Redstone Resources Advances High-Potential Saturn Project to Expand West Musgrave Copper and PGE Exploration
Redstone Resources (ASX: RDS) has advanced its Saturn Project in Western Australia's West Musgrave …
Redstone Resources Limited (ASX: RDS)
Company Overview, Share Price, Latest News and Announcements
Redstone Resources Limited (ASX: RDS): Company Overview
Redstone Resources Limited (ASX: RDS) is a Perth-based mineral exploration company listed on the ASX since August 2006.
Its flagship asset is the 100% owned West Musgrave Project in Western Australia, which hosts the Tollu Copper Deposit. Redstone expanded significantly during 2026 through the grant of the 330 square kilometre Saturn Project and the scrip-funded acquisition of a suite of gold, lithium, copper and base metal projects across Western Australia.
The portfolio now spans copper, cobalt, nickel, platinum group elements, gold and lithium across Australia and James Bay, Quebec in Canada.
| Full Company Name | Redstone Resources Limited |
| ASX Ticker | RDS |
| Sector | Basic Materials / Mineral Exploration |
| Country | Australia |
| Date Listed | 3 August 2006 |
| Head Office | West Perth WA 6005 |
| Share Registry | Automic Group |
| Auditor | Dry Kirkness (Audit) Pty Ltd |
| Flagship Project | West Musgrave Project, including Tollu Copper Deposit |
| Website | redstone.com.au |
Redstone Resources Limited (ASX: RDS): News and Announcements
Stay up to date with the latest ASX announcements, production updates, and strategic developments from Redstone Resources Limited (ASX: RDS) below.
Redstone Resources Limited (ASX: RDS): Videos
Redstone Resources Limited (ASX: RDS): Business Core Insights
What Redstone Does
- Explores for copper, cobalt, nickel and platinum group elements in the West Musgrave region of Western Australia
- Explores gold, lithium, copper and base metals projects across established Western Australian mining districts
- Holds a 50:50 lithium joint venture in James Bay, Quebec, with Galan Lithium
Commodity Exposure
| Commodity | Where |
|---|---|
| Copper | Tollu, Saturn, Rudall East, Gascoyne Creek |
| Cobalt | Tollu, Saturn |
| Nickel and PGE | Saturn, Little Bulong |
| Gold | Mt Cauden, Twin Hills, HanTails, Anthiby Well |
| Lithium | Cockatoo Rocks, Mt Cauden, James Bay JV |
Revenue Model
Redstone is a pre-revenue exploration company. Value creation is pursued through resource definition, discovery and project advancement.
Redstone Resources Limited (ASX: RDS): Business Core Insights
| Project | Location | Commodities | Status |
|---|---|---|---|
| West Musgrave (incl. Tollu Cu deposit) | West Musgrave, Western Australia | Copper, cobalt | JORC resource defined; RC drilling being planned |
| Saturn | West Musgrave, Western Australia | Cu, Ni, Co, PGE | Newly granted; access negotiations underway |
| Mt Cauden | Youanmi Belt, WA | Gold, lithium | Drilling approvals secured |
| Twin Hills | Leonora-Menzies, WA | Gold | Drilling approvals secured |
| Rudall East | Paterson Province, WA | Cu, Pb, Zn, Ag, Au | Targets identified, untested |
| Cockatoo Rocks | Western Australia | Li, Cs, Ta | Future aircore program planned |
| Anthiby Well | Western Australia | Gold | Under review |
| Gascoyne Creek | Western Australia | Copper, gold | Under review |
| Little Bulong | Western Australia | Nickel, gold | Under review |
| HanTails | Near Kalgoorlie, WA | Gold | Held within portfolio |
| James Bay JV | Quebec, Canada | Lithium | 50:50 JV with Galan Lithium |
Redstone Resources Limited (ASX: RDS): Key Highlights
