New base metals prospect could be worth a lot to Red Mountain
Link copied to
Red Mountain’s Mt Mansbridge project is better known for its rare earths mineralisation, however a recent review has uncovered its potential to host base metals.
The new Boba Fett prospect, located 4km from the Déjà Vu cobalt prospect, is a coincident lead-zinc-copper-silver anomaly stretching over 1km that was identified following a technical review of soil geochemistry.
Additionally, it is located near a mapped hydrothermal breccia system and in close proximity to several magnetic high features associated with the west-northwest to east-southeast trending regional structure.
Red Mountain Mining (ASX:RMX) non-executive chairman Troy Flannery said the combination of features made Boba Fett worth following up during the company’s 2022 field campaign.
“The similar blend of elements, also seen at Rumble Resources’ Chinook Deposit, makes Boba Fett a very exciting base metals prospect,” he added.
Boba Fett was identified after a field inspection of the area noted extensive outcrops of an intensely silicified jigsaw-fit breccia, with angular clasts of previously silicified material.
These outcrops were located astride the regional structure and interpreted to be a potential product of a hydrothermal process indicative of a large and intense fluid system with the potential for sediment-hosted base metal deposits.
Subsequent soil sampling undertaken on a 200m by 50m grid at three priority prospects resulted in its discovery.
Red Mountain plans to undertake further detailed mapping, rock chipping and soil sampling to further define targets for drilling.
This will progress in parallel with its upcoming rare earth drilling program.
This article was developed in collaboration with Red Mountain Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.