- Red Mountain Mining (RMX) submits applications to expand its Mustang lithium project in Nevada, USA by 853 hectares
- The mining company lodged 102 lode claims that surround the existing project with the Nevada Bureau of Land Management
- RMX says the new claims are prospective for claystone hosted lithium, with similar properties to American Lithium’s TLC project
- The company is now planning a reverse circulation drilling program of 10 holes drilled to a 70-metre depth to provide a better understanding of the mineralisation
- RMX shares soared 25 per cent, trading at 0.5 cents at 1:10 pm AEDT
Red Mountain Mining (RMX) has submitted applications to expand its Mustang lithium project in Nevada, USA by 853 hectares.
The mining company lodged 102 lode claims that surround the existing project with the Nevada Bureau of Land Management, which RMX expects to be granted shortly.
Once the claims are granted, it will increase the size of Mustang to 1069.7 hectares.
RMX said the new claims are prospective for claystone hosted lithium.
The company believes they feature similar host rocks, hydrological settings, and lithium enrichment mechanisms as American Lithium’s TLC project.
The company has now begun exploration at Mustang, and plans to conduct additional geological mapping and surface sampling within both Mustang and the Lithic lithium project.
The company has now put plans in place for a reverse circulation drilling program, comprising of 10 holes drilled to a depth of 70 metres.
The company expects results from this drilling to provide a better understanding of the lithium mineralisation.
RMX shares soared 25 per cent to 0.5 cents at 1:10 pm AEDT.