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Red Metal Limited ( (AU:RDM) ) has provided an announcement.
Red Metal has completed a maiden four-hole diamond drilling program at its Pulkarrimarra copper and gold project in Western Australia’s Paterson Province, testing both sedimentary-hosted and intrusion-related mineralisation targets. The campaign, partly funded by alliance partner BHP, aimed to identify key stratigraphic hosts and alteration systems analogous to major regional deposits.
At Pulkarrimarra West, two stratigraphic holes intersected Broadhurst Formation sediments, including strongly pyritic and carbonaceous shales considered the favourable host rocks for Nifty-style sedimentary-hosted copper, although assays returned no significant copper intercepts. Petrological work has identified finely disseminated copper sulphides with syn-sedimentary and vein pyrite, prompting plans for magnetotelluric surveys to rank dome-shaped anticlinal structures for further drilling.
On the Pulkarrimarra East tenements, drilling of a magnetic target intersected strong actinolite-feldspar-biotite alteration and veining interpreted as a possible near-miss to intrusion-related copper-gold mineralisation. Red Metal is now planning follow-up programs across both the western and eastern areas and has submitted applications for state exploration incentives, signalling continued commitment to advancing the project despite the early-stage, non-economic assay results.
More about Red Metal Limited
Red Metal Limited is an Australian mineral exploration company focused on copper and gold projects, with activity in the Paterson Province in the Pilbara region of Western Australia. The company targets sedimentary-hosted and intrusion-related copper and gold systems near established operations such as the Telfer gold mine and the Nifty copper mine, aiming to discover large-scale, tier-one style deposits.
Average Trading Volume: 500,534
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$53.7M
For detailed information about RDM stock, go to TipRanks’ Stock Analysis page.