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Red Mountain Mining (ASX:RMX) has unveiled its latest assays from its Armidale project in NSW, sending shares over +6% higher as the company reports potential for a major antimony-gold system on-site, with a particular focus on the Oaky Creek South target of interest.
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Soil samples from that target yielded results up to 1,200ppm antimony (Sb) in soil samples with 13 samples coming in higher than 100ppm; at least one auger soil result also came in at 1.36% Sb – a concentration beating previous hits from Oaky Creek South tenfold.
“A coherent 200m long northeast-striking [antimony] anomaly has been identified which remains open to the northeast,” the company added on Thursday, also highlighting that a second grid 300m north of Oaky Creek South also returned strong arsenic results which geotechs are bullish could indicate further gold mineralisation.
This fresh data adds to existing rock-chip samples up to 40% antimony found on-site and, adding those two things together, the company will now kick off a fieldwork program in December to define the most promising drill targets ahead of an initial 2026 drill run.
“RMX will also extend the Oaky S Main grid to the northeast to test for the extension of the currently open anomaly and sample the area between the Main Grid and the historical workings at Oaky Creek South,” RMX wrote.
“As previously reported, soil and rock chip sampling is also planned for the Horsley Station and Horsley North gold targets. RMX is planning further exploration across the numerous stibnite and jarosite spectral anomalies across the project, in particular those that lie adjacent to known mineralisation and/or are along the known major Peel, Namoi and Cobbadah faults.”
RMX last traded at 3.3cps.
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Disclaimer: HotCopper had a commercial relationship with RMX at the time this article was crafted and published.
