Redstone Resources

1m @ 18.5% Cu (8m At 4.1% Cu) Extends High Grade Copper Zone At West Musgrave Highest Copper Grade Result Ever Recorded At Project

Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to announce that recently returned geochemical assay results have confirmed that the most recent RC drilling campaign on the Company’s 100% owned West Musgrave Project (the Project) has extended the high grade Cu lens zone at the Forio Prospect within the Tollu Cu Project (Tollu). Significantly, in one of the drill holes, TLC203, the highest Cu grade ever to be encountered at the West Musgrave Project was intersected with 1m at 18.5% Cu from only 18m downhole.


HIGHLIGHTS

  • Geochemical assays from the most recent reverse circulation (RC) drilling campaign confirm further significant high grade copper (Cu) mineralisation intersections at the Forio Prospect.
  • Significantly, the high grade intersections at Forio include the highest Cu grade ever intersected at the Tollu Copper Project with 1m at 18.5% Cu from 18m downhole (DH) in RC drill hole TLC203.
  • The significant high grade Cu intersections received so far from the most recent RC campaign include:
    • 8m at 4.1% Cu from 13m downhole depth in drill hole TLC203, including:
      • 1m at 18.5% Cu from 18m downhole.
    • 4m at 1.2% Cu from 45m downhole in drill hole TLC203.
    • 6m at 1.47% Cu from 80m downhole in drill hole TLC201.
  • These high grade Cu intersections in drill holes TLC201 and TLC203 extend Forio’s high grade Cu mineralisation zone to a 60m strike length (north and south) of continuous high grade copper (see Figure 2 and the long section in Figure 3).
  • The high grade Forio Cu Zone extends all the way to the surface with lenses of Cu mineralisation up to 34m thick (downhole) with average grades always over 1% Cu (34m at 1.04% Cu from 15m downhole in TLC181, ASX announcement 10 November 2021).
  • The significant drilling intersections of Cu mineralisation at Forio since 2015 have yet to be included in the existing JORC 2012 resource estimate, highlighting the continued potential to add to the Company’s Tollu copper resource of 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper (ASX announcement of 15 June 2016)1.
  • Drilling has proven the potential for extreme high grades of Cu within the mineralised lenses, such as the 1m at 18.5% Cu from 18m downhole in TLC203 and 1m at 11.9% Cu from 31m downhole in TLC153 (ASX announcement 31 October 2017).
  • On‐ground observations and drilling show the zone extends from the surface to at least 86m deep downhole (see Figure 3).
  • Further results from the Project, located only 40km east of the world‐class Nebo‐Babel Ni‐Cu‐ Co‐PGE deposit (see Figure 1), are pending.

Commenting on the highest copper grade recorded at the Tollu Project, Redstone’s Chairman, Richard Homsany, said:

“This is yet another exceptional drilling result for the Company and for the Tollu Project. The potential of Tollu to deliver a high grade copper resource from shallow depths is being validated with further drilling. The 18.5% (for 1m) copper grade result in the latest assay results is an outstanding outcome, together with the other results reported here. The Project is shaping up to be potentially significant.

Weareenthusiasticandconfidentabouttheprospectivityofour100%ownedWest Musgrave Project, located only 40km east of the world‐class Nebo Babel Ni‐Cu‐Co‐PGE deposit, and its ability to unlock further high grade copper mineralisation with future drilling.

As we continue to drill for further copper mineralisation and seek to establish continuity of the mineralised copper zones, our confidence in the value of our West Musgrave Project escalates.

Itisalsopleasingthatourcopper mineralisation largely commences from very shallow depths. Prior results at Forio underpinning the Project’s significance include:

  • 34m at 1.07% Cufrom 15m DH ‐ TLC181 (ASX Announcement 10 November 2021):
  • 16m at 2.8% Cufrom 27m DH ‐ TLC153 (ASX Announcement 31 October 2017):
  • 13m at 3.04% Cufrom 56m DH ‐ TLC172 (ASX Announcement 25 June 2020): and
  • 11m at 1.4% Cufrom 4m DH ‐ TLC173 (ASX Announcement 25 June 2020).

Whenweevaluatethesehistoricalassayresultstogether with these latest assay results, namely:

  • 8m at 4.1% Cu from 13m DH ‐ TLC203;
  • 4m at 1.2% Cu from 45m DH ‐ TLC203; and
  • 6m at 1.47% Cu from 80m DH ‐ TLC201.

it is clear that the potential copper endowment is high. Redstone is excited about the future prospects of its tenure.

We look forward to providing further updates on the Project.”

The West Musgrave Project, which includes the Tollu Cu Vein deposit, is located 40 kilometres east of the world‐class Nebo‐Babel nickel‐copper‐PGE sulphide deposit and has the ideal geological and structural setting for large magmatic Ni‐Cu sulphide deposits (Figure 1).


Click here for the full ASX Release

This article includes content from Redstone Resources Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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