Red Metal Strikes Sharon Dam IOCG Joint Venture with Artemis Resources

Red Metal Limited ( (AU:RDM) ) has shared an update.

Red Metal Limited has signed a joint venture agreement with Artemis Resources over the Sharon Dam magnetic and gravity anomaly in Western Australia’s Nullarbor region, a large, previously undrilled IOCG-style target with potential also for niobium, rare earth carbonatite and intrusion-hosted copper-nickel mineralisation. Under the deal, Artemis will fund an initial proof-of-concept drilling program and can earn a 60% interest in the tenement by spending $5 million over three years, with the first hole partly supported by Western Australian government EIS funding; the move strengthens Artemis’ emerging copper-gold position along the Madura Crustal Boundary while allowing Red Metal to advance a high-impact target with reduced capital risk, potentially enhancing both groups’ exposure to a frontier copper province if exploration success follows.

The most recent analyst rating on (AU:RDM) stock is a Hold with a A$0.11 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 large-scale base and critical metal deposits, including iron-oxide copper-gold (IOCG), niobium, rare earths and intrusion-hosted copper-nickel systems. The company targets underexplored frontier terrains in Western Australia and other craton-margin settings, using geophysical anomalies to identify high-impact exploration prospects.

Average Trading Volume: 472,582

Technical Sentiment Signal: Hold

Current Market Cap: A$47.94M

See more data about RDM stock on TipRanks’ Stock Analysis page.