- Redstone Resources (RDS) confirms copper mineralisation at the Forio prospect within its Tollu copper vein deposit in WA
- The company received results from three holes drilled late last year, with one confirming thicker-than-expected mineralisation of 34 metres at 1.07 per cent copper from 15 metres
- Another drill hole intersected near-surface copper mineralisation, with 10 metres at 0.31 per cent copper struck from just one metre downhole
- Redstone says this highlights the potential for significant oxide copper mineralisation within metres of the surface at Forio, and further assays from last year’s drilling are expected shortly
- Redstone Resources shares are up 25 per cent to one cent per share at 11:18 am AEST
Redstone Resources (RDS) has confirmed copper mineralisation at the Forio prospect within its Tollu copper vein deposit in Western Australia.
The news comes on the back of geochemical assays from reverse circulation (RC) drilling undertaken at the end of last year.
In November, Redstone drilled three RC holes — TLC180, TLC181 and TLC182 — at the Forio prospect, part of the Tollu copper vein deposit within the company’s broader West Musgrave project.
The drilling aimed to test short-scale extensions and help the company gain a better understanding of the known vein-hosted copper mineralisation.
The newly received geochemical assays have confirmed that TLC181 extended the shallow, high-grade copper mineralisation previously intersected in the central Forio copper vein system for 12 metres to the north.
The mineralisation in the RC hole was also thicker than the previously-reported handheld portable XRF analysis suggested. Assays from TLC181 showed a single 34-metre interval grading 1.07 per cent copper from a 15-metre downhole depth, including one metre at 3.26 per cent copper from 19 metres.
RC hole TLC182 was designed to test for further oxide copper mineralisation near the surface at Forio and on a different vein set to where oxide copper was intersected in 2019.
Geochemical assays confirmed TLC182 intersected near surface copper mineralisation, with 10 metres at 0.31 per cent copper struck from just one metre downhole. The company said this hole highlighted potential significant oxide copper mineralisation within metres of the surface at Forio.
Redstone said it expected to announce additional assays from the late 2021 drilling program shortly.
Redstone Resources shares were up 25 per cent to one cent per share at 11:18 am AEST.