RDM - Red Metal

[countryboy]

Host of JV with the big Australian:
Maronan J.V. - drilling by BHPBilliton Minerals is targetting Broken Hill or Cannington type targets. Recent drilling at Maronan has intersected encouraging widths of moderate-high-grade silver-lead mineralisation, including 14.1 metres @ 11.4% lead and 176 g/t silver from 501 metres depth. Further drilling is in progress.

McKinlay J.V. - drilling by BHPBilliton Minerals to date has intersected broad zones of Broken Hill type alteration with anomalous silver, lead and zinc values at the Breena Prospect. Drilling on a 200 metre wide zone of alteration at Breena prospect has returned encouraging lead and silver intercepts including 6.6 metres from 646.55 metres depth at 4.1% lead and 39.9 ppm silver. A four hole program designed to test along strike and down-dip from last year’s encouraging results is currently underway.

Western Valhalla Uranium Project - new tenements targeting uranium radiometric anomalies located 12 kilometres west of the Valhalla uranium deposit, north-west of Mount Isa. Like the Valhalla anomaly, the radiometric targets within the Western Valhalla Project trend in a north-north-westerly orientation and are hosted within the Eastern Creek mafic volcanic unit.. First-pass field verification and drill target definition are planned for the third quarter of 2007.

Corkwood Project - Phelps Dodge Australasia, Inc. will fund a drilling program in mid-2007 testing a range of IOCG targets including a deep drillhole below a wide zone of copper-gold mineralisation at Jimmy's Creek Prospect.

Other Projects - gravity targets proximal to copper mineralisation at Taldora and Elizabeth Springs projects are due to be drilled in the 2007 field season. Additional IOCG targets defined following regional gravity surveys over several other projects.

Cash on hand and free carried on a number of projects.

Recent dip in price to high 30s presents a good value entry point IMO

 

[ta2693]

Advantages
36c is cheap, compared with the recent placement to veritas security.
the lead grade is good. over 10% lead is very high grade.( I am pretty new to pb and zn company, Pls correct me if I am wrong)

Disadvantages
it is a little too deep (over 400m underground).
and diluted too much (BHP can earn 70% of the project.)

 

[countryboy]

Red Metal Limited has an issued capital of 83,176,472 fully paid ordinary shares and 12,747,059 options.

top 20 shareholders with around 50%

 

[countryboy]

U focus for August??

Recognition of the potential for Sedimentary Hosted uranium deposit types in new target settings has lead to an expanded uranium focus in South Australia and the Northern Territory. Roll-front type uranium targets in a similar geological setting to the Beverley Uranium Mine and Four Mile Prospect have been defined on the Lakes Project and Algebuckina Project.

A widely spaced regional drilling program on the Algebuckina Project has identified anomalous levels of uranium and vanadium mineralisation in targeted Mesozoic sedimentary units and the underlying weathered basement rocks, which support target models. Results from this first pass program are considered encouraging given the wide drill spacing and anomalous uranium and vanadium values are also observed in target units surrounding the Beverley uranium mine and Four Mile prospect. Airborne EM surveys are scheduled for August 2007 to map basement topography and potential uranium trap sites in preparation for drilling.

when the market is like this its agood time to keep your hands in your pockets and do some research

 

[countryboy]

as the post show RDM is a favourite of mine. Companies like RIO and BHP obviously like what they are doing. Today ann:

Maronan Project Silver, Lead, Zinc
(100% Red Metal , BHP Billiton earning 70%)
BHP Billiton is currently testing a range of Broken Hill/Cannington-type targets on the Maronan joint venture project located about ninety kilometres north of its Cannington operation. Drilling is targeting the depth extension of two parallel lead-silver mineralised banded iron formation (BIF) horizons. The first two holes in the 2007 program intersected significant widths, of moderate to highgrade lead-silver mineralisation (reported in announcements dated 4 June and 27 June, 2007). Recent assay results from drill holes MRN07003B and MRN07004A returned moderate grades and widths of lead mineralisation and local high grade zones of silver mineralisation including 6.11 metres at 7.26% lead, 84g/t silver from 832metres in the upper BIF and two metres at 440g/t silver and 4.8% lead from 828 metres in the lower BIF (Table 1 and Figure 1). These wide spaced holes have confirmed the significant vertical and lateral continuity of the mineralisation in both the upper and lower BIF horizons. Recent down hole electromagnetic surveying (DHEM) has identified significant off-hole conductors in holes MRN06002 and MRN07002 which may relate to zones of semi-massive pyrrhotite-leadsilver
mineralisation similar to that in MRN07001. DHEM surveying also indicates the conductor relating to the high-grade silver mineralisation from the lower BIF in MRN07003 continues down dip.Three dimensional modelling and geological interpretation to help target further drilling are in progress.

result small 15 % surge in SP today.

 

[mr. jeff]

There is some talk on HC re this stock and have just bumped as it popped its head up in the last few days. Some investigating to be done over the weekend. Holders, insight?
cheers!

