RED METAL RESOURCES LTD. (CSE: RMES) (OTC PINK: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce it has acquired a 100% interest in four additional mineral claims directly contiguous to Quebec Innovative Materials Corp.'s ("QIMC") recent expansion claims staking and in the area of its expansion of its natural renewable hydrogen discovery (See QIMC news dated October 3rd 2024).
The Company's four new claims are located to the North of QIMC's announced 11 km expansion of natural renewable hydrogen discovery. Recent soil gas measurements from QIMC's Line 13 recorded at 594, 543, and 463 ppm, are the highest levels detected outside of those previously reported from Line 7 on September 4th, 2024, press release. These new high readings by QIMC, located 11 km northwest of the 1,000 ppm samples collected on Line 7, highlight the district hydrogen-rich zone across the Ville Marie property.
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Fig 1. Location of new RMES claims
Red Metal has now acquired 100% interest in four separate packages of mineral claims and mineral claim applications and is currently reviewing regional geological data to assist in the evaluation of potential additional acquisitions in the immediate area as well as the formulation of an initial exploration plan with further details to be provided in due course.
Red Metal Resources President and CEO, Caitlin Jeffs, stated, "We are aggressively expanding our geological footprint in this emerging natural hydrogen district and are actively evaluating additional acquisitions in the area. Recent natural hydrogen discoveries demonstrate the rich potential and uniqueness of this region and strategically positions Red Metal amongst first movers of sustainable energy solutions through renewable natural hydrogen. Red Metal is actively planning an initial exploration program directly next to QIMC's recent hydrogen discovery. This new property represents an exciting opportunity to expand our clean energy portfolio as we continue to advance our Carrizal Copper/Gold/Cobalt property in the Coastal Cordillera, Chile."
Red Metal's claim blocks now consist of four separate packages, covering 23 cells and totaling over 1,300 hectares to the North, Northeast and the Southwest of QIMC's Hydrogen-in-soil sample discovery. These claim blocks are contiguous on three sides to Quebec Innovative Materials Corp. and cover possible extensions in multiple directions. To date, 15 of the 23 cells have been approved by the Quebec Ministry of Natural Resources and Forests.
Terms of the Agreement
Under the terms of the Agreement to acquire a 100% interest in four mineral claims, Company has agreed to pay CA$5,000. No royalty is to be paid out of any potential future revenue. The Company's acquisition of the Property remains subject to customary conditions of closing, including the approval of the Canadian Securities Exchange (if required).
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company's current portfolio include the 100% owned Ville Marie claims in Quebec, Canada as well as Company's Chilean projects which are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
With assets located in a historic copper mining district in Chile that boasts high-grade mineralization and low-cost operations, Red Metal Resources represents a compelling investment opportunity and lots of potential for increasing shareholder value.
Red Metal Resources (CSE:RMES) is a Canadian-listed junior mining company specializing in copper exploration, with a particular focus on Chile’s Carrizal Alto mining district in the Atacama Region. The company’s exploration targets, mainly the Farellon and Perth projects, are well-positioned to benefit from Chile’s globally significant copper sector.
Chile is the largest producer of copper worldwide, accounting for nearly 28 percent of the global supply. Given the country’s favorable mining policies, experienced workforce, and well-established infrastructure, Red Metal Resources is well-placed to leverage these advantages as it advances its projects in this prolific region.
The company's Carrizal property comprises two key project areas: the Farellon project in the south and the Perth project in the north. The renowned Carrizal Alto mining district has a rich history of copper and gold production dating back to the 19th century. Historically, the district was one of Chile’s most productive copper regions, situated within Chile’s prolific Coastal Cordillera belt, which boasts high-grade copper mineralization and low-elevation, cost-effective operations. Red Metal Resources is working to rejuvenate Carrizal’s legacy by bringing modern exploration techniques to the region’s underexplored deposits.
Red Metal Resources entered into a letter of intent (LOI) to acquire a 100 percent interest in three separate packages of mineral claims directly contiguous to Quebec Innovative Materials' recent hydrogen sample discovery of over 1,000 ppm. The claim blocks, located within the Timiskaming Graben formation, consist of three separate packages, covering 19 cells and totaling over 1,100 hectares to the North, Northeast and Southwest of QIMC's Hydrogen sample discoveries.
The company intends to begin initial exploration and field work that could include:
Red Metal Resources’ management team brings together a blend of technical and business expertise, driving the company toward its goal of contributing to the growing global demand for copper and clean energy transition. The company also benefits from a board of directors and advisors with substantial experience in capital markets, exploration, and the Chilean mining industry. This combination of technical expertise and business acumen is critical for Red Metal Resources as it seeks to advance its projects from exploration to potential production.
The Carrizal Alto mining district, located in Chile’s Atacama Desert, is known for its mineral wealth, particularly copper, gold and cobalt. The district's mining history dates back to the early 19th century when it became one of the most important copper production regions in Chile.
One of the key advantages of the Carrizal Alto district is its favorable geographic position. The area is located at a low elevation of around 500 meters above sea level, which reduces the logistical challenges often associated with exploration in higher-altitude regions. Additionally, the district is well-connected by infrastructure, including highways and proximity to major urban centers. The property is situated just 150 kilometers south of Copiapó, 25 kilometers from the coast, and only 20 kilometers west of the Pan-American Highway. This close access to infrastructure allows for easier transportation of equipment and supplies, as well as streamlined access to labor and other resources.
The Carrizal Alto district offers a blend of historical mining data and modern exploration potential. While the region was heavily mined in the 19th and early 20th centuries, much of the area remains underexplored using modern methods. Today, the district is experiencing a revival, thanks in part to Red Metal Resources’ exploration efforts. The company’s Carrizal property spans 3,278 hectares, comprising 21 secure mining claims, and comprises two projects: Farellon and Perth.
The Farellon project is Red Metal Resources’ flagship asset, located in the southern portion of the Carrizal Alto mining district. The project is a high-grade iron-oxide-copper-gold vein deposit that has been the focus of much of the company’s exploration activities. The mineralization at Farellon is primarily hosted in quartz-calcite veins that contain chalcopyrite, bornite and chalcocite sulphide mineralization. These veins range from 3 to 6 meters in width, with a halo of lower-grade mineralization extending 15 to 20 meters around the veins.
