Introduction.
The electrification shift is well in progress and has actually stimulated a development in need for unusual metals, such as lithium and base metals, consisting of nickel and copper, which most tidy innovations need. The general belief for these battery metals stays healthy and positive, even amidst international financial chaos.
Australia is supporting this development in need through its mining-friendly, tier-1 jurisdictions The nation is a world leader in producing and exporting a myriad of metals and minerals, consisting of iron, copper, lithium, nickel, bauxite and gold. Australia produces considerable quantities of 19 sought-after minerals from more than 350 operating mines The Musgrave Province includes a Mesoproterozoic crystalline basement surface that reaches throughout the shared borders of Western Australia, the Northern Area and South Australia. The surface has considerable deposits of a number of vital metals, consisting of nickel, platinum group components (PGEs), copper, gold, lead, zinc, chromite, and unusual earth components (REEs). Yet, much of Musgrave stays underexplored, particularly for the base metals the world now requires.
Redstone Resources (ASX: RDS) is a base and rare-earth elements expedition business, exploring its 100-percent-owned, extremely potential West Musgrave Job, that includes the Tollu Copper deposit, situated in the West Musgrave Province of Western Australia. The business’s West Musgrave Job lies proximal to BHP’s first-rate Nebo-Babel nickel-copper-PGE sulphide deposit and Succoth copper (nickel, palladium) deposit, and Nico Resources’ Wingellina nickel-cobalt job. Redstone likewise has other pending tenement applications potential for nickel and copper in the very same area. The business is led by a management group with competence in geology and mineral expedition, organization advancement and business law, producing self-confidence in the group’s capability to profit from its possessions.
The special Musgrave surface has actually currently drawn the interest of significant miners, such as BHP. BHP is advancing with the advancement of its Nebo-Babel nickel-copper-PGE sulphide deposit, which has actually been approximated to have a resource of 390 million tonnes grading 0.33 percent copper and 0.30 percent nickel, for 1.2 million tonnes of consisted of nickel metal and 1.3 million tonnes of consisted of copper metal (Mea + Ind + Inf– 2012 JORC). Last regulative approval to start building and construction of the Nebo-Babel mine has actually been given. Other discoveries and deposits in the location, such as the Wingellina nickel-cobalt deposit, suggest the capacity of the West Musgrave area to end up being a substantial base metal jurisdiction.
Redstone’s flagship, 100-percent-owned West Musgrave Job is positioned in between these 2 deposits– roughly 40 kilometres east of BHP’s Nebo Babel nickel-copper-PGE deposit and 50 kilometres west-southwest of Nico Resources’ Wingellina nickel-cobalt deposit. Redstone’s West Musgrave Job is extremely potential yet mostly underexplored. The possession has the ideal geological and structural setting for big magmatic nickel-copper sulphide deposits, volcanic-hosted enormous sulphide (VHMS) deposits and other big invasive associated hydrothermal systems.
Area of Redstone’s West Musgrave Job, that includes the Tollu copper deposit, in relation to the first-rate Nebo-Babel Ni-Cu-PGE deposit.
The 100-percent-owned Tollu Copper Vein deposit, situated within the West Musgrave Job, has a JORC-compliant indicated and presumed resource quote of 3.8 million tonnes grading 1 percent copper, for 38,000 tonnes of consisted of copper with a cut-off of 0.2 percent. There is likewise an existing approximated conceptual expedition target *, recommending a capacity for approximately 627,000 tonnes of copper at Tollu. (* conceptual expedition target varies from 31 to 47 million tonnes of mineralization at 0.8 to 1.3 percent copper, including 259,000 to 627,000 tonnes copper.)
Outdoors Australia, Redstone Resources is an emerging battery metals explorer and has actually been constructing its portfolio of lithium and other vital mineral possessions in Canada.
In Might 2023, the business signed a special choice contract to obtain one hundred percent interest in the Attwood Lake Location Lithium Residence in Northwestern Ontario. The residential or commercial properties are thought about extremely potential for lithium and/or unusual aspect pegmatites.