 

[springhill]

MC - $14m
Current SP -11c
Ordinary shares - 112,115,885
Unlisted options - 6,500,000

Directors
Rob Rutherford - Managing Director
http://www.zoominfo.com/#!search/profile/person?personId=485181915&targetid=profile
Russell Barwick - Chairman
http://www.zoominfo.com/#!search/profile/person?personId=16313075&targetid=profile
Joshua Pitt - Non-executive Director
http://www.zoominfo.com/#!search/profile/person?personId=351098066&targetid=profile

Drilling Underway Testing a High-Grade Target on the Maronan Silver-Lead Project, Northwest Queensland
A deep angled drill hole has begun on the Maronan project testing a strong off-hole conductivity anomaly detected about 800 metres below surface by down-hole geophysical surveying of previous drilling.

Maronan
•Recent Red Metal Drilling
•Intersected very high-grade silver lead (14.5% lead, 375 g/t silver)
•Cannington grades
•Supports new interpretation
•New Interpretation
•Steep northward plunge
•not southward as previously targeted
•Potential larger Cannington size deposit at depth
•Large off-hole EM conductor down plunge of high-grade mineralisation
•Known >20m thick lead intercepts in Upper BIF (e.g. MND21)
•Drill ready

Corkwood
•Large regional IOCG alteration system
•New Xstrata JV
•2400m follow-up drilling on Jimmy’s Creek
•Electrical geophysics over regional targets
•RDM retain 49-40% of any discovery
Jimmy’s Creek Cu-Au-Ag Breccia
•153m @ 0.41% copper, 0.1g/t gold, 10g/t silver
•felsic volcanic host
•Open to south and at depth
•Drilling imminent

Gawler Craton
•Large IOCG Systems
•Eastern margin Gawler Craton SA
•Similar regional setting to Olympic Dam system.
•Magnetite and hematite associated copper
•Recent Cash Deals
•Rio Tinto/ Tasman
•BHPB/Minotaur
•BHPB/Archer
•BHP/Tasman
•BHPB/Copper Range

Pernatty Lagoon JV
•Large IOCG System
•Eastern margin Gawler Craton SA
•Similar regional setting to Olympic Dam system
•Untested stand out gravity and magnetic targets
•District scale halo alteration
•Magnetite and hematite associated copper
•Joint venture tender process initiated

Paradox Basin
•Paradox Basin
•Thick salt units deposited in Upper Carboniferous
•Overlain by Permian red bed sediments
•Extensive seismic and old oil well data
•Known Potash
•Multiple potash horizons within thick salt unit
•Solution mining at Moab, Utah (Intrepid- NYSX)
•Horizons extend into Colorado
•Dolores Anticline
•Red Metal review discovered potash in two old oil wells about 17 kilometres apart
•At 1700-1900m depth
•Prospecting Permit Applications
•22 in total,166 square kilometers
•On Federal administered lands
•History of oil/gas/uranium exploration and mining
•Grant
•Pending environmental assessment of proposed drill sites
•Outcome expected by 3rd quarter 2012

•Potash 5 horizon
•JORC compliant “Exploration Target” defined (not a Mineral Resource)
•Approximately 940Mt to 1,140 Mt sylvinite
•Grade ranging between 20% and 30% KCl,
•Average bed thickness varying between 3.5 and 5.2 metres
•Depths ranging between 1600 to 1900 metres
•Target potentially amenable to solution mining using proven vertical well extraction methods
•Scope to produce about 200kt-2Mt potash per year

•Potential for vast tonnages identified in underlying beds
•Potash 6, Potash 9 and Potash 19
•Could significantly lower unit production cost if extractable with Potash 5
•Potash 9 looks viable


There is really strong speculative potential in this.
In the interests of being honest and accountable, it was suggested to me by the company's broker to take a look at this one and consider a holding.
I have not at this point, but will inform if I do.

 

[springhill]

Nice breakout on decent volume from RDM.

 

[springhill]

Drilling Underway Testing Possible Extension to the Jimmy’s Creek Copper-Gold-Silver Mineralised Breccia.

Joint Venture partner Xstrata Copper have recommenced a three hole 3,000 metre drill program testing the possible extension to the Jimmy’s Creek copper-gold-silver breccia discovery on Red Metal’s Corkwood project, northwest Queensland.

The Corkwood project is situated about 100 kilometres to the northwest of the large Ernest Henry copper-gold ore body and contains numerous large magnetic target zones considered prospective for repeats of this style of mineralisation. Intersections of wide zones of significant copper, gold and silver mineralisation have been achieved on the Jimmy’s Creek breccia prospect including a best intersection of 0.41% copper, 0.1 g/t gold and 10g/t silver over a down-hole interval of 153 metres. This prospect shares similar geological characteristics to the Ernest Henry copper-gold ore body and is the main focus of Xstrata Copper’s current drill program.

In addition, Xstrata Copper is undertaking magneto-telluric surveying over several other targets in the region in preparation for drilling later in the year.

