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There’s the potential for a “large orogenic antimony mineral system” at Oaky Creek in Armidale, Red Mountain Mining (ASX:RMX) has declared today, following assay results from samples collected from historical workings.
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The explorer’s high-grade assay results, which ranged up to 28.34% antimony, seem to suggest “the high tenor of mineralisation” at the New South Wales dig. There were anomalies spotted at both Oaky Creek North and South during the works, with the company suggesting each “warrants further investigation.”
“High-grade samples have been collected up to 500 metres from historical workings, suggesting potential for a large, high-grade, antimony-bearing orogenic vein system,” the company wrote in a June 27 market update.
Most chip samples were collected from in situ outcropping exposures across the Armidale prospect; where impossible, the explorer used subcrop and floats instead.
The fact Red Mountain’s Armidale search site is quite close to the Hillgrove deposit – owned and operated by Larvotto Resources (ASX:LRV) – where high-grade gold mineralisation has been found, is also adding confidence.
On that note, Oaky Creek’s gold samples also continue to be tested, Red Mountain says. HotCopper understands those results will be made available by late July.
Red Mountain now plans to dig shallow costeans to expose the bedrock beneath several strong soil antimony anomalies which have no visible outcrop.
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The New South Wales explorer will also be undertaking a new soil and rock chip sampling campaign over the East Hills Antimony and Horsley Station Gold prospects along the Armidale project’s southern side.
Beyond its Australian focus, Red Mountain is expanding exploration operations across an exposed quartz reef at its Kiabye Gold Project in Alaska after recovering as many as eleven nuggets during a 1,000-metre RC drilling run. Rain delays had held up work in North America, but everything’s running again now.
RMX jumped as much as +33.3% on Friday’s news, to 1.2cps.
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