Redstone acquires gold, lithium, base metal prospects in Western Australia
ASX-listed Redstone Resources has entered into an exclusive agreement to acquire 100% interest in a suite of highly prospective gold, lithium, copper and other base metal exploration projects in Western Australia.
This strategic tenement portfolio provides Redstone with exposure to several compelling exploration targets - many of which have had limited exploration work despite being located near to word-class discoveries and deposits, which presents a significant opportunity for Redstone to apply renewed focus and modern exploration techniques.
The acquisition involves no cash consideration, enabling Redstone to rapidly start with drilling and other priority exploration activities, particularly at the Mt Cauden and Twin Hills project areas, while the technical team undertakes a comprehensive assessment of the broader portfolio. Rather, Redstone has issued 75-million fully paid ordinary shares to the vendor, Hurricane Prospecting, at a deemed issue price of $0.003 apiece. The acquisition consideration also includes a 1.5% net smelter return royalty over all the acquired projects.
"The decision to expand our exploration footprint in Western Australia aligns with our strategic focus on copper exploration at the Tollu copper deposit in the West Musgrave region. We look forward to advancing our assessment of these highly prospective assets and providing shareholders with further updates on our exploration plans in the near term," says Redstone chairperson Richard Homsany.
Redstone has already secured programme of work approvals for the Mt Cauden and Twin Hills projects, which have several identified walk-up drill targets for expedient exploration.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Energy and Densification Systems (EDS) has developed equipment for crushing, milling, blending and densifying products. Based on its globally...
VISIT SHOWROOM
Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
