Red Metal notes the rare earth-enriched granite-intrusion at the project is exposed at surface for about 12km in length and 3km in width, with the bulk of the rare earths in soluble fluoro-carbonate minerals. RC drilling revealed two higher-grade zones, each about 1km in width.

Management believes there is vast tonnage potential, with zones open north, south and at depth. It says future plans for proposed mining would involve open pit mining and an expected magnet rare earth oxides (MREO) figure of about 70 to 80 per cent payable, based on anticipated recovery levels.

Red Metal also has several other projects and interestingly, owns about 53 per cent of Maronan Metals, the company it spun-out and floated in April 2022. Maronan has a highly-prospective lead-silver-copper-gold project that is also based in the Mt Isa region.

Now that it has validated the potential for economic extraction and processing of its Sybella rare earth deposit, the future pathway to generating real value from the project could be a game-changer for Red Metal.

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