Red Mountain Mining (ASX:RMX) has ballooned its U.S. critical minerals portfolio, picking up the Yellow Pine Antimony Project in Idaho. The “rich” project was secured through the direct staking of 29 claims, collectively a hair over 242.46 hectares and just two kilometres from Perpetua’s Stibnite project.
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This content has been prepared as part of a partnership with Red Mountain Mining Ltd and is intended for informational purposes only.
The Stibnite District is “historically significant,” the company wrote, with production between 1932 and 1952 yielding 40,000 tonnes of antimony.
The acquisition is clearly a welcome one for Australian markets, considering the company’s price has popped more than +43.2% since the update. The dovish action adds to a YTD burst of nearly +100% for the explorer.
Red Mountain bit on the claims thanks to their proximity to Perpetua’s flagship project, which just received final federal clearance for construction and boasts a “proven and probable” reserve of 4.8 million ounces gold and 148 million pounds antimony; the State’s largest known stibnite deposit.
The Yellow Pine Antimony Project shares geological characteristics with the Stibnite deposit, and “contains all the necessary elements for the formation of economic gold-antimony mineralisation,” Red Mountain explained.
Standout features include host rocks in the Idaho Batholith, “major” northeast-strike faults with mapped tectonic breccias, and evidence of historical workings.
Early reconnaissance work run by Red Mountain’s technical team on-site before the company picked up the claims also confirmed the presence of brecciated quartz veins and historical shallow pits within the area.
The total cost of the claims came out at around $52,000, with all titles registered under the Bureau of Land Management and valid to September 2026.
Red Mountain’s initial work program post-pickup includes geological mapping and sampling to test for evidence of hydrothermal fluid flow, alteration, and mineralisation. Targets will be evaluated for future drill testing.
The company also plans to use Yellow Pine and its Utah Antimony Project, announced earlier this month, to apply for federal funding. The U.S. gov’t is looking to inject up to US$5 billion in critical minerals projects.
RMX shares last sold at around 2.2 cents each.
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