MTM Acquires Flash Metals | INN - We Are Cryptonians

Overview

The electrification transition is nicely underway and has spurred a progress in demand for uncommon metals, reminiscent of lithium and base metals, together with nickel and copper, which most clear applied sciences require. The overall sentiment for these battery metals stays wholesome and optimistic, even amid international financial turmoil.

Australia is supporting this progress in demand by way of its mining-friendly, tier-1 jurisdictions. The nation is a world chief in producing and exporting a plethora of metals and minerals, together with iron, copper, lithium, nickel, bauxite and gold. Australia produces important quantities of 19 in-demand minerals from more than 350 operating mines. The Musgrave Province incorporates a Mesoproterozoic crystalline basement terrain that reaches throughout the shared borders of Western Australia, the Northern Territory and South Australia. The terrain has important deposits of a number of important metals, together with nickel, platinum group parts (PGEs), copper, gold, lead, zinc, chromite, and uncommon earth parts (REEs). But, a lot of Musgrave stays underexplored, particularly for the bottom metals the world now wants.

Redstone Sources (ASX:RDS) is a base and valuable metals exploration firm, exploring its 100-percent-owned, extremely potential West Musgrave Venture, which incorporates the Tollu Copper deposit, positioned within the West Musgrave Province of Western Australia. The corporate’s West Musgrave Venture is positioned proximal to BHP’s world-class Nebo-Babel nickel-copper-PGE sulphide deposit and Succoth copper (nickel, palladium) deposit, and Nico Sources’ Wingellina nickel-cobalt venture. Redstone additionally has different pending tenement functions potential for nickel and copper in the identical area. The corporate is led by a administration workforce with experience in geology and mineral exploration, enterprise growth and company regulation, creating confidence within the workforce’s means to capitalize on its belongings.

The distinctive Musgrave terrain has already drawn the curiosity of notable miners, reminiscent of BHP. BHP is progressing with the event of its Nebo-Babel nickel-copper-PGE sulphide deposit, which has been estimated to have a useful resource of 390 million tonnes grading 0.33 % copper and 0.30 % nickel, for 1.2 million tonnes of contained nickel steel and 1.3 million tonnes of contained copper steel (Mea + Ind + Inf – 2012 JORC). Final regulatory approval to start development of the Nebo-Babel mine has been granted. Different discoveries and deposits within the space, such because the Wingellina nickel-cobalt deposit, point out the potential of the West Musgrave area to change into a big base steel jurisdiction.

Redstone’s flagship, 100-percent-owned West Musgrave Venture is located between these two deposits — roughly 40 kilometres east of BHP’s Nebo Babel nickel-copper-PGE deposit and 50 kilometres west-southwest of Nico Sources’ Wingellina nickel-cobalt deposit. Redstone’s West Musgrave Venture is extremely potential but largely underexplored. The asset has the precise geological and structural setting for giant magmatic nickel-copper sulphide deposits, volcanic-hosted huge sulphide (VHMS) deposits and different giant intrusive associated hydrothermal programs.

Location of Redstone’s West Musgrave Venture, which incorporates the Tollu copper deposit, in relation to the world-class Nebo-Babel Ni-Cu-PGE deposit.

The 100-percent-owned Tollu Copper Vein deposit, positioned inside the West Musgrave Venture, has a JORC-compliant indicated and inferred useful resource estimate of three.8 million tonnes grading 1 % copper, for 38,000 tonnes of contained copper with a cut-off of 0.2 %. There’s additionally a present estimated conceptual exploration goal*, suggesting a possible for as much as 627,000 tonnes of copper at Tollu. (*conceptual exploration goal ranges from 31 to 47 million tonnes of mineralization at 0.8 to 1.3 % copper, containing 259,000 to 627,000 tonnes copper.)

Exterior Australia, Redstone Sources is an rising battery metals explorer and has been constructing its portfolio of lithium and different crucial mineral belongings in Canada.