Farellon is located adjacent to the historic Carrizal Alto mine, one of Chile’s most prolific copper mines during the 19th century. The mineralized veins on the Farellon property are believed to be part of the same geological structure that hosted the mineralization at the Carrizal Alto mine. Historical mining in the area provides valuable insights into the region’s geology, which Red Metal Resources is leveraging to guide its exploration strategy.
To date, the company has completed over 9,000 meters of drilling at Farellon, identifying a mineralized strike length of approximately 1.5 kilometers. The mineralization remains open along strike for an additional 3.5 kilometers, and at depth, indicating significant exploration upside. In 2022, the company completed a 2,010-meter diamond drilling program that extended the known mineralization at depth and identified a parallel structure, the Gorda Vein, which adds further exploration potential.
Recent surface geochemistry work has also highlighted several new targets for follow-up sampling and drilling. One high-grade sample, taken 2 kilometers north of the Farellon drilling, returned values of 5.77 percent copper, 1.55 percent cobalt, and 0.11 grams per ton (g/t) gold, further underscoring the potential for additional high-grade mineralization on the property. These exploration results position Farellon as a highly prospective project with the potential to develop into a significant copper-gold-cobalt resource.
The Perth project, located in the northern portion of the Carrizal Alto district, is Red Metal Resources’ second major exploration asset. The project holds considerable potential for copper-gold-cobalt mineralization. Perth is characterized by fault-related quartz veins that have been mapped and sampled across the property. Historical prospecting and mapping programs have identified 12 veins, with an average thickness of 2 meters and some zones reaching up to 6 meters in width.
Exploration at Perth has yielded promising results, with 48 surface samples returning gold values greater than 1 g/t, 46 samples returning copper grades exceeding 1 percent, and 19 samples showing cobalt values above 0.05 percent. These early-stage exploration results are encouraging and suggest that the Perth project has the potential to host significant copper-gold-cobalt mineralization.
Red Metal Resources plans to conduct additional exploration at Perth to better understand the extent of the mineralization and to prioritize drill targets for future campaigns. While the project is at an earlier stage compared to Farellon, it offers an important opportunity for the company to expand its resource base within the Carrizal Alto District.Caitlin Jeffs is a founding partner of Fladgate Exploration Consulting in Thunder Bay, Ontario, the largest, full service, mineral exploration consulting firm in Northwestern Ontario. She has over 20 years of mineral exploration experience in gold and base metal exploration with junior and major resource companies, including Placer Dome and Goldcorp. Jeffs is also a director of Kesselrun Resources and TomaGold.
John Da Costa has 30 years of accounting experience managing and reporting for Canadian public companies, and 10 years with US public companies. He worked with a Canadian public company operating in Chile in the late 1990s and has experience with Chilean subsidiaries. He is the founder and president of Da Costa Management, providing management and accounting services to both public and private companies in the US and Canada since 2003.
Brian Gusko has an MBA from the University of Calgary and attended the European Summer School of Advanced Management. Gusko has over 15 years’ experience in capital markets and has helped raise over $75 million for various enterprises. He has served on the board and as chief financial officer of various private and public companies. Gusko has assisted with the interlisting of more than 10 companies on the Frankfurt Stock Exchange and has helped numerous companies access German capital markets. He has worked as chief financial officer at several private and public companies. The last company he helped take public on the CSE had a market capitalization of over $200 million at the time of listing.
Michael Thompson received his Honours B.Sc. in Geology from the University of Toronto in 1997, and has since worked for several junior and major companies in both gold and base metal exploration, including Teck Cominco, Tri Origin Exploration, Placer Dome CLA, and Goldcorp. He specializes in structural interpretation of gold deposits as well as management of large exploration programs. He is a founding partner and 33 percent owner of Fladgate Exploration Consulting in Thunder Bay, Ontario.
Marian Myers has an M.Sc (Geology) from the University of the Witwatersrand, South Africa, and has 35 years’ experience working for a wide array of major and junior mining companies including Gold Fields, Anglo American, AngloGold, Balmoral Resources and Cardero Resource. Myer’s breadth of international experience has taken her from her home town near Johannesburg, South Africa to work on projects in Ghana, Zimbabwe, Australia, Alaska, Peru, Chile and now, Canada, where she resides in Vancouver. She specializes in the GIS integration of geochemical, geophysical and geological information, including historical data sets with expertise in QA/QC procedures, field data collection supervision, and assessment and technical report development.
Based in Santiago, Chile, Cody McFarlane is managing partner of Axiom Legal, an international and multidisciplinary law firm specializing in cross border transactions between Australia, Canada and Latin America. McFarlane brings extensive experience in the mining and regulatory environment in Chile.
Advancing high-grade copper assets in Chile’s Coast Cordillera Belt
Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce it has received results from the sampling and mapping work program, which was designed to follow up on and extend previously identified veins that make up approximately 15km of veining extending along strike from the historic Carrizal Alto mine.
Highlights
Figure 1: Gold sample results
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Figure 2: Copper sample results
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Red Metal Resources President and CEO, Caitlin Jeffs, stated, "These outstanding results, with grades up to 17.3% copper and 8.4 g/t gold, underscore Carrizal's potential as a cornerstone asset in the global copper-gold sector. With the Carrizal Property, we have the potential to unlock a world-class IOCG system, and we invite our shareholders to join us on this exciting journey toward discovery."
The 2025 mapping and sampling program has highlighted the higher-grade gold potential of the southwestern extension of the veins that have never been drill tested and only had limited sampling.
Sampling of the Armonia vein as it extends from the historic Carrizal Alto mine onto Red Metal's Carrizal Property continues to highlight the 2.5 kilometeres of veining that has not been drill tested.
