Following further geological review, planned drilling in the 2021 Exploration Programme (the Programme) at Redstone’s 100% owned West Musgrave Copper Project (the Project) will now include testing a historic diamond drill hole (A‐101) completed by Southwestern Mining Limited (SWM), formerly an INCO subsidiary, for nickel prospectivity.
SWM was focused on nickel mineralisation in the area and completed three diamond drill holes (A‐101, A‐102 and A‐108), however, only one of these holes, A‐101, was assayed for nickel, yielding a maximum value of 0.16% Ni over 1.6m from 99m downhole (Laine, 1957)1. The other two holes were not assayed.
Drill hole A‐101 was drilled into a major N‐S trending quartz vein associated with but not hosting the Tollu copper mineralisation – A‐101 was never followed up by SWM, however Redstone believe a nickel grade of 0.16% is significant in the context of nickel sulphide prospectivity proximal to the Tollu copper mineralisation.
The Tollu copper deposit is situated only 50km to the east of the world class nickel, copper and PGE deposit of Nebo Babel currently undergoing feasibility assessment by Oz Minerals Limited, and Redstone consider that similar geology could be present within its West Musgrave Project (nickel, copper, PGE mineralisation or even more massive sulphide variants of similar geological theme).
In addition to the nickel prospectivity identified at the SWM hole, the Project has significant potential for further copper mineralisation with outstanding walk up drill targets.
Further evaluation of the broader highly prospective West Musgrave Project has the potential to add to its current JORC compliant Tollu copper resource (3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper2), both at Tollu and areas outside of Tollu.
The Programme is planned to commence once all approvals are obtained and a drill rig is secured.
