Red Metal (ASX:RDM) Sybella Rare Earth Discovery Confirmation

Red Metal Limited (ASX:RDM) has announced the confirmation of vast resource potential through the results of step-out drilling at the Sybella rare earth enriched granite deposit. The drilling has revealed multiple long intercepts of magnet rare earth oxide (MREO) mineralisation, including neodymium, praseodymium, dysprosium, and terbium, with many starting at the surface and extending into mineralisation. The company's Managing Director, Rob Rutherford, highlighted the significant size potential of the discovery and the opportunity for wide shallow zones of higher-grade mineralisation, indicating the potential for a low-cost, low-capital, heap leach processing option.

Executive Commentary on Sybella Rare Earth Discovery

Step-out drilling has successfully confirmed Sybella's vast size potential and most importantly, it has shown opportunity for wide shallow zones of higher-grade mineralisation where potential starter pits could be initiated. This drilling together with our positive early-stage metallurgical test work has enhanced the potential for a bulk tonnage heap leach opportunity at Sybella. Preparations for infill drilling this season are underway and we look forward to announcing results from more detailed assessments on this exciting new drill data in the months ahead.

Summary of Sybella Rare Earth Discovery

The step-out drilling at the Sybella rare earth enriched granite deposit has confirmed its impressively large tonnage potential, with multiple long intercepts of magnet rare earth oxide mineralisation. The Eastern Zone extends for over 4.8 kilometres along strike and is up to 1.5 kilometres wide, while the parallel Western Zone is 7.2 kilometres long and varies from about 400 metres to over 1.6 kilometres wide. Both zones show scope for more localised, wide intervals of higher-grade near surface mineralisation, which will be targeted for infill drilling and further metallurgical studies. The company is optimistic about the potential for a low-cost, low-capital, heap leach processing option and is looking forward to more detailed assessments on the new drill data in the coming months.