- Defined copper resource. Tollu holds 38,000 tonnes of contained copper and 535 tonnes of contained cobalt
- Early-stage drill coverage. Drilling at Tollu covers less than 5% of the tenement area
- Published exploration target. Conceptual target of 31 to 47 million tonnes at 0.8% to 1.3% copper
- Tier-one address. West Musgrave – Saturn sits around 10 km from BHP’s Succoth Cu deposit, 25 km from Nebo-Babel Cu-Ni-Co-PGE deposit and 40km from Terra Metals’ Dante PGE Reef discoveries
- Cash-free expansion. Suite of projects acquired in June 2026 for scrip and a royalty, with no cash outlay
- Government support. WA Exploration Incentive Scheme grant of up to A$230,000 toward West Musgrave RC drilling
- Drill-ready gold. Program of work approvals in place at Mt Cauden and Twin Hills
- Board alignment. Directors and associated entities hold substantial positions on the register
Investment Snapshot at a Glance
| Flagship Resource (Tollu) | 3.8 Mt at 1.0% Cu |
| Contained Copper | 38,000 tonnes |
| Contained Cobalt | 535 tonnes |
| Conceptual Exploration Target | 31 to 47 Mt at 0.8% to 1.3% Cu |
| Saturn Project Area | 330 km² |
| Projects Acquired June 2026 | Seven (gold, lithium, copper, base metals) |
| Drilling Grant Secured | Up to A$230,000 |
| Dividend | None |
Redstone Resources Limited (ASX: RDS): Projects and Assets Portfolio
West Musgrave Project and the Tollu Copper Deposit
Tollu is Redstone’s flagship, held 100% in the south-eastern West Musgrave region.
- Large swarm of hydrothermal copper-rich quartz veins across a system covering at least 5 km²
- Mineralisation forms part of a dilatational system between two major structures
- Extremely high-grade and continuous copper mineralisation from surface to depth, and open at depth to the south
- Recently completed deep diamond hole TLD005 intersected gabbro with Co sulphide at 811 m — the first geochemical sign of a potential deeper magmatic Cu-Ni-Co ± PGE source, analogous to nearby Nebo-Babel and Voisey’s Bay style mineralisation.
- Indications of source rocks containing low grade Cu sulphides have been intersected with very limited drilling at the EM5 target to the northeast of Tollu
Tollu Mineral Resource (JORC 2012)
| Metric | Figure |
|---|---|
| Tonnage | 3.8 million tonnes |
| Copper grade | 1.0% Cu |
| Contained copper | 38,000 tonnes |
| Oxide component | 8,000 tonnes Cu |
| Cobalt grade | 0.01% Co |
| Contained cobalt | 535 tonnes |
Conceptual Exploration Target
| Metric | Range |
|---|---|
| Tonnage | 31 to 47 million tonnes |
| Grade | 0.8% to 1.3% Cu |
| Contained copper | 259,000 to 626,000 tonnes |
Planned Work
- RC drilling to further test the EM5, East Cigar, West Cigar and Hiding Maggie magnetic targets
- Targets sit in the north-eastern corridor of the Tollu Copper Deposit
- Supported by a WA Exploration Incentive Scheme co-funded grant of up to A$230,000
Saturn Project
- Recently granted tenure covering 330 km² of the Giles Intrusive Complex
- Centred on the Saturn Intrusion, a magnetic feature approximately 13 km wide with at least 10 concentric magnetic rings, analogous in magnetic signature and size to the district scale Panton Project in the Kimberley, WA – 92.9 Mt @ 1.5 g/t PGM3E
- Prospective for PGE reefs, copper sulphide systems and Cu-Ni-Co-PGE deposits
- Limited historical drilling has already identified several Cu-Ni-Co-PGE and PGE Reef prospects – adjacent to BHP’s world-class Nebo-Babel deposit, Succoth Cu deposit and Terra Metals’ Dante PGE Reef discoveries.
