Redstone Resources - Final Strong Cu Assay Results Confirm Potential at Tollu
Redstone Resources (ASX:RDS) has announced further positive copper results from the Tollu Project. The results confirm shallow oxide/transitional copper mineralisation potentially amenable to evaluation of a low cost development path as part of a broader development strategy. Included in the results was a new zone called Forio, which is defined over 25om and open in all directions.
Redstone Resources Limited (ASX: RDS) (“Redstone” or “the Company”) is pleased to announce the last of the outstanding copper intercepts from the Company’s recently completed drilling program and also from further analysis of historical samples from previous drill programs at its 100% owned Tollu Project (“the Project”), which has achieved a number of the planned key objectives.
- Confirmation of shallow oxide/transitional copper miner lisation potentially amenable to evaluation of a low cost development path as part of the broader development strategy of the larger and higher grade sul hide prospects
- Identification of the Forio prospect over 250m of mineralised strike which remains open in all directions
- Confirmation of up dip co Prospects tinuity of the sulphide mineralisation at Chatsworth and Eastern Reef
- Identification of copper mineralisation in re‐assay of historic pr spects Kilruddery and Hertsecombe
Subsequent to the Company’s 11 January 2016 and 22 February 2016 announcements, further results from the most recently completed drilling program have now been received. These results, which include copper grades of up to 4.02%, are consistent with work previously conducted on the Project area. These results were primarily from the Chatsworth, Main Reef and Eastern Reef Prospects.
Significant copper intercepts from the recent assaying of samples from both the most recent and historical drill programs, primarily from the Chatsworth, Eastern Reef and Forio Prospects include:
- 31m at 1.18% Cu from 20m including 6m at 2.98% Cu from 25m (TLC090)
- 4m at 1.22% Cu from 13m (TLC091)
- 12m at 1.45% Cu from 178m including 4m at 2.16% Cu from 18
- 7m at 1.05% Cu from 6m (TLC090)
- 1m at 1.33% Cu from 96m (TLC020)
Eastern Reef Prospect
- 8m at 0.81% Cu from 299m including 2m at 2.19% Cu from 304m (TLC053)
- 4m at 1.23% Cu from 70m (TLC097)
- 2m at 0.96% Cu from 247m (TLC059)
Main Reef Prospect
- 3m at 1.15% Cu from 142m (TLC099)
- 2m at 3.11% Cu from 96m (TLC009)
- 8m at 0.98% Cu from 151m including 3m at 1.41% Cu from 152m (TLC067)
- 5m at 1.10% Cu from 134m (TLC011)
- 1m at 1.25% Cu from 66m, 1m at 1.43% Cu from 83m and 1m a
- 2m at 1.00% Cu from 217m (TLC064) 4.2 Cu from 92m (TLC084)
- 3m at 1.79% Cu from 140m (TLC069)
Commenting on the continued excellent results, Redstone’s Chairman, Richard Homsany stated:
“These additional strong results continue to increase confidence in the Tollu Project. Drilling activities have focussed on the known prospects with the exception of Forio. The Project’s potential copper endowment is not onstrained. The board has enhanced confidence that additional drilling can lead to further ore grade copper discoveries, both oxide and sulphide.
The success of the shallow drilling at the previously undri led prospects, especially at Forio, highlights the underlying potential for the identification of further mineralisation in other narrow veins for near surface copper mineralisation. With only limited drilling, the Forio Prospect shows significantly longer strike length than both the Chatsworth and Eastern Reef Prospects.
The mineralisation at Forio is very significant in that it is located in a dilational zone to the north west of the Tollu Fault, wh ch is in a different location to the previously discovered mineralisation. Its current strike length, which remains open to the south, is to be effectively drilled out below 50m. Recent results demonstrate some of the widest and strongest copper mineralisation discovered at these levels at the Project to date.
These results allow the Company to commence preliminary investigation of the economic viability of the high grade near surface copper mineralisation at Tollu. Such an operation, if studies prove it to be viable, may present short term development options generating early cash flow with significantly lower up front capital expenditure.”