Red Metal staff conducted site inspections on June 18 and July 1, 2026, to oversee operations managed by Minera KMT SpA. Under the current agreement, Red Metal receives a 10% sales royalty on all ore delivered to the Empresa Nacional de Mineria (ENAMI). Current development efforts focus on two distinct sectors of the property. In the northern zone, crews have reached 90% completion on de-watering Level 7, a historic site that previously yielded ore grading 1.97% copper and 9.62 g/t silver. Restoring this level is critical to resuming production, as mineralization in the area has historically shown improved consistency at depth.
Red Metal Reports Development Progress at Chile’s Carrizal Project
Mining activity at the Farellon 1/8 concession in Chile’s Atacama Region is accelerating, with lease operator Minera KMT SpA outpacing initial timelines. Red Metal Resources, which holds the mineral rights, confirmed that de-watering of historic workings is nearing completion as crews push toward identified high-grade copper and gold zones.
In the southern sector, a two-person crew is advancing a decline toward a target vein previously identified through historical drilling. According to CEO Caitlin Jeffs, these efforts, combined with ongoing infrastructure construction, place the project ahead of the original seven-month schedule. While Red Metal provides oversight and technical review, the company maintains a non-operator status, noting that the project is not currently supported by a formal feasibility study. Additional geological data, including upcoming induced polarization results, are expected throughout July to refine future extraction targets.
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