RMES Red Metal Resources Continues to Pursue Aggressive Growth Strategy Filed under: Spotlight Companies — Brittney Barrett @ 9:00 am There have been few investments over the past decade that have performed as impressively as gold. For the past ten years, gold’s value has been ascending somewhat steadily. Gold reached its peak in recent months and on-going market volatility is likely to support the strength of the precious metal. The U.S. and other developed nations are facing unexplored terrain in terms of the struggles with global debt and economic slowing. Consumer sentiment has been beaten down by slow job growth and a housing market that refuses to bounce back. This host of encroaching obstacles has many investors looking to gold as a source of stability and miners of the precious metals looking to exploration companies in the hopes of broadening their access to it.
Exploration companies, especially those with interest in areas that remain largely unexplored with high hopes for metals, are likely to thrive in the coming years. The number of places that fit this bill declines with time, as historically gold-rich regions become depleted alongside demand. Chile remains among the exceptions to this reality, having only recently authorized investment in the nation’s rich mining industry. The delay on this decision has given Chile an advantage over many other areas that have long been mined to capacity, especially now that the price of gold is near an all-time high. Exploration companies with ties to strong properties in the region are likely to reap financial benefits that exceed those possible in another economy.
The ability to be successful in a range of economies is a highly desirable attribute for a public company. Those exploration outfits that are able to offer not only gold, but other precious metals, like copper, which can rocket in a strong economy, make a business even more appealing. Chile is among the few regions able to offer such qualities in abundance.
Chile’s unique attributes drew the attention Red Metal Resources Ltd. (RMES), a mineral exploration company which now has four copper-gold assets in the nation. The company’s aggressive growth strategy, which entails acquiring, exploring and developing gold-copper projects, has left them well positioned to benefit from the ongoing ascent of precious metals.
Red Metal, mindful of the mammoth potential for ongoing discoveries within the region, continues to assess properties and expand upon their existing projects. The company recently announced that it would extend its exploration with Quantec Geoscience, where it will conduct a high-resolution ground magnetic survey over its Mateo property located in III Region,Chile.
The 5,244-acre site is located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile’s coastal Cordillera, host to Freeport-McMoRan’s Candelaria Mine and Anglo American’s Mantoverde Mine.
Additionally, Red Metal has received the survey results back from its project at the Farellon mine in Chile. They announced the discovery of 2.51 percent Copper and 0.35 g/t gold over 13 meters. The property, which is accessible year-round and well located could help the company generate profits during economic conditions good or bad.
Results from the magnetic survey will be employed in conjunction with geological mapping results, helping to better define mineralized structural features and aid in developing drill targets. Should it yield positive data, Red Metal would be well positioned for the present circumstances.
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