RMX - Red Mountain Mining

[greggles]

Drilling has commenced at the Mt Mansbridge Project. The 1,200m RC drilling program will test a number of Rare Earth Element (REE), Cobalt and Nickel-Copper-Cobalt-PGE targets at the project.

Assay results are likely to be received early in 2022, so hopefully there will be a bullish start to the new year for RMX.

 

[Dona Ferentes]

And, a year and a bit later, is cobalt/ copper no longer the story, do PGE prove elusive, has gold lost its shine?

Red Mountain Acquires Strategic Lithium Projects in Nevada, USA
HIGHLIGHTS
• Acquisition of two highly prospective and strategic lithium projects in Nevada, USA
• Located in an emerging district hosting recently discovered lithium deposits and aggressive lithium exploration
• Projects in close proximity to potential offtake partners and positioned to benefit from domestic supply development initiatives in the United States
• Oversubscribed capital raising completed to fully fund upcoming lithium exploration campaign

Raised $1.8 million at 0.4c, aka $0.004

 

[frugal.rock]

RED MOUNTAIN MINING LTD
1 February 2023

Early Lithium Discovery at the Mustang Project, Nevada, USA

HIGHLIGHTS

• Lithium assay values to a high of 721ppm lithium returned from initial surface sampling efforts.

• Encouraging results given the very limited historical exploration work in the area.

• 18 samples collected along uplifted claystone ridges.

• Stratigraphy and geomorphology of the Monte Cristo Valley is similar to that of the Clayton Valley and Big Smoky Valley which hosts the largest defined lithium mineral resource in the United States.

• The claims are within the Monte Cristo Valley caldera, which contains significant exposures of volcanic rocks interpreted to be the source of lithium in the closed basin.

• Additional surface samples and mapping aims to further evaluate the project lithology and
stratigraphy.

• Surface sampling to commence at RMX’s Lithic Lithium Project in the coming days.

 

[frugal.rock]

10 July 2023

Red Mountain to Farm-In Liontown’s Rare Earth Project

HIGHLIGHTS

• Binding farm-in agreement executed with Liontown Resources for 80% interest in its prospective
Monjebup Rare Earth Project

• Attractive terms for Red Mountain in an all-scrip transaction and exploration requirement of $500,000 within 24 months to acquire 80% of the Project

• Recent surface sampling include TREO results of up to 969ppm

• Project located in southern Western Australia and consists of three large exploration licenses:
E70/6042, E70/6043 and E70/6044, covering a total of 910km2

• A Joint Venture to be formed between Red Mountain & Liontown upon satisfying farm-in exploration requirement

• Field exploration preparation underway and expected to commence subject to finalising land access agreements

 

[frugal.rock]

12 July 2023

Thick High Grade Lithium Discovery From Near Surface at Mustang

HIGHLIGHTS

• Confirmation of high grade lithium claystone intersected in 8 out of 10 drillholes at RMX’s
100% owned Mustang Lithium Project, Nevada, U.S.A.

• Majority of drillholes encountering thick, consistent lithium mineralisation from or near surface

• Fast-tracked lithium assay results include:
• RMDH-1: 48.77 metres @ 687ppm Li from 3.05 metres
• RMDH-2: 30.50 metres @ 629ppm Li from surface (0 metres)
• RMDH-3: 30.50 metres @ 608ppm Li from 4.6 metres *
• RMDH-4: 28.96 metres @ 564ppm Li from 4.5 metres
• including 3.05 metres @ 690ppm Li from 30.5 metres
• RMDH-6: 32.00 metres @ 639ppm Li from 6.1 metres
• RMDH-7: 29.00 metres @ 600ppm Li from 1.5 metres
• RMDH-9: 29.00 metres @ 642ppm Li from surface (0 metres)
• RMDH-14: 21.30 metres @ 488ppm Li from 83.8 metres
• including 4.6 metres @ 627ppm
Li from 88.5 metres
• including 1.53 metres @ 722ppm Li from 103.7 metres

• Strike distance of lithium mineralisation to date reaching ~1500 metres

• Highly successful outcome from maiden drilling program targeting greenfields nature of the Mustang property

