Redstone Resources Limited announced that it has commenced the second phase of reverse circulation (RC) drilling (the `Programme') on the Company's 100% owned West Musgrave Project (the `Project'). The second phase followson from the first phase completed in late 2021 and will consist of approximately 5,000m of drilling (including deep drilling at 300m+ depths). The Programme includes drilling the EM5 Target and two other EM5 `looka like' magnetic anomalies, as well as at the Tollu copper veins and surrounding prospective Target Areas.

The drilling will target copper mineralisation but also test for rock types that have the potential to host nickel cobalt copper mineralisation. Further evaluation of the Tollu Copper Project, surrounding Target Areas and the broader West Musgrave Project, has the potential to add to the Company's Tollu copper resource of 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper1. Target EM5, is an EM target coincident with a large circular magnetic anomaly located 7.2km northeast of the Tollu copper vein deposit (Tollu).

Previous drilling at the EM5 Target intersected a gabbroic rock bearing a thick sequence of anomalous disseminated copper sulphides, continuous for 95m (up to 0.06% copper) from 66m downhole (TLC170). The current drilling will test for an increase in concentration of this copper mineralisation at depth. The Programme will also test at depth similar magnetic features located within the Project including a cigar shaped anomaly only 800m SE of the EM5 Target and which may be related to the EM5 rocks from SE trending lineaments in the magnetics.

Drilling will also test a circular magnetic anomaly in the north of the Project known as `Hot Spot'. The Hiding Maggie target is an EW oriented untested magnetic rock unit with a number of elevated magnetic centres, seemingly a late magnetic intrusive, that coincides with a district scale EW linear feature in the magnetics that could be a large shear zone. All these features are covered by recent sedimentation and weathering and so have no surface expression.

The major EW lineament is coincident with the orientation of the Tollu subbasin and the interpreted rifting responsible for the Tollu volcanic package. A strong near surface airborne EM anomaly that also trends across the EW lineament, probably related to the recent cover sequence, hides any potential EM anomaly that may exist at depth. Drilling will aim to identify and characterise the geology and test the magnetic intrusive and its contacts with the surrounding rocks for copper or nickelcobaltcopper mineralisation potential.