Redstone Resources (ASX: RDS) spent the December quarter primarily focused on the assessment of remaining geochemistry results from drilling at the Tollu deposit within its West Musgrave project in Westerm Australia.
One of the drill holes identified multiple lenses of copper mineralisation, including two significant high-grade intersections of 1.8 metres at 2.5% copper from 912.4m and 4m at 1.3% copper from 1048m including 1.6m at 2.7% from 1,048.4m.
The hits were ++more than 400m deeper++ than earlier assays and 130m further to the south in isolation of any previous mineralisation reported by the company, including a 2012 assay of 0.7m at 1.68% from 470.2m.
The entire length of the hole encountered broken rock from brecciation and shearing that was oriented approximately parallel to the drilling, suggesting the structures that host the Tollu copper veins continue deeper than 800m from surface.
Deep Mineralising System
Drilling at Tollu showed the mineralising system runs deep into an underlying gabbroic intrusion suggesting this might be the ultimate source of the copper sulphides present.
Significantly, the geochemistry indicated that cobalt is likely in sulphide form even at lower grades, with a bias towards an underlying gabbro which may be potential evidence for a magmatic sulphide source.
Redstone believes the mineralised source is a potential Voisey’s Bay style nickel-copper-cobalt deposit, similar to BHP Group’s (ASX: BHP) world-class Nebo-Babel deposit located 60 kilometres to the west.
Planned Drilling Campaign
During the quarter, Redstone commenced planning for a reverse circulation drilling program in the first half of this year, co-funded by a $180,000 grant under the WA government’s exploration incentive scheme, with a separate deep diamond drilling program to be co-funded by a Round 31 EIS grant of up to $220,000.
Targets will include a number of magnetic anomalies to the north-east of Tollu that have already been subject to limited drilling and shown to be the right rocks for hosting magmatic copper or copper-nickel-cobalt-platinum group element deposits.
The campaign will incorporate a large magnetic body of rock shown in an airborne survey to be directly east of Tollu, spanning 6.4km east-northeast to the Hiding Maggie East prospect.
Redstone will also continue to examine the geology and mineralisation of the latest drill core to establish any implications for its ongoing exploration strategy.
The company also raised $650,000 during the period in a private placement to provide funding for its planned work programs at West Musgrave.