Table 1: Grab Sample Highlights (1)(2)
| Sample Number | Northing UTM | Easting UTM | CuT % Total Cu | CuS % Soluble Cu | Au g/t |
| South Theresa Veins | |||||
| Carz 010 | 310602 | 6888689 | 17.3 | 17.1 | 5.0 |
| Carz 011 | 310521 | 6888638 | 7.1 | 6.8 | 8.4 |
| Carz 018 | 309681 | 6888087 | 6.8 | 6.6 | 7.0 |
| Carz 071 | 309713 | 6888210 | 6.3 | 6.2 | 0.4 |
| Carz 021 | 309812 | 6888230 | 6.1 | 6.0 | 0.3 |
| Carz 023 | 309970 | 6888385 | 4.9 | 4.9 | 1.0 |
| Carz 017 | 309650 | 6888053 | 4.9 | 4.8 | 1.6 |
| Carz 013 | 310274 | 6888473 | 4.5 | 4.4 | 0.8 |
| Carz 014 | 310202 | 6888420 | 4.3 | 4.2 | 0.7 |
| Gorda Vein | |||||
| Carz 106 | 309378 | 6888671 | 7.2 | 7.1 | 1.9 |
| Carz 103 | 309470 | 6888778 | 5.8 | 5.8 | 0.5 |
| Carz 101 | 309520 | 6888848 | 5.4 | 5.1 | 0.5 |
| Carz 110 | 309199 | 6888442 | 4.5 | 3.9 | 1.4 |
| Carz 107 | 309315 | 6888618 | 4.5 | 4.4 | 1.0 |
| Carz 113 | 309043 | 6888118 | 4.4 | 4.3 | 0.6 |
| Carz 112 | 309150 | 6888347 | 4.0 | 3.9 | 1.0 |
| Armonia Vein Extension | |||||
| Carz 001 | 311355 | 6889213 | 5.7 | 5.5 | 0.3 |
| Carz 047 | 311279 | 6890005 | 5.5 | 5.5 | 0.7 |
| Carz 003 | 310985 | 6888985 | 4.9 | 4.8 | 3.0 |
| Carz 088 | 310935 | 6889853 | 4.5 | 4.4 | 0.3 |
| Carz 044 | 311497 | 6890106 | 4.4 | 4.3 | 0.8 |
| Carz 058 | 310385 | 6889051 | 4.2 | 4.0 | 1.2 |
| Carz 084 | 310621 | 6889602 | 3.9 | 3.2 | 0.8 |
| Carz 043 | 311544 | 6890152 | 3.8 | 3.6 | 0.5 |
| Carz 080 | 310432 | 6889267 | 3.6 | 1.1 | 1.0 |
(1)Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
(2)This table represents a selection of highlights including 41 samples out of 102 samples taken
Qualified Person
The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo, who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company's portfolio of projects includes seven separate mineral claim blocks and mineral claim applications, highly prospective for Hydrogen, covering 172 mineral claims and totalling over 4,546 hectares, located in Ville Marie, Quebec, and Larder Lake, Ontario, Canada. As well, the Company has a Chilean copper project, located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com.
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254576
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Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce it has now commenced an extensive sampling and mapping work program to follow-up on and extend previously identified veins that make up approximately 15km of veining extending along strike from the historic Carrizal Alto mine.
This active 2025 work program will continue work delineating the vast vein system on Carrizal property and aid in refining future drill targets. All samples will be sent for assay and the Company expects a steady stream of assay results shortly.
Figure 1: Brecciated vein from Level 7 of artisanal workings
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Red Metal Resources President and CEO, Caitlin Jeffs stated, "We are now underway with our 2025 work program and are excited to build on our previous discoveries of up to 5.77% Copper. We believe we are in the top of a large IOCG system and that we are in the early stages of showing its full potential."
Figure 2: Overview of Farellon Project, Carrizal, Chile
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(1)Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
A 2022 work program focused on mapping veins along strike of, and to the east of the main Farellon structure with the goal of developing new drill targets. New veins mapped and sampled include the Gorda vein which was drilled in Hole FAR-22-020. The Gorda vein lies 250 metres east of the Farellon structure which was mapped and sampled along strike for a full kilometre. A further five veins were identified and sampled in detail to develop 2025 and future drill targets throughout the property.
Highlights
Table 1: Grab Sample Highlights (1)(2)
| Sample Number | Northing UTM | Easting UTM | Elevation (asl) | Weight of Sample (Kg) | Au g/t | Co% | Cu% |
| 500818 | 6888943 | 309490 | 553 | 1.54 | 1.74 | 0.047 | 6.26 |
| 500902 | 6891077 | 310916 | 632 | 1.63 | 0.11 | 1.545 | 5.77 |
| 500832 | 6889540 | 311547 | 540 | 1.82 | 0.22 | 0.021 | 5.66 |
| 500895 | 6890377 | 310310 | 631 | 1.58 | 0.63 | 0.146 | 5.18 |
| 500887 | 6889724 | 311958 | 495 | 0.94 | 0.32 | 0.063 | 5.06 |
| 500803 | 6889197 | 309735 | 561 | 2.21 | 0.04 | 0.019 | 4.89 |
| 500822 | 6888323 | 309800 | 647 | 1.96 | 3.43 | 0.015 | 4.59 |
| 500830 | 6889441 | 311412 | 524 | 1.71 | 0.67 | 0.027 | 4.11 |
| 500827 | 6888543 | 310082 | 618 | 1.71 | 4.91 | 0.094 | 3.70 |
| 500894 | 6890373 | 310305 | 631 | 0.45 | 0.13 | 0.028 | 3.41 |
| 500844 | 6888968 | 310724 | 496 | 1.48 | 0.27 | 0.024 | 3.37 |
| 500854 | 6889477 | 310518 | 582 | 1.05 | 3.28 | 0.160 | 3.16 |
| 500837 | 6889267 | 311117 | 527 | 0.67 | 1.97 | 0.029 | 3.03 |
