Better intercepts include:
- 55.7 metres fr om 395.3 metres at 1.1g/t gold,
- 2.7 m etres from 469.3 metres at 6. 2% lead, 180g/t silver.
The gold with arsenic mineralisation is hosted in a banded carbonate – pyrrhotite – magnetite sequence typical of the rock type in the outer halo surrounding the lead – s ilver sulphide mineralisation.
Visual inspection of the recently completed step – out drill hole MRN14006, situated 140 metres south and 8 0 metres above MRN13002, has intersected similar banded carbonate – pyrrhotite – magnetite rocks to those in MRN14003 with minor beds of lead sulphide s. Assay resu lts should be available within about three weeks.
The recent shallow holes stepping above and south of MRN13002 have enabled Red Metal to better define the mineral and metal zonation and the geometry of the northern fold structure. These holes are interpreted to have intersected the margin of the lead sulphide system and clearly indicate that the best potential for thicker and higher – grades exists below and north of the mineralisation in MRN13002 and MRN14002.
Step – out drill hole MRN14004 testing the down plunge extent of the mineralisation in MRN13002 is progressing well and is currently at 124 8 metres. Drilling on the step – out hole MRN14007 has commenced to test the apex to the northern fold structure about 30 metres north of MRN13002 (Figure 1) . Visual results from both of these holes are expected within less than two weeks with assays about four weeks later.