Red Metal’s equity in any discovery on the Corkwood project could vary between 40% or 49% dependent upon Xstrata Copper’s election.

Red Metal currently has exposure to two separate and exciting drill programs underway on the Corkwood project and the 100% owned, Maronan silver-lead project also in the Mount Isa region (see ASX announcement dated 16 July 2012). Results from these exciting programs are expected during the quarter.

 

[springhill]

Fantastic SP increase over the last month for RDM

 

[springhill]

More Visible Lead Sulphide Mineralisation Intersected on the Maronan Silver-Lead Project, Northwest Queensland

Continuation of the deep angled hole (MRN12003) on the Maronan project has intersected more visible lead sulphide mineralisation in the lower banded iron formation (Lower BIF) target horizon.
This new intersection is additional to those recently reported in the parallel Upper BIF and comprises strong, fine-grained, bedded lead sulphide mineralisation over a true width of 4.35 metres.
The lead sulphide abundance from the MRN12003 intercepts in both the Upper BIF and now the Lower BIF are visually comparable with the previous high-grade mineralisation intersected in MRN11003A (refer Red Metal ASX announcement on 6 March 2012). The key to the significance of these intersections are their silver and lead grades and whether they can be replicated in nearby holes.
MRN12003 which aimed to test a strong off-hole conductor veered and steepened intersecting the BIF horizons about 280 metres below the centre of the modelled target zone which still remains untested. Down-hole electromagnetic surveying to help focus the positioning of a short daughter hole towards the potentially thickened, conductive target zone is in progress. Interpretation of the survey data and first assay results are anticipated over the next month.

 

[springhill]

Still a strong news flow coming in the next couple of months for RDM.

Daughter Hole Targeting the Strong Off-hole Conductor Initiated on the Maronan Silver Lead Project

Down-hole electromagnetic surveying of the primary diamond drill hole MRN12003 has confirmed the location of the strong off-hole conductor that defines the target for this current program as being centred about 200 metres above and 100 metres north of the current hole
Drilling of a daughter hole that will be deflected from MRN12003 to intersect the targeted off-hole conductor has now commenced.

Maronan Project: Advanced 3D modelling of down-hole electromagnetic data showing untested strong off-hole conductors.
Detailed inspection of core from the primary hole has now been completed and indicates that the visible lead mineralisation in both the Upper BIF and Lower BIF horizons is typical of peripheral mineralisation to the Maronan mineralized system. The fresh cut core reveals narrow zones of strong visible lead sulphide inter-bedded with zones of weaker, finely disseminated mineralisation. These observations are in keeping with the current geological model which places the hole on the southern margin of the modelled target and is consistent with the electromagnetic survey results.

Assay results from this primary hole are expected within four weeks.

The daughter hole will take some three weeks to complete with assays expected within the month thereafter.

 

[pavilion103]

This has been a great one. I've posted charts in other threads.

Will continue to monitor. Last 2 days up from around 28c to a high of 42 this morning

 

[tech/a]

This has been a great one. I've posted charts in other threads.

Will continue to monitor. Last 2 days up from around 28c to a high of 42 this morning

Well done keep an eye on sharp pull backs.

.36 looks like the place for at least a partial trailing stop (say 40-60% of position.).
Let the rest run a little as long as that portion of the trade doesnt fall below B/E.
Then hit it again if it takes off again.(Add to the open position still left).
Trade management will maximise risk mitigation and keep profits safe.

 

[pavilion103]

Today's progress.

 

[tech/a]

Today's progress.

View attachment 49909

What's your plan?

 

[pavilion103]

Stop up to 0.355 on the initial position.



1) I was unsure if this is a place to buy more at open with a stop at 0.355 below the gap up bar. (very tight but very high R:R potential)

2) Or if it best to wait until it clears yesterdays big bar with a buy stop above that (but an initial stop there of 0.355 is very wide - where would the stop go?)


Clearly I am not confident about how I would add to the position so it would simply be moving the stop on the initial position up to 0.355.


Does either point 1) or 2) make sense in this scenario?

 

[tech/a]

Stop up to 0.355 on the initial position.

1) I was unsure if this is a place to buy more at open with a stop at 0.355 below the gap up bar. (very tight but very high R:R potential)

2) Or if it best to wait until it clears yesterdays big bar with a buy stop above that (but an initial stop there of 0.355 is very wide - where would the stop go?)


Clearly I am not confident about how I would add to the position so it would simply be moving the stop on the initial position up to 0.355.


Does either point 1) or 2) make sense in this scenario?

There have been 2 thrusts and today was a test of the high.
The gap still holds and price did close higher than yesterday.
So the picture is that price is holding from the control bar

I would personally wait to see what tomorrow brings with
The original stops left where they are.

Re evaluate tomorrow.--- but that's just me

 

[burglar]

What's happened with this one?

No idea, but thought is was great value between 20c and 30c

Time will tell!

 

[burglar]

In a trading halt.
Should I be expecting bad news?