In Could 2023, the corporate signed an unique choice settlement to accumulate 100% curiosity within the Attwood Lake Space Lithium Properties in Northwestern Ontario. The properties are thought-about extremely potential for lithium and/or uncommon aspect pegmatites.

Outcomes from the Part 1 Exploration Program at Attwood Lake confirmed quite a few pegmatite outcrops. This system consisted of a helicopter‐supported geological mapping and sampling program for lithium and uncommon‐earth-element-bearing pegmatites. Outcomes from the 209 rock seize samples collected point out elevated Li is current throughout the venture.

In July 2023, Redstone Sources entered into one other unique choice settlement to accumulate 100% curiosity within the Radisson East and Sakami Initiatives positioned within the prolific James Bay Lithium District in Quebec, host to a number of superior lithium tasks and new lithium discoveries in Canada together with:

Patriot Metals (ASX: PMT, TSXV:PMET) Corvette Venture (~170 kms east)
Winsome Sources Ltd (ASX: WR1) Cancet Venture (~100 kms east); and
Q2 Metals Corp (TSXV: QTWO) Mia Lithium Venture (~40 kms southeast).

These tasks have a mixed space of 90 sq. kilometres and canopy greater than 50 kilometres of extremely potential greenstone belts with coincident lithium‐in‐lake anomalism and are host to a number of identified pegmatite occurrences and outcrops.

Prospectivity evaluation and multispectral evaluation just lately undertaken by Redstone Sources on Radisson East and Sakami has recognized a big variety of excessive precedence lithium-caesium-tantalum (LCT) pegmatite goal areas requiring comply with up exploration.

Redstone Sources additionally just lately entered right into a 50/50 three way partnership settlement with Galan Lithium (ASX:GLN) to accumulate 100% of the extremely potential suite of lithium tasks that embody the Camaro, Taiga and Hellcat Initiatives within the James Bay Lithium Province in Quebec. Redstone would be the supervisor of the three way partnership which covers 5,187 hectares of tenure. The three way partnership additionally secured an choice to accumulate 100% of the PAK South and PAK Southeast Lithium Initiatives comprising 1,415 hectares in Ontario’s Electrical Avenue close to Frontier Lithium’s PAK Lithium Venture.

An skilled administration workforce leads Redstone with many years of expertise within the mineral sources sector, with experience in mineral exploration, mining operations and company finance.

Firm Highlights

Redstone Sources is an Australia-based mineral exploration firm exploring extremely potential properties for copper and nickel within the West Musgrave area of Western Australia.
The West Musgrave area has already drawn the curiosity of miners who’ve made important discoveries, together with the world-class Nebo-Babel nickel-copper-PGE sulphide deposit and the Wingellina nickel-cobalt deposit.
Redstone’s flagship West Musgrave Venture is positioned close to these present tasks, solely 40 km west of BHP’s Nebo-Babel deposit, indicating the potential of the corporate’s tenure.
The corporate owns 100% of the West Musgrave Venture, which incorporates the Tollu Copper vein deposit.
- It has the precise geological and structural setting for giant magmatic nickel-copper sulphide deposits, VHMS deposits and different giant intrusive-related hydrothermal programs
- The Tollu Copper vein deposit is proof of a big hydrothermal system within the venture space.
In Could 2023, Redstone entered into an settlement to accumulate a 100% curiosity within the Attwood Lake Space Lithium properties, in Northwestern Ontario, Canada, which was carefully adopted by another choice settlement entered into in July 2023, to accumulate 100% of the Radisson East and Sakami Initiatives in James Bay, Quebec, Canada. These tasks are identified to be extremely potential for lithium and/or uncommon earth aspect pegmatites, and near a number of superior lithium tasks.
The Attwood and Radisson East and Sakami Venture acquisitions complement the corporate’s West Musgrave copper-nickel venture and its technique to extend publicity to the rising international battery metals and probe for crucial minerals in excessive demand.
A Part 1 exploration program performed on the Attwood venture has recognized quite a few pegmatite outcrops with pattern assay outcomes indicating elevated lithium is current throughout the venture.
A number of excessive precedence exploration targets have been confirmed from latest prospectivity evaluation and multispectral evaluation undertaken over the Radisson East and Sakami Initiatives.
Redstone Sources has additionally entered right into a 50/50 three way partnership settlement with Galan Lithium (ASX:GLN) to accumulate 100% of a extremely potential suite of lithium tasks in James Bay, Quebec, and choice settlement for lithium tasks in Northwestern Ontario.
A powerful administration workforce leads the corporate with many years of expertise within the sources sector.

