EL 27267 Annual report for period ending 18 March 2016

Abstract

EL 27267 was acquired by Red Metal Limited to investigate airborne magnetic anomalies within the Neo-Proterozoic 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. Red Metal conducted a review of existing data for EL 27267 and carried out an initial soil sampling geochemical survey and ground based electromagnetic survey over areas of interest. The geochemical response in the soil/sand was low in magnitude but slightly anomalous in copper, cobalt, nickel, lead, zinc, tin, barium and antimony with associated iron, manganese and clay. Further work will be required to validate the anomalies. Ground based, moving-loop electromagnetic survey lines were trialed across two of the soil geochemical targets. A significant EM response was recorded on one line.