Redstone have an ELA (exploration licence application) for tenement E69/3750.
Formerly, Redstone had a joint-venture with FMI (90:10) for the same area (as tenements 2108 and 2109) in the late 2000s (excluding two blocks at Blackstone Range at the north-east corner). 3750 covers around 95% of the former project area.
3750 also includes the Halleys, Halleys NW, PGE Trend, Saturn, Helena and Titan prospects which have been found to be prospective for copper and Platinum Group Elements. Although the copper percentages were lower than that at Tollu, the benefit could be to add scale to the numbers found/estimated at Tollu and (if found from the next set of drilling) around the greater 2450 tenement.
The Tollu copper project became the company's focus after their initial sampling, surveys, and RAB & (limited) RC drill programs. By that stage, Halleys was the most drilled prospect, with RC drill copper numbers including (ending up to 80m underground, no overlap) - 5m @ 0.65%; 9m @ 0.56%; 10m @ 0.55%; 16m @ 0.37%; 23m @ 0.34%; 20m @ 0.31%.
RDS Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
