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Red Mountain Mining (ASX:RMX) is starting maiden exploration at Silver Dollar in Idaho this week, after a technical study confirmed the project has silver and gold potential across several prospects around the company’s claims.
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Disclaimer: This content has been prepared as part of a partnership with Red Mountain Mining Ltd and is intended for informational purposes only.
The explorer will be chasing several high-priority targets from the study, focusing on historical areas that recorded 85.7g/t silver and 17.5g/t gold. (Precious metals potential at the project is supported by multiple historic workings, trenches, and adits across the area, Red Mountain wrote in Thursday’s update.)
There’s one standout target the explorer’s eager to explore: Both the Silver Dollar mine and the as-yet unnamed antimony vein occurrence around 600 metres to the southwest are both “clearly” related to the north-northeast-striking fault that cuts right through Red Mountain’s Silver Dollar claims.
“The stibnite vein mineralisation at Silver Dollar… is related to an ENE-striking, steeply N-dipping fault, and the host rocks display an analogous geological setting to Perpetua’s Stibnite project,” the company’s techs explained.
“This structure will be a focus,” Red Mountain confirmed today.
Other targets include four alluvial gold-silver placers and several bedrock prospects featuring quartz veining and structurally controlled mineralisation.
Red Mountain will also be investigating multiple antimony, gold, and silver occurrences picked up in a previously mined 10-metre shaft. That shaft had, some years past, targeted a huge stibnite vein up to one metre thick.
History suggests working around the shaft should pay dividends: Arthur McGowan, who sunk the shaft in the 1940s, told Red Mountain he “recalled receiving US$56 per ton of ore shipped” when he was working there.
That ore-to-cash haul lines up pretty closely to today’s weight value; McGowan may have been selling away haulage clocking around 17.7% antimony.
The explorer expects a quick turnaround on the exploration, especially considering the on-ground teams know exactly what they’re looking for. The Market Link understands results should come in as soon as Q3 FY26.
RMX shares have 2.6cps today, up around +8.3%.
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