Red Metal Limited · ASX:RDM
Red Metal — Conference Presentation (November 2024)
21 slides from Red Metal's conference presentation, Nov 14, 2024
Slide 1: Sybella REO Discovery: An Emerging Giant Heap Leach Play
For personal use only ASX:RDM Sybella REO Discovery An Emerging Giant Heap Leach Play Mount Isa Region 14 NOVEMBER 2024
Slide 2: Corporate Snapshot
Sybella Discovery Corporate Snapshot For personal use only ASX Code Board Of Directors & Senior Management Share Price & Trade Volume: 7/11/2022 − 7/11/2024 RDM Rob Rutherford Managing Director Russell Barwick Chairman (non exec) Shares on Issue Joshua Pitt Director (non exec) 359,656,578 Patrick Fl
Slide 3: Near-Term News Flow
2025 Near-Term News Flow For personal use only Project Q1 25 Q2 25 Q3 25 Comments Sybella New REO Ongoing met test work Additional infill Mining study Mount Isa QLD Discovery Mining study initiated drilling results Infill drilling assays Indicated Resource Gulf Copper-Gold Drilling Ernest Henry type
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
Sybella Discovery Project Comparison For personal use only Globally 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 Di
Slide 6: A 'World First' in Northwest Queensland: New REO Deposit Style
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 • Amenable to heap leach pr
Slide 7: Host Rock
Sybella Discovery Host Rock For personal use only Weathered Granite Base Lower Saprolite Metallurgical Boundary Transitional - Part Weathered & Part Fresh Granite Fresh Granite 7
Slide 8: Step-Out Drilling Recently Completed
Sybella Discovery Step-Out Drilling Recently Completed Regular Coverage For personal use only Templeton Zone • 8.4km x 3km area of the granite • 800m x 200m and 800m x 400m hole spacing • Set depth 60m holes, some locally drilled deeper to 120m and 240m 4km Kary Zone • Designed to outline the tonnag
Slide 9: Step-Out Drilling Results
Sybella Discovery Step-Out Drilling Results For personal use only Confirms Vast Tonnage Potential • NdPr > 300pm - two separate zones • Kary Zone (East) Templeton Zone Kary Zone - 4.8km long, up to 1.5km wide • Templeton Zone (West) - 7.2 km long, 400m-1.6km wide Potential For Higher-Grade Zones Tem
Slide 10: Mineral Resource Estimate: Confirms Giant Status
Sybella Discovery Mineral Resource Estimate For personal use only Confirms Giant Status • Block model 100m x 200m x 6m • 8.4km long x 2.7km wide Potential For Higher-Grade Zones Templeton Zone Kary Zone Templeton Zone Kary Zone 100m 4km 1km 7,691,200N Vertical Scale = 4x Horizontal Scale 10
Slide 11: Mineral Resource Estimate: Confirms Giant Status
Sybella Discovery Mineral Resource Estimate For personal use only Confirms Giant Status Sybella Total Global Inferred Mineral Resource • 4.795 Bt at 302 ppm NdPr, 28 ppm DyTb Potential For (200 ppm NdPr cut-off grade) Higher-Grade Zones • 2.558 Bt at 331 ppm NdPr, 31 ppm DyTb (300 ppm NdPr cut-off g
Slide 12: Mineral Resource Estimate: Weathered Granite
Sybella Discovery Mineral Resource Estimate Weathered Granite For personal use only Sybella Inferred Mineral Resource By Ore Types • 788 Mt at 297 ppm NdPr, 28 ppm DyTb (200 ppm NdPr cut-off grade) Potential For Higher-Grade Zones • 384 Mt at 330 ppm NdPr, 30 ppm DyTb (300 ppm NdPr cut-off grade) •
Slide 13: Two Heap Leach Options Emerging
Sybella Discovery Two Heap Leach Options Emerging Weathered Granite Fresh Granite For personal use only • Sulphuric acid pH 1.3-2 • Sulphuric acid pH 2-3.0 • ~70-90% REO extraction • Testing higher pH and increased • Manageable Fe and Al extraction residence times to lower Fe and Al extraction • Sof
Slide 14: Maiden Mix Rare Earth Carbonate (MREC)
Sybella Discovery Maiden Mix Rare Earth Carbonate (MREC) For personal use only Innovative Impurity Removal • pH1.3 -1.7 leachate from weathered granite (high in Fe and Al) • 48.7% TREO • 39.5% of TREO as magnetic MREC Product minerals (Nd, Pr, Dy, Tb) • Potential for premium product • DyTb 21% MREO
Slide 15: Weathered or Fresh Granite Easy to Crush
Sybella Discovery Weathered or Fresh Granite Easy to Crush For personal use only Comminution SMC Tests • -10mm crushed rock is “Very Soft” when weathered and “Soft” when fresh • Suitable for simple low energy crushing circuit Boundary Fence East (1000m wide) involving gyratory, jaw and/or cone crush
Slide 16: Heap Leach Examples - Tier Copper
Sybella Discovery Heap Leach Examples - Tier 1 Copper Freeport-McMoRan Morenci BHP Escondida For personal use only Sybella Aspiration Parameter Crushed Heap Leach Oxide Heap Leach • Heap leach Value Ref. Value Ref. Throughput (mtpa) 26 1 20 4 • 10-30Mtpa throughput Head grade (wt% Cu) 0.36 2 0.55 5
Slide 17: Accelerated Exploration Programs
Sybella Discovery Accelerated Exploration Programs For personal use only Localised Indicated Resource Drilling • Initiated infill drilling on Kary Zone (Q4 2024) • Addition infill drilling (Q2 2025) Metallurgical Test Work - Weathered Granite • Bottle roll optimisation (Initiate Q4 2024) • Bottle ro
Slide 18: Accelerated Exploration Programs
Sybella Discovery Accelerated Exploration Programs For personal use only Localised Indicated Resource Drilling • Initiated infill drilling on Kary Zone (Q4 2024) • Addition infill drilling (Q2 2025) Templeton Zone Metallurgical Test Work - Weathered Granite • Bottle roll optimisation (Initiate Q4 20
Slide 19: 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 20: Disclaimer (2/2)
Disclaimer (2/2) For personal use only Competent Persons Statement The information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Robert Rutherford, who is a member of the Australian Institute of Geoscienti
Slide 21: 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 21