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REDSTONE RESOURCES LIMITED - Corporate Spotlight

Redstone Resources Ltd (ASX: RDS) is a Perth-based company focused on highly prospective... Redstone Resources Ltd (ASX: RDS) is a Perth-based company focused on highly prospective copper exploration properties in the West Musgrave region of Western Australia.More

Corporate Spotlight

Redstone Resources Ltd (ASX: RDS) is a Perth-based company focused on highly prospective copper exploration properties in the West Musgrave region of Western Australia.
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THICK 95m INTERVAL OF COPPER SULPHIDES

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Thick 95m Interval of Copper Sulphides Intersected at EM5, 7.2km North East of Tollu



HIGHLIGHTS

  • Geochemical assays confirm that recently completed reverse circulation (RC) drilling at Redstone’s West Musgrave Project intersected a large igneous intrusion bearing a thick sequence of disseminated copper sulphides at the EM5 Target.
  • The anomalous copper was intersected continuously for 95m (up to 0.06% copper) from 66m downhole in RC drill hole TLC170, confirming observations of copper sulphides (chalcopyrite) made in the field.

  • The copper mineralisation remains untested in all directions.

    • The igneous intrusion is over 400m in diameter according to magnetic geophysics data

      and located over 7.2km north east of the Tollu Copper vein deposit.

  • The nature of the mineralisation and the distance from Tollu is a significant finding for the prospectivity of the greater Project area for metal sulphides in igneous intrusions.

  • TLC170 targeted a magnetic geophysical feature which was accompanied by an electromagnetic anomaly known as the EM5 Target.

  • Further magnetic targets are located within Redstone’s West Musgrave tenure including a cigar shaped anomaly only 800m south east of the EM5 intrusion and probably related.

  • The interval contains elevated concentrations of gold above background, although in trace amounts, and yet to be fully investigated.

  • EM5 represents an entirely different prospective target than the copper mineralisation at Tollu.

  • Other magnetic anomalies that exist throughout the Project are now of interest for future exploration.


Commenting on the excellent result, Redstone’s Chairman Richard Homsany said:

“The discovery of 95m of continuous anomalous copper in thick disseminated sulphides, relatively close to the surface and over 7km from the Tollu Copper deposit, represents a significant milestone for Redstone’s West Musgrave Project. In addition to the Tollu vein system, EM5 confirms that the Project continues to be validated as hosting a highly prospective copper system.


With only limited drilling Redstone was able to enhance copper prospectivity in a new target area and create significant value to the Project. EM5 represents an entirely different prospective target than the copper mineralisation at Tollu and has highlighted other geophysical anomalies located across the Project as potential targets for future exploration.


The elevated levels of gold above background at EM5, albeit in trace amounts, are also highly encouraging and require further investigation.

We will now evaluate the next steps available to us in any future activities at EM5 and the Project as a whole.”


Redstone Resources Limited (ASX: RDS) is pleased to announce that finalised geochemical assay results from its recent reverse circulation (RC) drilling programme at the Company’s 100% owned West Musgrave Project (the Project) have confirmed that RC drill hole TLC170 intersected a 95m thick (downhole) sequence of disseminated copper sulphides in a large igneous intrusion over 7.2km north east of the Tollu Copper Vein Project (Tollu) (Figure 1).


RC drill hole TLC170 targeted an EM anomaly coincident with a large circular magnetic anomaly, known by the Company as the EM5 Target (EM5) (refer ASX announcement of 24 October 2019). The finalised results from full geochemical assays has confirmed that the drill hole intersected 95m of disseminated copper sulphides (Chalcopyrite) from 66m downhole with copper concentrations of between 0.03‐0.06% copper (Figure 2).


Although some 28m of the interval was not sampled for assay, the copper sulphides were visible in the field and observed to occur continuously throughout the overall 95m interval.


An interesting feature of the interval is elevated concentrations of gold above background, although in trace amounts, and yet to be fully investigated.


No other exploration has been carried out in the immediate area, which leaves the copper occurrence untested in all directions, including at depth.



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Figure 1 ‐ Location of RC drill hole TLC170 in relation to the EM5 Target and other areas of interest on the West Musgrave Project


Importantly, the copper sulphides are hosted in a large gabbroic igneous intrusion (Figure 2) over 7.2km north east of the Tollu Copper Vein Project (Figure 1) and so represent an entirely different prospective target than the copper mineralisation at Tollu.


