Redstone Resources (ASX:RDS) reports the presence of ‘significant high-grade’ copper mineralisation following reverse circulation (RC) drilling at the Tollu Copper Project, as part of its 100% owned West Musgrave Project in Western Australia.
The company’s share price has surged 12.5% as of 2pm AWST.
The results were generated by three RC drill holes for 373m at the projects Forio Prospect, and have highlighted a more connected and thicker lens of ‘high-grade’ copper mineralisation than portable-XRF analysis suggested.
Key intercepts include:
Hole TLC181: 34m @ 1.07% Cu from 15m downhole depth, incl.
- 2m @ 3.21% Cu from 19m downhole;
- 1m @ 2.48% Cu from 28m downhole;
- 1m @ 1.99% Cu from 35m downhole; and
- 1m @ 2.52% Cu from 40m downhole
The company also notes that drillhole TLC182 has successfully highlighted the potential for ‘significant’ copper mineralisation close to surface while drill hole TLC180 has expanded the previously identified quartz vein to 10m thick.
drillhole TLC182 has successfully highlighted the potential for ‘significant’ copper mineralisation close to surface
In addition, Redstone reports that further evaluation of its Tollu Cu Project, which comprises the Forio Prospect, surrounding target areas and the broader West Musgrave Project, delivered the potential to increase the Tollu copper Mineral Resource Estimate (MRE).
The West Musgrave Project is located between OZ Minerals’ (ASX:OZL) Nebo Babel prospect and Nico Resources’ Wingellina Ni-Co Project within the Musgrave region of Western Australia and comprises the Tollu Copper deposit.
Redstone Resources owns 100% of all tenements associated with the project, which currently boasts an initial 2012 JORC-compliant MRE of 3.8Mt @ 1% Cu, containing 38,000 tonnes of Cu.
Redstone Resources announces that further geochemical assay results from the late 2021 drilling campaign will be announced in the near future.
