Redcastle Resources (ASX:RC1) has increased its landholding by sixfold after picking up the ‘TBone Belt’ acquisition, adding some 72sq.km to its overall project digs.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
This content has been prepared as part of a partnership with Redcastle Resources Ltd and is intended for informational purposes only.
To the interest (if not joy) of the company’s on-site geotechs, Redcastle noted shear zones occurring on the expanded acreage Monday; historic workings may or may not guide modern exploration efforts.
Directly adjacent to the company’s two other flagship target zones of interest, called Redcastle Reef and Queen Alexandra, the company also on Monday pointed to nearby haulage roads ideal for a potential future wherein ramped-up ore extraction takes place on-site.
The fortunes of a $4M placement will underpin early-stage drilling onsite the newly expanded project boundary envelope with privately held BML Ventures, on a JV basis, pitching in.
Within the ‘TBone’ package are numerous targets the company describes as “walk-up” ready; some elecromag geophys imagery exists for some targets within the new area, further bolstering geotech interest. All data will “be immediately acquired and reprocessed,” Redcastle wrote.
Here out, the company intends to finalise green and red tape paperwork; integrate re-processed electromag data with existing structural mapping iterations; run further drone surveys over high-interest targets and “identify…logistical strategies for surface geochem sampling,” which suggests to this finance journalist there’s a lot of scrub (or steep gradients.)
“TBone gives Redcastle an enhanced pipeline of near-surface, structurally controlled targets right next to our existing projects—including targets of potentially significant strike magnitude that can be tested quickly and cheaply,” RC1 Chair Dr. Ray Shaw said.
RC1 last traded at 1.1cps.
Join the discussion: See what HotCopper users are saying about Redcastle Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.