Summary.
The electrification shift is well in progress and has actually stimulated a development in need for unusual metals, such as lithium and base metals, consisting of nickel and copper, which most tidy innovations need. The total belief for these battery metals stays healthy and positive, even amidst international financial chaos.
Australia is supporting this development in need through its mining-friendly, tier-1 jurisdictions The nation is a world leader in producing and exporting a variety of metals and minerals, consisting of iron, copper, lithium, nickel, bauxite and gold. Australia produces considerable quantities of 19 sought-after minerals from more than 350 operating mines The Musgrave Province includes a Mesoproterozoic crystalline basement surface that reaches throughout the shared borders of Western Australia, the Northern Area and South Australia. The surface has considerable deposits of a number of necessary metals, consisting of nickel, platinum group aspects (PGEs), copper, gold, lead, zinc, chromite, and unusual earth aspects (REEs). Yet, much of Musgrave stays underexplored, particularly for the base metals the world now requires.
Redstone Resources (ASX: RDS) is a base and rare-earth elements expedition business, exploring its 100-percent-owned, extremely potential West Musgrave Task, that includes the Tollu Copper deposit, situated in the West Musgrave Province of Western Australia. The business’s West Musgrave Task lies proximal to BHP’s first-rate Nebo-Babel nickel-copper-PGE sulphide deposit and Succoth copper (nickel, palladium) deposit, and Nico Resources’ Wingellina nickel-cobalt task. Redstone likewise has other pending tenement applications potential for nickel and copper in the exact same area. The business is led by a management group with competence in geology and mineral expedition, company advancement and business law, producing self-confidence in the group’s capability to take advantage of its possessions.
The special Musgrave surface has actually currently drawn the interest of significant miners, such as BHP. BHP is advancing with the advancement of its Nebo-Babel nickel-copper-PGE sulphide deposit, which has actually been approximated to have a resource of 390 million tonnes grading 0.33 percent copper and 0.30 percent nickel, for 1.2 million tonnes of consisted of nickel metal and 1.3 million tonnes of consisted of copper metal (Mea + Ind + Inf– 2012 JORC). Last regulative approval to start building and construction of the Nebo-Babel mine has actually been approved. Other discoveries and deposits in the location, such as the Wingellina nickel-cobalt deposit, suggest the capacity of the West Musgrave area to end up being a substantial base metal jurisdiction.
Redstone’s flagship, 100-percent-owned West Musgrave Task is positioned in between these 2 deposits– roughly 40 kilometres east of BHP’s Nebo Babel nickel-copper-PGE deposit and 50 kilometres west-southwest of Nico Resources’ Wingellina nickel-cobalt deposit. Redstone’s West Musgrave Task is extremely potential yet mainly underexplored. The property has the ideal geological and structural setting for big magmatic nickel-copper sulphide deposits, volcanic-hosted huge sulphide (VHMS) deposits and other big invasive associated hydrothermal systems.
Place of Redstone’s West Musgrave Task, that includes the Tollu copper deposit, in relation to the first-rate Nebo-Babel Ni-Cu-PGE deposit.
The 100-percent-owned Tollu Copper Vein deposit, situated within the West Musgrave Task, has a JORC-compliant indicated and presumed resource quote of 3.8 million tonnes grading 1 percent copper, for 38,000 tonnes of consisted of copper with a cut-off of 0.2 percent. There is likewise a present approximated conceptual expedition target *, recommending a capacity for approximately 627,000 tonnes of copper at Tollu. (* conceptual expedition target varies from 31 to 47 million tonnes of mineralization at 0.8 to 1.3 percent copper, including 259,000 to 627,000 tonnes copper.)
Outdoors Australia, Redstone Resources is an emerging battery metals explorer and has actually been constructing its portfolio of lithium and other vital mineral possessions in Canada.
In Might 2023, the business signed a special alternative arrangement to obtain one hundred percent interest in the Attwood Lake Location Lithium Characteristic in Northwestern Ontario. The residential or commercial properties are thought about extremely potential for lithium and/or unusual component pegmatites.
