- Red Mountain Mining (RMX) records assays of up to 0.316 per cent total rare earth oxide (TREO) at its Mt Mansbridge project in the Eastern Kimberly
- The company says the presence of yttrium, dysprosium and terbium suggest the mineralisation is xenotime, a rare-earth phosphate mineral
- Remaining assays from drilling are expected this quarter; petrological analysis results are also expected within the coming weeks
- The company says following the wet season, completion of reverse circulation drilling at Mt Mansbridge is scheduled for Q2 2022
- Shares were trading at 1 cent at previous close on January 5
Red Mountain Mining (RMX) has recorded assays of up to 0.316 per cent total rare earth oxide (TREO) at its Mt Mansbridge project in the Eastern Kimberley region of Western Australia.
Located within the project, the Solo prospect assays showed an average ratio of heavy rare earth oxide to TREO of 66.62 per cent.
Drilling has confirmed the presence of rare earths in particular a large distribution of Yttrium. The company also says the dominance of dysprosium and terbium suggests the mineralisation is xenotime, a rare-earth phosphate mineral. The remaining assays from drilling are expected this quarter.
Meanwhile, petrological analysis is currently being undertaken by Diamantina Laboratories, with results anticipated in the coming weeks.
Red Mountain Mining said it successfully completed four of the planned holes at the project, before the drill rig and personnel demobilised from the site, due to the onset of the wet season within the Kimberley.
Following the wet season, the company is planning to complete reverse circulation drilling at Mt Mansbridge which is scheduled for Q2 2022.
Shares were trading at 1 cent at previous close on January 5.