202615 releases
Red Metal Defines 3-Kilometre Chargeability Trend Along Copper Gold Bearing Vein Structures at Carrizal
Red Metal Resources reported final results from 2D and 3D induced polarization and resistivity surveys over its Carrizal copper-gold-cobalt property near Vallenar, Chile, identifying a chargeability trend about 3 kilometres long that follows mapped veins to depths of 350 to 500 metres. The highest-priority target is a roughly one-kilometre anomaly along the Gorda vein extending to about 550 metres, tested by only one drill hole. The release also announces the engagement of Oak Hill Financial Inc. for advisory and investor relations services, at $12,000 per month.
Drill resultsRed Metal Provides Farellon Mining Update
Final ENAMI settlements have been received for August and September 2026 deliveries from the Farellon Project at the Carrizal property near Vallenar, Chile, covering 29 lots totalling 1,042.3 dry tonnes at a weighted average 0.92% insoluble copper and 0.24 g/t gold; September lots averaged 1.26% copper and 0.31 g/t gold versus 0.66% and 0.19 g/t in August. Settlement value was about US$75,750 before IVA, yielding roughly US$6,440 in royalties to Red Metal on its 8.5% net effective royalty. Lessee Minera KMT has advanced about 115 metres of north tunnel development to Level 9, approximately 110 metres below surface, and hauled a third lot of about 300 tonnes on October 8, 2026.
CorporateRed Metal Resources Reports First Ore Delivery From Farellon Ahead of Schedule, Launching Non-Dilutive Royalty Revenue
Lessee Minera KMT SpA delivered approximately 591.66 tonnes of copper sulphide ore in 16 truckloads to ENAMI's Vallenar processing plant on August 20 and 21, 2026, from Level 7 of the north tunnel at the Farellon 1/8 concession, part of the Carrizal Copper-Gold-Cobalt Property near Vallenar, Chile. Red Metal receives a 10% net sales royalty, less a pre-existing 1.5% vendor royalty, for a net 8.5%. Ten rock samples were submitted for copper, gold and silver assays, with results pending.
CorporateRed Metal Leases its Irene and Margarita Copper-Gold Concessions to Local Artisanal Miner
A renewable five-year lease of the mining rights to the Irene and Margarita copper-gold concessions (approximately 106 hectares), located about 15km east of Vallenar in Chile's Atacama Region, has been signed by subsidiary Minera Polymet SpA with local artisanal miner CMS Catalina. Polymet will receive a 10% royalty on the gross value of minerals extracted, with a guaranteed minimum of US$1,000 per month starting in the third month. Production is scheduled to ramp to a minimum of 2,500 tonnes per month after a three-month grace period.
NewsRed Metal's Carrizal IP Survey Defines a Chargeability Trend Across All Six Consecutive Lines, Open at Depth
Preliminary 3D induced polarization results from the southern block of the Carrizal copper-gold-cobalt property near Vallenar, Chile's Atacama Region, returned chargeability anomalies across all six lines (L0, L200, L400, L600, L800, L1000), each about 2,000 metres long and spaced 200 metres apart, traced over roughly one kilometre and open along strike and at depth. A secondary chargeability trend was identified at depth in the eastern parts of Lines L800 and L1000. Drilling to date has not tested the highest anomalies.
Drill resultsRed Metal Site Visit Confirms Development Progress at Carrizal IOCG Project
Site visits on June 18 and July 1, 2026 confirmed that lease operator Minera KMT SpA has active mine development underway at the Farellon 1/8 concession of the Carrizal copper-gold-cobalt property in Chile's Atacama Region, with de-watering of the historic Level 7 workings at the North Mine about 90% complete and the South Mine portal advanced 10 metres toward a mineralized vein. Red Metal holds a 10% sales royalty on ore sold to ENAMI, with production targeted by end of summer.
CorporateRed Metal Provides Operational Update Following Recent Rainfall in Chile's Vallenar Region
Heavy rainfall of approximately 104 millimetres between July 15 and 19, 2026, including about 50 millimetres on July 19, forced the temporary demobilization of the induced polarization survey crew for roughly one week at the Carrizal Copper-Gold-Cobalt Property in Chile's Atacama Region due to hazardous road conditions. The crew has since remobilized and no material impact on the IP program timeline is currently expected. Mining by lessee Minera KMT at the Farellon 1/8 concession continued uninterrupted, aided by diversion trenches.
