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Red Mountain Mining (ASX:RMX) begins drilling at Mt Maitland Gold & Base Metal Project

Mining
ASX:RMX      MCAP $2.674M
27 May 2021 14:50 (AEST)
Red Mountain Mining (ASX:RMX) - Managing Director, Jon Dugdale

Source: Business News

Red Mountain Mining (RMX) has begun diamond drilling at its Mt Maitland Gold and Base Metal Project.

The 65-square-kilometre Mt Maitland Project lies within the Murchison Goldfields in Western Australia, 90 kilometres north of Meekatharra.

Two diamond holes, for 800 metres, will be drilled to test induced polarisation (IP) chargeability anomalies at the Jacia and Maitland South prospects.

Work is already underway at the Jacia volcanogenic massive sulphide (VMS) prospect.

A single diamond hole will be drilled to test the geophysical anomaly and work is expected to take two weeks to complete.

Previous rock chip sampling has returned up to 1.94g/t gold, 58.6g/t silver, 7.4 per cent copper and 0.96 per cent zinc.

The second hole will be drilled at the Maitland South Prospect to test the IP chargeability anomaly.

The Maitland South Prospect spans more than 500 metres and is characterised by numerous historical workings with up to 6.6g/t gold previously intersected.

Drilling will begin once work wraps up at Jacia and is also expected to take two weeks.

Results are expected between four to six weeks after drilling is completed.

Shares in Red Mountain have been trading steady at 0.9 cents since May 19.

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