Arise From the Stage 1 Expedition Program at Attwood Lake revealed various pegmatite outcrops. The program included a helicopterâsupported geological mapping and tasting program for lithium and rareâearth-element-bearing pegmatites. Arise from the 209 rock grab samples gathered suggest raised Li exists throughout the task.
In July 2023, Redstone Resources participated in another special alternative arrangement to obtain one hundred percent interest in the Radisson East and Sakami Projects situated in the respected James Bay Lithium District in Quebec, host to a number of sophisticated lithium tasks and brand-new lithium discoveries in Canada consisting of:
- Patriot Metals (ASX: PMT, TSXV: PMET) Corvette Task (~ 170 kms east)
- Winsome Resources Ltd (ASX: WR1) Cancet Task (~ 100 kms east); and
- Q2 Metals Corp (TSXV: QTWO) Mia Lithium Task (~ 40 kms southeast).
These tasks have a combined location of 90 square kilometres and cover more than 50 kilometres of extremely potential greenstone belts with coincident lithiumâinâlake anomalism and are host to a number of recognized pegmatite events and outcrops.
Prospectivity analysis and multispectral analysis just recently carried out by Redstone Resources on Radisson East and Sakami has actually determined a substantial variety of high top priority lithium-caesium-tantalum (LCT) pegmatite target locations needing follow up expedition.
Redstone Resources likewise just recently participated in a 50/50 joint endeavor arrangement with Galan Lithium (ASX: GLN) to obtain one hundred percent of the extremely potential suite of lithium tasks that consist of the Camaro, Taiga and Hellcat Projects in the James Bay Lithium Province in Quebec. Redstone will be the supervisor of the joint endeavor which covers 5,187 hectares of period. The joint endeavor likewise protected an alternative to obtain one hundred percent of the PAK South and PAK Southeast Lithium Projects consisting of 1,415 hectares in Ontario’s Electric Opportunity near Frontier Lithium’s PAK Lithium Task.
A skilled management group leads Redstone with years of experience in the mineral resources sector, with competence in mineral expedition, mining operations and business financing.
Business Emphasizes.
- Redstone Resources is an Australia-based mineral expedition business checking out extremely potential residential or commercial properties for copper and nickel in the West Musgrave area of Western Australia.
- The West Musgrave area has actually currently drawn the interest of miners who have actually made considerable discoveries, consisting of the first-rate Nebo-Babel nickel-copper-PGE sulphide deposit and the Wingellina nickel-cobalt deposit.
- Redstone’s flagship West Musgrave Task lies near these existing tasks, just 40 km west of BHP’s Nebo-Babel deposit, showing the capacity of the business’s period.
- The business owns one hundred percent of the West Musgrave Task, that includes the Tollu Copper vein deposit.
- It has the ideal geological and structural setting for big magmatic nickel-copper sulphide deposits, VHMS deposits and other big intrusive-related hydrothermal systems
- The Tollu Copper vein deposit is evidence of a substantial hydrothermal system in the task location.
- In Might 2023, Redstone participated in an arrangement to obtain an one hundred percent interest in the Attwood Lake Location Lithium residential or commercial properties, in Northwestern Ontario, Canada, which was carefully followed by another alternative arrangement participated in in July 2023, to obtain one hundred percent of the Radisson East and Sakami Projects in James Bay, Quebec, Canada. These tasks are understood to be extremely potential for lithium and/or unusual earth component pegmatites, and near to a number of sophisticated lithium tasks.
- The Attwood and Radisson East and Sakami Task acquisitions match the business’s West Musgrave copper-nickel task and its method to increase direct exposure to the growing international battery metals and check out for vital minerals in high need.
- A Stage 1 expedition program performed on the Attwood task has actually determined various pegmatite outcrops with sample assay results showing raised lithium exists throughout the task.
- Numerous high top priority expedition targets have actually been validated from current prospectivity analysis and multispectral analysis carried out over the Radisson East and Sakami Projects.
