October 7, 2009 Red Metal Limited report that the a first drill test on the Lily Creek project targeting a strong coincident magnetic and conductivity anomaly located along the Mount Dore structural zone in the Cloncurry region in Queensland has intersected nothing that can explain the anomaly. While the surface geophysics indicated a very strong conductivity anomaly it did not allow precise targeting and the first drill test may have well missed the source. A small interval of chalcopyrite-pyrite mineralisation from 743 to 746.8 metres supports this interpretation. Drilling will now shift to the nearby Little Sandy Creek target, a combined magnetic and conductivity anomaly located only 10 kilometres north northeast from the Osborne mine.
September 28, 2009 Red Metal announced that drilling has been initiated on the Lily Creek project targeting a large coincident magnetic and conductivity anomaly located along the Mount Dore structural zone in the Cloncurry region of Northwest Queensland, Australia.