Red Metal Resources Ltd. (OTCQB:RMES), a mineral exploration company with copper-gold assets in Chile, is pleased to announce that its Chilean subsidiary, Minera Polymet Limitada, ("Polymet") has drilled two holes on its Farellon property.
Minera Polymet Ltda. has completed two reverse circulation drill holes totaling 116 metres, targeting an area previously drilled in 2011. The target of the drilling was to expand on the intercept in drill hole FAR-11-001 of 3.95% total Cu and 0.53 g/t gold over eight metres. The two new drill holes, FAR-13-001 and 002, were drilled 25 metres along strike and intended to aid in identifying the most prospective area on the site to initiate small scale production.
The Farellon property consists of seven mining and exploration concessions totaling 1,053 hectares in the Carrizal Alto mining district located approximately 75 kilometers northwest of the city of Vallenar, 150 kilometers south of Copiapo and 20 kilometers west of the Pan American Highway. The property is easily accessible year round by dirt roads that crisscross the property and is located close to power, water and a major urban centre, Copiapo, with a readily available mining workforce.
Caitlin Jeffs, P.Geo, President & CEO of Red Metal stated, "with the start-up of drilling on the Perth project by our partner Geoactiva and new advancements on the Farellon project by Red Metal, we are looking forward to seeing the full potential of our Carrizal Alto area projects."