| 500814 | 6889114 | 309667 | 587 | 1.51 | 0.19 | 0.057 | 2.79 |
| 500858 | 6889836 | 310979 | 582 | 2.46 | 2.06 | 0.002 | 2.70 |
| 500834 | 6889309 | 312021 | 472 | 1.52 | 0.45 | 0.054 | 2.64 |
| 500824 | 6888423 | 309869 | 621 | 1.32 | 0.74 | 0.136 | 2.61 |
| 500833 | 6890107 | 311855 | 522 | 1.12 | 0.21 | 0.071 | 2.52 |
| 500820 | 6888717 | 309359 | 592 | 3.64 | 0.45 | 0.036 | 2.50 |
| 500831 | 6889472 | 311475 | 533 | 1.91 | 0.02 | 0.015 | 2.39 |
| 500859 | 6889807 | 310888 | 564 | 1.14 | 0.17 | 0.019 | 2.11 |
| 500840 | 6888767 | 310417 | 546 | 1.07 | 0.81 | 0.018 | 2.06 |
| 500850 | 6888284 | 310247 | 572 | 1.5 | 1.57 | 0.029 | 1.90 |
| 500816 | 6889020 | 309583 | 594 | 3.62 | 0.38 | 0.020 | 1.88 |
| 500868 | 6890705 | 311339 | 574 | 1.43 | 0.09 | 0.085 | 1.77 |
| 500886 | 6889679 | 312500 | 457 | 0.93 | 0.22 | 0.002 | 1.76 |
| 500806 | 6889420 | 309857 | 575 | 1.3 | 0.09 | 0.036 | 1.69 |
| 500819 | 6888717 | 309359 | 592 | 2.64 | 0.47 | 0.048 | 1.54 |
| 500855 | 6889630 | 310681 | 596 | 1.19 | 0.87 | 0.025 | 1.54 |
| 500852 | 6889527 | 310785 | 561 | 1.86 | 0.24 | 0.193 | 1.21 |
| 500829 | 6889352 | 311252 | 539 | 3.43 | 0.65 | 0.073 | 1.20 |
| 500856 | 6889748 | 310735 | 570 | 2.31 | 0.22 | 0.024 | 1.15 |
| 500835 | 6889244 | 311891 | 496 | 3.24 | 1.54 | 0.001 | 0.94 |
| 500838 | 6889227 | 311054 | 548 | 1.26 | 1.89 | 0.019 | 0.88 |
| 500892 | 6889011 | 312361 | 435 | 0.8 | 0.01 | 0.033 | 0.86 |
| 500826 | 6888696 | 310059 | 627 | 1.75 | 1.79 | 0.003 | 0.84 |
| 500801 | 6889269 | 309795 | 596 | 1.96 | 0.09 | 0.121 | 0.82 |
| 500823 | 6888344 | 309815 | 637 | 2.74 | 0.22 | 0.006 | 0.75 |
| 500853 | 6889444 | 310665 | 578 | 2.95 | 0.43 | 0.026 | 0.66 |
| 500802 | 6889233 | 309758 | 580 | 1.67 | 0.04 | 0.062 | 0.55 |
| 500825 | 6888485 | 309930 | 617 | 1.02 | 2.20 | 0.030 | 0.50 |
(1)Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
(2)This table represents a selection of highlights including 41 samples out of 102 samples taken
Qualified Person
The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo, who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company's portfolio of projects include seven separate mineral claim blocks and mineral claim applications, highly prospective for Hydrogen, covering 172 mineral claims and totaling over 4,546 hectares, located in Ville Marie, Quebec and Larder Lake, Ontario, Canada. As well, the Company has a Chilean copper project, located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244415
News Provided by Newsfile via QuoteMedia
Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce planning is underway for an extensive 2025 work program to follow-up on and extend previous sampling discoveries of 5.77% Cu, 1.55% Co and 0.11 gt Au along two kilometres of strike to the north of 2022 drilling on the "Farellon" structure at its highly prospective Carrizal IOCG Property, located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera.
The upcoming 2025 work program will test high-priority targets identified through previous drilling, sampling and mapping and will focus on identifying new drill targets and expanding known areas of mineralization using ASTER remote sensing surveys for alteration analysis and ground sampling initiatives.
Figure 1: Strong iron oxide alteration FAR-22-017 at 243m
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Red Metal Resources President and CEO, Caitlin Jeffs stated, "We are excited to build on our previously successful drilling and sampling programs in a 2025 market environment with higher Copper prices and demand. We have multiple new potential drill targets in close proximity to the Farellon structure and are greatly encouraged by the drilling confirmation of significant new vein width and mineralization with a full 1.5 kilometres of mapped continuity for planned upcoming drilling as well as numerous other high-priority veins that have yet to be drill tested. We believe the nature of the alteration and veining indicates that we are in the top of a large IOCG system and that we are in the early stages of showing its full potential."
Figure 2: Surface mapping and sample results up to 5.77% Copper at Carrizal, Chile
CuEq% based on CuEq%= ((Cu lb/t*US$3.75.lb) +(Co lbs/t*US$20/lb) +(Au g/t*0.03215*US$1,850/oz)/US$3.75/lb Cu insitu value and does not account for metallurgical, refining or other losses
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A 2022 work program focused on mapping of veins along strike of, and to the east of the main Farellon structure with the goal of developing new drill targets. New veins mapped and sampled include the Gorda vein which was drilled in Hole FAR-22-020. The Gorda vein lies 250 metres east of the Farellon structure which was mapped and sampled along strike for a full kilometre. A further five veins were mapped and sampled in detail to develop 2025 and future drill targets throughout the property.
