Red Metal Limited · ASX:RDM
Red Metal — Investor Presentation (September 2023)
34 slides from Red Metal's investor presentation, September 2023
Slide 1: Key Projects FY24
ASX:RDM Key Projects FY24 September 2023
Slide 2: Disclaimer
Disclaimer 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’, ‘believes’, ‘expects’, or ‘intends’ and other
Slide 3: Near Term Activity
Near Term Activity Cu Au Li REO Project Location Target Near-Term Activity Sybella REO Mount Isa NW QLD New Discovery Metallurgical test work on RC New REO Discovery Giant soluble NdPr at surface Drill met holes Q4 2023? Step-out drill traverses Q1-Q2 2024 Gidyea Cu-Au Mount Isa NW QLD Standout magn
Slide 4: Sybella REO Discovery
ASX:RDM Sybella REO Discovery September 2023
Slide 5: Sybella REO's: A World First
Sybella REO’s “A World First” New REO deposit style in Northwest Queensland • Proof-of-concept drilling and preliminary metallurgical tests outline potential for a new weak-acid soluble, rare earth oxide (REO) deposit type hosted in granite • Offering scope for extraction using bulk mining and simpl
Slide 6: Sybella REO's Vast Tonnage Potential
Sybella REO’s Vast Tonnage Potential • Proof-of-concept drilling by Red Metal highlights two separate REO mineralised zones each about 1000m wide • Open along strike north and south and at depth • Plus localised higher grades in breccia zones 10km Boundary Fence Traverse 6
Slide 7: Sybella REO's Vast Tonnage Potential
Sybella REO’s Vast Tonnage Potential • Proof-of-concept drilling by Red Metal highlights two separate REO mineralised zones each about 1000m wide • Open along strike north and south and at depth • Plus localised higher grades in breccia zones 4km Boundary Fence Traverse 7
Slide 8: Sybella REO's Vast Tonnage Potential
Sybella REO’s Vast Tonnage Potential Boundary Fence Traverse 0m Broken Granite Fresh Granite 120m > 300 ppm NdPr > 300 ppm NdPr Donkey Dam Traverse Breccia Broken Granite Zone Fresh Granite 8
Slide 9: Sybella REO's Grade Potential
Sybella REO’s Grade Potential TREO+Y Pr6O11 Nd2O3 Y2O3 Dy2O3 NdPr Hole ID From To Intercept ppm ppm ppm ppm ppm ppm SBRC018 6 120 (EOH) 114 1,723 74 262 179 32 336 SBRC017 0 120 (EOH) 120 1,710 74 261 168 30 335 SBRC016 0 120 (EOH) 120 1,724 76 264 164 29 340 SBRC015 0 120 (EOH) 120 1,962 75 261 147
Slide 10: Potentially Easily Dissolved REO Minerals
Sybella REO’s Potentially Easily Dissolved REO Minerals Positive proof-of-concept test by ANSTO • Soluble rare earth fluoro-carbonate mineralogy (bastnasite and synchysite) • High recoveries of “critical” REO’s neodymium and praseodymium (80-90%) in moderate acid leach solution (40kg/t sulphuric aci
Slide 11: Potentially Easily Dissolved REO Minerals: ANSTO Leach Results
Sybella REO’s Potentially Easily Dissolved REO Minerals Positive proof-of-concept test by ANSTO ANSTO Leach Results • Soluble rare earth fluoro-carbonate mineralogy 100 90 (bastnasite and synchysite) 80 • High recoveries of “critical” REO’s neodymium 70 and praseodymium (80-90%) in moderate acid % D
Slide 12: Sybella REO's Potential Mining Advantages
Sybella REO’s Potential Mining Advantages Scope for low cost open pit mining • Starts at surface, 1000m wide • Very low strip ratio Mount Isa Potential for simple low-cost processing • Bulk of REE’s in soluble fluoro-carbonate minerals • Favourable low-acid consuming granite host rock • Low uranium
Slide 13: Examples of Other Giant Granite-Hosted Deposit Types
Examples of Other Giant Granite-Hosted, Weak-Acid Soluble Deposit Types Copper as chalcocite in weathered granitic porphyry • Morenci Mine (USA) Uranium as uraninite in granite • Rossing Mine (Namibia) • Hsuab Mine (Namibia) • Typically 300-600ppm U3O8/100ppm COG REO’s as fluoro-carbonate in granite
Slide 14: Sybella REO's Future Work
Sybella REO’s Future Work Bench-scale metallurgical tests • Confirmatory leach tests on RC Chips • Grind sizes • Bond Work Index • Any mineralogical variation 4km Step-out drilling 8km • Bulk resource definition • Extent of higher grade breccia zones Assess alternative funding options • Critical met
Slide 15: Gidyea Copper-Gold Breccia
ASX:RDM Gidyea Copper-Gold Breccia September 2023
Slide 16: Gidyea Copper-Gold: Standout Magnetic Target
Gidyea Copper-Gold Standout Magnetic Target Gidyea GT19 • An Ernest Henry look-alike • Extension of fertile Cloncurry IOCG terrain under cover • Extension of Carpentaria Conductivity Anomaly • Interpreted volcanic host rocks and intrusive granites • Targets at mineable depths ranging 400-650m • 275K
Slide 17: Gidyea Copper-Gold: Ernest Henry Look-Alike
Gidyea Copper-Gold Ernest Henry Look-Alike Ernest Henry Mine A Standout Magnetic Target Gidyea Target GT19 A Standout Magnetic Target Ernest Henry Gidyea GT19 Gidyea Target GT19 On Trend From Ernest Henry Giant Ernest Henry Copper-Gold Mine Ernest Henry Project - 3D Oblique View of Total Magnetic Im
Slide 18: Gidyea Copper-Gold: Ernest Henry Look-Alike
Gidyea Copper-Gold Ernest Henry Look-Alike Ernest Henry MIne A Standout Magnetic Targets Gidyea Target GT19 A Standout Magnetic Target Ernest Henry Gidyea GT19 Gidyea Target GT19 On Trend From Ernest Henry Giant Ernest Henry Copper-Gold Mine Ernest Henry Project - 3D Oblique View of Total Magnetic I
Slide 19: Gidyea Copper-Gold: Same Crustal-Scale Setting as Ernest Henry
Gidyea Copper-Gold Same Crustal-Scale Setting as Ernest Henry Connors, K., Simpson, J. and Brown, D. 2021. Deciphering the building blocks of the eastern North Australia Craton. Australasian Exploration Geosciences Conference. Brisbane, September 15-20, 2021. Extended Abstract and Oral Presentation.