Arise From the Stage 1 Expedition Program at Attwood Lake revealed many pegmatite outcrops. The program included a helicopterâsupported geological mapping and tasting program for lithium and rareâearth-element-bearing pegmatites. Arise from the 209 rock grab samples gathered suggest raised Li exists throughout the job.
In July 2023, Redstone Resources participated in another unique choice contract to obtain one hundred percent interest in the Radisson East and Sakami Projects situated in the respected James Bay Lithium District in Quebec, host to a number of sophisticated lithium jobs and brand-new lithium discoveries in Canada consisting of:
- Patriot Metals (ASX: PMT, TSXV: PMET) Corvette Job (~ 170 kms east)
- Winsome Resources Ltd (ASX: WR1) Cancet Job (~ 100 kms east); and
- Q2 Metals Corp (TSXV: QTWO) Mia Lithium Job (~ 40 kms southeast).
These jobs have a combined location of 90 square kilometres and cover more than 50 kilometres of extremely potential greenstone belts with coincident lithiumâinâlake anomalism and are host to a number of recognized pegmatite events and outcrops.
Prospectivity analysis and multispectral analysis just recently carried out by Redstone Resources on Radisson East and Sakami has actually recognized a substantial variety of high top priority lithium-caesium-tantalum (LCT) pegmatite target locations needing follow up expedition.
Redstone Resources likewise just recently participated in a 50/50 joint endeavor contract with Galan Lithium (ASX: GLN) to obtain one hundred percent of the extremely potential suite of lithium jobs that consist of the Camaro, Taiga and Hellcat Projects in the James Bay Lithium Province in Quebec. Redstone will be the supervisor of the joint endeavor which covers 5,187 hectares of period. The joint endeavor likewise protected a choice to obtain one hundred percent of the PAK South and PAK Southeast Lithium Projects consisting of 1,415 hectares in Ontario’s Electric Opportunity near Frontier Lithium’s PAK Lithium Job.
A skilled management group leads Redstone with years of experience in the mineral resources sector, with competence in mineral expedition, mining operations and business financing.
Business Emphasizes.
- Redstone Resources is an Australia-based mineral expedition business checking out extremely potential residential or commercial properties for copper and nickel in the West Musgrave area of Western Australia.
- The West Musgrave area has actually currently drawn the interest of miners who have actually made considerable discoveries, consisting of the first-rate Nebo-Babel nickel-copper-PGE sulphide deposit and the Wingellina nickel-cobalt deposit.
- Redstone’s flagship West Musgrave Job lies near these existing jobs, just 40 km west of BHP’s Nebo-Babel deposit, suggesting the capacity of the business’s period.
- The business owns one hundred percent of the West Musgrave Job, that includes the Tollu Copper vein deposit.
- It has the ideal geological and structural setting for big magmatic nickel-copper sulphide deposits, VHMS deposits and other big intrusive-related hydrothermal systems
- The Tollu Copper vein deposit is evidence of a substantial hydrothermal system in the job location.
- In Might 2023, Redstone participated in an contract to obtain an one hundred percent interest in the Attwood Lake Location Lithium residential or commercial properties, in Northwestern Ontario, Canada, which was carefully followed by another choice contract participated in in July 2023, to obtain one hundred percent of the Radisson East and Sakami Projects in James Bay, Quebec, Canada. These jobs are understood to be extremely potential for lithium and/or unusual earth aspect pegmatites, and near a number of sophisticated lithium jobs.
- The Attwood and Radisson East and Sakami Job acquisitions match the business’s West Musgrave copper-nickel job and its technique to increase direct exposure to the growing international battery metals and check out for vital minerals in high need.
- A Stage 1 expedition program performed on the Attwood job has actually recognized many pegmatite outcrops with sample assay results suggesting raised lithium exists throughout the job.
- Numerous high top priority expedition targets have actually been verified from current prospectivity analysis and multispectral analysis carried out over the Radisson East and Sakami Projects.
