Red Mountain Mining (ASX:RMX) has this week started metallurgical testwork at its Oaky Creek prospect in Armidale to validate processing viability and de-risk the New South Wales antimony-gold asset before drilling.
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.
Disclaimer: This content has been prepared as part of a partnership with Red Mountain Mining Ltd and is intended for informational purposes only.
The Australian explorer is eager to accelerate the commercial validation at the Armidale project before running drill testing next quarter.
To that end, Red Mountain submitted a 20-kilogram representative bulk sample of quartz-stibnite vein material to Auralia Metallurgy for detailed analysis. The program included XRD-EDS and QEMSCAN tests to identify antimony sulphide and oxide phases, a comprehensive flotation study, and smelting validation.
The company “anticipates testing has the potential to produce a marketable concentrate containing between 30% and 40% antimony,” which (if achieved) would confirm the commercial viability of Oaky Creek.
Oaky Creek prospect has already been identified as a three-kilometre-long orogenic antimony-gold vein, which Red Mountain has been exploring.
Previously reported large coherent soil anomalies and rock sample results came in at up to 39.3% antimony and 1.09ppm gold. The project is analogous to the Hillgrove project owned and operated by Larvotto Resources (ASX:LRV).
The wait now begins for Red Mountain shareholders − a likely reason for the company’s -4% value drop on Monday morning − with sampling assays from the area’s most recent program expected in before quarter’s-end.
Those results, as well as this metallurgical testing flagged in Week 8, will be combined to set up several antimony and gold targets for Q2’s drill testing.
RMX shares have been 2.7c each.
Join the discussion: See what HotCopper users are saying about Red Mountain Mining Ltd and be part of the conversations that move the markets.
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.