Red Metal Limited · ASX:RDM
Red Metal — Sybella Discovery Sydney Resources Round-Up (May 2024)
20 slides from Red Metal's conference presentation, May 8, 2024
Slide 1: New Sybella REO Discovery, Mount Isa Region
For personal use only ASX:RDM New Sybella REO Discovery Mount Isa Region Breakthrough Metallurgical Results Favours Low-CAPEX, Low-COST Heap Leach Processing Booth 76 May 2024
Slide 2: Corporate Snapshot
Sybella Discovery Corporate Snapshot ASX Code Shares on Issue Share Price Market Cap Cash (at 31 Mar 2024) For personal use only RDM 299,367,579 16 $46M $3.0M Board Of Directors & Senior Management Share Price & Trade Volume: 01/06/2022 − 09/02/2024 Rob Rutherford Managing Director 0.25 Volume Close
Slide 3: Near-Term News Flow
2024 Near-Term News Flow – Booth 76 For personal use only Project Q2 Q3 Q4 Comments Sybella New REO Optimised Leach Tests Drill Results Resource Mount Isa QLD Discovery Step-out Drilling Initiated Column Leach Trials Definition ~150 hole,10,000m Impurity Removal Trials Yarrie Copper-Gold Drilling In
Slide 4: A 'World First' in Northwest Queensland
Sybella Discovery A ‘World First’ in Northwest Queensland For personal use only New REO deposit style • Just 20 kilometres southwest of Mount Isa with excellent infrastructure options 4
Slide 5: Project Comparison: Two General REO Project Types Emerging
Sybella Discovery Project Comparison For personal use only Two General REO Project Types Emerging Complex Simple High Temperature Low Temperature Leachable • Monazite/Apatite Carbonatites • Clay-Hosted Ionic • Monazite Heavy Mineral Sands • Clay-Hosted Non-Ionic • Granite-Hosted “Sybella Discovery”
Slide 6: A 'World First' in Northwest Queensland: REO-enriched granite
Sybella Discovery A ‘World First’ in Northwest Queensland For personal use only New REO deposit style • Hosted in REO-enriched granite • 12km long x 3km wide • Bulk of REE’s in soluble 12km fluoro-carbonate minerals • Soluble ore mineral in low acid consuming granite rock “ Metallurgical Nirvana ” 6
Slide 7: A 'World First' in Northwest Queensland: Proof-of-concept drilling
Sybella Discovery A ‘World First’ in Northwest Queensland For personal use only New REO deposit style • Proof-of-concept RC drilling reveals two higher grade REO zones, each about 1km wide 7
Slide 8: A 'World First' in Northwest Queensland: Zones open
Sybella Discovery A ‘World First’ in Northwest Queensland For personal use only New REO deposit style • Zones open north and south and at depth offering vast tonnage potential 8
Slide 9: A 'World First' in Northwest Queensland: Granite weathering
Sybella Discovery A ‘World First’ in Northwest Queensland For personal use only Oxidised Granite Transitional - Part Oxidised & Part Fresh Granite Fresh Granite 9
Slide 10: A 'World First' in Northwest Queensland: Soft rock to 20m
Sybella Discovery A ‘World First’ in Northwest Queensland Boundary Fence East (1000m wide) For personal use only New REO deposit style • Softer weathered granite in top 20m adds mining, comminution and processing advantages Soft Rock to 20m Seismic Refraction Profiles showing interpreted P-wave velo
Slide 11: Breakthrough Phase Metallurgical Leach Tests
Sybella Discovery Breakthrough Phase 1 Metallurgical Leach Tests For personal use only Successful proof-of- Boundary Fence East concept test work 78% 79% • Strong REO extraction Max 90% Max 90% with low levels of impurities 48% Max 64% 44% Max 60% • Using low levels of 37kg/t Min 22kg/t sulphuric ac
Slide 12: Breakthrough Phase Metallurgical Leach Tests: Impurities
Sybella Discovery Breakthrough Phase 1 Metallurgical Leach Tests For personal use only Successful proof-of- Boundary Fence East concept test work 78% 79% • Low average impurity Max 90% Max 90% extractions of aluminium and iron 48% Max 64% 44% Max 60% • Low average deleterious 37kg/t Min 22kg/t eleme
Slide 13: Breakthrough Phase Metallurgical Leach Tests: Importantly!
Sybella Discovery Breakthrough Phase 1 Metallurgical Leach Tests For personal use only Importantly! Boundary Fence East Increasing REO • Results point to simple Extraction (Revenue) processing options potentially involving heap leach methods • Data show significant opportunities to increase revenue
Slide 14: Breakthrough Phase Metallurgical Leach Tests: Importantly!
Sybella Discovery Breakthrough Phase 1 Metallurgical Leach Tests For personal use only Increasing REO Importantly! Boundary Fence East Extraction (Revenue) 2. Increasing leach residence time 3. Optimising the leach pH Decreasing Acid Comption (Processing Costs) “Sybella showing the processing benefi
Slide 15: Low Temperature Leachable Projects
Sybella Discovery Low Temperature Leachable Projects For personal use only Extracted ASX Location Project Leach Average Grade (g/t) Extraction (%) Extracted RE (g/t ore) Nd₂O₃ Code Equivalent Proposed pH TREO Pr₆O₁₁ Nd₂O₃ Tb₄O₇ Dy₂O₃ TREO Pr Nd Tb Dy Pr₆O₁₁ Nd₂O₃ Tb₄O₇ Dy₂O₃ g/t¹ Process² RDM Sybell
Slide 16: Accelerated Exploration Programs
Sybella Discovery Accelerated Exploration Programs For personal use only Phase 2 Metallurgical Test Work in Progress • Optimised intermittent bottle-roll leach tests on core and RC chips • At a range of pH set points (pH 1.3, 1.7, 2.0, 3) • On coarsely jaw crushed size fractions (10mm,15mm) • Over i
Slide 17: Near-Term News Flow
2024 Near-Term News Flow – Booth 76 For personal use only Project Q2 Q3 Q4 Comments Sybella New REO Optimised Leach Tests Drill Results Resource Mount Isa QLD Discovery Step-out Drilling Initiated Column Leach Trials Definition ~150 hole,10,000m Impurity Removal Trials Yarrie Copper-Gold Drilling In
Slide 18: Disclaimer (1/2)
Disclaimer (1/2) For personal use only This Presentation was Authorised by the Board of Red Metal. Caution Regarding Forward-Looking Statements. This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘potential for’, ‘scope for’, ‘opportunity for’
Slide 19: Disclaimer (2/2)
Disclaimer (2/2) For personal use only The Company has no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Presen
Slide 20: Red Metal Limited
For personal use only Red Metal Limited Rob Rutherford – Managing Director Level 15, 323 Castlereagh Street Sydney 2000 Ph: +61 (0)2 9281 1805 | Mobile: +61 (0) 429 651 126 admin@redmetal.com.au | www.redmetal.com.au 20
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