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Red Mountain (ASX:RMX) has increased by 75% its overall U.S. prospective antimony acreage footprint with a major claim acquired in Idaho, USA, expanding Red Mountain’s Yellow Pine Antimony Project.
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Disclaimer: This content has been prepared as part of a partnership with Red Mountain Mining Ltd and is intended for informational purposes only.
Additional claims reported on Friday were snatched up on the back of a surface mapping program, where geotechs liked the country they saw around them.
Practically straddling US$4.3B capped and Nasdaq-listed Perpetua Resources, the company is hopeful it too can find dual lodes of gold and antimony to boost project economics and provide a potentially diversified revenue stream.
Also nearby is the Resolution Minerals-led Horse Heaven antimony-gold project, which was at one point earlier this year on the radar of a firm backed by the Trump family.
“Antimony and gold mineralisation at [Perpetua’s acreage] and at Horse Heaven is controlled by regional faults and splays, and occurs within both the Idaho Batholith and surrounding older metasedimentary rocks,” Red Mountain wrote on Friday.
“RMX’s board views that the unprecedented critical shortage of Western supply of Strategic Metals and strong U.S. and Australian Government interest in key metals will likely remain robust over the medium-to-long term, which provides high conviction to fast-track its strategy.”
Earlier this week, Red Mountain kicked off trading on the US OTCQB markets in its North American financial markets debut – shares popped +36% out the gate.
RMX last traded at 3cps.
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