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Tag: Red Metal

Red Metal to spin out key silver project

Written by dev on . Posted in All News, Copper, Exploration.

Red Metal proposes to spin out its silver-rich Maronan project through the listing on the ASX of its subsidiary Maronan Metals.

The company believes the spin out and related IPO will help fast-track development of the project, located about 60km south-east of Cloncurry in North-West Queensland.

Maronan Metals would raise up to $36 million to fund resource drill-out and feasibility programs.

With more than 100 million ounces of contained silver, the Maronan project is touted as one of the largest undeveloped silver resources in Australia.

Red Metal would retain about 50 per cent of Maronan. . .

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Red Metal drilling to test Cannington ‘look-alike’

Written by dev on . Posted in All News, Copper, Exploration.

A geophysical Cannington 'look-alike' is the focus of Red Metal's latest exploration work in North West Queensland following a $3 million capital raising.

The company says a second follow-up diamond core drill hole is underway on the Mount Skipper project, 90km south of the Cannington mine.

Assays from the first core into the standout Mount Skipper magnetic targetreveal anomalous low-level values of zinc, lead, copper and silver.

The best one metre sample assayed 1140ppm zinc, 700ppm lead, 525ppm copper with 1ppm silver.

The company believes that hole stopped short of the target zone, with metal and. . .

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Red Metal details North West exploration agenda

Written by dev on . Posted in All News, Copper, Exploration, Gold.

Red Metal has boosted its coffers with a $3 million share placement and is ready to roll out a range of exploration programs, including at the advanced Maronan silver-lead and copper-gold project in North West Queensland.

Preparations are underway to trial 2D seismic surveying over the deposit in an attempt to image the continuation of the mineralisation at depth.

With more than 100 million ounces of contained silver, Maronan is hailed as one of the largest undeveloped silver resources in Australia.

Red Metal said it had revisited the numbers from. . .

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Red Metal funds new exploration round

Written by dev on . Posted in All News, Copper, Exploration, Gold.

Red Metal has launched a share placement to raise $3 million for exploration priorities including a 2D seismic trial over its Maronan silver-lead project in North West Queensland.

With more than 100 million ounces of contained silver, Maronan is one of the largest undeveloped silver resources in Australia.

Maronan has a inferred resources of 30.8 million tonnes at 6.5 per cent lead with 106g/t silver (using a 3 per cent lead cut-off grade) plus 11 million tonnes at 1.6 per cent copper with 0.8g/t gold (using a 1.0 per cent copper. . .

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