CorporateRed Metal Reports $352,500 in Warrant Exercises and Engages Marketing Consulting Firm
Gross proceeds of $352,500 were received from the exercise of 4,354,167 common share purchase warrants by three holders, one of whom is an insider, with proceeds to fund ongoing exploration programs and general working capital. Spark Newswire has been engaged for marketing and investor awareness services for an initial two-month term beginning in late June 2026, for US$125,000 in cash (US$50,000 first month, US$75,000 second month), with no securities payable and an optional US$50,000 per month maintenance arrangement thereafter.
FinancingRed Metal Signs Mining Agreement at Carrizal IOCG Project
A 5-year renewable mining lease has been signed between Red Metal's Chilean subsidiary Minera Polymet SpA and Minera KMT SpA for the 66-hectare Farellon 1/8 concession at the Carrizal Copper-Gold-Cobalt Property in Chile's Atacama Region. KMT must extract a minimum 2,500 tonnes of ore monthly after a seven-month development period and pay annual concession taxes. Polymet will receive 10% of Cu, Ag and Au ore sales and 15% for cobalt-bearing ores, each less an existing 1.5% royalty.
CorporateRed Metal Induced Polarization (IP) Survey Underway at Carrizal Property
An induced polarization survey has begun at the Carrizal Property in Chile, with a crew from Geophysical Studies Chile of La Serena mobilized to site. The program covers 37 line-kilometres across two grids, 25 line-kilometres at a northern target and 12 line-kilometres at a southwestern target, collecting chargeability data to depths of approximately 500 m. As of April 22, 2026, crews had laid out 7.5 km of cable in the northern grid; results will feed into drill planning.
Drill resultsRed Metal Completes LiDAR Analysis and Identifies New Exploration Targets
Analysis and interpretation of a LiDAR survey has been completed at the 100%-owned Carrizal Copper-Gold-Cobalt Property in Chile's Atacama Region, outlining 30 veins (13 primary, 17 secondary structures), 4 areas of dense historic artisanal workings with little to no previous surface sampling, and 4 new target areas. A crew from Geophysical Studies Chile has mobilized and begun a 37 line-kilometre induced polarization survey, with results to feed into drill planning targeting sulfide mineralization up to 500 m depth.
Drill resultsRed Metal Initiates IP Survey on its Carrizal Copper-Gold-Cobalt Project
Geophysical Studies Chile of La Serena has been engaged to complete a 37 line km induced polarization survey at the 100%-owned Carrizal Copper-Gold-Cobalt Project in Chile's Atacama Region, targeting chargeability from sulphides to depths of up to 500 m. Two grids are planned: a northern target of 10 lines of 2.5 km (25 km) and a southwestern target of 6 lines of 2 km (12 km). Results will be used to refine targets for a second phase of drilling.
CorporateRed Metal Resources Commences Detailed LiDAR Survey on Carrizal Cu-Au-Co Property, Chile
A detailed LiDAR survey has begun over the Carrizal Cu-Au-Co property in Chile, focused on the Farellon Project, with data collection expected between February 2nd and 8th. The survey covers 1,293 hectares and will be flown by Red Rock SpA using a DJI Matrice 300 with an L2 LiDAR scanner. The data will be used to extend vein-hosting structures, locate historic workings, map geological contacts and develop drill targets alongside existing surface sampling.
Drill resultsRed Metal Resources Announces Increased Financing
The size of a non-brokered private placement has been increased to up to C$1,000,000 from C$750,000, comprising up to 16,666,667 units at C$0.06 per unit. Each unit includes one common share and one warrant exercisable at C$0.09 in the first 12 months, C$0.12 from 12 to 24 months and C$0.15 from 24 to 36 months. Proceeds will fund general working capital and exploration at the Carrizal copper project in Chile. Securities carry a four-month-and-one-day hold period.
