Red Metal has resumed drilling at its Maronan silver-lead project in northwest Queensland to test the continuity of the high grade silver lead mineralisation in the Lower and Upper banded iron formation horizons.

The current two hole, 1000 metre, drill core program will also test for shallow mineralization that has the potential to be extracted by open pit mining.

Silver and lead mineralization at Maronan occurs within two parallel banded iron formations and is of a similar style to the nearby Cannington deposit, one of the largest silver and lead producing operations in the world.

A new geological model for the Maronan deposit predicts a plunge to the mineralization that differs from earlier interpretations and has opened up the potential to define significant resources.

Previously reported best intercepts include 14.5 metres at 11.1% lead and 133 grams per tonne silver from 501 metres in the Upper banded iron formation, and 21 metres at 5.1% lead and 126 grams per tonne silver from 479 metres in the Lower banded iron formation.
Red Metal has been awarded AUD 150,000 under the Queensland Government Greenfields 2020 Collaborative Drilling Initiative to assist with drill testing.

Current drilling is expected to be completed in about two weeks with assay results to follow in February.

(Sourced from Proactive Investors)