Red Metal strips rare earths impurities in QLD metallurgical breakthrough
Red Metal also conducts impurity removal trials and column leaching tests to improve metal recoveries and validate bottle spin tests.
Management believes that completing various metallurgical tests on the ore allows it to better understand its processing and extraction potential before embarking on expensive drilling programmes.
A phased drilling program to take the mineralization beyond known boundaries has now been completed. To prove the continuity of the slope, an area of 8 km by 3 km was tested and 120 holes were drilled along 8,171 m.
Two high-grade mineralization zones, each approximately 1 kilometer wide, have been uncovered and have large tonnage potential. Once the results of the presented analyzes are received, the company will complete infill drilling to upgrade a mineral resource and initiate a mining operation.
Red Metal is drilling extensively on two separate, high-impact fronts at its Pulkarrimarra and Pardoo copper-gold projects in the Pilbara, Western Australia. It is financing the aggressive move with a massive cash injection of $2.5 million, secured through the exercise of unlisted options ahead of the latest quarterly report.
The company is now well positioned to achieve its Western Australian copper-gold targets after successfully completing its capital raise in September and October, during which over 20 million options were exercised.
The vote of confidence extends directly to the boardroom. Red Metal Directors Russell Barwick and Robert Rutherford significantly increased their direct stake by personally exercising more than 1 million options at $0.13 per share on October 29th. Rutherford’s total shareholders currently hold over 14.9 million shares.
Funds are currently being funneled into what the company hopes will be two world-class hunting grounds. Red Metal is currently powered by high priority gold target YE02 from Rio Tinto’s Winu discovery at its Pulkarrimarra project in the state of Paterson.
Geological thinking is sound; The target is a large, high-resistivity feature that likely reflects potential gold-copper mineralization, similar to that seen at Winu.
The second major Pilbara campaign is underway on the Pardoo project, which is testing separate magnetic targets within the highly prospective Hemi structural corridor. Red Metal has completed its first reverse circulation (RC) drilling program on two proof-of-concept targets; drilling chips have now been logged and sampled.
Red Metal has a significant presence with a 35.8 percent stake in Maronan Metals, which recently published a strong Preliminary Economic Assessment (PEA) on the shallow Start Zone.
Maronan owns a pair of 30 million tonne deposits near Cloncurry in Queensland. Red Metal’s 88.5 million shares in Maronan Metals, trading at 0.31 per share at the end of October, represent an investment of approximately A27.4 million; this is a strong, liquid asset that supports the explorer’s valuation.
Red Metal is systematically advancing the Sybella rare earth project towards a scoping study planned for 2026. This isn’t a distraction; It is a clear path to production focused on capital discipline.
The advanced comminution studies and innovative ion exchange resin tests discussed aim to identify a low capital cost, low operating cost heap leach processing option. The major column leaching test study is now scheduled to begin in mid-November 2025, with results available in the new year.
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