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Red Mountain targets multiple projects over the coming months


Published 27-MAY-2021 09:25 A.M.


2 minute read

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Red Mountain Mining Limited (ASX:RMX) has commenced diamond drilling at the Mt Maitland Gold and Base Metal Project in the Murchison Region of Western Australia.

News that this is underway comes on the back of last week’s comments regarding promising geophysical survey work carried out at the site which yielded two IP anomalies.

These anomalies are situated under previous workings and/or drilling.

The program just commenced will consist of two drill holes (approximately 800 metres in total) that are designed to test Induced Polarisation (IP) chargeability anomalies associated with the Jacia and Maitland South Prospects.

Geological observations will be released during the program with final assay results expected approximately 4-6 weeks after the completion of drilling.

Drilling at the Jacia VMS (Volcanagenic Massive Sulphide) style base and precious metal prospect (gold-copper-zinc-silver) will start with a hole of approximately 370 metres, testing the core of the geophysical anomaly as shown below.

36a - rmx.PNG

Drilling should be completed within 14 days, and given that rock chip samples previously taken from the workings and along the Jacia Trend have returned encouraging values of up to 1.94g/t Au, 7.4% Cu, 0.96% Zn and 58.6 g/t Ag, the outcome is much anticipated.

The Maitland Greenstone Belt is located adjacent to the Bryah Basin, host to numerous precious and base metal deposits including Sandfire Resources’ (ASX: SFR) DeGrussa Project.

Following completion of the Jacia drilling, the second hole will test the IP chargeability anomaly at the Maitland South Prospect by drilling a 420 metre hole that will test the core of the anomaly which coincides with the down dip extension of the mineralised shear zone as indicated above.

The Maitland South prospect is a long shear zone extending for more than 500 metres, characterised by numerous historical workings with shallow reverse circulation (RC) drilling returning significant intercepts, including 7 metres 3.3g/t gold from 34 metres and 13 metres at 2.53g/t from 9 metres, including 6 metres at 6.6 g/t from 13 metres.

Drilling is expected to take approximately 14 days to complete.

Red Mountain should have extensive newsflow in the coming months as fieldwork and drilling will also be conducted at Mt Mansbridge in the East Kimberley region of Western Australia with the company targeting heavy rare earths and two nickel/ultramafic prospects.

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S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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