REDSTONE RESOURCES LIMITED The Manager
Company Announcements Office Australian Stock Exchange Limited Level 4, Exchange Centre
20 Bridge Street SYDNEY NSW 2000
Electronic Lodgement
Redstone Resources Limited (ASX: RDS) ("Redstone" or "the Company") is pleased to announce that further significant copper intercepts have resulted from the Company's recently completed drilling programme at its 100% owned Tollu Project ("the Project").
Further to the Company's 12 January 2016 announcement of initial drilling results from the programme, further results (which include copper grades of up to 2.27%) are consistent with previous conducted work
on the Project area and further highlight the Project's scale and grade.
The results were primarily focused
on extending previous drilling at Chatsworth and Main Reef and testing a new zone at the Forio Prospect.
- 9m at 2.27% Cu from 27m (TLC130)
- 5m at 2.13% Cu from 54m (TLC101)
- 8m at 2.08% Cu from 17m (TLC131)
- 1m at 1.66% Cu from 23m (TLC136)
- 5m at 1.54% Cu from 93m (TLC125)
-
5m at 1.50% Cu from 19m (TLC132)
12m at 1.49% Cu from 178m (TLC087)
- 2m at 1.47% Cu from 80m (TLC104)
4m at 1.45% Cu from 147m (TLC137)
Commenting on these impressive r
sults, Redstone's Chairman, Richard Homsany stated:
"The Board is extremely pleased with these significant Cu assay results. Tollu's high grade, near surface, oxide potential has been further validated by these impressive results. These results will now be analysed and an initial JORC Resource estimate should be soon forthcoming."
"Importantly, these results provide confidence that future drilli
g at Tollu can define further copper
mineralisation.
There is significant potential upside at Tollu given drilling activities
have been
limited to certain areas constrained."
of the Project. The Project's potential copper endow
ent is not
"The success of the shallow drilling at the previously undrilled Forio Prospect also highlights the opportunity for repeat success on other veins of similarly minimal surface expression."
"In addition to defining a maiden JORC Resource estimate, the results from the completed drill
programme provide enhan ed confidence in the conceptual ex
loration target at Tollu and provide
a solid foundation for the significant potential to expand that target. The existing target compares
favourably with many global deposits and operating mines. Fut evaluate this potential."
re drill programmes and studies will
The Tollu
Project has
a concept
al exploration target
(the "Target") of 22 to 33 million tonnes of
mineralisation at a conceptual grade range of 0.9 ‐ 1.3% Cu, containing 198,000 to 445,000 tonnes of copper. The potential quantity and grade of the Target is conceptual in nature. It is important to note that
there has
been insufficient exploration to estimate a Mineral Resource and it
is uncerta n if further
exploration will result in the estimation of a Mineral Resource.
Summarised below are key further results from the drilling programme for the Chatsworth, Main Reef, Forio and Eastern Reef Prospects. The attached Table 1 contains the full results of the programme.
Redstone's 100% owned Tollu Project is located in the southeast port on of the West Musgrave region of
Western Australia (Figure 1). The Project is approximately 20km sout on the Company's 100% owned tenement E69/2450 (Figure 2).
east of the Blackstone Community
The Project consists of a large swarm of hydrothermal copper rich quartz veins in a mineralised system covering an area at least 5km2. Malachite rich gossans associated with quartz veins are exposed at the surface and form part of a dilatational system between two major structures within the Tollu Fault Zone.
The Company has identified a number of prospective targets for drilling at the Tollu Project, with the aim of
the RC drilling programme being
to target
near surface hydrothermal copper (oxide and sulphide)
mineralisation. The main activity concentrated on the known higher‐grade zones at the Chatsworth, Main
Reef and Eastern Reef prospects within the Tollu Project.
The primary purpose was to validate the Tollu
mineralised system. The delivery of a maiden (JORC) copper resource is an expected outcome.
The Chatsworth Prospect is a singl
sub vertical hydrothermal body exposed at the surface. This prospect
forms part of the dilation system between two north south trending shears. The Chatsworth Prospect has
received the majority of the technical and drilling activity to date. primary focus of the 2015 drilling p ogramme, the key results of which
The Chatsworth Prospect was the re included in Table 1 below.
Hole | Prospect | Easting (m) | Northing (m) | RL (m) | Dip (degree) | Azim (degree) | Depth (m) | From (m) | Interval (m) | True Width (m) | Cu (%) |
TLC087 | Chatsworth | 437900.1 | 71 8598 | 587.5 | 300 | ‐60 | 90 | 178 | 12 | N/C | 1.49% |
TLC090 | Chatsworth | 437996.5 | 71 8654 | 595.9 | 96 | ‐60 | 302 | 11 | 5 | N/C | 1.25% |
TLC125 | Chatsworth | 438017.5 | 71 8449 | 574.4 | 156 | ‐60 | 90 | 93 | 5 | N/C | 1.54% |
The Forio Prospect is a series of sub vertical hydrothermal bodies exposed at the surface. This prospect
forms part of the dilation system running parallel to Eastern Reef.
The Forio Prospect was one of the
primary focuses of the 2015 drilling programme, the key results of which are included in Table 2 below.
Redstone Resources Limited issued this content on 22 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 February 2016 05:56:10 UTC
Original Document: http://www.redstone.com.au/investor_centre_asx_announcements_files/2016_02_22_01.pdf
