RDM ASX Announcement 23 October 2013
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ACN 103 367 684
ASX ANNOUNCEMENT 23 AUGUST 2016
ASX Code: RDM
Red Metal Limited
is a minerals exploration company focused on the exploration, evaluation and development of Australian copper-gold and basemetal deposits.
Issued Capital:
174,771,919
Ordinary shares
5,800,000
Unlisted options
Directors:
Rob Rutherford
Managing Director
Russell Barwick
Chairman
Joshua Pitt
Non-executive Director
RED METAL LIMITED
Level 15
323 Castlereagh Street
Sydney NSW 2000
Ph: +61 2 9281 1805
Fax: +61 2 9281 5747
[email protected] www.redmetal.com.au
IRINDINA COPPER-COBALT PROJECT: DRILLING UPDATE
First pass drilling on the Irindina copper-cobalt project testing a very strong electromagnetic conductor and a nearby five kilometre long by one kilometre wide multi-element soil geochemical anomaly has been completed.
A 240 metre deep percussion hole directed towards the electromagnetic conductor intersected graphitic shales with minor iron sulphides from 106 to 170 metres. Abundant fine graphite in the thick shale sequence is interpreted as the most likely source to the strong conductivity anomaly measured at surface. No visible copper mineralisation was identified.
Several shallow air core holes were drilled across the extensive multi-element geochemical anomaly but no visible copper mineralisation was logged.
Although assay results for base metals, gold and other trace elements are pending, the lack of visible copper mineralisation in the holes has down-graded this project.
Red Metal's exploration team will now focus their efforts towards advancing the company's exciting new zinc targets on the Lawn Hill project.
Queensland Explorer of the Year 2013
5km x 1km Soil Anomaly Strong Basement Conductors Nearby
[Figure 1] Irindina Project: Regional geological setting, significant known copper mineralisation in the belt and location of Red Metal's Irindina exploration tenements. Note the high-grade potential shown at Jervois, Home of Bullion and Johnnies Reward and the large tonnage potential of the Basil prospect. Red Metal speculates that large, base metal rich deposits may exist within the Irindina project.
Graphitic Shale Source to Conductor
5km x 1km Soil Anomaly
First Pass Aircore Drilling Completed Assay Pending
[Figure 2] Irindina Project: Residual magnetic image of the Irindina Province and regional soil traverses with thematic presentation showing the sum of median normalised values for copper, cobalt, lead, zinc, antimony and tin. Moving loop electromagnetic surveying trialled along several anomalous geochemical lines has identified two conductors below and adjacent to the large soil anomalous region.
For further information concerning Red Metal's operations and plans for the future please refer to the recently updated web site or contact Rob Rutherford, Managing Director at:
Phone +61 (0)2 9281-1805
Fax +61 (0)2 9281-5747
www.redmetal.com.au
Rob Rutherford Russell Barwick
Managing Director Chairman
The information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Robert Rutherford, who is a member of the Australian Institute of Geoscientists (AIG). Mr Rutherford is the Managing Director of the Company. Mr Rutherford has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Mr Rutherford consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
[Table 1] Irindina Project: JORC 2012 sampling techniques and data
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Criteria
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JORC 2012 Explanation
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Commentary
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Sampling Techniques
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Nature and quality of sampling
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Wide spaced soil sampling orientation survey lines were collected across interpreted structural, geophysical and stratigraphic targets. The soil type is predominantly windblown sand.
Widely spaced, ground-based moving loop and some fixed loop electromagnetic survey lines were trialled across several geochemical targets. This surveying was designed to detect possible massive sulphide mineralisation below or near the lines of anomalous soil geochemistry.
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Include reference to measures taken to ensure representativity samples and the appropriate calibration of any measurement tools or systems used.
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The soil samples were sieved to the same size fraction to help ensure sample representativity. Two sieved size fractions were trialled.
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Aspects of the determination of mineralisation that are Material to the Public Report.
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It is uncertain at this stage if the low-level anomalism detected in the windblown sands is being sourced from buried sulphide mineralisation or simply reflects natural variations at the surface.
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Quality of assay data and laboratory tests
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The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
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The soil samples were analysed using a high quality ICP/MS technique appropriate for low level determinations of gold and base metals in soils. The method utilised aqua-regia digest on 10 grams of sample.
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For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
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No geophysical tools were used to determine element concentrations at Irindina
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Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
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Laboratory standards and blanks were used. On site replicates and duplicates samples were collected at 17 sites. Results highlight that the sample assay values are accurate and that contamination has been contained. Duplicate analyses by the laboratory reveal the precision of the analysis is within acceptable limit. Repeating the sampling at a nearby site 1-2metres from the original site produced repeatable results in all elements except antimony which was highly variable between batches.
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Verification of sampling
and assaying
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The verification of significant intersections by either independent or alternative company personnel.
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Red Metal's senior geologist and Managing Director reviewed the data interpretation
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Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
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Primary data was entered in the field into a portable logging device using standard drop-down codes. Text data files are exported and stored in an Excel and Access databases. MapInfo software is used to thematically present the data.
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Discuss any adjustment to assay data.
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No data has been adjusted
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Location of data points
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Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
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Hand portable GPS accurate to within about 5 metres
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Specification of the grid system used.
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MGA94 Zone 53
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Quality and adequacy of topographic control.
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Not relevant
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Data spacing and distribution
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Data spacing for reporting of Exploration Results.
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The sample lines are very widely spaced varying from single lines to 4- 2km spaced lines (Figures 2 and 3). Along the lines samples are collected every 100metres.
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Whether sample compositing has been applied.
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No sample compositing has occurred
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Sample security
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The measures taken to ensure sample security.
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Samples transported directly from the field to the laboratory by Red Metal personnel
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Audits or reviews
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The results of any audits or reviews of sampling techniques and data.
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No review or audits have been undertaken at this early stage of the project
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