Figure 3. Mineralization from recent sampling programs
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Highlights
Table 1: Grab Sample Highlights (1)(2)
| Sample Number | Northing UTM | Easting UTM | Elevation (asl) | Weight of Sample (Kg) | Au g/t | Co% | Cu% |
| 500818 | 6888943 | 309490 | 553 | 1.54 | 1.74 | 0.047 | 6.26 |
| 500902 | 6891077 | 310916 | 632 | 1.63 | 0.11 | 1.545 | 5.77 |
| 500832 | 6889540 | 311547 | 540 | 1.82 | 0.22 | 0.021 | 5.66 |
| 500895 | 6890377 | 310310 | 631 | 1.58 | 0.63 | 0.146 | 5.18 |
| 500887 | 6889724 | 311958 | 495 | 0.94 | 0.32 | 0.063 | 5.06 |
| 500803 | 6889197 | 309735 | 561 | 2.21 | 0.04 | 0.019 | 4.89 |
| 500822 | 6888323 | 309800 | 647 | 1.96 | 3.43 | 0.015 | 4.59 |
| 500830 | 6889441 | 311412 | 524 | 1.71 | 0.67 | 0.027 | 4.11 |
| 500827 | 6888543 | 310082 | 618 | 1.71 | 4.91 | 0.094 | 3.70 |
| 500894 | 6890373 | 310305 | 631 | 0.45 | 0.13 | 0.028 | 3.41 |
| 500844 | 6888968 | 310724 | 496 | 1.48 | 0.27 | 0.024 | 3.37 |
| 500854 | 6889477 | 310518 | 582 | 1.05 | 3.28 | 0.160 | 3.16 |
| 500837 | 6889267 | 311117 | 527 | 0.67 | 1.97 | 0.029 | 3.03 |
| 500814 | 6889114 | 309667 | 587 | 1.51 | 0.19 | 0.057 | 2.79 |
| 500858 | 6889836 | 310979 | 582 | 2.46 | 2.06 | 0.002 | 2.70 |
| 500834 | 6889309 | 312021 | 472 | 1.52 | 0.45 | 0.054 | 2.64 |
| 500824 | 6888423 | 309869 | 621 | 1.32 | 0.74 | 0.136 | 2.61 |
| 500833 | 6890107 | 311855 | 522 | 1.12 | 0.21 | 0.071 | 2.52 |
| 500820 | 6888717 | 309359 | 592 | 3.64 | 0.45 | 0.036 | 2.50 |
| 500831 | 6889472 | 311475 | 533 | 1.91 | 0.02 | 0.015 | 2.39 |
| 500859 | 6889807 | 310888 | 564 | 1.14 | 0.17 | 0.019 | 2.11 |
| 500840 | 6888767 | 310417 | 546 | 1.07 | 0.81 | 0.018 | 2.06 |
| 500850 | 6888284 | 310247 | 572 | 1.5 | 1.57 | 0.029 | 1.90 |
| 500816 | 6889020 | 309583 | 594 | 3.62 | 0.38 | 0.020 | 1.88 |
| 500868 | 6890705 | 311339 | 574 | 1.43 | 0.09 | 0.085 | 1.77 |
| 500886 | 6889679 | 312500 | 457 | 0.93 | 0.22 | 0.002 | 1.76 |
| 500806 | 6889420 | 309857 | 575 | 1.3 | 0.09 | 0.036 | 1.69 |
| 500819 | 6888717 | 309359 | 592 | 2.64 | 0.47 | 0.048 | 1.54 |
| 500855 | 6889630 | 310681 | 596 | 1.19 | 0.87 | 0.025 | 1.54 |
| 500852 | 6889527 | 310785 | 561 | 1.86 | 0.24 | 0.193 | 1.21 |
| 500829 | 6889352 | 311252 | 539 | 3.43 | 0.65 | 0.073 | 1.20 |
| 500856 | 6889748 | 310735 | 570 | 2.31 | 0.22 | 0.024 | 1.15 |
| 500835 | 6889244 | 311891 | 496 | 3.24 | 1.54 | 0.001 | 0.94 |
| 500838 | 6889227 | 311054 | 548 | 1.26 | 1.89 | 0.019 | 0.88 |
| 500892 | 6889011 | 312361 | 435 | 0.8 | 0.01 | 0.033 | 0.86 |
| 500826 | 6888696 | 310059 | 627 | 1.75 | 1.79 | 0.003 | 0.84 |
| 500801 | 6889269 | 309795 | 596 | 1.96 | 0.09 | 0.121 | 0.82 |
| 500823 | 6888344 | 309815 | 637 | 2.74 | 0.22 | 0.006 | 0.75 |
| 500853 | 6889444 | 310665 | 578 | 2.95 | 0.43 | 0.026 | 0.66 |
| 500802 | 6889233 | 309758 | 580 | 1.67 | 0.04 | 0.062 | 0.55 |
| 500825 | 6888485 | 309930 | 617 | 1.02 | 2.20 | 0.030 | 0.50 |
(1)Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.
(2)This table represents a selection of highlights including 41 samples out of 102 samples taken
Red Metal successfully completed a nine-hole, 2,010 metre drill program in 2022 that targeted down dip extensions of known mineralized zones as well as testing of new zones.
Highlights
Diamond Drilling
Four drillholes of the program targeted the south and north end of the Farellon zone and tested a previously undrilled structure parallel to the Farellon zone. All four drill holes intercepted zones of sulphide mineralization including chalcopyrite and chalcocite and zones of strong alteration associated with iron oxide copper gold ("IOCG") deposits.
Figure 4. Diamond drill program at the Farellon Zone discovery
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Table 2: Summary of holes (3)
| Drillhole | Target | Length | Highlights |
| FAR-22-017 | Farellon South | 326 | Mineralized Breccia Zone at 236-243 m |
| FAR-22-018 | Farellon South | 293 | Multiple zones of disseminated chalcopyrite mineralization and intense IOCG associated alteration |
| FAR-22-019 | Farellon North | 188 | 85-91 m brecciated quartz veining with strong chalcopyrite mineralization |
| FAR-22-020 | New Zone | 182 | 142-147.6 m quartz calcite vein with strong chalcopyrite mineralization and actinolite, iron and sericite alteration |
(3)Widths are drill indicated core length as insufficient drilling has been undertaken to determine true widths with at this time.
New Zone Drill Tested
The newly tested parallel structure lies approximately 250 metres west of the Farellon vein and was mapped and sampled on surface in 2012. Mapping completed in 2012 traced the vein continuously over approximately 1.5 kilometres. All six surface samples taken along the structure in 2012 are listed below and all samples returned significant copper, gold and cobalt. The structure was tested with one drillhole and a six-metre quartz calcite vein was intercepted from 142m to 142.6m with visible chalcopyrite mineralization, intense pyrrhotite, albite and actinolite alteration.
Table 3: Historic 2012 surface sampling on new zone
| Sample ID | Easting | Northing | CuT% | Au g/t | Co% |
| 123984 | 309701 | 6889159 | 4.97 | 0.43 | 0.07 |
| 123985 | 309862 | 6889291 | 3.73 | 0.80 | 0.02 |
| 123986 | 309644 | 6889070 | 3.40 | 0.41 | 0.03 |
| 123987 | 309424 | 6888843 | 1.60 | 0.23 | 0.10 |
| 123989 | 309227 | 6888420 | 3.86 | 0.68 | 0.04 |
| 123990 | 309040 | 6888003 | 2.49 | 0.63 | 0.02 |
Figure 5: Chalcopyrite in brecciated quartz vein FAR-22-019 at 86m
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Figure 6: Chalcopyrite primary mineralization FAR-22-020 from 6m wide zone at 145.5m and 147.5m
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QAQC
Samples were prepared and analyzed by ALS laboratories in La Serena, Chile and Lima, Peru. Samples were analyzed for gold using Fire Assay-AA techniques. All samples were analyzed using a 33 element 4 acid digestion ICP analysis method and copper samples over 10,000 ppm were analyzed again for just copper using the same analysis method.