- Located 10 km west of Redstone’s West Musgrave Project and Tollu Cu deposit
Neighbouring Deposits
| Deposit | Owner | Distance from Saturn |
|---|---|---|
| Succoth (156 Mt at 0.6% Cu) | BHP | ~10 km west |
| Nebo-Babel (Cu-Ni-Co-PGE) | BHP | ~25 km west |
| Dante Project | Terra Metals | ~40 km north-west |
Priority Prospects
| Prospect | Description | Selected historical result |
|---|---|---|
| Halleys | Pipe-like intrusive body, ~250 m thick, open at depth | 58 m at 0.35% Cu, 0.08% Ni, 0.21 g/t Pt+Pd+Au from 20 m |
| Halleys NW | 11 km PGE soil anomaly; reef zone up to 45 m thick | 25 m at 0.18 g/t Pt+Pd+Au from 5 m |
| Last Frontier | 5 km north-west along strike from Halleys NW | 15 m at 0.18 g/t Pt+Pd+Au from 20 m |
| Helena | 3 km zone of anomalous Cu-Ni on a magnetic trend | 1 m at 0.17% Cu from 65 m |
| Phoebe | Cu-Ni-Co anomalism on western side of intrusion | 669 ppm Ni, 266 ppm Cu, 696 ppm Co |
| Titan / Titan North | Disseminated Cu-PGE in Giles Complex gabbro | Copper values up to 0.2% |
Next Steps
- Access negotiations with Traditional Owners
- Technical assessment of historical datasets and target prioritisation
Western Australian Gold, Lithium, Copper and Base Metals Portfolio
Acquired from private explorer Hurricane Prospecting in June 2026.
Transaction Terms
| Item | Detail |
|---|---|
| Cash consideration | Nil |
| Scrip consideration | 75,000,000 fully paid ordinary shares |
| Deemed issue price | A$0.003 per share |
| Escrow | 12 months voluntary |
| Royalty | 1.5% net smelter royalty |
Higher Priority Projects Acquired
| Project | Area | Setting | Key detail |
|---|---|---|---|
| Mt Cauden | Over 40 km² | Youanmi Greenstone Belt | Continuous low-grade gold, open at depth; lithium pegmatite potential; near Mt Holland (189 Mt at 1.5% Li₂O) |
| Twin Hills | 60 km² | Leonora-Menzies | 17 m at 1.23 g/t gold from 28 m, open at depth; close to existing mills |
| Rudall East | 58 km² | Paterson Province | Two untested Tempest EM anomalies; historical 1.8% Cu, 1.6% Pb, 1.1% Zn, 27 g/t Ag; rock chips to 22.9% Cu and 661 g/t Ag |
| Cockatoo Rocks | Greenfields | Emu Fault corridor | Pegmatite intercepts up to 50 m thick from 10 m depth; shallow aircore program planned |
Program of work approvals have been secured for Mt Cauden and Twin Hills.
James Bay Joint Venture, Quebec
- 50:50 joint venture with Galan Lithium Ltd
- Covers the Camaro, Taiga and Hellcat lithium projects in James Bay, Quebec
Redstone Resources Limited (ASX: RDS): Financial and Capital Position
- Pre-revenue exploration company with no producing assets
- No dividend has been paid
- No corporate debt reported
- Recent raise of A$650,000 through the issue of 185,714,286 shares at A$0.0035
- Funds directed to the West Musgrave Project and general working capital
Redstone Resources Limited (ASX: RDS): Leadership Team
| Name | Role |
|---|---|
| Richard Homsany | Chairman |
| Edward (Ted) van Heemst | Non-Executive Director |
| Brett Hodgins | Non-Executive Director |
| Dr Greg Shirtliff | Technical Lead |
Richard Homsany, Chairman
Executive Vice President of TSX-listed Mega Uranium Ltd, non-executive chairman of Galan Lithium and Executive Chairman of ASX-listed Toro Energy Ltd. Former corporate and commercial advisory partner at a leading Australian law firm and principal of Cardinals Lawyers and Consultants. Holds a Commerce degree and Honours degree in Law from the University of Western Australia. Certified Practising Accountant and Fellow of FINSIA.
Edward van Heemst, Non-Executive Director
Perth businessman with 40 years of management experience across large private companies. Managing Director of Vanguard Press and Chairman of Perth Racing. Holds a Bachelor of Commerce from the University of Melbourne, an MBA from the University of Western Australia, and is a member of the Institute of Chartered Accountants Australia.
Brett Hodgins, Non-Executive Director
Geologist with over 25 years in exploration and mining operations. Began his career with Robe River Mining and Rio Tinto Iron Ore, working on the West Angelas and Hope Downs developments. Former General Manager Project Development for Iron Ore Holdings. Holds an Honours degree in Geology from Newcastle University.
