Red Metal expands Qld footprint in hunt for copper elephants

Management describes its Sybella deposit as “geologically-unique” with granite-hosted soft ore that is abundant within its ground. It believes the nature of the ore provides the project with a compelling edge and offers simple crushing and processing options.

Sybella lies in a 12km-long by 3km-wide granite-pervasive corridor and holds an enormous mineral resource of 4.795 billion tonnes grading 302 parts per million (ppm) neodymium-praseodymium. These sit alongside the more valuable heavy rare earths dysprosium and terbium at a combined 28ppm, with yttrium adding a further 136ppm.

Recent column leach tests delivered neodymium spectacular results with recoveries of up to 76 per cent and praseodymium up to 78 per cent from coarsely crushed ore using weak sulphuric acid at ambient temperature. The results support a potentially simple, low-cost heap-leach operation, with Sybella’s near-surface weathered material offering a zero strip ratio.

Heavy rare earths are worth their weight in gold as they are critical in producing high-temperature magnets used in wind turbines, medical imaging devices and electric vehicles.

As the global electrification push looks to increase electricity’s share of total energy use and copper’s major role as the primary conductor for renewable energy systems and electricity grids, the future for copper looks bright. With copper pricing at US$6.70 (A$9.60) per pound, Red Metal’s efforts to unlock valuable sources of this much-needed raw material appear a valid endeavour.

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