Qualified Person
The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo, who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company's portfolio of projects include seven separate mineral claim blocks and mineral claim applications, highly prospective for Hydrogen, covering 172 mineral claims and totaling over 4,546 hectares, located in Ville Marie, Quebec and Larder Lake, Ontario, Canada. As well, the Company has a Chilean copper project, located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com.
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242622
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Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce that it is planning a Phase 1 work program and data compilation for its recently acquired, 100% owned, portfolio of highly prospective mineral claims and mineral claim applications, consisting of seven separate claim packages, covering 172 mineral claims and totaling over 4,546 hectares.
These highly prospective claim packages are located to the North, Northeast and the Southwest of Quebec Innovative Materials Corp.'s ("QIMC") recent hydrogen-in-soil discovery in the Saint-Bruno-de-Guigues area, of over 1,000 ppm, announced on September 4th 2024, as well as covering similar geology to the west located in the Larder Lake Mining District of Ontario, along the Quebec border near the town of Ville-Marie, QC.
Figure 1. RMES 7 Mineral Claim blocks in Ontario and Quebec in proximity to recent Hydrogen discovery
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These claim blocks are contiguous on three sides to Quebec Innovative Materials Corp. and cover possible extensions in multiple directions. To date, 164 of the 172 claims have been approved by the Quebec Ministry of Natural Resources and Forests and the Ontario Ministry of mines.
Ontario's Firstbrook Township hosts documented occurrences of copper, lead, cobalt, silver and kimberlite. The area boasts excellent infrastructure, including power and easy road access.
Geologic or white hydrogen offers a clean, renewable and potentially abundant source of energy with a range of environmental and economic benefits. Its carbon-free nature, high energy density and compatibility with existing infrastructure make it a promising solution for meeting future energy needs and achieving global climate goals.
Red Metal Resources President and CEO, Caitlin Jeffs stated, "We have established a significant and highly prospective claim package covering 172 mineral claims and totaling over 4,546 hectares to the North, Northeast and the Southwest of Quebec Innovative Materials Corp.'s ("QIMC") recent hydrogen-in-soil discovery in both Quebec and directly across the border in Ontario. Red Metal is actively planning a Phase 1 work program to encompass its Quebec and Ontario claims and highlight the potential for new discoveries of hydrogen as well as base and precious metals as we continue to advance our Carrizal Copper/Gold property in Cordillera, Chile."
Red Metal Resources is planning an initial exploration program that could include but not limited to:
Gas sampling from the soil and underwater surveys in Timiskaming Lake. These surveys can be used to locate degassing zones associated with faults in the Timiskaming rift.
Gravimetry and audiomagnetotellurism (AMT) geophysics to assess variations in the thickness of local sedimentary rock deposits (gravity troughs) over the Archean basement. AMT data will assist in locating graben-related faults in the St-Bruno-de-Guigue area that are covered by quaternary sediments.
Regional remote sensing gas surveys to identify specific targets to provide useful remote sensing data for hydrogen and helium exploration.
Fieldwork can be carried out with access to properties through main roads and paved highways.
The Company is currently reviewing regional geologic data to assist in the evaluation of potential additional acquisitions in the immediate area as well as the formulation of an initial exploration plan with further details to be provided in due course.
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Qualified Person
The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo, who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company's portfolio of projects include seven separate mineral claim blocks and mineral claim applications, highly prospective for Hydrogen, covering 172 mineral claims and totaling over 4,546 hectares, located in Ville Marie, Quebec and Larder Lake, Ontario, Canada. As well, the Company has a Chilean copper project, located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241568
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Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) is pleased to announce that it has executed a Definitive Agreement (the "Agreement") with an arm's length vendor to acquire a 100% interest in three separate mineral claims packages, highly prospective for Hydrogen located in the Larder Lake Mining District of Ontario, along the Quebec border near the town of Ville-Marie, QC.
These claim blocks consist of three separate packages, covering 149 mineral claims and totaling approximately 3,246 hectares and were acquired due to their proximity and similar geological setting to that of Quebec Innovative Materials Corp.'s ("QIMC") recent hydrogen-in-soil discovery in the Saint-Bruno-de-Guigues area, of over 1,000 ppm, announced on September 4th 2024.
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Figure 1. RMES 7 Mineral Claim blocks in Ontario and Quebec in proximity to recent Hydrogen discovery
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Red Metal's total portfolio of claim blocks in this highly prospective discovery area, now consist of seven separate packages, covering 172 mineral claims and totaling over 4,546 hectares to the North, Northeast and the Southwest of QIMC's Hydrogen-in-soil sample discovery as well as covering similar geology to the west into Ontario. These claim blocks are contiguous on three sides to Quebec Innovative Materials Corp. and cover possible extensions in multiple directions. To date, 164 of the 172 claims have been approved by the Quebec Ministry of Natural Resources and Forests and the Ontario ministry of mines.
Ontario's Firstbrook Township hosts documented occurrences of copper, lead, cobalt, silver and kimberlite. The area boasts excellent infrastructure, including power and easy road access.
Geologic or white hydrogen offers a clean, renewable and potentially abundant source of energy with a range of environmental and economic benefits. Its carbon-free nature, high energy density and compatibility with existing infrastructure make it a promising solution for meeting future energy needs and achieving global climate goals.
Red Metal Resources President and CEO, Caitlin Jeffs stated, "We have added a significant and highly prospective package of three additional claim blocks in Ontario to our existing mineral claims portfolio next to QIMC in Quebec. Red Metal is actively planning an extensive exploration program to encompass its Quebec and Ontario claims including directly next to QIMC's recent hydrogen discovery. These new Ontario claims increase our exposure to this exciting discovery area and highlight the potential for new discoveries of hydrogen as well as base and previous metals as we continue to advance our Carrizal Copper/Gold property in Cordillera, Chile."
