EPM26943 YELLOW CREEK FINAL REPORT FOR PERIOD ENDING 03 MARCH 2023

URL: https://geoscience.data.qld.gov.au/dataset/cr150926

Red Metal Limited was the owner and operator of EPM 26943, Yellow Creek, located north of the Three Ways Intersection 200 km north of Cloncurry. The tenement formed a part of Red Metals Three Ways project. The tenement was acquired to cover a sub – basin with no previous drill history located some 130 kilometres along trend from the recently commissioned Dugald River zinc-lead-silver mine. This report summarises all previous exploration and details work carried out within EPM 26943 during the period March 4, 2022 to March 3, 2023 this is the fourth Annual and Final Report in respect of this tenement. Work by Red Metal during the tenure of EPM 26943 comprised: ground gravity survey, 239 stations; magnetotelluric (MT) survey, 91 stations; ground MLEM Survey, 3.5 line km; drilling, one hole TWD2104 (878.7 m).
A coincident EM and MT anomaly was tested with drill hole TWD2104 in 2022. The hole intersected graphite and pyrrhotite bearing carbonaceous pelitic rocks that appear to explain the EM anomaly. During the current term all data was reviewed and it was decided to relinquish the tenement. Work program for Year 3 comprised drilling of two holes. This did not eventuate.