Red Mountain Mining (ASX:RMX) has landed another acquisition, expanding its Idaho footprint by as much as 80% by buying the historical Silver Dollar Antimony Project – which boasts as many as 24 new claims – in the U.S. northwest.
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The explorer has been on an expansion drive in the States this year, picking up Yellow Pine in September and, before that, buying the Utah Antimony Project.
This Silver Dollar move sees Red Mountain add several known mineral occurrences to its portfolio, including the Silver Dollar Mine. Records shared by Red Mountain indicate the mine, which lies around 70 kilometres southeast of Yellow Pine, had once produced ore with an average grade of 17.7% antimony.
Silver Dollar was originally mined in the 1940s and has a 10-metre-deep shaft sunk into fractured granodiorite targeting a huge stibnite vein up to one metre thick.
Geological mapping links the mineralisation to a steeply north-dipping fault in the Cretaceous Idaho Batholith; a “standout” geological setting “similar to Perpetua Resources’ Stibnite Gold-Antimony Project,” which stands as the largest known antimony deposit being worked on in the States today.
Red Mountain plans to get cracking right away – HotCopper understands an initial exploration run at Silver Dollar is on the menu first up, before the Aussie company then runs out surface mapping and sampling.
That work will focus on the main fault structures around the area’s 24 claims, to identify any zones of alteration and mineralisation for future drilling.
RMX enjoyed another advance on the news, climbing +11.7% today.
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