Key Initiatives

The West Musgrave Venture

The West Musgrave Project covers 237 sq. kilometres of extremely potential but underexplored terrain. The asset is 40 kilometres east of the world-class Nebo-Babel nickel-copper-PGE sulphide deposit owned by BHP, and incorporates appropriate geological construction and settings for nickel-copper deposits. Redstone plans to proceed the exploration of the asset to comply with up on latest drilling and exploration outcomes which recognized quite a few potential targets.

Considerably, latest drilling at 7.5 km northeast of the Tollu Copper Vein deposit has confirmed for the primary time the presence of mafic-ultramafic intrusions on the venture, that are potential host and/or supply rocks for nickel-copper-PGE ± cobalt mineralisation. This affirmation is critical for Redstone particularly contemplating the western boundary of the venture space is simply 40 kms east of the BHP-owned world-class Nebo Babel nickel-copper-cobalt-PGE deposit and might also be a possible rationalization for a supply of the excessive grade copper at Tollu.

The Tollu Copper Vein Venture

Redstone’s Tollu Copper Vein deposit is positioned inside the broader West Musgrave Venture and has already produced promising drilling outcomes. Tollu hosts an enormous swarm of hydrothermal copper-rich veins in a mineralized system protecting an space of at the very least 5 sq. kilometres. Copper mineralization is uncovered on the floor and varieties a part of a dilation system inside and between two main shears.

Redstone has outlined a JORC 2012 useful resource estimate for Tollu of three.8 million tonnes grading 1 % copper, for 38,000 tonnes of contained copper and 0.01 % cobalt, which equates to 535 tonnes of contained cobalt. Nevertheless, the corporate considers that this estimate could also be far higher with additional drilling.

Drilling outcomes from Redstone Sources’ most up-to-date exploration program proceed to ship excellent copper outcomes for the Chatsworth and Forio prospects on the Tollu Copper Vein deposit.

At Chatsworth, RC drill gap TLC205 intersected 11 metres at 1.2 % copper from solely 29 metres downhole, extending the beforehand intersected excessive‐grade copper lens a additional 20 metres in direction of the floor.

Along with the earlier drilling, TLC205 has proven that the focused excessive grade copper lens at Chatsworth is as much as 26 metres thick (downhole), has a copper grade at all times over 1 % copper and extends over 140 metres vertical from TLC205 to its deepest intersection so far in TLC188 at 174 metres-184 metres downhole. No drilling has examined beneath the intersection in TLC188 and so this important, as much as 26 metre thick (downhole) vertically lengthy high-grade copper lens stays open at depth.

Earlier intersections of the identical excessive‐grade copper lens intersected in TLC205 embody:

TLC188 ‐ 10 m at 2.51 % copper from 174 m downhole together with 3 m at 4.71 % copper from 175 m downhole;
TLC189 ‐ 26 m at 1.46 % copper from 61 m downhole together with 1 m at 5.1 % copper from 84 m downhole;
TLC033 ‐ 5 m at 2.21 % copper from 100 m downhole; and
TLC034 ‐ 15 m at 1.39 % copper from 136 m downhole together with 3 m at 3.67 % copper from 122 m downhole.

E-W Cross-section of excessive grade copper lens at Chatsworth Prospect, Tollu Copper Deposit. Latest intersection in RC drill gap TLC205 is proven together with intersections from 2021 drilling in TLC188 and TLC189 in addition to intersections in historic drilling, RC drill holes TLC033 and TLC034

Latest drilling has additionally delivered additional high-grade intersections at Forio, together with the best Cu grade ever intersected with 1 m at 18.5 % copper from 18 m downhole in RC drill gap TLC203.

