Red Mountain Mining (ASX:RMX) has this week reeled in the “highest antimony grades to date” at the company’s Oaky Creek antimony-gold project, with exploration results in Armidale including as much as 39.9% Sb.
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Rock chips analysed through Red Mountain’s latest auger soil sampling came in with “standout” results: Hits ranged from 39.9% antimony with 0.16 grams per tonne gold to 33.5% Sb from 1.09g/t gold and 19.4% Sb with 0.25g/t gold.
These are the strongest assays from the prospect and now confirm the potential for Oaky Creek to host a major orogenic antimony-gold camp. “Significant untested extensions” were also indicated by the 1.5-kilometre-long anomaly.
This week’s sampling campaign collected 19 rock chip samples alongside around 250 hand auger soil samples. The results go hand-in-hand with older samples where grades of up to 28.3% Sb and 0.54g/t gold were reported.
HotCopper understands that Red Mountain now intends to extend auger soil and rock chip sampling into Oaky Creek North, with drill definition of prospective mineralised zones a leading objective in that expansion.
That, and more sampling at Horsley Station and Horsley North, leaves Red Mountain “well-positioned to continue aggressive exploration across its antimony and gold assets in Australia and North America following [a] recent oversubscribed placement,” the Australian explorer told shareholders today.
Share price-wise, this represents another huge win for Red Mountain; through Thursday’s trade, the company has already popped another +20.7%.
To date, RMX has been on a tear and is +400% in the last four weeks.
At time of writing, shares in the explorer are 3.5c.
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