Redstone (ASX:RDS) upgrade Musgrave metal

Redstone Resources have nailed down the source of nickle, with its West Musgrave project excitingly lining up with the ultra mafic-ultramafic host of BHP’s world class Nebo Babel deposit just 40 kilometres away in Western Australia.

The company has been targeting intrusions with the norite affinity outside its established Tollu copper deposit, and discovery of mafic-ultramafic intrusions which serve as the host rocks for topflight nickel, copper, cobalt and platinum group deposits significantly upgrades the project’s prospectivity.

Geochemistry suggests highly desirable gabbro‐norite, and work will now begin to confirm the classification, and whether any of the nickel is in a sulphide phase as drilling continues.

It comes only two days after assays from the campaign extended the high-grade zone at West Musgrave, including a 1m @ 18.5% copper strike which stands as a new project record as the Redstone look to build on a 3.8 million tonnes at 1% copper resource.

While not trading at the record hights struck last year, industry figures have continued to bang the drum on impending shortfalls of nickel and copper, no more so than neighbouring BHP, who continue to put a target on the commodities while leaving the lithium sector largely untouched.

More assays are pending from Redstone’s latest campaign and further research, analysis, and exploration will be undertaken as it moves on adding a hefty nickel complement to its assets.

RDS.AX

REDSTONE FPO [RDS]

ASX

$0.006

$0.003

100.00%

REDSTONE FPO [RDS]

Sector: Basic Materials

Industry: Copper

Employees:

Redstone Resources Limited engages in exploration of mineral properties in Australia and Canada. It explores for copper and nickel deposits, as well as platinum group elements. Its flagship project is the 100% owned West Musgrave Project located in the southeast portion of the West Musgrave region, Western Australia. The company was incorporated in 1999 and is based in West Perth, Australia.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.