ASX Announcement – R3D, 6 June 2022

EPA Allows Progress of the Stage 2 Zeehan Application

• Tasmanian EPA has progressed the Stage 2 Zeehan Application to advertising.

• Further Information provided on the Nightflower Exploration Target including the addition of antimony

R3D Resources Limited (ASX: R3D) (R3D or the Company), a significant copper-gold explorer and developer in the Chillagoe Region in Far North Queensland, is pleased to announce that the Tasmanian EPA has agreed to allow the Company to progress its Stage 2 application to the advertising stage.

The Stage 2 application involves the potential granting of a permit to access the Northern Zinc Slag stockpile and to crush material from both the Northern and Southern stockpiles. Earlier this year, MRT granted permission to remove some minor heritage items from the Northern Stockpile area.

In addition, the Company has provided additional information with regards to the Digger Lode Exploration Target as part of the Nightflower Silver Project as advised to the ASX on 2 June 2022.

The announcement quoted Ag Equivalents without stating the metal prices and metal recoveries used in the calculation. These parameters are outlined in this announcement although the target has now been estimated using average metal prices and exchange rates for 2021 and incorporates antimony grades which are material in the mineralisation style. Both of these factors have resulted in an adjustment to the exploration target, however as stated, the exploration target is only conceptual in nature and further exploration may not result in the delineation of an economic resource.  It also doesn’t include the Terrace lode which represents the southern portion of the Nightflower silver project.

R3D Managing Director Stephen Bartrop advises: “Entering the 28-day advertising period is an important step in progressing the Stage 2 Application to potentially allow for the further exports of Zeehan low grade furnace/slag matte with the most recent shipment being completed in early May 2022. Elsewhere, we have updated the Digger Lode Exploration Target in the Nightflower Silver Project using average 2021 commodity prices as well as incorporating antimony grades from historical ‘resource’ reporting. Antimony is a deemed critical mineral by the Australian Dept. Industry, Science, Energy and Resources.”

Read the full announcement here: 02528843.pdf (aspecthuntley.com.au)