- Redstone Resources has actually likewise participated in a 50/50 joint endeavor arrangement with Galan Lithium (ASX: GLN) to obtain one hundred percent of an extremely potential suite of lithium tasks in James Bay, Quebec, and alternative arrangement for lithium tasks in Northwestern Ontario.
- A strong management group leads the business with years of experience in the resources sector.
Secret Jobs.
The West Musgrave Task
The West Musgrave Task covers 237 square kilometres of extremely potential yet underexplored surface. The property is 40 kilometres east of the first-rate Nebo-Babel nickel-copper-PGE sulphide deposit owned by BHP, and includes ideal geological structure and settings for nickel-copper deposits. Redstone prepares to continue the expedition of the property to act on current drilling and expedition outcomes which determined various potential targets.
Considerably, current drilling at 7.5 km northeast of the Tollu Copper Vein deposit has actually validated for the very first time the existence of mafic-ultramafic invasions on the task, which are possible host and/or source rocks for nickel-copper-PGE ± cobalt mineralisation. This verification is considerable for Redstone particularly thinking about the western limit of the task location is just 40 kms east of the BHP-owned first-rate Nebo Babel nickel-copper-cobalt-PGE deposit and might likewise be a possible description for a source of the high grade copper at Tollu.
The Tollu Copper Vein Task
Redstone’s Tollu Copper Vein deposit lies within the wider West Musgrave Task and has actually currently produced appealing drilling outcomes. Tollu hosts a huge swarm of hydrothermal copper-rich veins in a mineralized system covering a location of a minimum of 5 square kilometres. Copper mineralization is exposed at the surface area and kinds part of a dilation system within and in between 2 significant shears.
Redstone has actually specified a JORC 2012 resource quote for Tollu of 3.8 million tonnes grading 1 percent copper, for 38,000 tonnes of consisted of copper and 0.01 percent cobalt, which corresponds to 535 tonnes of consisted of cobalt. Nevertheless, the business thinks about that this quote might be far higher with more drilling.
Drilling arises from Redstone Resources’ newest expedition program continue to provide impressive copper results for the Chatsworth and Forio potential customers at the Tollu Copper Vein deposit.
At Chatsworth, RC drill hole TLC205 converged 11 metres at 1.2 percent copper from just 29 metres downhole, extending the formerly converged highâgrade copper lens a even more 20 metres towards the surface area
Together with the previous drilling, TLC205 has actually revealed that the targeted high grade copper lens at Chatsworth depends on 26 metres thick (downhole), has a copper grade constantly over 1 percent copper and crosses 140 metres vertical from TLC205 to its inmost crossway to date in TLC188 at 174 metres-184 metres downhole. No drilling has actually checked below the crossway in TLC188 therefore this considerable, approximately 26 metre thick (downhole) vertically long top-quality copper lens stays open at depth.
Previous crossways of the exact same highâgrade copper lens converged in TLC205 consist of:
- TLC188 10 m at 2.51 percent copper from 174 m downhole consisting of 3 m at 4.71 percent copper from 175 m downhole;
- TLC189 26 m at 1.46 percent copper from 61 m downhole consisting of 1 m at 5.1 percent copper from 84 m downhole;
- TLC033 5 m at 2.21 percent copper from 100 m downhole; and
- TLC034 15 m at 1.39 percent copper from 136 m downhole consisting of 3 m at 3.67 percent copper from 122 m downhole.
E-W Cross-section of high grade copper lens at Chatsworth Possibility, Tollu Copper Deposit. Current crossway in RC drill hole TLC205 is revealed in addition to crossways from 2021 drilling in TLC188 and TLC189 along with crossways in historic drilling, RC drill holes TLC033 and TLC034
Current drilling has actually likewise provided more top-quality crossways at Forio, consisting of the greatest Cu grade ever converged with 1 m at 18.5 percent copper from 18 m downhole in RC drill hole TLC203.