- Redstone Resources has actually likewise participated in a 50/50 joint endeavor contract with Galan Lithium (ASX: GLN) to obtain one hundred percent of an extremely potential suite of lithium jobs in James Bay, Quebec, and choice contract for lithium jobs in Northwestern Ontario.
- A strong management group leads the business with years of experience in the resources sector.
Secret Tasks.
The West Musgrave Job
The West Musgrave Job covers 237 square kilometres of extremely potential yet underexplored surface. The possession is 40 kilometres east of the first-rate Nebo-Babel nickel-copper-PGE sulphide deposit owned by BHP, and includes appropriate geological structure and settings for nickel-copper deposits. Redstone prepares to continue the expedition of the possession to act on current drilling and expedition outcomes which recognized many potential targets.
Substantially, current drilling at 7.5 km northeast of the Tollu Copper Vein deposit has actually verified for the very first time the existence of mafic-ultramafic invasions on the job, which are possible host and/or source rocks for nickel-copper-PGE ± cobalt mineralisation. This verification is considerable for Redstone particularly thinking about the western border of the job location is just 40 kms east of the BHP-owned first-rate Nebo Babel nickel-copper-cobalt-PGE deposit and might likewise be a possible description for a source of the high grade copper at Tollu.
The Tollu Copper Vein Job
Redstone’s Tollu Copper Vein deposit lies within the more comprehensive West Musgrave Job and has actually currently produced appealing drilling outcomes. Tollu hosts a huge swarm of hydrothermal copper-rich veins in a mineralized system covering a location of a minimum of 5 square kilometres. Copper mineralization is exposed at the surface area and types part of a dilation system within and in between 2 significant shears.
Redstone has actually specified a JORC 2012 resource quote for Tollu of 3.8 million tonnes grading 1 percent copper, for 38,000 tonnes of consisted of copper and 0.01 percent cobalt, which corresponds to 535 tonnes of consisted of cobalt. Nevertheless, the business thinks about that this quote might be far higher with more drilling.
Drilling arises from Redstone Resources’ newest expedition program continue to provide exceptional copper results for the Chatsworth and Forio potential customers at the Tollu Copper Vein deposit.
At Chatsworth, RC drill hole TLC205 converged 11 metres at 1.2 percent copper from just 29 metres downhole, extending the formerly converged highâgrade copper lens a even more 20 metres towards the surface area
Together with the previous drilling, TLC205 has actually revealed that the targeted high grade copper lens at Chatsworth depends on 26 metres thick (downhole), has a copper grade constantly over 1 percent copper and crosses 140 metres vertical from TLC205 to its inmost crossway to date in TLC188 at 174 metres-184 metres downhole. No drilling has actually checked below the crossway in TLC188 therefore this considerable, approximately 26 metre thick (downhole) vertically long top-quality copper lens stays open at depth.
Previous crossways of the very same highâgrade copper lens converged in TLC205 consist of:
- TLC188 10 m at 2.51 percent copper from 174 m downhole consisting of 3 m at 4.71 percent copper from 175 m downhole;
- TLC189 26 m at 1.46 percent copper from 61 m downhole consisting of 1 m at 5.1 percent copper from 84 m downhole;
- TLC033 5 m at 2.21 percent copper from 100 m downhole; and
- TLC034 15 m at 1.39 percent copper from 136 m downhole consisting of 3 m at 3.67 percent copper from 122 m downhole.
E-W Cross-section of high grade copper lens at Chatsworth Possibility, Tollu Copper Deposit. Current crossway in RC drill hole TLC205 is revealed together with crossways from 2021 drilling in TLC188 and TLC189 in addition to crossways in historic drilling, RC drill holes TLC033 and TLC034
Current drilling has actually likewise provided more top-quality crossways at Forio, consisting of the greatest Cu grade ever converged with 1 m at 18.5 percent copper from 18 m downhole in RC drill hole TLC203.