Drilling accomplished at Forio in late 2022 RC drilling marketing campaign at Tollu had been geared toward testing the continuity alongside strike of a zone of excessive grade copper lenses at Forio recognized in earlier drilling.

The excessive grade Cu intersections at Forio embody:

8 m at 4.1 % copper from 13 m downhole depth (TLC203) together with 1 m at 18.5 % copper from 18 m downhole.
4 m at 1.2 % copper from 45 m downhole (TLC203)
6m at 1.47 % copper from 80 m downhole (TLC201).

The excessive grade copper intersections in RC drill holes TLC201 and TLC203 prolong the zone of excessive grade copper lenses at Forio alongside strike north and south for at the very least 60 m steady.

Lengthy-section of RC drill holes TLC201 and TLC203 just lately drilled to check for extension of the excessive grade copper mineralisation intersected in TLC181, TLC153 and TLC173 in earlier drilling. Cross-section is drawn alongside strike N-S of the Forio vein system and searching in direction of the east

The numerous drilling intersections of excessive‐grade copper mineralisation at each the Chatsworth and Forio Prospects (relationship again to 2017) at Tollu are but to be included within the present JORC 2012 Tollu useful resource estimate, which suggests there could also be alternatives within the Tollu useful resource but to be realised.

Attwood Lake Lithium Venture

Geologist exposes pegmatite outcrop beneath lichen.

The Attwood Lake lithium venture is positioned roughly 115 kilometres east‐southeast from the neighborhood of Pickle Lake in northwestern Ontario. Geologically, the venture varieties a part of the Neoarchean English River subprovince of the Superior Province. It straddles or is positioned inside just a few kilometres of the boundary to the Uchi subprovince, which is positioned to the north. The English River subprovince is an Archean gneiss belt of largely metasediments and sedimentary derived‐orthogneisses. Reconnaissance bedrock mapping by the Ontario Geological Survey (OGS) in 2016 recognized largely gneissic metasediments within the western half and alongside the jap margin of the property, whereas the central half is dominated by muscovite‐bearing, peraluminous granitic rocks together with some metavolcanic and migmatized supracrustal rocks. Mapping recognized muscovite‐bearing pegmatites, largely in metasediments close to their contact with the granitic rocks, a setting that’s favorable for potential lithium pegmatites.

Radisson East and Sakami Lithium Initiatives

The Radisson East and Sakami lithium tasks within the prolific James Bay Lithium District, Québec are positioned close to:

Patriot Battery Metals Inc. (ASX:PMT, TSXV:PMET) Corvette Venture (~170 kms east)
Winsome Sources Ltd (ASX:WR1) Cancet Venture (100 kms east)
Q2 Metals Corp (TSXV: QTWO) Mia Lithium Property (~40 kms southwest)

Radisson East and Sakami Lithium Project location map

Radisson East and Sakami Lithium Venture location map

The Sakami Lithium Venture spans 68 sq. kilometres consisting of three declare blocks inside the La Grande sub‐province roughly 14 kilometres north of the boundary between the La Grande and Opinaca sub‐provinces, in the same geological setting because the Corvette (Patriot Battery Metals), Cancet (Winsome Sources) and Adina Lithium Deposits (Winsome Sources) lithium deposits, which all happen 10 to twenty kilometres north of the boundary.

A prospectivity evaluation has generated eighteen goal areas which can be potential for LCT

pegmatites throughout the Sakami Lithium Venture. The 2 easternmost declare blocks comply with a north‐south pattern of elevated prospectivity scores, and the northwestern‐most declare block is highlighted by an elevated prospectivity rating alongside its northern boundary. The north‐south pattern of prospectivity seems to be related to amphibolite and paragneiss models alongside north‐northeast‐trending faults. The best precedence targets on the Sakami Lithium Venture are targets S01 by way of S04 to the south finish of the venture in direction of the La Grande‐Opinaca sub‐province boundary. These excessive precedence targets happen in an space the place a north to south trending amphibolite unit is truncated by east-to-west faulting and a rise in low-level geochemical anomalism that’s related to LCT pegmatites happens within the path of the La Grande‐Opinaca regional geological boundary.