Drilling finished at Forio in late 2022 RC drilling project at Tollu were focused on checking the connection along strike of a zone of high grade copper lenses at Forio determined in previous drilling.
The high grade Cu crossways at Forio consist of:
- 8 m at 4.1 percent copper from 13 m downhole depth (TLC203) consisting of 1 m at 18.5 percent copper from 18 m downhole.
- 4 m at 1.2 percent copper from 45 m downhole (TLC203)
- 6m at 1.47 percent copper from 80 m downhole (TLC201).
The high grade copper crossways in RC drill holes TLC201 and TLC203 extend the zone of high grade copper lenses at Forio along strike north and south for a minimum of 60 m constant.
Long-section of RC drill holes TLC201 and TLC203 just recently drilled to evaluate for extension of the high grade copper mineralisation converged in TLC181, TLC153 and TLC173 in previous drilling. Cross-section is drawn along strike N-S of the Forio vein system and looking towards the east
The considerable drilling crossways of highâgrade copper mineralisation at both the Chatsworth and Forio Potential customers (going back to 2017) at Tollu are yet to be consisted of in the existing JORC 2012 Tollu resource quote, which recommends there might be chances in the Tollu resource yet to be understood.
Attwood Lake Lithium Task
Geologist exposes pegmatite outcrop below lichen.
The Attwood Lake lithium task lies roughly 115 kilometres eastâsoutheast from the neighborhood of Pickle Lake in northwestern Ontario. Geologically, the task forms part of the Neoarchean English River subprovince of the Superior Province. It straddles or lies within a couple of kilometres of the limit to the Uchi subprovince, which lies to the north. The English River subprovince is an Archean gneiss belt of primarily metasediments and sedimentary derivedâorthogneisses. Reconnaissance bedrock mapping by the Ontario Geological Study (OGS) in 2016 determined mainly gneissic metasediments in the western part and along the eastern margin of the home, while the main part is controlled by muscoviteâbearing, peraluminous granitic rocks consisting of some metavolcanic and migmatized supracrustal rocks. Mapping determined muscoviteâbearing pegmatites, primarily in metasediments near their contact with the granitic rocks, a setting that agrees with for possible lithium pegmatites.
Arise From the Stage 1 Expedition Program at Attwood Lake revealed various pegmatite outcrops. The program included a helicopterâsupported geological mapping and tasting program for lithium and rareâearth-element-bearing pegmatites. Arise from the 209 rock grab samples gathered suggest raised Li exists throughout the task.
Radisson East and Sakami Lithium Projects
The Radisson East and Sakami lithium tasks in the respected James Bay Lithium District, Québec lie near:
- Patriot Battery Metals Inc. (ASX: PMT, TSXV: PMET) Corvette Task (~ 170 kms east)
- Winsome Resources Ltd (ASX: WR1) Cancet Task (100 kms east)
- Q2 Metals Corp (TSXV: QTWO) Mia Lithium Home (~ 40 kms southwest)
Radisson East and Sakami Lithium Task place map
The Sakami Lithium Task covers 68 square kilometres including 3 claim obstructs within the La Grande subâprovince roughly 14 kilometres north of the limit in between the La Grande and Opinaca subâprovinces, in a comparable geological setting as the Corvette (Patriot Battery Metals), Cancet (Winsome Resources) and Adina Lithium Deposits (Winsome Resources) lithium deposits, which all happen 10 to 20 kilometres north of the limit.
A prospectivity analysis has actually created eighteen target locations that are potential for LCT
pegmatites throughout the Sakami Lithium Task. The 2 easternmost claim obstructs follow a northâsouth pattern of raised prospectivity ratings, and the northwesternâmost claim block is highlighted by a raised prospectivity rating along its northern limit. The northâsouth pattern of prospectivity seems related to amphibolite and paragneiss systems along northânortheastâtrending faults. The greatest top priority targets on the Sakami Lithium Task are targets S01 through S04 to the south end of the task towards the La GrandeâOpinaca subâprovince limit. These high top priority targets happen in a location where a north to south trending amphibolite system is truncated by east-to-west faulting and a boost in low-level geochemical anomalism that is related to LCT pegmatites takes place in the instructions of the La GrandeâOpinaca local geological limit.
