EL 24009 Partial relinquishment report for period ended 15 December 2017

Abstract

EL 24009 was acquired to investigate aeromagnetic anomalies south-east of Tennant Creek within the Palaeoproterozoic basement rocks. The area is considered prospective for copper, gold and base metal mineralisation associated with Iron Oxide Copper Gold (IOCG) mineralising systems within the Proterozoic Warrumunga Formation. The Department of Primary Industry and Resources on 15 December 2017 cancelled 3 blocks from EL 24009 for under-expenditure under section 105(1)(b). Red Metal selected three blocks interpreted to have lower exploration potential. No field programs were conducted by Red Metal Limited within the cancelled blocks.