Red Metal Resources is planning an initial exploration program that could include but not limited to:
Gas sampling from the soil and underwater surveys in Timiskaming Lake. These surveys can be used to locate degassing zones associated with faults in the Timiskaming rift.
Gravimetry and audiomagnetotellurism (AMT) geophysics to assess variations in the thickness of local sedimentary rock deposits (gravity troughs) over the Archean basement. AMT data will assist in locating graben-related faults in the St-Bruno-de-Guigue area that are covered by quaternary sediments.
Regional remote sensing gas surveys to identify specific targets to provide useful remote sensing data for hydrogen and helium exploration.
Fieldwork can be carried out with access to properties through main roads and paved highways.
The Company is currently reviewing regional geologic data to assist in the evaluation of potential additional acquisitions in the immediate area as well as the formulation of an initial exploration plan with further details to be provided in due course.
Terms of the Agreement
Under the terms of the Agreement to acquire a 100% interest in 149 mineral claims, Company has agreed to pay $8,000 and issue 2.25 million common shares of the Company. No royalty is to be paid out of any potential future revenue. The Company's acquisition of the Property remains subject to customary conditions of closing, including the Company completing due diligence to its satisfaction and the approval of the Canadian Securities Exchange (if required), and is expected to complete shortly. The common shares issuable in connection with the Agreement will be subject to a four month hold period under applicable Canadian securities laws.
Qualified Person
The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo, who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company's current portfolio include the 100% owned Ville Marie claims in Quebec, Canada as well as Company's Chilean projects which are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com.
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232251
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Why is copper so expensive in 2025? Higher copper prices over the past few years have largely been attributed to a widening supply/demand gap. The already tenuous copper supply picture was made worse by COVID-19 lockdowns, and as the world's largest economies seemingly began to emerge from the pandemic, demand for the metal picked up once again. Copper mining and refining activities simply haven’t kept up with the rebound in economic activity.
Now, global copper mine supply is tightening at a time when US President Donald Trump's tariffs are placing further strains on copper supply. In response, a new copper all time high was reached in July 2025. But what was the highest price for copper? The Investing News Network (INN) will answer that question, but first let’s take a deeper look at what factors drove the price of copper higher, as well as historical movements in the price of copper.
Robust demand has long been one of the strongest factors driving copper prices. The ever-growing number of copper uses in everyday life — from building construction and electrical grids to electronic products and home appliances — make it the world’s third most-consumed metal.
Copper’s anti-corrosive and highly conductive properties are why it’s the go-to metal for the construction industry, and it's used in products such as copper pipes and copper wiring. In fact, construction is responsible for nearly half of global copper consumption. Rising demand for new homes and home renovations in both Asian and Western economies is expected to support copper prices in the long term.
In recent decades, copper price spikes have been strongly tied to rising demand from China as the economic powerhouse injects government-backed funding into new housing and infrastructure. Industrial production and construction activity in the Asian nation have been like rocket fuel for copper prices.
Additionally, copper’s conductive properties are increasingly being sought after for use in renewable energy applications, including thermal, hydro, wind and solar energy.
However, the biggest driver of copper consumption in the renewable energy sector is rising global demand for electric vehicles (EVs), EV charging infrastructure and energy storage applications. As governments push forward with transportation network electrification and energy storage initiatives as a means to combat climate change, copper demand from this segment is expected to surge.
New energy vehicles use significantly more copper than internal combustion engine vehicles, which only contain about 22 kilograms of copper. In comparison, hybrid EVs use an average of 40 kilograms, plug-in hybrid EVs use 55 kilograms, battery EVs use 80 kilograms and battery electric buses use 253 kilograms.
In 2024, EV sales worldwide increased by 25 percent over 2023 to come in at about 17.1 million units, and analysts at Rho Motion expect that trend to continue in the coming years despite some headwinds in the near-term. Already in the first five months of 2025, EV sales were up 28 percent over the same period in the previous year.
On the supply side of the copper market, the world’s largest copper mines are facing depleting high-grade copper resources, while over the last decade or more new copper discoveries have become few and far between.
The pandemic made the situation worse as mining activities in several top copper-producing countries faced work stoppages and copper companies delayed investments in further exploration and development — a challenging problem considering it can take as many as 10 to 20 years to move a project from discovery to production. In addition, delayed investments amid the pandemic will also have long-term repercussions for copper supply.
There have also been ongoing production issues at major copper mines, most notably the shutdown in late 2023 of First Quantum Minerals' (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine, which accounted for about 350,000 MT of the world's annual copper production.
The International Energy Agency (IEA) is forecasting a 30 percent shortfall in the amount of copper needed to meet demand by 2035. “This will be a major challenge. It’s time to sound the alarm,” IEA Executive Director Fatih Birol said.
The supply shortage has increased the need for end users to turn to the copper scrap market to make up for the supply shortage. Sometimes referred to as “the world’s largest copper mine,” recycled copper scrap contributes significantly to supplying and balancing the copper market.
Eleni Joannides, Wood Mackenzie's research director for copper, told INN by email at the end of Q4 2024 that there is recognition of the underinvestment in copper exploration, but she sees a new dawn emerging for the sector.
“We are seeing signs this could change. Much of the growth over the last five years has come from brownfield expansions rather than greenfield/new discoveries," she said. "Technology will likely help increase the chance of discovery, and broadly I would say that policymakers are now more supportive of mineral exploration as the push to secure critical raw materials supply has moved up the agenda."
Joannides offered some examples of greenfield projects in the pipeline: Capstone Copper’s (TSX:CS,OTC Pink:CSCCF) Santo Domingo in Chile, Southern Copper’s (NYSE:SCCO) Tia Maria in Peru and Teck Resources' (TSX:TECK.A,TECK.B,NYSE:TECK) Zafranal in Peru.
Taking a look back at historical price action, the copper price has had a wild ride for more than two decades.
Sitting at US$1.38 per pound in late January 2005, the copper price followed global economic growth up to a high of US$3.91 in April 2008. Of course, the global economic crisis of 2008 soon led to a copper crash that left the metal at only US$1.29 by the end of year.