Prospectivity analysis of Sakami Lithium Project

Prospectivity evaluation of Sakami Lithium Venture

The Radisson East Lithium Venture spans 22 sq. kilometres consisting of two declare blocks, each inside the La Grande sub‐province and 55 kilometres to the northeast of Q2 Metals’ Mia Lithium venture.

The prospectivity evaluation has generated six goal areas for potential LCT pegmatites throughout the Radisson East Lithium Venture. The easternmost declare block follows a northwest pattern of elevated prospectivity, and contains targets RE01 and RE02, the best precedence targets on this venture. The westernmost declare block follows a northeast pattern of decrease however barely elevated prospectivity scores and contains targets RE03 by way of RE06. These traits of elevated prospectivity each comply with basalt models that underlay each declare blocks.

Prospectivity analysis of Radisson East Lithium Project

Prospectivity evaluation of Radisson East Lithium Venture

A preliminary subject programme shall be accomplished over the Sakami and Radisson East Initiatives to evaluate the best prospectivity goal areas recognized from a latest prospectivity evaluation, at the side of the numerous variety of potential LCT pegmatite outcrop targets recognized by multispectral evaluation. The primary cross programme will embody subject mapping, outcrop sampling and geochemical sampling to confirm the presence of pegmatite outcrops and to check for lithium mineralisation.

Redstone and Galan Joint Enterprise

James Bay Lithium Initiatives – Taiga, Camaro and Hellcat

The Redstone and Galan 50/50 JV just lately acquired the James Bay Lithium Initiatives, particularly three prime quality tasks consisting of Taiga, Camaro and Hellcat Initiatives (TCH). The tasks cowl 3,850 hectares and are adjoining to Patriot Battery Metals’ (TSXV:PMET) Corvette Lithium discovery in James Bay. PMET’s CV8 pegmatite is likely one of the most interesting new arduous rock lithium discoveries, with seize samples averaging 4.6 % lithium oxide Li2O, and is positioned only one.4 kilometres north of the Taiga Venture. PMET’s newly-discovered CV13 pegmatite cluster is positioned 1.5 kilometres north of the Camaro Venture.

James Bay Venture Highlights:

The Taiga and Camaro are located within the Meso-Archean to Paleoproterozoic La Grande Subprovince of the Superior Province underlain by the Poste Le Moyne and Langelier plutons, respectively. The Camaro venture is hosted within the Semonville Pluton with native home windows of the Rouget Formation metabasalt. Properties are hosted in hornblende biotite diorite, quartz-rich diorite, biotite hornblende tonalite, granodiorite, granite, conglomerate, wacke, and amphibolite.

Ontario Lithium Initiatives – PAK South and PAK Southeast

As a part of the three way partnership with Galan Lithium, Redstone Sources has secured an choice to accumulate 100% of the PAK South and PAK Southeast claims in Ontario’s “Electrical Avenue”, positioned roughly 170 kilometres north of Pink Lake, Ontario, within the Pink Lake Mining Division.

The PAK South and PAK Southeast properties cowl 1,258 hectares and 157 hectares, respectively, and several other pegmatite models have been recognized in regional mapping by the Ontario Geological Survey (OGS).

The tasks are adjoining to Frontier Lithium’s (TSXV:FL) PAK Lithium Venture, which incorporates two lithium deposits, the Spark Deposit and PAK Deposit, and two different prospects.

Highlighting the prospectivity of the Electrical Avenue province, Frontier just lately reported an intersection of 108.4 m of steady pegmatite averaging 2.12 % lithium oxide from its Spark Pegmatite(Frontier’s TSX-V announcement dated 25 September 2023).

