- Red Mountain Mining (RMX) has completed its maiden drilling program at the Mt Maitland Gold Project in Western Australia
- 27 reverse circulation holes were drilled at the project, with a focus on the Mt Maitland South, Jacia, Second Chance South, and Lenanphyl prospects
- So far, Red Mountain has only received gold results from Mt Maitland South with grades peaking at 12.7g/t gold
- The company will receive results from the remaining prospects once reported by the laboratory
- Red Mountain’s share price has jumped 21.4 per cent in morning trade with shares trading for 1.7 cents each
Red Mountain Mining (RMX) has completed its maiden drilling program at the Mt Maitland Gold Project.
The project spans 65 square kilometres and lies within the Murchison Goldfields of Western Australia.
Roughly 1850 metres of reverse circulation (RC) drilling was completed across 27 holes with primary focus on the Mt Maitland South, Jacia, Second Chance South, and Lenanphyl prospects.
Mt Maitland South
The Mt Maitland South Prospect spans more than 550 metres in length and is characterised by sulphidic quartz veining and numerous historical workings.
Significant new results include seven metres at 3.3g/t gold, including one metre at 12.7g/t gold, and eight metres at 1.7g/t gold including one metre at 7.1g/t gold.
The 12.7g/t gold and 7.1g/t gold results are particularly encouraging for Red Mountain as they highlight the potential for a high-grade system.
Additional samples are yet to be reported on but will be over the coming weeks.
Jacia
The Jacia Prospect is a multi-element copper, zinc, gold and silver geochemical anomaly.
Two holes were drilled into areas of geological interest and both intersected zones of silicified quartz with minor dispersed sulphide.
Results will be released in the coming weeks once reported by the laboratory.
Second Chance South
Second Chance South is a geochemical and structural target that has never been subject to drilling.
This recent drilling consisted of nine holes being drilled to test key areas within the prospect.
Fresh rock was intercepted close to the surface as well as encouraging minor zones of sulphide bearing quartz veining.
Results are expected to be released in the upcoming weeks.
Lenanphyl
12 RC holes were drilled at the Lenanphyl Prospect and assays are expected to be announced in the upcoming weeks.
Drilling intersected a weathered package of banded iron formation (BIF), magnetite-silica alteration, and quartz-carbonate veining.
Red Mountain’s share price has jumped 21.4 per cent in morning trade with shares trading for 1.7 cents each at 10:37 am AEDT.