The magnetic anomaly shows that the gabbroic intrusion containing the disseminated copper sulphides in TLC170 is at least 400‐450m in diameter, although it may be much larger at depth. A similar magnetic anomaly, 650m long and 300m wide, is located only 800m to the south east of that intersected by TLC170, possibly related to the same intrusive body at depth. Other magnetic anomalies that exist throughout the Project are now of interest for future exploration.


The 96m intersection of disseminated copper mineralisation in the gabbroic intrusion at EM5, proves that the West Musgrave Project is prospective for copper mineralisation in the greater Project area, beyond what is already known at Tollu. It shows that there is potential for magmatic intrusions throughout the Project that may contain economic concentrations of metals themselves or that may have created the hydrothermal conditions necessary for mobilising and concentrating metals in the volcanic sequences they have intruded or at their contacts.


It is unclear at this stage, if the copper occurrence in TLC170 is represented by the EM anomaly at EM5.


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Figure 2 – East‐West Cross Section of RC drill hole TLC170, looking North


A table of drill collar locations is presented in Appendix 1 and a table of significant results has been included in Appendix 2. The JORC Table 1 for these results can be found in Appendix 3 and the competent persons statement is below.


ASX Release 6th June 2020

RDS RECEIVES FINAL ASSAY RESULTS TOLLU

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25th June 2020 - The Market Herald 


  • Redstone Resources (RDS) has received final assay results from recent reverse circulation (RC) drilling at the Tollu Copper Vein Project in WA 
  • A total of three holes were drilled to test the continuity of mineralisation and the deeper mineralisation below historical drilling at two prospects 
  • Results from these holes graded up to 4.4 per cent copper and they have validated the prospectivity of the project 
  • Redstone has dropped 12.5 per cent and shares are trading for 0.7 cents each

Redstone Resources (RDS) has received final assay results from recent reverse circulation (RC) drilling at the Tollu Copper Vein Project. 


Tollu is located in the southeast portion of the West Musgrave region of Western Australia. 

It covers an area of five square kilometres and consists of copper rich quartz veins. 


Redstone drilled three RC holes, for 662 metres, to test the continuity of mineralisation and the deeper mineralisation below historical drilling at the Chatsworth and Eastern Reef Prospects. 


Holes TLC172 and TLC173, which tested the continuity of the mineralisation, returned results of 13 metres at 3.04 per cent copper from 56 metres including eight metres at 4.4 per cent copper from 57 metres, and 11 metres at 1.4 per cent copper from four metres including four metres at 2.7 per cent copper from seven metres.


The final hole, TLC166, which tested the deeper mineralisation, discovered that thick mineralisation at the intersection of the Chatsworth and Eastern Reef Prospects is not lost with what was previously believed. 


This hole returned a result of 26 metres at 1.03 per cent copper from 277 metres including two metres at 2.9 per cent copper from 281 metres. 


"We are very pleased to report further excellent high grade copper results at Tollu. All Tollu drilling campaigns have returned high grade copper and the availability of further funding is required to unlock the value of Redstone's West Musgrave tenure," Chairman Richard Homsany said. 


"These results validate the prospectivity of Redstone's tenure to host potential economic copper mineralisation," he added. 


Redstone has dropped 12.5 per cent and shares are trading for 0.7 cents each at 1:47 pm AEST.


25th June 2020 - The Market Herald

HIGH GRADE COPPER RESULTS AT TOLLU

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Excellent High Grade Copper Results including 13m at 3% continue at Tollu, West Musgrave

ASX Release 25th June 2020


HIGHLIGHTS

  • Assays from 3 drill holes for a total of 662m at the Tollu Copper Vein Project return significant high grade copper results, including 13m at 3% at the Forio Prospect;

  • The significant copper intercepts include*:
    o 26m @ 1.03% Cu from 277m downhole (TLC166), including: 2m @ 2.9 % Cu from 281m downhole.
    o 13m @ 3.04% Cu from 56m downhole (TLC172), including: 8m @ 4.4% from 57m downhole.
    o 11m @ 1.4% Cu from 4m downhole (TLC173), including: 4m @ 2.7% from 7m downhole.

