Copper, gold and related miners all gained strength today as a bevy of international economic factors, from strong growth in emerging nations to fear over potential inflation increased their appeal. There are few companies, given the current growth dichotomy that could be considered as well positioned as those with interests in both copper and gold.
Red Metal Resources Ltd. (RMES) a copper-gold exploration company which focuses on acquiring, exploring and developing copper-gold properties in Chile, is among the exploration outfits with this rare sort of economic flexibility. Impressive sample assay results from the company’s Mateo project position them even more effectively for the current divide in economic growth rates.
The company is entering an exciting stage in its development as it is finding some "fantastic" drill targets in Chile, which in addition to ranking as a world-class prolific copper-gold producing country and being recognized for its monster deposits, is celebrated for being among the few mining hubs boasting a stable political environment. The combination of these factors, alongside the recent high-grade results, stokes a sense of optimism for Red Metal’s current ventures.
Other corporations with interests in copper-gold, Freeport McMoRan (FCX), for instance, have been benefitting enormously from greater enthusiasm for both precious and industrial metals rises in recent trading.
FCX, like Red Metal, boasts interests on the Candelaria iron oxide copper-belt , considered to be a highly prolific region of Chile.
“We looked at the belt and tried to find areas with similar geological setting to Freeport McMoRan’s Candelaria mine,” said Red Metal’s CEO Caitlin Jeffs, “We eventually targeted the area around Mateo and when we got out to see what was there we found numerous historical mines in the area.”
A recent detailed geological mapping program performed by Red Metal on its Mateo property confirmed the likeness to Freeport McMoran’s Candelaria mine. RMES identified nine mineralized zones as potential targets for future drilling. The assay results indicated a wealth of copper and gold at atypically low elevations, simplifying access and offering better proximity to the cooper and gold consumer.
These qualities, alongside the advantage of the current economic factors, could help to raise Red Metals profile in the event that the most recent global economic trends surrounding demand for both commercial and precious metals prevail.
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