EL 27389 Annual report for period ending 17 January 2014

Abstract

EL 27389 was acquired to investigate airborne magnetic anomalies within the Neoproterozoic Eastern Arunta Province (Irindina Province), considered to have potential for copper-nickel mineralisation in a continuation of the new style of pyrrhotite copper-cobalt mineralisation discovered in the region by Mithril Resources. The work carried out on EL 27389 during the third year of tenure included a review of existing airborne geophysical data. Red Metal Limited considers further work is warranted on the EL, proposing an airborne VTEM survey to be conducted in conjunction with adjacent tenements. A joint venture partner is being sought.