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Red Mountain Mining (ASX:RMX) will be expanding exploration operations across an exposed quartz reef at its Kiabye Gold Project after recovering as many as eleven nuggets during long-planned 1,000-metre RC drilling.
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The gold nuggets were discovered by Red Mountain’s geology team when they investigated an exposed reef near a major intersection during “Reef One” operations.
The gold is alluvial, and while the company today admitted its direct source “has not yet been confirmed,” Red Mountain Mining’s team is still excited because it was dug up quite close to established structural features and quartz veining.
This Week 26 nugget hit came near the intersection of a northeast-to-southwest trending fault and a northwest-to-southeast fault in the Narndee Igneous Complex.
“Notably, soil sampling nearby has returned anomalous gold values, including 9ppb gold, and the Reef One area has previously reported gold-in-soil anomalies,” the company wrote, referring to its November 14, 2024, discovery.
The team had been looking in that area after rain delays slowed primary Kiabye plans.
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Red Mountain will now be diving back into exploration efforts around the area to see if they can spot more nuggets through the quartz reef. This follow-up program will include more geological mapping and strike sampling.
Multiple samples are expected to be collected from Kiabye through next month, HotCopper understands, as testing continues on the already-announced hits.
On this nugget news, RMX dropped -10% in the first 10 minutes of Monday trade.
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