  • Drill holes TLC172 and TLC173 at Forio Prospect confirm continuity, both laterally and to depth, of the thick high grade lens of copper mineralisation previously intersected in 2017 drilling, which included one of the highest grade intersections ever recorded at Tollu, being 1m at 11.9% copper from 31m downhole (TLC153).

  • Drilling at the intersection of the vein systems of the Chatsworth Prospect and Eastern Reef Prospect (TLC166) confirms mineralisation is not lost at depth beneath historical drillhole TLC045 which intersected a thick lens of mineralisation of 27m at 1.45% Copper from 232m downhole (TLC045).

  • These drilling results validate the prospectivity of Redstone’s tenure and its potential to host economic copper mineralisation.

  • Copper sentiment returning strongly following global lockdown lows in March, arising from potential COVID‐19 related mine production issues.

    *A table of drill collar locations is presented in Appendix 1 and a table of significant results has been included in Appendix 2. The JORC Table 1 for these results can be found in Appendix 3.

    Redstone Resources Limited ABN 42 090 169 154 www.redstone.com.au 60 Havelock Street, West Perth WA 6005 Tel: 08 9328 2552 Fax: 08 9328 2660 Email: [email protected]


Redstone Resources Limited (ASX: RDS) is pleased to announce the final assay results from its recent reverse circulation (RC) drilling at the Tollu Copper Vein Project (Tollu), at the Company’s 100% owned West Musgrave Project (the Project).


A total of three RC drill holes for 662m was completed on Tollu. Two drill holes, TLC172 and TLC173, were aimed at testing continuity of mineralisation lenses previously intersected in the 2017 drilling of the Forio Prospect (ASX announcement of 31 October 2017). Another drill hole, TLC166, was aimed at testing for deeper mineralisation below historical drilling at the intersection of the Chatsworth and Eastern Reef Prospects (Figure 1). The significant assay results for these drill holes is summarised above. 


Redstone Chairman, Richard Homsany, commenting on the results said:

“We are very pleased to report further excellent high grade copper results at Tollu. All Tollu drilling campaigns have returned high grade copper and the availability of further funding is required to unlock the value of Redstone’s West Musgrave tenure. 


Redstone has proven short to medium scale continuity, both laterally and to depth, of the thick high grade lens of copper mineralisation intersected at the Forio Prospect. In addition the Company has shown that very thick mineralisation discovered at the intersection of the Chatsworth and Eastern Reef vein systems is not lost at depth as was previously thought.


These results validate the prospectivity of Redstone’s tenure to host potential economic copper mineralisation. There is confidence that further high grade lenses at Tollu could be discovered with further drilling. Redstone will consider and evaluate what next steps are available to it at Tollu.”


Figure 1 – Tollu Drill Hole Location Map

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ASX Release 25th June 2020

ABOUT REDSTONE RESOURCES

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Visit Redstone Resources Website


About Redstone Resources Ltd

Redstone Resources Ltd (ASX: RDS) is a Perth-based company focused on highly prospective copper exploration properties in the West Musgrave region of Western Australia.


Redstone’s 100% owned Tollu Project is located in the south-east portion of the West Musgrave region of Western Australia. The Tollu Project consists of a large swarm of hydrothermal copper rich quartz veins in a mineralised system covering an area at least 5km2. Malachite-rich gossans associated with quartz veins are exposed at surface and form part of a dilatational system between two major structures within the Tollu Fault Zone.


Redstone’s most recent drilling campaign resulted in the delineation of its maiden Mineral Resource for the Tollu Project estimated to 3.8Mt @ 1.0% copper, which equates to 38,000 tonnes of contained copper, including 8,000 tonnes of Cu oxide resource and 0.01% of cobalt, which equates to 535 tonnes of contained cobalt. This is in addition to an increased Conceptual Exploration Target for the Tollu Project of 31 to 47 million tonnes of mineralisation at a conceptual grade range of 0.8 – 1.3% Cu, containing 259,000 to 626,000 tonnes of copper.


The potential quantity and grade of the Target is conceptual in nature. It is important to note that there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Given Tollu drilling to date is constrained to less than 2% of the tenement area the upside to the Mineral Resource estimate with further drilling remains unlimited.


Visit Redstone Resources Website

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