Board and Administration

Richard Homsany – Non-executive Chairman

Richard Homsany is govt vice-president of Mega Uranium, a Toronto Inventory Alternate listed firm and govt chairman of Toro Power Restricted, an ASX-listed uranium firm. He’s additionally the non-executive chairman of Galan Lithium and the Well being Insurance coverage Fund of Australia Restricted.

Previous to this Homsany was a company and business advisory associate with one among Australia’s main regulation companies. He’s at present the principal of Cardinals Legal professionals and Consultants and has been admitted as a solicitor for over 20 years. Homsany has in depth expertise in company regulation, together with advising public sources and power corporations on company governance, finance, capital raisings, takeovers, mergers, acquisitions, joint ventures and divestments.

He additionally has important board expertise with publicly listed useful resource corporations and within the sources {industry}. He has additionally labored for an ASX prime 50-listed internationally diversified sources firm in operations, danger administration and company.

Homsany is a licensed training accountant and is a fellow of the Monetary Providers Institute of Australasia (FINSIA). He has a commerce diploma and honors diploma in regulation from the College of Western Australia and a graduate diploma in finance and funding from FINSIA.

Edward van Heemst – Non-executive Director

Edward van Heemst is a distinguished Perth businessman with over 40 years of expertise in managing a various vary of actions with giant personal corporations.

He’s the managing director of Vanguard Press and was beforehand the long-time chairman of Perth Racing (1997 to 2016). He was additionally appointed as non-executive chairman of NTM Gold, an ASX-listed firm from July 2019 to March 2021.

Van Heemst holds a bachelor of commerce diploma from the College of Melbourne, an MBA from the College of Western Australia and is a member of the Institute of Chartered Accountants Australia.

He has in depth data of capital markets and established mining {industry} networks.

Brett Hodgins – Technical Director

Brett Hodgins has over 20 years {of professional} expertise within the sources sector primarily centered on exploration and mining operations. He started his profession as a geologist with Gown River Mining and Rio Tinto Iron Ore. Throughout that point he was concerned with the commissioning and growth of the West Angelas and Hope Downs operations. Hodgins’ latest roles embody basic supervisor venture growth for Iron Ore Holdings and he’s president/CEO of Central Iron Ore Ltd, a TSXV-listed firm gold and iron ore explorer. He brings a variety of expertise in exploration, feasibility research, operations, and has a broad data of the useful resource sector.

Hodgins has accomplished a bachelor of science diploma with honors in geology from Newcastle College, diploma of administration and a graduate diploma in finance and funding from FINSIA.

Dr. Greg Shirtliff – Geological Advisor

Dr. Greg Shirtliff has over 20 years of expertise in industry-related geology and geochemistry, together with a PhD in mine-related geology from the Australian Nationwide College. Since his research, Shirtliff has spent over 17 years in varied roles within the mining and exploration {industry} starting from environmental, mine geology, useful resource growth, exploration and administration roles, exploration and technical tasks inclusive of engineering and metallurgical. His roles have included a number of years at ERA-Rio Tinto’s Ranger Uranium Mine, because the senior geoscientist for Cameco Australasia and extra just lately because the lead geologist and technical supervisor for Toro Power Ltd, an ASX-listed uranium growth firm in Australia the place he’s the exploration and technical lead chargeable for rising the viability of the corporate’s uranium and mineral sources, growing and directing the corporate’s uranium and non-uranium exploration technique, aiding the corporate technically by way of EPA approval for a uranium, and guiding the engineering and metallurgical by way of to scoping degree financial evaluation.

Shirtliff has had latest exploration success at Toro Power, discovering a number of zones of huge nickel sulphide mineralization alongside the Dusty Komatiite, arguably the primary huge nickel sulphide mineralization found within the Yandal Greenstone Belt in Western Australia.

Shirtliff holds directorships on privately owned consultancy and prospecting corporations.

Shirtliff is a long-standing member of the Australian Institute of Mining and Metallurgy and the internationally acknowledged Society of Financial Geologists.

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