FinancingRed Metal Resources Announces Financing
A non-brokered private placement of up to 12,500,000 units at $0.06 per unit for gross proceeds of up to C$750,000 has been launched, with each unit comprising one common share and one warrant. The warrants are exercisable at C$0.09 for 12 months, C$0.12 in months 12 to 24 and C$0.15 in months 24 to 36. Proceeds will fund general working capital and exploration at the Carrizal copper property in Chile, with a four-month-and-one-day hold period.
Financing
20254 releases
Red Metal Resources Provides Update on Results of Mapping Program on its Carrizal IOCG Property
Surface sampling and mapping at the Carrizal IOCG property in Chile's Candelaria belt returned grab samples of 17.3% Cu with 5.0 g/t Au, 7.1% Cu with 8.4 g/t Au and 6.8% Cu with 7.0 g/t Au in the South Theresa Zone. Of 71 samples collected, all exceeded 1% Cu, 41 exceeded 4% Cu and 22 returned more than 1 g/t Au. The program followed up veining extending about 15 km from the historic Carrizal Alto mine, including 2.5 km of the Armonia vein that has not been drill tested.
Drill resultsRed Metal Resources Commences Sampling and Mapping Program on its Carrizal IOCG Property
A sampling and mapping program has begun at the Carrizal IOCG property in Chile's Candelaria belt, following up on previously identified veins spanning approximately 15 km of veining along strike from the historic Carrizal Alto mine. Samples will be sent for assay, with results expected shortly, to refine future drill targets. A 2022 program returned a high sample of 5.77% Cu, 1.55% Co and 0.11 g/t Au two kilometres along strike north of recent Farellon drilling, and mapped three veins each with over a kilometre of strike length.
Drill resultsRed Metal Resources Plans Extensive 2025 Work Program on its Carrizal IOCG Property Following Sampling Discoveries of up to 5.77% Copper
Planning is underway for a 2025 work program at the Carrizal IOCG property in Chile's Candelaria belt, using ASTER remote sensing surveys and ground sampling to identify drill targets and extend known mineralization. The program follows a grab sample returning 5.77% Cu, 1.545% Co and 0.11 g/t Au located two kilometres along strike north of 2022 drilling on the Farellon structure, with three veins mapped over more than a kilometre of strike each. A nine-hole, 2,010 metre drill program was completed in 2022.
Drill resultsRed Metal Resources Planning 2025 Work Program on 100% Owned Hydrogen-Prospective Mineral Claim Package Spanning Quebec and Ontario
A Phase 1 work program and data compilation is being planned for a recently acquired, 100% owned portfolio of seven claim packages covering 172 mineral claims and over 4,546 hectares in Ville Marie, Quebec and Larder Lake, Ontario. The claims lie north, northeast and southwest of Quebec Innovative Materials Corp.'s hydrogen-in-soil discovery of over 1,000 ppm at Saint-Bruno-de-Guigues, announced September 4, 2024; 164 of the 172 claims have been approved. Planned work may include soil gas sampling, underwater surveys in Timiskaming Lake, gravimetry, AMT geophysics and remote sensing.
News
202411 releases
Red Metal Resources Acquires 100% Interest in Three Hydrogen-Prospective Mineral Claims Packages in Ontario
A definitive agreement with an arm's length vendor gives Red Metal a 100% interest in three mineral claim packages covering 149 claims and approximately 3,246 hectares in the Larder Lake Mining District of Ontario, near Ville-Marie, Quebec, for $8,000 and 2.25 million common shares, with no royalty. The claims are prospective for hydrogen and lie near Quebec Innovative Materials Corp.'s hydrogen-in-soil discovery of over 1,000 ppm announced September 4, 2024. Red Metal's area portfolio now totals 172 claims over 4,546 hectares.
AcquisitionRed Metal Resources Engages German Investor Awareness and Digital Marketing Consultants
Two marketing engagements were signed: Investment-Zirkel-München for German-language investor awareness over a two-year term at CAD$25,000, and Free Market Media Ltd. of Langley, BC, under a November 19, 2024 Media Services Agreement for digital media and awareness campaigns for up to US$50,000 over 90 days. The company also closed part of its agreement to acquire 100% of 19 mineral claims in Quebec contiguous to QIMC's hydrogen discovery, paying $5,000 plus GST and issuing 1,100,000 shares for 11 approved claims, with 500,000 shares reserved.
