survey flown by the Geological Survey of Queensland and Geoscience Australia.

Related: Column tests point Red Metal toward heap leaching at Sybella

Red Metal is piggybacking on that work with a high-resolution airborne gravity survey covering further prospective terrain to the east.

It is also about to drill a target at the Gibson Tank tenement within the Gulf project.

The drilling there will be part funded by a collaborative drilling grant from the Queensland Government totalling $200,000.

Drilling is also planned at Three Ways, where the company said a large untested copper target remained open.

A hole last year missed the core of the target 132 magnetic model due to drilling deviation, leaving this Mount Isa-style structural target available for the planned second hole, Red Metal said.

Red Metal said the 17 new tenement applications would be evaluated and targets prioritised for future drilling campaigns.

The new and existing applications cover 5800sq km of terrain that Red Metal considers highly prospective for IOCG deposits.

Red Metal is also advancing the Sybella rare earth project south-west of Mount Isa.