Drilling finished at Forio in late 2022 RC drilling project at Tollu were focused on evaluating the connection along strike of a zone of high grade copper lenses at Forio recognized in previous drilling.
The high grade Cu crossways at Forio consist of:
- 8 m at 4.1 percent copper from 13 m downhole depth (TLC203) consisting of 1 m at 18.5 percent copper from 18 m downhole.
- 4 m at 1.2 percent copper from 45 m downhole (TLC203)
- 6m at 1.47 percent copper from 80 m downhole (TLC201).
The high grade copper crossways in RC drill holes TLC201 and TLC203 extend the zone of high grade copper lenses at Forio along strike north and south for a minimum of 60 m constant.
Long-section of RC drill holes TLC201 and TLC203 just recently drilled to check for extension of the high grade copper mineralisation converged in TLC181, TLC153 and TLC173 in previous drilling. Cross-section is drawn along strike N-S of the Forio vein system and looking towards the east
The considerable drilling crossways of highâgrade copper mineralisation at both the Chatsworth and Forio Potential customers (going back to 2017) at Tollu are yet to be consisted of in the existing JORC 2012 Tollu resource quote, which recommends there might be chances in the Tollu resource yet to be understood.
Attwood Lake Lithium Job
Geologist exposes pegmatite outcrop below lichen.
The Attwood Lake lithium job lies roughly 115 kilometres eastâsoutheast from the neighborhood of Pickle Lake in northwestern Ontario. Geologically, the job forms part of the Neoarchean English River subprovince of the Superior Province. It straddles or lies within a couple of kilometres of the border to the Uchi subprovince, which lies to the north. The English River subprovince is an Archean gneiss belt of mainly metasediments and sedimentary derivedâorthogneisses. Reconnaissance bedrock mapping by the Ontario Geological Study (OGS) in 2016 recognized mostly gneissic metasediments in the western part and along the eastern margin of the residential or commercial property, while the main part is controlled by muscoviteâbearing, peraluminous granitic rocks consisting of some metavolcanic and migmatized supracrustal rocks. Mapping recognized muscoviteâbearing pegmatites, mainly in metasediments near their contact with the granitic rocks, a setting that agrees with for possible lithium pegmatites.
Arise From the Stage 1 Expedition Program at Attwood Lake revealed many pegmatite outcrops. The program included a helicopterâsupported geological mapping and tasting program for lithium and rareâearth-element-bearing pegmatites. Arise from the 209 rock grab samples gathered suggest raised Li exists throughout the job.
Radisson East and Sakami Lithium Projects
The Radisson East and Sakami lithium jobs in the respected James Bay Lithium District, Québec lie near:
- Patriot Battery Metals Inc. (ASX: PMT, TSXV: PMET) Corvette Job (~ 170 kms east)
- Winsome Resources Ltd (ASX: WR1) Cancet Job (100 kms east)
- Q2 Metals Corp (TSXV: QTWO) Mia Lithium Home (~ 40 kms southwest)
Radisson East and Sakami Lithium Job area map
The Sakami Lithium Job covers 68 square kilometres including 3 claim obstructs within the La Grande subâprovince roughly 14 kilometres north of the border in between the La Grande and Opinaca subâprovinces, in a comparable geological setting as the Corvette (Patriot Battery Metals), Cancet (Winsome Resources) and Adina Lithium Deposits (Winsome Resources) lithium deposits, which all happen 10 to 20 kilometres north of the border.
A prospectivity analysis has actually produced eighteen target locations that are potential for LCT
pegmatites throughout the Sakami Lithium Job. The 2 easternmost claim obstructs follow a northâsouth pattern of raised prospectivity ratings, and the northwesternâmost claim block is highlighted by a raised prospectivity rating along its northern border. The northâsouth pattern of prospectivity seems related to amphibolite and paragneiss systems along northânortheastâtrending faults. The greatest top priority targets on the Sakami Lithium Job are targets S01 through S04 to the south end of the job towards the La GrandeâOpinaca subâprovince border. These high top priority targets happen in a location where a north to south trending amphibolite system is truncated by east-to-west faulting and a boost in low-level geochemical anomalism that is related to LCT pegmatites happens in the instructions of the La GrandeâOpinaca local geological border.
