Red Metal Limited announced that the new Gidyea project targets several standout regional geophysical anomalies in an under explored extension of the Cloncurry terrain in Northwest Queensland which offer scope for the discovery of large Iron Oxide Copper-Gold (IOCG) breccia systems. Processing and interpretation of the company's new gravity data in combination with the regional magnetic data has allowed the company's exploration team to interpret a variety of new IOCG plays. Of particular interest are the standout magnetic targets GT19, GT20 and GT23 which have a similar geophysical expression and general geological setting to the large Ernest Henry copper-gold mine 100 kilometres to the south. These magnetic targets appear to be structure controlled and occur in a low-density belt of rocks interpreted to contain the Mount Fort Constantine Volcanic units, the favorable felsic to intermediate volcanic rock types that host Ernest Henry. High gravity targets coincident with low-order magnetic anomalies GT29 and GT24 or a reversely polarized magnetic anomaly at GT30 also offer scope for other styles of IOCG minerlisation associated with dense hematite, iron sulphide or iron silicate minerals. In addition, recent interpretation of Geoscience Australia's deep imaging seismic and magnetotelluric data has enabled researchers at the Geological Survey of Queensland and the University of Queensland to develop a new crustal scale geological model for the greater Mount Isa region including the Gidyea project area. More importantly, the unique geological and geophysical characteristics of the fertile crust below the Ernest Henry region are interpreted to extend northward towards Red Metal's Gidyea tenements further highlighting this projects potential for large IOCG deposits. These exciting new target opportunities remain untested by past explorers and model at potentially mineable depths ranging between 400 and 700 metres below surface. Passive seismic trials are planned across key targets to image the depth to basement enabling more precise geophysical modelling. Preparations for drilling next year are underway. The Gidyea project is 100% owned and funded by Red Metal.