- NSW government approval for Oaky Creek RC program
- Up to 32 holes to be drilled to a maximum depth of 300m.
- Drill targets generated from surface geochemical sampling program
- Drilling expected to commence at end of current quarter
Red Mountain Mining (ASX: RMX) has received approval from the NSW resources regulator for a 32-hole reverse circulation (RC) drilling program at the Oaky Creek antimony prospect within the Armidale project in New South Wales.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more
Holes in the upcoming program will be drilled to a maximum depth of 300m at Oaky Creek with the program designed to test a series of compelling orogenic antimony-gold targets.
Those targets were defined from Red Mountain’s comprehensive surface rock chip, conventional soil and auger soil sampling program, completed over the past 12 months.
The program will drill test a coherent 300m by 30m Oaky Creek South Main Grid antimony-arsenic auger soil anomaly, which has also returned rock chip results of up to 39.3% antimony and 1.09 parts per million (ppm) gold and three targets defined by rock chip and auger soil sampling at Oaky Creek North.
Initial drillholes are planned to be between 100m and 150m deep, significantly shallower than the maximum requested approved hole depth of 300m, in order to establish continuity of mineralisation from surface. However, the maximum depth of 300m will allow for testing of further down-dip extensions of mineralisation, if justified by early results. Orogenic antimony vein systems such as those present at Oaky Creek are known to have significant depth extent, with Larvotto Resources’ (ASX: LRV) analogous Hillgrove deposit known to extend over vertical depths of more than one km.
Red Mountain has recently engaged Fender Geophysics to undertake an orientation IP survey at Oaky Creek South. The survey was completed in the first half of May and comprised three 1.6km long, 100m spaced lines and a 1.5km long cross line.
Red Mountain anticipates that Fender will provide the full results of the completed IP survey prior to the end of May. The data is expected to be used to assist in targeting drillholes to test potential deeper mineralisation at Oaky Creek South.
Depending on results, Red Mountain will also consider completing a more comprehensive IP survey over the entire Oaky Creek prospect that could potentially map out further antimony mineralisation that does not have a surface geochemical expression.
RMX is up 13.3% to 1.7¢. Mkt cap $14.24M.
Join the discussion: See what Hot Copper users are saying about Red Mountain Mining and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.