Red Metal (RDM)

Shares / Stock Code

RDM

Stock Exchange / Sharemarket

Australian Securities Exchange

Red Metal (RDM) is an exploration company focussed on the discovery and development of copper or copper-gold deposits in Australia. The company gains additional exploration funds and added technical support through its Strategic Alliance with Phelps Dodge Corporation, the world's largest publicly traded copper producer. The company listed on the Australian stock market (ASX) on 27 October, 2003.

Red Metal Limited has secured an interest in a portfolio of highly prospective exploration properties in Australia through Strategic Alliance and Sale Agreements with Phelps Dodge Australasia, Inc., a subsidiary of Phelps Dodge Corporation, the world's largest publicly traded copper producer.

RDM's major customers would include the retail, wholesale and international markets. Its competitors consist of other gold mining companies such as Prosperity Resources Limited (PSP). The mining industry is a global industry, which is highly competitive.

Corkwood Projects

The Corkwood project comprises a group of tenements located 110 kilometres north-west of the Ernest Henry copper mine. A number of structurally controlled magnetic anomalies surround an interpreted magmatic centre. Drilling on the Jimmy Creek prospect in early 2008 intersected a broad zone of hydrothermal breccia in felsic volcanic rock containing visible low-grade copper mineralisation interspersed with narrow intervals of moderate to high grade copper mineralisation. Best assays results included 86 metres from 401 metres at 0.22 percent copper including 12 metres from 401 metres at 0.7 percent copper, 0.26g/t gold. The strong brecciation and potential for high grade styles of copper mineralisation has encouraged further exploration over the project area.

Elizabeth Springs Project

In mid-2008 four diamond core holes were completed on the regionally significant Elizabeth Springs magnetic/gravity targets. These magnetic targets are some of the largest amplitude magnetic anomalies in the Mount Isa Inlier. Three of the four holes intersected broad zones of intense pyrite alteration with associated weak copper mineralisation which is typical of an alteration halo surrounding a mineralised iron-oxide copper system.

Red Metal (RDM) Products and Services

  • Copper and gold explorer.

Red Metal (RDM) Locations and Subsidiaries

Red Metal Head Office
Level 15, 323 Castlereagh Street,
SYDNEY, NSW, AUSTRALIA, 2000
Phone: (02) 9281 1805
Fax: (02) 9281 5747

Red Metal (RDM) Share Price

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Submitted by ASX Listed Company on 26 May, 2010 - 21:26

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