Hi,
just been going through the Redstone Resources website and prospectus and I still get a buzz from it. This is going to be huge. Very little exploration done in there area over the last 25 years due to native title issues. With BHP next door and an in ground value of $25 billion and similar geology throughout there territory, well who knows what it will be worth. Here is a summary from the website.
"The team at Redstone, has secured an extensive and strategic portfolio of highly prospective properties in the West Musgrave Region in Western Australia, totalling 4324 km². The West Musgrave Region is one of the least explored Proterozoic terranes in Australia, representing a unique and unparalleled opportunity for greenfields exploration and the potential discovery of world-class deposits.
• The West Musgrave Region has the appropriate geological setting to potentially host world-class Voisey’s Bay Ni-Cu-PGE type deposits and Olympic Dam-type iron-oxide copper-gold (IOCG) deposits.
• Discovery of the Nebo and Babel Ni-Cu-PGE deposits (in ground value of $25 billion) within the first year of on-ground exploration by WMC validates the district as a major mineral province.
• Mineral exploration using modern techniques and exploration models have never been applied to the Redstone Tenement Package.
• The project areas have relatively shallow cover and are amenable to modern geochemical and geophysical techniques, allowing for rapid and efficient mineral exploration.
• Formal access agreements with the indigenous Land Council administering the Ngaanyatjarra Reserve are in place, allowing exploration to proceed progressively.
Exploration targets on Redstone tenements with great economic potential include:
• High-grade nickel mineralisation at Red Rock over 300m strike (rock chip samples up to 6.8% Ni and 5.7% Co), with two nickel sulphide targets defined for drilling;
• Significant copper mineralisation at Tollu over 2 km² strike (averaging 6.75% Cu from 68 rock chip samples), open under cover in all directions and ready to drill;
• The Saturn Anomaly, a 12 km long layered intrusive which is highly prospective for Ni-Cu-PGE, has direct comparisons to the giant Jinchuan Ni-Cu deposit (China), Panton Sill PGE Deposit (Australia) and Bushveld Pt-Pd (South Africa)
• Two geophysical targets at Baggaley Hills, with geophysical signatures comparable to those of the giant Olympic Dam IOCG deposit.
In addition, the Redstone global targeting team aims to enhance company value through the application of scientific, technical and commercial skills and industry networks to:
• Identify and target mineral provinces globally, with potential for world-class discoveries;
• Generate targets with high discovery potential at low geological risk;
• Secure entry to prime exploration acreage through international industry relationships; and
• Explore utilizing conventional and innovative exploration to test high-quality targets."
At close of business Friday they have a .56c per share value which is based entirely on there territory which has not even been drilled. When drilling commences I think I will be besides myself.
Kevro