Once the global economy began to recover in 2011, copper prices posted a new record high of US$4.58 per pound at the start of the year. However, this high was short-lived as the copper price began a five year downward trend, bottoming out at around US$1.95 in early 2016.
Copper prices stayed fairly flat over the next four years, moving in a range of US$2.50 to US$3 per pound.
20 year copper price performance.
Chart via Macrotrends.
The pandemic’s impact on mine supply and refined copper in 2020 pushed prices higher despite the economic slowdown. The copper price climbed from a low of US$2.17 in March to close out the year at US$3.52.
In 2021, signs of economic recovery and supercharged interest in EVs and renewable energy pushed the price of copper to rally higher and higher. Copper topped US$4.90 per pound for the first time ever on May 10, 2021, before falling back to close at US$4.76.
Also affecting the copper price at that time was expectations for higher copper demand amid supply concerns out of two of the world’s major copper producers: Chile and Peru. In late April 2021, port workers in Chile called for a strike, while in Peru presidential candidate Pedro Castillo proposed nationalizing mining and redrafting the country’s constitution.
In early May 2021, news broke that copper inventories were at their lowest point in 15 years. Expert market watchers such as Bank of America commodity strategist Michael Widmer warned that further inventory declines into 2022 could lead to a copper market deficit.
After climbing to start 2022 at US$4.52, the copper price continued to spike on economic recovery expectations and supply shortages to reach US$5.02 per pound on March 6. Throughout the first quarter, fears of supply chain disruptions and historically low stockpiles amid rising copper demand drove prices higher.
However, copper prices pulled back in mid-2022 on worries that further COVID-19 lockdowns in China, as well as a growing mortgage crisis, would slow down construction and infrastructure activity in the Asian nation. Rising inflation and interest hikes by the Fed also placed downward pressure on a wide basket of commodities, including copper. By late July 2022, copper prices were trading down at nearly a two year low of around US$3.30.
In the early months of 2023 the copper price was trading over the US$4 per pound level after receiving a helpful boost from continuing concerns about low copper inventories, signs of rebounding demand from China, and news about the closure of Peru's Las Bambas mine, which accounts for 2 percent of global copper production.
However, that boost turned to a bust in the second half of 2023 as China continued to experience real estate sector issues, alongside the economic woes of the rest of the world. The price of copper dropped to a low for the year of US$3.56 per pound in mid October.
Elevated supply levels kept copper trading in the US$3.50 to US$3.80 range for much of Q1 2024 before experiencing strong gains that pushed the price of the red metal to US$4.12 on March 18.
Those gains were attributed to in part to tighter copper concentrate supply following the closure of First Quantum Minerals' Cobre Panama mine, guidance cuts from Anglo American (LSE:AAL,OTCQX:AAUKF) and declining production at Chile’s Chuquicamata mine. In addition, China’s top copper smelters announced production cuts after limited supply led to lower profits from treatment and refining charges.
BHP's (ASX:BHP,NYSE:BHP,LSE:BHP) attempted takeover of Anglo American also stoked fears of even tighter global copper mine supply. These supply-side challenges continued to juice copper prices in Q2 2024, causing a jump of nearly 29 percent from US$4.04 per pound on April 1 to a then all-time high of US$5.20 by May 20, 2024.
The price of copper reached its highest recorded price of US$5.959 per pound, or US$13,137.75 per metric ton, on July 24, 2025. It hit this peak during intra-day trading before closing the day at US$5.88. The red metal’s price surged more than 17 percent since the start of July to its new all time high. Read on to found out how the copper price reached those heights.
After starting 2025 at US$3.99 per pound, copper prices were lifted in Q1 by increasing demand from China’s economic stimulus measures, renewable energy and artificial intelligence (AI) technologies and stockpiling brought on by fear of US President Trump’s tariff threats.
At the time, Trump had said the US was considering placing tariffs of up to 25 percent on all copper imports in a bid to spark increased domestic production of the base metal.
In late February, he signed an executive order instructing the US Commerce Department to investigate whether imported copper poses a national security risk under Section 232 of the Trade Expansion Act of 1962. The price of copper reached a new high price of US$5.24 per pound on March 26 as tariff tensions escalated.
Trump's tariff talk sparked yet another copper price rally to set its new record high price in early July when he announced he plans to impose a 50 percent tariff on all imports of the red metal, and it moved higher towards the end of the month in anticipation of them entering effect.
However, copper's price plummeted from its heights on July 31 following the reveal that tariffs would not be imposed on imports of raw or refined copper, instead targeting semi-finished copper products.
Looking at the bigger picture, copper’s rally in recent years has encouraged bullish sentiment on prices looking ahead. In the longer term, the fundamentals for copper are expected to get tighter as demand increases from sectors such as EVs and energy storage. A May 2024 report from the International Energy Forum (IEF) projects that as many as 194 new copper mines may need to come online by 2050 to support massive demand from the global energy transition.
Looking over to renewable energy, according to the Copper Development Association, solar installations require about 5.5 MT of copper for every megawatt, while onshore wind turbines require 3.52 MT of copper and offshore wind turbines require 9.56 MT of copper.
The rise of AI technology is also bolstering the demand outlook for copper. Commodities trader Trafigura has said AI-driven data centers could add one million MT to copper demand by 2030, reports Reuters.
Copper market fundamentals suggest a return to a bull market cycle for the red metal in the medium-term. The copper supply/demand imbalance also presents an investment opportunity for those interested in copper-mining stocks.
Are there any copper companies on your radar? If you’re looking for some inspiration, head on over to INN's articles on the top copper stocks on the TSX and TSXV, the biggest copper stocks on the ASX, and our list of 27 advanced US copper projects to watch.
If you're looking to diversify your portfolio with other investment options, check out copper ETFS and ETNs or copper futures contracts. Investor and author Gianni Kovacevic told INN in a December 2024 interview that one of the ways he is playing copper under Trump's second term is with copper stocks such as Coppernico Metals (TSX:COPR), Entree Resources (TSX:ETG,OTCQB:ERLFF) and Horizon Copper (TSXV:HCU,OTCQX:HNCUF).
This is an updated version of an article first published by the Investing News Network in 2021.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