Dr Greg Shirtliff, Technical Lead
Consulting geologist with over 25 years’ experience in Mining and Exploration for various commodities in Australia and Overseas.
Redstone Resources Limited (ASX: RDS): Share Price and Market Information
| Last Price | A$0.004 (22 July 2026) |
| Market Capitalisation | $4,567,436 |
| Shares on Issue | 1,304,981,643 |
| 52-Week Range | 0.002 - 0.007 |
| Sector | Basic Materials |
| Dividend | None |
| Date Listed | 3 August 2006 |
Substantial Shareholders
| Name | Shares | Holding |
|---|---|---|
| Edward & Marilyn van Heemst | 90,083,334 | 8.71% |
| Richard Homsany and Cardinals Corporate Pty Ltd | 70,526,635 | 6.82% |
| Hurricane Prospecting Pty Ltd | 75,000,000 | 5.75% |
Galan Lithium Ltd also appears on the Top 20 register with 50,000,000 shares.
Source: Market Index
Redstone Resources Limited (ASX: RDS): Strategy and Future Outlook
Near-Term Priorities
- Complete access negotiations with Traditional Owners at Saturn
- Commence RC drilling at West Musgrave targeting EM5, East Cigar, West Cigar and Hiding Maggie
- Progress first-pass drilling at Mt Cauden and Twin Hills
- Advance a potential shallow aircore program at Cockatoo Rocks
- Verify historical Saturn datasets to JORC 2012 standards
Medium-Term Objectives
- Test the scale and continuity of the sulphide system at Halleys and other PGE prospects at Saturn
- Develop and implement a broad scale exploration strategy across Saturn project
- Assess the Rudall East EM anomalies for Mt Isa style base metal potential
- Define the extent of LCT pegmatite mineralisation at Cockatoo Rocks
Redstone Resources Limited (ASX: RDS): Industry Position
Copper Market Context
- The International Copper Study Group projects a global refined copper surplus of approximately 96,000 tonnes in 2026
- Refined copper usage is forecast to grow 1.6% in 2026 and 2% in 2027
- Refined production growth is forecast at 0.4% in 2026, constrained by concentrate availability, before accelerating around 3% in 2027
- Declining global ore grades and extended permitting timelines continue to limit new supply
Peers in the West Musgrave
| Company | Asset | Relevance |
|---|---|---|
| BHP | Nebo-Babel, Succoth | Major-company tenure within 25 km of Saturn |
| Terra Metals (ASX: TM1) | Dante Project | PGE reef and massive sulphide discoveries 40 km north-west |
| Future Metals (ASX: FME) | Panton Project | Layered intrusion analogue referenced in Redstone's Saturn model |
Redstone Resources Limited (ASX: RDS): Frequently Asked Questions
Redstone Resources (ASX: RDS) is a Perth-based explorer focused on copper in the West Musgrave region of Western Australia, with additional gold, lithium, copper and base metal projects.
Redstone’s 100% owned flagship deposit, holding a JORC resource of 3.8 million tonnes at 1.0% copper for 38,000 tonnes of contained copper and 535 tonnes of contained cobalt.
Drilling to date covers less than 5% of the tenement area.
A newly granted 330 square kilometre exploration licence in the West Musgrave region, prospective for platinum group element reefs and copper-nickel-cobalt-PGE mineralisation.
The Mt Cauden, Twin Hills, Rudall East and Cockatoo Rocks priority projects as part of a suite of projects from Hurricane Prospecting for 75 million shares plus a 1.5% net smelter royalty, with no cash consideration.
Yes. Redstone holds a 50:50 joint venture with Galan Lithium covering lithium projects in James Bay, Quebec.
Chairman Richard Homsany and Non-Executive Directors Edward van Heemst and Brett Hodgins.
No. All capital is directed toward exploration.
3 August 2006.
Access agreements at Saturn, RC drilling at West Musgrave, and first-pass drilling at Mt Cauden and Twin Hills
Disclaimer
This page is for informational purposes only. It does not constitute financial product advice. Investors should consider their personal financial situation and seek independent professional advice before making any investment decisions. All figures are sourced from Redstone Resources ASX filings, the Company’s corporate website and Market Index.