Prospectivity analysis of Sakami Lithium Task
The Radisson East Lithium Task covers 22 square kilometres including 2 claim blocks, both within the La Grande subâprovince and 55 kilometres to the northeast of Q2 Metals’ Mia Lithium task.
The prospectivity analysis has actually created 6 target locations for potential LCT pegmatites throughout the Radisson East Lithium Task. The easternmost claim block follows a northwest pattern of raised prospectivity, and consists of targets RE01 and RE02, the greatest top priority targets on this task. The westernmost claim block follows a northeast pattern of lower however somewhat raised prospectivity ratings and consists of targets RE03 through RE06. These patterns of raised prospectivity both follow basalt systems that underlay both claim obstructs.
Prospectivity analysis of Radisson East Lithium Task
An initial field program will be finished over the Sakami and Radisson East Projects to examine the greatest prospectivity target locations determined from a current prospectivity analysis, in combination with the considerable variety of possible LCT pegmatite outcrop targets determined by multispectral analysis. The very first pass program will consist of field mapping, outcrop tasting and geochemical tasting to validate the existence of pegmatite outcrops and to evaluate for lithium mineralisation.
Redstone and Galan Joint Endeavor
James Bay Lithium Projects – Taiga, Camaro and Hellcat
The Redstone and Galan 50/50 JV just recently obtained the James Bay Lithium Projects, particularly 3 high quality tasks including Taiga, Camaro and Hellcat Projects (TCH). The tasks cover 3,850 hectares and are nearby to Patriot Battery Metals’ (TSXV: PMET) Corvette Lithium discovery in James Bay. PMET’s CV8 pegmatite is among the finest brand-new acid rock lithium discoveries, with grab samples balancing 4.6 percent lithium oxide Li2O, and lies just 1.4 kilometres north of the Taiga Task. PMET’s newly-discovered CV13 pegmatite cluster lies 1.5 kilometres north of the Camaro Task.
James Bay Task Emphasizes:
The Taiga and Camaro are positioned in the Meso-Archean to Paleoproterozoic La Grande Subprovince of the Superior Province underlain by the Poste Le Moyne and Langelier plutons, respectively. The Camaro task is hosted in the Semonville Pluton with regional windows of the Rouget Development metabasalt. Characteristic are hosted in hornblende biotite diorite, quartz-rich diorite, biotite hornblende tonalite, granodiorite, granite, corporation, wacke, and amphibolite.
The Hellcat Task hosts Vieux Comptoir Granitic suite thought to be the source of the spodumene-bearing pegmatite dykes discovered within the area. The main greenstone within the task is amphibolites of the rouget greenstone belt, a comparable age to the Grupe de Guyer greenstone belt, situated within Patriot Battery Metals Corvette discovery.
Previous preliminary expedition on the James Bay Lithium Projects finished by Axiom Expedition determined 28 potential pegmatite dykes.
Ontario Lithium Projects – PAK South and PAK Southeast
As part of the joint endeavor with Galan Lithium, Redstone Resources has actually protected an alternative to obtain one hundred percent of the PAK South and PAK Southeast declares in Ontario’s “Electric Opportunity”, situated roughly 170 kilometres north of Red Lake, Ontario, in the Red Lake Mining Department.
The PAK South and PAK Southeast residential or commercial properties cover 1,258 hectares and 157 hectares, respectively, and a number of pegmatite systems have actually been determined in local mapping by the Ontario Geological Study (OGS).
The tasks are nearby to Frontier Lithium’s (TSXV: FL) PAK Lithium Task, that includes 2 lithium deposits, the Glow Deposit and PAK Deposit, and 2 other potential customers.
Highlighting the prospectivity of the Electric Opportunity province, Frontier just recently reported a crossway of 108.4 m of constant pegmatite balancing 2.12 percent lithium oxide from its Glow Pegmatite( Frontier’s TSX-V statement dated 25 September 2023).