Prospectivity analysis of Sakami Lithium Job
The Radisson East Lithium Job covers 22 square kilometres including 2 claim blocks, both within the La Grande subâprovince and 55 kilometres to the northeast of Q2 Metals’ Mia Lithium job.
The prospectivity analysis has actually produced 6 target locations for potential LCT pegmatites throughout the Radisson East Lithium Job. The easternmost claim block follows a northwest pattern of raised prospectivity, and consists of targets RE01 and RE02, the greatest top priority targets on this job. The westernmost claim block follows a northeast pattern of lower however a little raised prospectivity ratings and consists of targets RE03 through RE06. These patterns of raised prospectivity both follow basalt systems that underlay both claim obstructs.
Prospectivity analysis of Radisson East Lithium Job
An initial field program will be finished over the Sakami and Radisson East Projects to examine the greatest prospectivity target locations recognized from a current prospectivity analysis, in combination with the considerable variety of possible LCT pegmatite outcrop targets recognized by multispectral analysis. The very first pass program will consist of field mapping, outcrop tasting and geochemical tasting to confirm the existence of pegmatite outcrops and to check for lithium mineralisation.
Redstone and Galan Joint Endeavor
James Bay Lithium Projects – Taiga, Camaro and Hellcat
The Redstone and Galan 50/50 JV just recently obtained the James Bay Lithium Projects, specifically 3 high quality jobs including Taiga, Camaro and Hellcat Projects (TCH). The jobs cover 3,850 hectares and are nearby to Patriot Battery Metals’ (TSXV: PMET) Corvette Lithium discovery in James Bay. PMET’s CV8 pegmatite is among the finest brand-new acid rock lithium discoveries, with grab samples balancing 4.6 percent lithium oxide Li2O, and lies just 1.4 kilometres north of the Taiga Job. PMET’s newly-discovered CV13 pegmatite cluster lies 1.5 kilometres north of the Camaro Job.
James Bay Job Emphasizes:
The Taiga and Camaro are positioned in the Meso-Archean to Paleoproterozoic La Grande Subprovince of the Superior Province underlain by the Poste Le Moyne and Langelier plutons, respectively. The Camaro job is hosted in the Semonville Pluton with regional windows of the Rouget Development metabasalt. Residence are hosted in hornblende biotite diorite, quartz-rich diorite, biotite hornblende tonalite, granodiorite, granite, corporation, wacke, and amphibolite.
The Hellcat Job hosts Vieux Comptoir Granitic suite thought to be the source of the spodumene-bearing pegmatite dykes discovered within the area. The main greenstone within the job is amphibolites of the rouget greenstone belt, a comparable age to the Grupe de Guyer greenstone belt, situated within Patriot Battery Metals Corvette discovery.
Previous preliminary expedition on the James Bay Lithium Projects finished by Axiom Expedition recognized 28 potential pegmatite dykes.
Ontario Lithium Projects – PAK South and PAK Southeast
As part of the joint endeavor with Galan Lithium, Redstone Resources has actually protected a choice to obtain one hundred percent of the PAK South and PAK Southeast declares in Ontario’s “Electric Opportunity”, situated roughly 170 kilometres north of Red Lake, Ontario, in the Red Lake Mining Department.
The PAK South and PAK Southeast residential or commercial properties cover 1,258 hectares and 157 hectares, respectively, and a number of pegmatite systems have actually been recognized in local mapping by the Ontario Geological Study (OGS).
The jobs are nearby to Frontier Lithium’s (TSXV: FL) PAK Lithium Job, that includes 2 lithium deposits, the Glow Deposit and PAK Deposit, and 2 other potential customers.
Highlighting the prospectivity of the Electric Opportunity province, Frontier just recently reported a crossway of 108.4 m of constant pegmatite balancing 2.12 percent lithium oxide from its Glow Pegmatite( Frontier’s TSX-V statement dated 25 September 2023).
