Red Mountain ready to drill chargeability anomaly at Oaky Creek South

• Modelling reveals chargeability anomaly at Oaky Creek South prospect
• Anomaly to be tested as part of maiden RC drilling program
• Durock Drilling contracted for program comprising up to 32 RC drillholes
• Drilling expected to be completed in August

Red Mountain Mining (ASX:RMX) is set to test a new chargeability anomaly after engaging Durock Drilling to complete a maiden drilling program at Oaky Creek in NSW.

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Drilling is scheduled to commence on July 20 and be completed next month.

The target was identified in recently undertaken 2D and 3D modelling of dipole-dipole induced polarisation (DDIP) data collected during a four-line, 6.2 line-km, orientation IP survey at Oaky Creek South, part of the Armidale antimony-gold project.

Oaky Creek is Red Mountain’s most advanced target within the 391 sq. km Armidale project, located in the Southern New England Orogen of NSW.

Previously announced conventional and auger soil sampling and rock chip analytical results of up to 39.3% antimony and 1.09 parts per million (ppm) gold indicate potential for a large-scale orogenic antimony-gold vein system with a strike extent of three km at surface, which is analogous to Larvotto Resources’ Hillgrove project, Australia’s largest known antimony deposit.

The RC drilling program is designed to test four of five compelling orogenic antimony-gold targets defined from Red Mountain’s comprehensive surface rock chip, conventional soil and auger soil sampling program, completed over the past 12 months.

The program will drill test the coherent 300m by 30m Oaky Creek South main grid antimony-arsenic auger soil anomaly, which has also returned rock chip results of up to 39.3% antimony and 1.09 ppm gold.

A focus will be the historical workings and outcropping quartz-carbonate-stibnite veins at the Oaky Creek South workings and the chargeabilty anomaly that extends to the SSW; the Oaky Creek North workings; and the antimony-bearing Creek exposure to the north of it.

Red Mountain’s fifth priority surface geochemical drill target at Oaky Creek, the Oaky Creek North South Extension, is currently under crop, so cannot be accessed at this time.

Initial drillholes are planned to be between 100m and 150m deep, significantly shallower than the maximum requested approved hole depth of 300m, in order to establish continuity of mineralisation from surface. However, the maximum depth of 300m will allow for testing of further down-dip extensions of mineralisation, if justified by early results.

Orogenic antimony vein systems such as those present at Oaky Creek are known to have significant depth extent, with Larvotto Resources’ analogous Hillgrove deposit known to extend over vertical depths of more than one km.

RMX is up 9.09% to 1.2¢. Mkt cap $11.48M.

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