Red Metal — Corporate Update (May 2004)

6 slides from Red Metal's corporate update, May 2004

Slide 1: Moonta Wallaroo Joint Venture Progress
Moonta Wallaroo Joint Venture Progress • PDA have assigned operational responsibility to Red Metal Limited • JV expenditure to date is $1.17 million • 2002 - 2003 programs of geophysics and geochemistry defined 12 target areas for drilling • Program of 1425m of RC in March Quarter tested 6 targets •
Slide 2: Magnetic Image with Targets MWJV
Magnetic Image with Targets MWJV Copper-Gold 5 Kilometres target area 81 19 Wallaroo TMI Image Kadina 78 Paskeville Port Moonta Moonta Cunliffe Melton EL 2885 May 2004
Slide 3: Target 81 West MWJV
Target 81 West MWJV 3 / 0.1 3 / 0.4 2 / 0.1 7 / 0.4 2 / 2.1 4 / 0.3 3 / 0.3 20 / 0.4 Supergene Cu Blanket Primary Target Zone 100 M Diamond drilling Aircore drilling Proposed (250m) Diamond Drillhole 2 / 2.1 2m @ 2.1% Cu May 2004
Slide 4: Target 19 MWJV
Target 19 MWJV 23 / 0.8 45 / 0.16 Saprolite 36 / 0.3 Metasediment 12 / 0.2 Gravity Corridor Proposed (300m) (Primary Target) Diamond Drillhole RC drilling RAB drilling 50 M 23 / 0.8 23m @ 0.8% Cu May 2004
Slide 5: Target 78 MWJV
Target 78 MWJV Calcrete Anomaly 25ppb Cu 50ppb Cu Copper Hill Workings RAB Hole RAB Hole (Anom. Cu) 500 M May 2004
Slide 6: Target 81
Target 81 Calcrete Soils - Au ppb Siliceous ironstone Alteration Zone (carbonate- Quartzite chlorite- Foliated and silica) granite Metasediments 2.5m @ 0.5%Cu Hole ends in siliceous shale - pyrrhotite rich. Not assayed for gold. 100 M Diamond drilling Auger drilling May 2004