Board and Management.
Richard Homsany – Non-executive Chairman
Richard Homsany is executive vice-president of Mega Uranium, a Toronto Stock market noted business and executive chairman of Toro Energy Limited, an ASX-listed uranium business. He is likewise the non-executive chairman of Galan Lithium and the Medical Insurance Fund of Australia Limited.
Prior to this Homsany was a business and business advisory partner with among Australia’s leading law practice. He is presently the principal of Cardinals Attorneys and Professionals and has actually been confessed as a lawyer for over twenty years. Homsany has substantial experience in business law, consisting of encouraging public resources and energy business on business governance, financing, capital raisings, takeovers, mergers, acquisitions, joint endeavors and divestments.
He likewise has considerable board experience with openly noted resource business and in the resources market. He has actually likewise worked for an ASX leading 50-listed globally varied resources business in operations, threat management and business.
Homsany is a licensed practicing accounting professional and is a fellow of the Financial Providers Institute of Australasia (FINSIA). He has a commerce degree and honors degree in law from the University of Western Australia and a graduate diploma in financing and financial investment from FINSIA.
Edward van Heemst – Non-executive Director
Edward van Heemst is a popular Perth business person with over 40 years of experience in handling a varied series of activities with big personal business.
He is the handling director of Lead Press and was formerly the veteran chairman of Perth Racing (1997 to 2016). He was likewise designated as non-executive chairman of NTM Gold, an ASX-listed business from July 2019 to March 2021.
Van Heemst holds a bachelor of commerce degree from the University of Melbourne, an MBA from the University of Western Australia and belongs to the Institute of Chartered Accountants Australia.
He has substantial understanding of capital markets and developed mining market networks.
Brett Hodgins – Technical Director
Brett Hodgins has more than twenty years of expert experience in the resources sector mainly concentrated on expedition and mining operations. He started his profession as a geologist with Bathrobe River Mining and Rio Tinto Iron Ore. Throughout that time he was included with the commissioning and advancement of the West Angelas and Hope Downs operations. Hodgins’ current functions consist of basic supervisor job advancement for Iron Ore Holdings and he is president/CEO of Central Iron Ore Ltd, a TSXV-listed business gold and iron ore explorer. He brings a wide variety of experience in expedition, expediency research studies, operations, and has a broad understanding of the resource sector.
Hodgins has actually finished a bachelor’s degree degree with honors in geology from Newcastle University, diploma of management and a graduate diploma in financing and financial investment from FINSIA.
Dr. Greg Shirtliff– Geological Expert
Dr. Greg Shirtliff has more than twenty years of experience in industry-related geology and geochemistry, consisting of a PhD in mine-related geology from the Australian National University. Given that his research studies, Shirtliff has actually invested over 17 years in different functions in the mining and expedition market varying from ecological, mine geology, resource advancement, expedition and management functions, expedition and technical jobs inclusive of engineering and metallurgical. His functions have actually consisted of a number of years at ERA-Rio Tinto’s Ranger Uranium Mine, as the senior geoscientist for Cameco Australasia and more just recently as the lead geologist and technical supervisor for Toro Energy Ltd, an ASX-listed uranium advancement business in Australia where he is the expedition and technical lead accountable for increasing the practicality of the business’s uranium and mineral resources, establishing and directing the business’s uranium and non-uranium expedition technique, helping the business technically through EPA approval for a uranium, and assisting the engineering and metallurgical through to scoping level financial evaluation.
Shirtliff has actually had current expedition success at Toro Energy, finding several zones of enormous nickel sulphide mineralization along the Dusty Komatiite, perhaps the very first enormous nickel sulphide mineralization found in the Yandal Greenstone Belt in Western Australia.
Shirtliff holds directorships on independently owned consultancy and prospecting business.
Shirtliff is an enduring member of the Australian Institute of Mining and Metallurgy and the globally acknowledged Society of Economic Geologists.