• Phase 2 drilling program now strategically planned to further test lithium potential at Mustang and to commence building maiden JORC resource

• Samples from RMX’s 100% owned Lithic Lithium Project currently pending from American Assay Laboratories, with upcoming drill targets to be determined

 

[frugal.rock]

9 October 2023

Red Mountain Secures Footprint Near Surge Lithium Discovery

HIGHLIGHTS

• 199 Mining Claims successfully staked at Elko County, north-eastern region of Nevada USA
• Staking initiative almost doubles Red Mountain’s landholding size position in Nevada
• Rationale for staking based on recent rare high grade Li discovery by Surge Battery Metals (TSX-V: NILI), with recent drilling results indicating assays of up to 8,070 ppm Li1
• Red Mountain’s new strategic tenure placed in good proximity to Surge Discovery
• Initial sampling program expected to commence end of October

 

[frugal.rock]

ASX ANNOUNCEMENT
RED MOUNTAIN MINING LTD
26 October 2023

Preliminary Sampling Completed at Magante
Lithium Project

HIGHLIGHTS

• Initial surface sampling completed targeting multiple drainage locations at the 100% owned Magante Lithium Project

• Total of 53 samples collected as part of preliminary investigation into newly staked claims

• Collected samples delivered and received by Idaho based ALS Global for lithium analyses

• Expected return of fast-tracked assay results circa 3 weeks

Circa 3 weeks is next Thursday, 16/11/23
All quiet on the chart except for that monster bar early July.

 

[frugal.rock]

RED MOUNTAIN MINING LTD
15 November 2023

Successful Phase II Lithium Assay Results At Mustang

HIGHLIGHTS

• Successful Phase II drilling at Mustang, with high grade lithium mineralisation intersected in 8 out of 11 drillholes at RMX’s 100% owned Mustang Lithium Project, Nevada, U.S.A.

• Notable lithium assay results include:
• RMDH-21: 51.8 metres @ 644ppm Li from 12.2 metres
(including 29 metres @ 701ppm Li from 12.2 metres)
• RMDH-15: 54.9 metres @ 500ppm Li from 48.8 metres
• RMDH-27: 21.3 metres @ 606ppm Li from 4.6 metres
• RMDH-23: 10.7 metres @ 577ppm Li from 4.6 metres

• Strike distance of lithium mineralisation now exceeding over 3000 metres

• Phase II drilling results reveal strong potential for continued lithium mineralisation towards south-western region of Mustang

• Planning for Phase III drilling underway with compelling new drill targets to be generated and drilling program application to be submitted

 

[Dona Ferentes]

how low can you go?

.
Red Mountain Mining Ltd (ASX: RMX) is undertaking a pro-rata non-renounceable entitlement issue of one (1) share for three (3) existing shares held by eligible shareholders at an issue price of $0.001 per New Share to raise up to $891,192 (before costs), together with one free-attaching option (exercisable at $0.002 and expiring on or before the date that is three years from the date of issue) for every two New Shares subscribed for and issued ...

A transaction specific prospectus in relation to the Offers will be lodged with ASIC on 25 March 2024 and will be despatched to eligible shareholders on 10 April 2024.

Use of Funds
The Company intends to allocate funds raised from the Offer towards:
• exploration on the Company’s farm-in of Liontown Resources (ASX:LTR) Monjebup Rare Earth Project;
• exploration on the Company’s existing asset portfolio;
• review of potential new ventures; and
• working capital expenses.

 

[Dona Ferentes]

how low can you go?

a flicker of life, a glint in a geo's eye*

.

Historical Gold Mineralisation identified at Flicka Lake​

HIGHLIGHTS
• Recently completed desktop study has identified three parallel quartz veins, which have been targeted with grab rock samples at Flicka Lake Project in Canada
• Historical exploration identified gold bearing channel samples including 9.96 g/t Au and 12.96 g/t Au
• Previously reported grab samples included 17.88 g/t, 7.38 g/t and 20.07 g/t of Au
• Flicka Lake Gold Sampling Program Assay Results expected to be received shortly

*desk jockey award for most creative contribution