Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from Red Metal Limited ( (AU:RDM) ).
Red Metal Limited reported initial drilling results from its Pardoo Gold Project in the Pilbara, where five wide-spaced reverse circulation holes tested two geophysical targets, Pardoo 2 and Pardoo 3, for orogenic and Hemi-style gold mineralisation. While no ore-grade gold was intersected in the basement rocks, the company identified weakly anomalous gold values in the younger sedimentary cover immediately above the basement across all holes, with gold, arsenic and antimony values increasing towards the southeast, potentially providing a vector to nearby mineralisation. On this basis, Red Metal is considering a follow-up exploration program along a three-kilometre section of the sheared granite–greenstone contact to further assess the speculated gold potential and refine its targeting in the area.
The most recent analyst rating on (AU:RDM) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Red Metal Limited stock, see the AU:RDM Stock Forecast page.
More about Red Metal Limited
Red Metal Limited is an Australian mineral exploration company focused on discovering gold and base metal deposits, with current activity including the Pardoo Gold Project in the Pilbara region of Western Australia. The company targets orogenic and Hemi-style gold mineralisation within key structural corridors, positioning itself within one of Australia’s most prospective gold regions.
Average Trading Volume: 454,956
Technical Sentiment Signal: Buy
Current Market Cap: A$69.04M
For detailed information about RDM stock, go to TipRanks’ Stock Analysis page.