Join our daily newsletter At The Bell to receive exclusive market insights
Red Mountain Mining (ASX:RMX) is now working to define stronger drill targets along the eastern margin of the Mount Torrey Batholith, where “massive” limestone-hosted garnet skarns host scheelite tungsten mineralisation, through systematic rock chip sampling at its Pioneer tungsten project in Montana.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The systematic sampling is focused on the Greenstone and Lost Creek claims – two of three areas at the Pioneer project – as well as Mammoth.
Initial reconnaissance sampling reported on July 1 returned anomalous values of up to 3,159 ppm (0.32%) WO3 from the Greenstone area, and 2,856 ppm (0.29%) WO3 from the Mammoth claims. (Lost Creek was not included.)
The new round of sampling is designed to assess surface grade, extent, variability, and continuity across mapped surface exposures, Red Mountain told shareholders today, to identify eastern down-dip extensions.
Sampling will be conducted on east-west traverses across the garnet skarn mineralisation at a nominal 50-meter spacing, utilising representative channel samples and individual rock chip grab samples. At Greenstone, sampling will also cover an area Red Mountain has staked and expects to be granted by the end of July.
HotCopper understands assay results from Greenstone and Lost Creek are expected back by late August. They’ll be used to plan further rapid drill testing.
“The relatively simple and well-understood geology of the Pioneer project means the company anticipates it will be able to move rapidly to drill testing of downdip extensions
of skarn mineralisation, subject to positive analytical results from the current sampling,” the Aussie explorer wrote today.
RMX is selling at 1cps this morning.
Join the discussion: See what HotCopper users are saying about Red Mountain Mining Ltd and be part of the conversations that move the markets.
Disclaimer: This content was prepared as part of a partnership with Red Mountain Ltd. It is intended to inform investors and should not be taken as financial advice.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)