Slide 20: Pardoo Hemi-Gold and Lithium
ASX:RDM Pardoo Hemi-Gold and Lithium September 2023
Slide 21: Pardoo: Hemi-style Gold & Lithium Potential
Pardoo Hemi-style Gold & Lithium Potential Covered Extension of Pilbara Greenstone Pardoo Magnetic/Soil Targets Hemi-Gold Look-alikes • Regional magnetic imagery and mapping defines extension to structural Hemi structural corridor. • Discrete bullseye magnetic targets in structural corridor suggest
Slide 22: Hemi Bullseye Magnetic Targets
Hemi Bullseye Magnetic Targets Hemi Pardoo Mostly non-magnetic but some discrete magnetic bullseye targets indicative of intrusions or alteration? Pardoo Tagets Hemi-style Bulls-eye Magnetic Targets As-Sb-Sn Soil anomalism 2km Hemi - Vertical Derivative Magnetic Imagery (from DeGrey Nov 2021) Pardoo
Slide 23: Pardoo Gold and Lithium: Bullseye Magnetic Targets
Pardoo Gold and Lithium Bullseye Magnetic Targets – Anomalous Soils 23 Pardoo Satellite Image and Ultra-fine Fraction Soil Geochemistry
Slide 24: Pardoo Gold and Lithium: Bullseye Magnetic Targets
Pardoo Gold and Lithium Bullseye Magnetic Targets – Anomalous Soils 24 Pardoo TMI Image and Ultra-fine Fraction Soil Geochemistry
Slide 25: Pardoo Gold and Lithium: Bullseye Magnetic Targets
Pardoo Gold and Lithium Bullseye Magnetic Targets – Anomalous Soils 25 Pardoo TMI Image and Ultra-fine Fraction Soil Geochemistry
Slide 26: Yarrie Copper-Gold
ASX:RDM Yarrie Copper-Gold September 2023
Slide 27: Yarrie – Funded by BHP
Yarrie – Funded by BHP Intrusion-Related Au-Cu Proven Terrian • Giant Intrusion-Related gold-copper at Telfer and Minyari Yarrie Project Geophysical Analogues of • New gold-copper discoveries at Haverion, Winu, Ngapakarra Winu and Havieron (weak regional magnetic bulls-eye targets) • Nifty (>176Mt @
Slide 28: Yarrie – Funded by BHP
Yarrie – Funded by BHP Intrusion-Related Au-Cu Yarrie Project Airborne Gravity Data Links Red Metal Targets with Winu Yarrie Project Along High Gravity Ridge Geophysical Analogues of Winu and Havieron 28 1VD Magnetic Imagery Falcon Gravity Vertical Gradient Imagery
Slide 29: Yarrie – Funded by BHP
Yarrie – Funded by BHP Intrusion-Related Au-Cu 11km Yarrie • First pass targets identified • Heritage cleared August 2023 Blue Resistivity High • Drilling planned Q2 2024 Silica Alteration? YE3 YE3 Magnetic Analogues YE1 YE4 YE1 YE4 Of Winu and Havieron YE2 YE2 1VD Magnetic DconImagery db z 350m TMI
Slide 30: Nullarbor Copper-Nickel Niobium-REE
ASX:RDM Nullarbor Copper-Nickel Niobium-REE September 2023
Slide 31: Nullarbor Copper and Nickel: Standout Magnet/Gravity Anomaly
Nullarbor Copper and Nickel Standout Magnet/Gravity Anomaly Forrest T4 Target • Frontier Coompana Province • Standout gravity/magnetic anomaly • Scope for mafic/ultramafic intrusion-hosted copper-nickel • Potential for niobium-REE carbonatite perhaps similar to WA1 Resources Luni discovery in the re
Slide 32: Nullarbor Copper and Nickel: Forrest T4 Target
Nullarbor Copper and Nickel Standout Magnet/Gravity Anomaly Forrest T4 Target • Basement depth <300m • Discrete late time conductor anomaly (800 siemens) over 3 lines along the margin to the strong gravity (4mgal) and magnetic anomaly • Gravity modelling suggests high density source (~SG 3.6) • Heri
Slide 33: Near Term Activity
Near Term Activity Cu Au Li REO Project Location Target Near-Term Activity Sybella REO Mount Isa NW QLD New Discovery Metallurgical test work on RC New REO Discovery Giant soluble NdPr at surface Drill met holes Q4 2023? Step-out drill traverses Q1-Q2 2024 Gidyea Cu-Au Mount Isa NW QLD Standout magn
Slide 34: Rob Rutherford – Managing Director
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