It’s rare earths season and Red Mountain’s gone a-huntin’
Red Mountain Mining has completed its Phase II drilling program at its Mt Mansbridge heavy rare earth and nickel-cobalt-platinum group elements (PGE) Project.
Rare earths such as neodymium are essential for the construction of permanent magnets that are required for efficient electric vehicle motors and wind turbines, making them a valuable commodity for the energy transition – and consumers are keen to diversify their supply away from China.
Red Mountain Mining’s (ASX:RMX) program was designed to follow up previous heavy rare earth and Ni-Cu-Co intercepts at Déjà Vu and Solo as well as test for further extensions of the mineralisation.
All samples are being processed and on route to the laboratory for assaying.
Maiden drill holes at Cow Creek verifying the presence of a large mafic/ultramafic intrusive complex.
At Déjà vu, visual inspections revealed strong signs of hydrothermal alteration, with isolated mineralization containing pyrite and some disseminated pentlandite.
“The Phase 2 drilling program has now been completed at Mt Mansbridge on time and as planned to test several targets, where there is historical drilling with anomalous rare earth and cobalt values identified in previous RC drill holes,” non-executive chairman Troy Flannery said.
“The observed geology and sulphide mineralisation at Cow Creek is a technical success and has validated the presence of a large mafic/ultramafic intrusive complex at Cow Creek.”
In addition, follow up field work and grab sampling were undertaken at an area south of the Boba Fett Prospect – which was identified as an isolated outcrop comprising of rich hematite and goethite ironstone.
This article was developed in collaboration with Red Mountain Mining Limited (ASX:RMX), a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should always consider obtaining independent advice before making any financial decisions.