Board and Management.
Richard Homsany – Non-executive Chairman
Richard Homsany is executive vice-president of Mega Uranium, a Toronto Stock market noted business and executive chairman of Toro Energy Limited, an ASX-listed uranium business. He is likewise the non-executive chairman of Galan Lithium and the Medical Insurance Fund of Australia Limited.
Prior to this Homsany was a business and business advisory partner with among Australia’s leading law practice. He is presently the principal of Cardinals Attorneys and Professionals and has actually been confessed as a lawyer for over twenty years. Homsany has substantial experience in business law, consisting of recommending public resources and energy business on business governance, financing, capital raisings, takeovers, mergers, acquisitions, joint endeavors and divestments.
He likewise has considerable board experience with openly noted resource business and in the resources market. He has actually likewise worked for an ASX leading 50-listed globally varied resources business in operations, danger management and business.
Homsany is a qualified practicing accounting professional and is a fellow of the Financial Solutions Institute of Australasia (FINSIA). He has a commerce degree and honors degree in law from the University of Western Australia and a graduate diploma in financing and financial investment from FINSIA.
Edward van Heemst – Non-executive Director
Edward van Heemst is a popular Perth entrepreneur with over 40 years of experience in handling a varied series of activities with big personal business.
He is the handling director of Lead Press and was formerly the veteran chairman of Perth Racing (1997 to 2016). He was likewise selected as non-executive chairman of NTM Gold, an ASX-listed business from July 2019 to March 2021.
Van Heemst holds a bachelor of commerce degree from the University of Melbourne, an MBA from the University of Western Australia and belongs to the Institute of Chartered Accountants Australia.
He has substantial understanding of capital markets and developed mining market networks.
Brett Hodgins – Technical Director
Brett Hodgins has more than twenty years of expert experience in the resources sector mostly concentrated on expedition and mining operations. He started his profession as a geologist with Bathrobe River Mining and Rio Tinto Iron Ore. Throughout that time he was included with the commissioning and advancement of the West Angelas and Hope Downs operations. Hodgins’ current functions consist of basic supervisor task advancement for Iron Ore Holdings and he is president/CEO of Central Iron Ore Ltd, a TSXV-listed business gold and iron ore explorer. He brings a wide variety of experience in expedition, expediency research studies, operations, and has a broad understanding of the resource sector.
Hodgins has actually finished a bachelor’s degree degree with honors in geology from Newcastle University, diploma of management and a graduate diploma in financing and financial investment from FINSIA.
Dr. Greg Shirtliff– Geological Specialist
Dr. Greg Shirtliff has more than twenty years of experience in industry-related geology and geochemistry, consisting of a PhD in mine-related geology from the Australian National University. Given that his research studies, Shirtliff has actually invested over 17 years in different functions in the mining and expedition market varying from ecological, mine geology, resource advancement, expedition and management functions, expedition and technical tasks inclusive of engineering and metallurgical. His functions have actually consisted of a number of years at ERA-Rio Tinto’s Ranger Uranium Mine, as the senior geoscientist for Cameco Australasia and more just recently as the lead geologist and technical supervisor for Toro Energy Ltd, an ASX-listed uranium advancement business in Australia where he is the expedition and technical lead accountable for increasing the practicality of the business’s uranium and mineral resources, establishing and directing the business’s uranium and non-uranium expedition method, assisting the business technically through EPA approval for a uranium, and assisting the engineering and metallurgical through to scoping level financial evaluation.
Shirtliff has actually had current expedition success at Toro Energy, finding several zones of huge nickel sulphide mineralization along the Dusty Komatiite, probably the very first huge nickel sulphide mineralization found in the Yandal Greenstone Belt in Western Australia.
Shirtliff holds directorships on independently owned consultancy and prospecting business.
Shirtliff is an enduring member of the Australian Institute of Mining and Metallurgy and the globally acknowledged Society of Economic Geologists.