CorporateRed Metal Resources Announces New Board Member
Matt Parent has been appointed to the Board of Directors of Red Metal Resources Ltd. Parent has 35+ years of business experience in business strategy and operations, holds a Bachelor of Commerce from the University of Windsor and an accounting degree from Athabasca University, and has completed the Canadian Securities Course and IFSE Dealer Representative course. The Board now consists of Caitlin Jeffs, Cody McFarlane, Michael Thompson, Marian Myers, Brian Gusko and Matt Parent.
ManagementRed Metal Resources Expands Land Position in Natural Hydrogen District, Quebec
A 100% interest in four additional mineral claims in Quebec's Ville Marie area has been acquired for CA$5,000, with no royalty payable, subject to customary closing conditions including Canadian Securities Exchange approval if required. Red Metal's holdings now comprise four claim packages covering 23 cells and over 1,300 hectares, of which 15 cells have been approved by the Quebec Ministry of Natural Resources and Forests. The company is planning an initial exploration program.
CorporateRed Metal Resources Provides Corporate Update and Announces Financing
A non-brokered private placement for gross proceeds of up to C$840,000 through up to 9,750,000 units was announced: up to 3,000,000 flow-through units at C$0.10 for up to $300,000, and up to 6,750,000 non-flow-through units at C$0.08 for up to $540,000, each unit including a half warrant exercisable at C$0.12 for 18 months. Finder's fees of up to 10% may apply. Flow-through proceeds will fund exploration of newly acquired Ville Marie claims in Quebec; non-flow-through proceeds will fund working capital and the Carrizal property in Chile.
CorporateRed Metal Resources Executes Definitive Agreement to Acquire 100% Interest in Mineral Claims Package in Ville Marie, Quebec, Contiguous to Recent Hydrogen Discovery
A definitive agreement has been executed with an arm's length vendor to acquire a 100% interest in three packages of mineral claims and claim applications covering 19 cells and over 1,100 hectares near Ville Marie, Quebec, contiguous to Quebec Innovative Materials Corp.'s hydrogen-in-soil discovery of over 1,000 ppm announced September 4, 2024. Consideration is $5,000 plus GST and up to 1.6 million common shares, with 1,100,000 issued on closing of the 11 approved claims and 500,000 reserved for the remaining eight, and no royalty. Red Metal also retained Venture Liquidity Providers Inc. for market-making at $5,000 per month from November 1, 2024 for an initial three-month term.
AcquisitionRed Metal Resources Signs LOI to Acquire Mineral Claim Package in Ville Marie, Quebec, Contiguous to Recent Hydrogen Discovery
A letter of intent has been signed with an arm's length vendor to acquire a 100% interest in three mineral claim packages covering 19 cells and over 1,100 hectares in the Timiskaming Graben, about 15 km north of Ville Marie, Quebec, contiguous to Quebec Innovative Materials Corp.'s hydrogen sample discovery of over 1,000 ppm announced September 4, 2024. Terms include up to two weeks' due diligence, a non-refundable $5,000 deposit plus GST and 1,600,000 common shares. Planned work includes soil gas, underwater, geophysical and drone surveys.
AcquisitionRed Metal Resources Engages Investing News Network
An advertising and investor awareness campaign agreement has been signed with Investing News Network, a Vancouver-based company, for a term of fourteen months commencing September 3, 2024 at a cost of $86,400 plus GST. INN currently holds no common shares and will not receive any securities as compensation. Red Metal Resources explores copper-cobalt-gold assets in Chile's Candelaria IOCG belt, including the Carrizal project.
CorporateRed Metal Resources Announces Board and Management Changes
Gregg Jensen has resigned as a director of Red Metal Resources effective August 15, 2024, and from his roles as President, CEO and Corporate Secretary, with those positions transitioning to Caitlin Jeffs effective August 16, 2024. Brian Gusko, currently VP of Finance, joins the Board, which now comprises Caitlin Jeffs, Cody McFarlane, Michael Thompson, Marian Myers and Gusko. The company explores copper-cobalt-gold assets in Chile, including the Farellon Project, where over 9,000 metres of drilling has been completed.
