Redstone Resources Ltd (ASX: RDS) is a Perth-based company focused on highly prospective copper exploration properties in the West Musgrave region of Western Australia.
Redstone’s 100% owned Tollu Project is located in the south-east portion of the West Musgrave region of Western Australia (Figures 1 and 2). The Tollu Project consists of a large swarm of hydrothermal copper rich quartz veins in a mineralised system covering an area at least 5km2. Malachite-rich gossans associated with quartz veins are exposed at surface and form part of a dilatational system between two major structures within the Tollu Fault Zone.
Redstone’s most recent drilling campaign resulted in the delineation of its maiden Mineral Resource for the Tollu Project estimated to 3.8Mt @ 1.0% copper, which equates to 38,000 tonnes of contained copper, including 8,000 tonnes of Cu oxide resource and 0.01% of cobalt, which equates to 535 tonnes of contained cobalt. This is in addition to an increased Conceptual Exploration Target for the Tollu Project of 31 to 47 million tonnes of mineralisation at a conceptual grade range of 0.8 – 1.3% Cu, containing 259,000 to 626,000 tonnes of copper.
The potential quantity and grade of the Target is conceptual in nature. It is important to note that there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Given Tollu drilling to date is constrained to less than 2% of the tenement area the upside to the Mineral Resource estimate with further drilling remains unlimited.