Red Mountain adds nickel and cobalt potential to Mt Mansbridge
There’s more than rare earths at the Mt Mansbridge project with Red Mountain uncovering potential for nickel, copper, cobalt and platinum group elements.
Historical drilling at the Déjà Vu prospect returned up to 0.129 per cent nickel along with a broad zone of anomalous cobalt grading up to 0.34 per cent within fresh rock.
Disseminated pentlandite (important nickel ore) and chalcopyrite (important copper ore) were observed in this drilling.
These encouraging observations fuelled Red Mountain Mining’s (ASX:RMX) belief that the prospect has the potential to host massive sulphides containing nickel-copper-cobalt-PGE mineralisation.
A technical review identified Déjà Vu as a layered mafic-ultramafic intrusive complex similar to Panoramic Resources’ (ASX:PAN) major Sally Malay nickel deposit, which has a resource of 13.4Mt grading 1.56 per cent nickel, 0.7 per cent copper and 0.1 per cent cobalt.
The company is planning to carry out a ground-based electromagnetic survey over the coming months once the site is accessible to identify conductors that could represent zones of nickel-copper sulphides.
Any conductors will be drill tested during the coming exploration season.
The new prospect adds to the 32 rare earth targets that Red Mountain has identified to date at the Mt Mansbridge project in Western Australia’s Kimberley region.
The Déjà Vu prospect was identified and drilled by CRA between 1991 and 1993 for diamond bearing kimberlites.
It was originally interpreted from regional magnetics and then through further detailed prospect scale magnetics and mapping.
The 600m long east-west trending magnetic anomaly is located within a regional west-northwest to east-southeast trending fault system, which hosts several other magnetic anomalies that could represent further mafic-ultramafic intrusions.
Red Mountain noted that due to the nature of diamond exploration, CRA did not drill test the basal contact position of the Déjà Vu intrusive complex, which is highly prospective for sulphide accumulations.
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.