ManagementRed Metal Resources Announces Effective Date of Consolidation and Proposed Private Placement and Debt Settlement
A one-for-three share consolidation became effective at the opening of the market on May 23, 2024, reducing outstanding shares from 54,866,625 to 18,288,861, with the symbol remaining RMES. Red Metal Resources also intends to complete a non-brokered private placement of up to 5,400,000 shares at $0.05 per share for gross proceeds of up to $270,000 for working capital, and to issue 12,600,000 shares at a deemed $0.05 to settle $630,000 of debt, with the first tranche closing on or about May 31.
CorporateRed Metal announces management changes, proposed consolidation and debt restructuring
Gregg Jensen and Marian Myers, P.Geo. were appointed to the board effective May 10, 2024, replacing Jeffrey Cocks and Joao (John) Da Costa, with Jensen taking over as President, CEO and Corporate Secretary from Caitlin Jeffs; Brian Gusko was named VP-Finance and Myers Project Manager. The Company intends to consolidate its shares on a three-for-one basis, reducing shares outstanding from 54,866,625 to about 18,288,875, with a proposed record date of May 24, 2024. It also restructured $1,911,451.33 of debt, with creditors forgiving a portion and the balance accruing 8% annual interest and repayable over 60 months in semi-annual installments.
Management
20231 release
RED METAL ANNOUNCES PRIVATE PLACEMENT
A non-brokered private placement of up to 10,000,000 units at CDN$0.05 per unit for gross proceeds of up to CDN$500,000 is planned. Each unit includes one common share and one non-transferable warrant exercisable at CDN$0.12 for 12 months and CDN$0.20 from 12 to 24 months. Proceeds are allocated CDN$225,000 to geophysics and permitting at the Carrizal Property in Chile, CDN$225,000 to general and administrative expenses, and CDN$50,000 to financing costs. Insiders may participate.
Financing
20224 releases
Red Metal Identifies New Targets Through Mapping on the Carrizal IOCG Property
Results from the 2022 geological mapping and prospecting program at the Carrizal property in Region III, Chile included a grab sample of 5.77% Cu, 1.55% Co and 0.11 g/t Au taken two kilometres along strike north of recent drilling on the Farellon structure. Three veins were mapped in detail, each with over a kilometre of prospective strike length and mineralized grab samples, and 102 samples were taken in total. The newly mapped Gorda vein, drilled in hole FAR-22-020, lies 250 metres east of Farellon.
Drill resultsRed Metal Announces Final Results of Drill Program at Carrizal
Final results from the 2022 diamond drill program at the Carrizal property in Region III, Chile include 2.8 metres of 0.90% Cu, 0.02% Co and 0.04 g/t Au in FAR-22-019, and 4.4 metres of 0.35% Cu, 0.19% Co and 0.18 g/t Au in FAR-22-016, extending mineralization down dip to about 200 metres vertical depth in the north. The program comprised nine drillholes totalling 2,010 metres, testing the north and south Farellon structures at depth plus a newly mineralized structure 250 metres east of the Farellon vein.
Drill resultsRed Metal Reports Assay Results of 5.7 metres at 1.91% CuEq
Assay results from four of nine holes drilled in the 2,010 metre winter 2022 diamond drill program at the Carrizal property in Chile include 5.7 metres of 1.10% Cu, 0.12% Co and 0.25 g/t Au in FAR-022-020, a first intercept on the previously surface-sampled Gordal Vein, and 3.6 metres of 1.36% Cu, 0.01% Co and 0.42 g/t Au in FAR-22-017, extending mineralization about 25 metres down dip to roughly 200 metres vertical depth on the south Farellon zone. Mineralization remains open down dip in all areas drilled.
Drill resultsRed Metal Resources Announces Completion of Drilling
A nine-hole, 2,010 metre drill program has been completed at the Carrizal Property in Chile's III Region, targeting down-dip extensions of known mineralized zones and new zones. All holes intercepted visible copper sulphide mineralization, including chalcopyrite and chalcocite. The first hole on a newly tested structure about 250 metres west of the Farellon vein intercepted a six metre quartz calcite vein from 142m to 142.6m, with 1.5 kilometres of mapped strike length untested. Assays are expected in four to six weeks from receipt of samples.
Drill results